PUBG Corp licensed the PUBG IP to Tencent, a Chinese company, to develop and publish the game globally, including in India.

The game was recently banned in India for being a Chinese app. PUBG Corp would be publishing the game as a Korean entity, thus not subject to the ban.
It is worth noting that Tencent did move to ensure that data and servers were stored in India a few months ago. The move was to assure regulators in India that there are no privacy concerns.

However the app was still banned because of the Chinese dev/pub affiliation.
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