The Indian authorities has acquired about 54 overseas direct funding proposals from China since final 12 months which might be pending for approval, stated Finance Minister Nirmala Sitharaman.
“54 FDI proposals acquired through the previous 12 months and present 12 months with investor/ helpful proprietor from China/Hong Kong are pending for choice with authorities as on March 21, 2023,” Sitharaman knowledgeable lawmakers on Monday.
The Indian authorities just isn’t contemplating easing restrictions put in place a number of years in the past on overseas investments from international locations that share land border with India, Sitharaman stated.
India says scenario with China fragile, harmful within the Himalayan entrance
In 2020, India sought to restrict investments from China as political tensions heightened between the 2 international locations with its troopers clashing on the disputed Himalayan area.
The restrictions known as for helpful homeowners of a rustic sharing a land border with India to hunt its authorities’s approval for investments.
The step was taken to stop hostile takeovers of Indian corporations when the nation was severely impacted by the COVID-19 pandemic.