More than 1,600 Indian companies have received foreign direct investments worth $1 billion from China during the April 2016 to March 2020 period, according to government data.
The data was provided in a written reply to the Rajya Sabha on Tuesday to a question on whether it is a fact that large scale investments have been made by Chinese agencies in Indian companies, specially the start-ups.
Over 1,600 companies received $1,020.25 million ($1.02 billion) Foreign Direct Investment (FDI) equity inflows from China for the April 2016 to March 2020 period, as per the data.
These companies were in 46 sectors. Out of them, the automobile industry, printing of books (including litho printing industry), electronics, services and electrical equipment received more than $100 million FDI each from China during the said period.
The automobile industry received the maximum FDI from China at $172 million. The services sector attracted such funds worth $139.65 million, the data showed.
In the written reply, Minister of State for Corporate Affairs Anurag Singh Thakur said the corporate affairs ministry does not maintain information regarding the investment made by Chinese agencies.
He said the Ministry of Commerce & Industry has informed that FDI Data Cell compiles and maintains the data of FDI reported through equity inflow in the country.
The relevant data for the April 2016 to March 2020 period was provided along with the written reply.
Indian and Chinese troops are engaged in a standoff along the Line of Actual Control (LAC) in eastern Ladakh.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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