Home / Economy / News / Border backlash: India may put on hold FDI proposals of 6 Chinese firms

Border backlash: India may put on hold FDI proposals of 6 Chinese firms

Home Ministry received more than 20 proposals for foreign direct investment, including from China and Hong Kong, requiring security clearance between April and May.

Premium

Noida: Workers of Bhartiya Kisan Union (Bhanu) burn a photo of Chinese President Xi Jinping during a protest against the killing of 20 Indian Army soldiers in a violent face-off with Chinese troops at Galwan Valley. Photo: PTI

Shrimi Choudhary New Delhi

3 min read Last Updated : Jun 22 2020 | 8:02 AM IST

In sync with the current sentiment, the Union home ministry is likely to stall security clearance to a clutch of Chinese companies seeking to invest in India, according to officials close to the development.

The Ministry of Home Affairs (MHA) received more than 20 proposals for foreign direct investment (FDI), including from China and Hong Kong, requiring security clearance between April and May.

“We are vetting some of these proposals which have come from various sectors. One of the applications is from a well known start-up,” an official said.

Six proposals for close to Rs 1,000 crore are under strict

Topics : FDI Foreign Direct Investment FDI China investment India China border row

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in