Facebook's WhatsApp is the most popular app on phones. Virtually every smartphone runs on Google's Android system. YouTube is the favorite video platform and Amazon is the No. 2 online retailer.

India's government will be imposing tough new rules on the technology industry.

China has been able to grow domestic internet giants like Alibaba, Tencent and Baidu by limiting foreign competition.

The proposals will raise the costs for foreign companies. It could deter investments like Walmart's recent $16 billion deal to buy control of Flipkart, which is India's leading online retailer.

India wants to grow Technology Giants

In 2017, there were seven Indian companies that made it to 2017's Fortune 500 list, three are private companies—Reliance Industries, Tata Motors and Rajesh Exports—and none was a technology company.