PTI has launched a new exit node in India that is “not in the positions to be performing business with our parent company”, the company said in a statement on Friday.
PTI’s entry into the Indian market has been hampered by a slew of laws and regulations that the country has adopted in recent years, the company claimed.
The PTI said it had decided to move the exit node from Hyderabad to Chennai in order to focus on its other business interests, such as selling digital products and services to Indian audiences.
PTIs exit node was launched at a time when the PTI is gearing up for a contest with the Bharatiya Janata Party (BJP) in the 2019 general elections, the PTi spokesperson said.
PTi is a popular and well-known online news portal, covering politics, cricket, music, culture, technology, food and more.
Its website is owned by media giant Reliance Communications and it has over 40 million monthly users.
In a statement, PTI CEO and chairman Deepak Bajpai said the company had “completed its preparations” for the exit.
PTAs exit node will be located in the company’s main office, in Pune, the statement added.
PTII exit node PTII said it was “surprised” to learn about the PTIs new exit and said it “looks forward to further cooperation with the PTII team in the future”.
PTI India, the parent company of PTI, was formed in 2014 by former News International India Managing Director and chairman Mukesh Ambani.
PT’s entry in India has been hindered by a raft of laws, regulations and other restrictions, including by a ban on its entry into a list of banned entities.
PTis entry into India has also been hampered due to a ban imposed by the Central Bureau of Investigation (CBI) on its presence in the country.
PT I is seeking a waiver to the CBI’s ban, the firm said.