Trump will be unhappy with this 200 number as India makes things easier for China, takes this big step to…
New Delhi: US President Donald Trump has invited trouble without any effort. His move to put pressure on India seems to be backfiring. The whole game has suddenly changed with India and China coming closer in the tariff war. Now India has done something that can hurt Trump a lot. The government is making it easier for China to invest money in India. This is a big sign of improvement in the relations between the two countries. All this is happening at a time when Trump has imposed an additional tariff of 25% on India. This will increase the tariff on Indian goods in America to 50% from August 27. Trump has imposed this tariff due to buying Russian oil.
What is the government doing to settle the Chinese FDI?
The government is preparing to quickly settle the FDI (Foreign Direct Investment) proposals coming from Chinese companies. For this, the government has given instructions to simplify the approval process. According to sources, the Inter-Ministerial Committee (IMC) headed by the Home Secretary will now work on these proposals expeditiously. A meeting of the IMC was also held last week.
A senior official said, “We have clear instructions. Reduce the time taken to process applications.” According to sources, proposals from non-critical sectors like renewable energy, manufacturing and electronics are still being considered. Dixon Technologies’ FDI proposal is also under review. It includes two Chinese partners.
200 FDI proposals are awaiting approval
Under Press Note 3, about 200 FDI proposals from China are pending. According to this rule, approval has to be taken from the government before investing in countries sharing a land border with India. The government can dispose of them quickly after getting approval from the IMC and the Cabinet Secretariat.
Many Chinese companies have been waiting for their proposals to be approved for a long time. However, officials have also made it clear that this move should not be seen as India’s soft stance towards China. A source said, “India’s engagement with Chinese FDI should not be seen through the prism of its relations with the US.”
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