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Technology companies in India got an unexpected bonanza when the Chinese state went after a series of technology companies and industries. As an example, “ed-tech” firms fuse video and software and live English-speaking tutors to teach the children of the world. There is a natural opportunity to do this out of India, given low wage English-speaking 24-year-olds who know enough to teach 12-year-old kids worldwide. The Chinese state damaged Chinese firms in this space, and the opportunity for Indian firms improved.
One part of this crackdown is a Chinese ban on cryptocurrency activities. In this, China joined Bolivia, Indonesia, Turkey,
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