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Netflix, Apple cross swords in Indian streaming market

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India's video-streaming industry is expected to grow at nearly 22 percent per annum to 119 billion rupees ($1.7 billion) by 2023.

Sacred GamesBut Netflix faces stiff competition in Asia's third-largest economy as Amazon's Prime Video, Disney's Hotstar, Alt Balaji and other local platforms jostle for digital subscriptions and eyeballs.

US technology giant Apple on Wednesday announced the launch of its streaming platform Apple TV+ in India, hoping to upend competition.Netflix is available in India from 199 rupees a month and as millions of first-time users access internet in Asia's third-largest economy, analysts expect competition to intensify.

India's video-streaming industry is expected to grow at nearly 22 percent per annum to 119 billion rupees by 2023 according to consultancy PwC, Bloomberg News reported. Netflix chief Reed Hastings has said the company's goal is 100 million customers in India - almost 25 times its estimated subscriber base there as of this year, Bloomberg said.

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