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China investment proposals on hold, not scrapped yet: Maharashtra minister

State is awaiting Central policy on the issue in light of Galwan standoff in which 20 Indian soldiers were killed

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The three Chinese companies committing investment in Maharashtra include - Great Wall Motors ( Rs 3770 crore), joint venture of PMI Electro Mobility Solutions and Foton ( Rs 1000 crore) and Hengli Engineering (Rs 250 crore)

Aneesh Phadnis Mumbai
The Maharashtra government has put on hold Rs 5,020 crore worth of investment proposals from China, as it awaits a central policy on the issue.

Last week, the state government had signed memoranda of understanding (MoUs) for investments worth Rs 16,000 crore from domestic and foreign investors. These included agreements with three Chinese companies in the auto, electric mobility, and engineering segments.

But in view of heightened tensions along the Line of Actual Control (LAC) with China and the death of 20 Indian soldiers, the state government has decided to wait for a central policy on Chinese investments.

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First Published: Jun 22 2020 | 6:57 PM IST

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