28 March , 2023 Fdiindia
Several FDI Proposals of China Unsettled With India
A few years ago, when the political conflict between China and India escalated, the latter decided to restrict investments from the former. According to the recent revelation made by the Finance Minister of India, Nirmala Sitharaman, from the past year, 54 FDI proposals have been received from China by New Delhi. These proposals are unsettled till now.
“54 FDI proposals received during the past year and current year with investor/beneficial owner from China/Hong Kong are pending for decision with government as on March 21, 2023,” as per Sitharaman when replying to a query in Lok Sabha, the lower house of the Indian parliament.
According to the data of PTI from April 2020, the Indian government revised the FDI policy of the country to restrain “opportunistic possessions” of Indian organizations because of the COVID-19 pandemic.
It was stated by Sitharaman that alleviating the limitations placed on nations that India shares land borders with was not being considered currently, along with having an investor from these countries.
Present regulations state that only the government route is open to countries sharing land borders with India. Also, if the citizens of these countries or the people deriving benefits from such investments in India are situated in these nations, then they also can invest only via the government path.
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