There is something going on with Xiaomi India’s operations. The company is facing challenges as the ED has frozen its Rs 5551 crore and now it is battling rumours that it is moving its operations out of India.
Just a week after the Directorate of Enforcement (ED), a department of the Indian government that investigates economic crimes, froze Rs 5551 crore held in bank accounts of Xiaomi India, a report on Twitter claimed the company is moving out of India. Preposterously, the tweet by South Asia Index — which aims to tweet news and has a large following — claims that Xiaomi is looking to move its operations out of India and into Pakistan. Xiaomi India called the claims baseless and completely false.
And it is probably because something that sounds preposterous and sensational probably is preposterous.
