I don't think it's a stretch to state the risk of tiktok being mass propaganda machine, from India's perspective.
Additionally, I don't take this as a particular politically charged statement against China, as quite a few replies stated. The reason is that China and India are on a very delicate geopolitical environment. The history is long and ambiguous. The current rivalry is subtle and dangerous. You just cannot give any chance in this situation. After all, China do not have any foreign social network services anyway. There is no reason to gift the opponent an potential upper hand.
The Pandora's box was formally opened in the Arab spring already. It was a well intended start, followed with an ugly development and messy prospect left for generations to suffer and struggle.
Now the whole idea of social networking services as an actual helper of connecting people with different cultural background roughly reduces to nil. That really was a buffer.
Lastly, I don't think it makes sense for any sovereign government to force their country's corporation to serve them directly.
That would immediately destroy any chance of those organizations to expand beyond their home country. Someone might argue Chinese firms are OK to that because they had a big market already. That's a totally unreasonable imagination on Chinese business men's brain structure. I never encountered any such Chinese business man who believe loyalty to CCP is higher than their profit. Other argument is that Chinese law can coerce, but all the laws are saying the company ought to corporate when necessary for the security of the country. I cannot imagine any sane political personnel can convince anyone else that offensive propaganda in peace time is necessary for national security. At least I did not see any such behavior or even minor behavior with hint of such reasoning from past history.