Chinese investments: 150 investment proposals coming from China are in front of the government. This amount is 2 billion dollars i.e. about 15000 crore rupees.
Including companies such as Great Wall Motor and SAIC Motor Corp.
In December, a report came in which said that since April, more than 120 FDI proposals worth about Rs 12000 crore have come from China. Reuters quoted sources as saying that it is considering to approve 45 investment proposals coming from China. This includes companies such as Great Wall Motor and SAIC Motor Corp. Recently China and India have agreed to step back on LAC, after which the tension has come down. After the decrease in tension, the proposal for investment proposal is being considered.
These investment proposals are before the government from April 2020. According to the latest report, 150 investment proposals coming from China are in front of the government. This amount is 2 billion dollars i.e. about 15000 crore rupees. Explain that the investment coming from Japan and America which is reaching India via Hong Kong has also affected the rules in lieu of FDI. Great Wall Motor and General Motors placed a joint proposal with the government in the year 2020, under which Great Wall Motor sought consent from the government to buy General Motor’s India plant. The deal is worth about $ 250–300 million (2100 million).
FDI rules were changed in April 2020
In the month of April, the central government changed the FDI rules after the Chinese troops attacked the Line of Actual Control. Under the new rule, for those countries whose border adjoins India, government approval will have to be taken before investing in any sector in India. The government had taken this decision to stop the opportunistic takeover due to the Kovid-19 epidemic. Last year, between April and September, FDI worth $ 2.43 billion, ie 15526 crore, has come from China to India.
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