No change in Chinese investment proposals: Home Ministry

Despite the ongoing Doklam crisis, the most serious military face-off between Indian and China in three decades, the Indian government has no plans to single out the investment proposals of Chinese firms, a Home Ministry official said on Thursday.

"The clearance of al applications regarding investment proposals received is done on the basis of well-established procedures laid down in the past. There is no change in the policy," said the official who requested anonymity.

He was responding to a question whether the government, against the backdrop of the Doklam standoff, was planning "to go slow" in giving security clearance to Chinese companies eager to invest in India for expanding business.

The issue to put on hold security clearance given to Chinese investment proposals was "not under any consideration", he addd.

The standoff between troops of India and China at Doklam area started after Bhutan, which has close diplomatic and military ties with India, protested to Beijing about People's Liberation Army troops building a road in the strategic location close to the chicken neck tri-junction.

The Union Home Ministry is the nodal authority providing security clearance to foreign investment under the National Security Clearance Policy. A total of 14-15 parameters are fixed in eight to nine sensitive areas such as telecom, ports and civil aviation. It has also spelt out locations where foreign investment is not welcome such as those close to the border and vital installations.

According to the data provided by the Commerce and Industry Ministry, China invested $1.64 billion (Rs 10,094 crore) from April 2000 to March 2017. Chinese companies have invested mostly in telecom, power, engineering and infrastructure sectors while several have also shown an interest in setting up industrial parks in India.

--IANS

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