Foreign Direct Investment (FDI) India is in no mood to give any concessions to China on the front of investment. Let us tell you that investments from China to India are controlled under the existing Foreign Direct Investment (FDI) policy and no changes have been made to it at the moment. FDI applications coming from countries like China, which share land border with India, have to compulsorily take government approval for all sectors. This policy was released in April 2020. Amardeep Singh Bhatia, Secretary, Department of Promotion of Industry and Internal Trade (DPIIT), said here, the policy regarding investment (from China) has been laid down in Press Note-3, so we are sticking to the same policy. At present there is no change in that policy. If there is any change, we will tell you.
Promoting ‘Make in India’
He said this in response to a question about Chinese investment in India to promote ‘Make in India’. Bhatia said that the sentiments of foreign investors towards India are positive. He said, investors are very excited about investing in India. The government had made its approval mandatory for FDI from countries sharing land border with India in 2020. Countries sharing land border with India include China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar and Afghanistan.
The government is not reconsidering anything
Commerce and Industry Minister Piyush Goyal on July 30 said the government is not reconsidering supporting foreign direct investment (FDI) from China. These comments are significant because the pre-budget Economic Review on July 22 suggested that instead of importing goods, focusing on FDI from China looks more promising. Of the total FDI inflows into India from April 2000 to March 2024, China is ranked 22nd with a share of just 0.37 per cent ($2.5 billion).
