India open to Chinese investments, as long as done lawfully: MoS Rajeev Chandrasekhar

New Delhi, July 26 (KNN) India is open to all investments, including Chinese as long as they are investing and conducting their business lawfully and are in compliance with the Indian laws, Deputy Minister for Information Technology Rajeev Chandrasekhar told the Financial Times.

The Minister said that despite the border clashes between the two countries, the country is open to investment by Chinese firms.

India had ramped up scrutiny of Chinese businesses after a 2020 border clash between the two countries, banning more than 300 Chinese apps, including TikTok. It has also intensified scrutiny of investments by Chinese firms.

The Indian government recently rejected a USD 1 billion investment proposal of Chinese electric car maker BYD and its Hyderabad-based partner Megha Engineering and Infrastructures Ltd (MEIL) to set up an electric vehicle manufacturing plant.

As per reports, New Delhi dismissed the plan from BYD and Megha Engineering and Infrastructures Ltd. due to national security concerns.  (KNN Bureau)