- NEW DELHI — The government plans to conduct more stringent reviews of some
major investment proposals from Chinese companies to invest in India, which
could delay the go-ahead for these ventures, according to an NDTV Profit
report.
-
- The decision comes in the backdrop of China’s support to
Pakistan in the wake of the terrorist killings in Pahalgam and 'Operation
Sindoor' that followed.
-
- China has been extending diplomatic support to Pakistan,
in coordination with Turkey and Bangladesh, apart from providing military
hardware that has been used against India.
-
- The government is expected to intensify its scrutiny of
Foreign Direct Investment (FDI) proposals and joint ventures backed by Chinese
firms.
Also read: 'Operation Sindoor' aftermath: Multiple losses for Pakistan air force
Sensex, Nifty open higher after inflation cools, geo-political tensions ease
- Several new joint ventures may be proposed as a
workaround to existing restrictions, but pending proposals and ongoing
negotiations could also face delays, the NDTV Profit report said citing people
familiar with the matter.
-
- Some Indian companies are in talks with Chinese firms for
joint ventures in the electronics component manufacturing segment under the
government’s Production-Linked Incentive (PLI) scheme. These projects are
likely to be delayed.
-
- Among the major Chinese companies, home appliances giant
Haier is exploring a joint venture (JV) with the JSW Group, an Indian
conglomerate, for a potential investment of Rs 1,000 crore. The proposal is
under the consideration of the government.
-
- At the UN Security Council committee #1267 on
counter-terrorism, China blocked any mention of The Resistance Force, an arm of
the Lashkar-e-Tayiba terror group, that initially took responsibility for the
Pahalgam attacks on April 22.
