'India will be a key builder of global technologies': Paytm founder Vijay Shekhar Sharma

Founder of Paytm, Vijay Shekhar Sharma on Sunday said India will be a key builder of global technologies and not just a market importer. Sharma said the step towards technology development is 'inevitable' and during this phase, India will face retaliation by Big Tech companies.

'Our time is now...'

Taking to twitter Sharma wrote, "The inevitable. India will be a key builder of global technologies. Not just a market or importer. We will face retaliation by Big Tech, and that’s a confirmation of our importance and their dominance on world technology landscape. Our time is now."

He was reacting to a report 'The end of the American internet' by Benedict Evans- a Mobile and digital media strategy and analysis in the US that claimed 80 to 90 percent of the internet users are outside the USA. The report further claimed that there are more smartphone users in China and India than in the USA and western Europe combined. The creation of venture-based startups has gone global, the report stated.

READ | Paytm back on Play Store; Founder Vijay Shekhar Sharma issues statement, thanks users

READ | Paytm back on Play Store; Founder Vijay Shekhar Sharma issues statement, thanks users

Paytm removed from Google

Last month for the first time, Google removed Paytm’s main application from the Google Play Store on September 18 while other applications such as its wealth and management app Paytm Money, merchant app Paytm for Business, and its movie ticketing application were still available on the Play Store for users to install. Even though Google did not mention the exact reason for the drastic move but the search giant had said earlier that Google Play is “designed to provide a safe and secure experience for our consumers while also giving developers the platform and tools they need to build sustainable businesses”.

READ | Google and Paytm news: Paytm's Cashback feature back on app for IPL 2020

Paytm issues statement

Soon after the removal Paytm released a statement on Twitter informing the users that the main application has been removed from the Google Play Store. The mobile application is still available on Apple App Store and Paytm said that the money of all the users is “completely safe” and the individuals who have already installed the app can continue to use it without any aberration. The app was restored back on Appstore on the same day. Reacting to this App's founder Vijay Shekhar Sharma issued a response on the same day and thanked everyone for their support and said that his fintech app had launched a UPI cashback campaign which Google mistook for gambling.

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