Despite recent crackdowns on Chinese manufacturers and mobile applications, India is “open” to investments from China, according to Rajeev Chandrasekhar, Minister of State for Electronics and Information Technology.
What Happened? This statement comes as India aims to leverage global supply chains shifting away from China, attracting suppliers to multinational companies such as Apple, Financial Times reports.
Over the past three years, India has banned more than a hundred Chinese social media, lending, and other apps, including TikTok, citing data protection and privacy concerns. Regulatory probes have also been launched against Chinese mobile phone producers Xiaomi, Oppo and Vivo.
However, Chandrasekhar insists that India is open to doing business with any company, including Chinese ones, as long as they comply with Indian laws. This openness extends to all investment, not just in the tech sector.
India recently rejected a $1 billion (8,200 crore) proposal from China’s BYD Co to manufacture EVs in the country through a joint venture with a Hyderabad-based firm.
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