Probe urged in Chinese investments in 141 Indian startups

New Delhi, Aug 31 (KNN) The Confederation of All India Traders (CAIT) urged the government to order an investigation into Chinese investments in Indian startups to determine their investment control in these firms.  

In this regard the traders' body sent a letter to Commerce and Industry Minister Piyush Goyal, where it shared a list of 141 prominent Indian startups claiming they have significant Chinese investments.

These Indian companies relate to hospitality, daily consumables, food delivery, information technology, logistics, payment applications, e-commerce, travel, transport, pharmaceuticals, insurance, share market, health care, eye care, play applications etc.

''It looks like a planned strategy by various Chinese companies to acquire vital data of Indian people and an exercise in direction to dominate various Indian economic centres by virtue of their investments. Therefore, an immediate direction for an in-depth investigation into the working and business module of Indian start-ups covering the above-mentioned concerns is all the more necessary,'' CAIT said in a letter on Sunday.

CAIT also suggested that any Chinese investment in any Indian venture should be brought in public domain and investments in such companies may also be investigated."

''It is also suggested that any future overseas investment should be through government route and not through automatic route"-said CAIT national president B C Bhartia & secretary general Praveen Khandelwal.