ByteDance has been in talks with Indian conglomerate Reliance Industries on a potential deal for TikTok in India, according to TechCrunch.
India banned the short-video app June 29 along with 58 other Chinese apps after geopolitical tensions flared between the two countries. A possible deal for TikTok could reportedly reinstate the app in India, as Reliance owner Mukesh Ambani has a cozy relationship with Indian Prime Minister Narendra Modi. Reliance also owns digital services giant Jio Platforms, which has grabbed over $20 billion this year from a long list of investors including Facebook and Google.
TikTok is reportedly valued at $3 billion in India and claims to have over 200 million users in the country, making it the app’s biggest overseas market.
Earlier this month, Microsoft confirmed it was exploring a deal to buy TikTok’s operations in North America, Australia and New Zealand. The tech giant is up against a Sept. 20 deadline to finalize a deal after President Trump signed an executive order that would ban the video app and the WeChat messaging app in the US if they’re not sold by their Chinese parent companies.