China's ByteDance is in early talks with Mukesh Ambani's Reliance Industries Ltd for investment in its video-based app TikTok's business in India, according to TechCrunch. The report said the two companies began conversations late last month. However, they have not reached a deal yet.

In June, the government had banned 59 Chinese apps including TikTok and WeChat for threatening India's soverignty and integrity post border tensions with China.

According to sources quoted by TechCrunch, TikTok's business in India, where it had amassed over 200 million users before it was banned in late June, is being valued at more than $3 billion.

China's ByteDance is in early talks with Mukesh Ambani's Reliance Industries Ltd for investment in its video-based app TikTok's business in India, according to TechCrunch. The report said the two companies began conversations late last month. However, they have not reached a deal yet.

In June, the government had banned 59 Chinese apps including TikTok and WeChat for threatening India's soverignty and integrity post border tensions with China.

According to sources quoted by TechCrunch, TikTok's business in India, where it had amassed over 200 million users before it was banned in late June, is being valued at more than $3 billion.