'Open to Chinese investments': IT Minister Rajeev Chandrasekhar
Rajeev Chandrasekhar, Union Minister of State for Electronics and Information Technology, has said that India is open to Chinese investments even as the two countries continue to indulge in border clashes. In an interview with the Financial Times, he said, "We are open to doing business with any company anywhere as long as they are investing and conducting their business lawfully."
India ramped up scrutiny of Chinese businesses in 2020
Notably, the central government ramped up scrutiny and banned more than 300 Chinese applications, including TikTok, after clashes on the Ladakh border in 2020. Recently, The Economic Times reported that India has declined the proposal from Chinese automaker BYD Co. to establish a $1 billion factory in the country. In contrast, the FT, citing sources, reported that BYD's application is still "pending and valid."
Apple seeks permission to open new factory
Separately, Luxshare Precision Industry Co. Ltd., Apple's Chinese contract manufacturer, has sought permission to establish a new factory in India, reported Reuters. Luxshare already operates two plants in the country, but approval for the additional facility is still pending with Indian authorities. Chandrasekhar, however, stated that he had no knowledge of Luxshare's application.
