Categories: Business

India reviewing around 50 investment proposals from China says sources


indian reviewing investment from china

new Delhi. India is keeping a close watch on the domestic market of Chinese companies and investment in companies amid continued tensions with China. According to the news quoted sources in the news agency Reuters, the Indian government is currently reviewing 50 investment proposals of Chinese companies under the new law.

According to these new rules issued in April, investors from neighboring countries of India will have to seek government approval to invest in India. These rules will apply to both new investment or additional investment in an already ongoing project. Among the neighboring states of India, China is the largest investor in India. The scope of the new rules includes China, Pakistan, Bangladesh, Nepal, Afghanistan.

According to the Government of India, these rules have been made to prevent any opportunistic move by neighboring countries. According to sources, the economic situation of domestic companies worsening amid the epidemic has increased the risk of forcible occupation, making it necessary to review the investment.

According to the news, sources have clarified that several agencies in India, including the Indian embassy in China, are trying to find out what the purpose of their investment is by talking to Chinese investors. Last week itself, India banned China's 59 apps in India. Which includes TicTock and WeChat. After which strict investment is being monitored. According to sources, the stress of $ 100 million funding to food delivery app Jomato has been affected.

This post was published on July 6, 2020 8:54 pm

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