Amid constant tensions in the border dispute, India will approve 45 investment proposals from China. India is set to approve 45 investment proposals from China, including Great Wall Motor and SIC Motor Corp, the news agency Reuters quoted government and industry sources. Let me tell you that there has been tension between the two countries over the past nine months over the border dispute with China, however, tensions are expected to decrease after the military withdrawal process.
The proposals have been in the pipeline since last year when India tightened control over China’s investment in retaliation against Chinese military aggression in eastern Ladakh. China blamed the Indian Army for deadlock. Explain that tensions have increased further after the blood clash in the Galvan valley between India and China.
According to the news agency Reuters, 150 investment proposals valued at about $ 2 billion are in the pipeline between the two countries. Investment proposals for companies in Japan and the US through Hong Kong have also been affected. According to the report, most of these 45 proposals are from the manufacturing sector, which is considered insensitive to national security.
Sources have not disclosed anything in detail, but two other government officials may include the Great Wall Motor and the SIC Motor. However, a spokesman for the Federal Home (Interior) Ministry did not answer the question of approving the proposals. In fact, the Great Wall and General Motors (GM) issued a joint proposal last year that Chinese automakers have agreed to buy an American company’s car plant in India. The value of the contract – expected to be 250–300 million.
The Great Wall, which plans to invest around $ 1 billion in India over the next few years, said establishing operations in the country was a key part of its global strategy. It plans to start selling cars in India from this year and is also considering electric vehicles. At the same time, SIC started selling its cars under British brand MG Motor in 2019. The company has decided to invest 50 650 million in India, of which 400 million are invested. The company needs government approval for further investment.
Explain that Chinese investors are in the news of getting approval in India at a time when the withdrawal of both forces from the Pangong regions has eased border tensions between India and China. Advocates and lawyers feel that sectors such as automobiles, electronics, chemicals and textiles are considered insensitive, while data and finance-related investments are considered sensitive. Government sources said proposals for insensitive areas would be approved soon, but those deemed “sensitive” would be reviewed later.