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India to clear 45 investments from China, likely to include Great Wall, SAIC - sources
Government and industry sources said to clear 45 investment proposals which had been held up since last year after Indian tightened controls Chinese investment in the country n retaliation against alleged Chinese troop incursions in the western Himalayan region. China blamed Indian troops for the standoff. Those investment included those from Great Wall Motor and SAIC Motor Corp
About 150 investment proposals from China worth more than $2 billion were stuck in the pipeline. Companies from Japan and the U.S. routing investment through Hong Kong were also caught in the cross-fire as an inter-ministerial panel led by the interior ministry increased scrutiny of such proposals.
SAIC, which started selling cars in India in 2019 under its British brand MG Motor, has invested around $400 million of the nearly $650 million it has committed to India and would need approval to bring more investment.
Great Wall plans to invest $1 billion in India over the next few years and had planned to start selling cars in India from this year.
Source: Reuters #Feb22
https://www.reuters.com/article/us-india-china-investment-exclusive/exclusive-india-to-clear-45-investments-from-china-likely-to-include-great-wall-saic-sources-idUSKBN2AM0T4
#India #ChinaInvestment
Government and industry sources said to clear 45 investment proposals which had been held up since last year after Indian tightened controls Chinese investment in the country n retaliation against alleged Chinese troop incursions in the western Himalayan region. China blamed Indian troops for the standoff. Those investment included those from Great Wall Motor and SAIC Motor Corp
About 150 investment proposals from China worth more than $2 billion were stuck in the pipeline. Companies from Japan and the U.S. routing investment through Hong Kong were also caught in the cross-fire as an inter-ministerial panel led by the interior ministry increased scrutiny of such proposals.
SAIC, which started selling cars in India in 2019 under its British brand MG Motor, has invested around $400 million of the nearly $650 million it has committed to India and would need approval to bring more investment.
Great Wall plans to invest $1 billion in India over the next few years and had planned to start selling cars in India from this year.
Source: Reuters #Feb22
https://www.reuters.com/article/us-india-china-investment-exclusive/exclusive-india-to-clear-45-investments-from-china-likely-to-include-great-wall-saic-sources-idUSKBN2AM0T4
#India #ChinaInvestment
U.S.
Exclusive: India to clear 45 investments from China, likely to include Great Wall, SAIC - sources
India is set to clear 45 investment proposals from China, which are likely to include those from Great Wall Motor and SAIC Motor Corp, government and industry sources told Reuters, as military tensions between the two countries ease at the disputed border.