[ad_1]
New Delhi:
The authorities has obtained over 120 international direct funding (FDI) proposals value about Rs 12,000 crore from China since April, when it was made obligatory for an organization from nations sharing land border with India to put money into any sector solely after getting authorities approval, sources stated.
As per that call, FDI proposals from China want authorities approval for investments in India in any sector.
An inter-ministerial committee has been fashioned by the federal government to scrutinise these proposals, they stated including a lot of the investments are for brownfield tasks (means in current Indian firms).
In April this yr, the Department for Promotion of Industry and Internal Trade (DPIIT) got here out with a press word stating that an organization or a person from a rustic that shares land border with India can put money into any sector right here solely after getting authorities approval.
The determination was taken to curb opportunistic takeovers or acquisitions of home corporations as a result of present COVID-19 pandemic.
“We have received 120-130 FDI proposals from China, worth about Rs 12,000 crore – Rs 13,000 crore,” the sources informed information company Press Trust of India.
India obtained FDI from China value USD 2.43 billion (Rs 15,526 crore) between April 2000 and September 2020.
The sources additional informed information company PTI that sure Chinese firms have utilized for registration for bidding in authorities contracts and people proposals have been despatched to the Home Ministry.
There are not any restrictions on Chinese corporations for bidding in tasks funded by multilateral establishments, they stated.
(Except for the headline, this story has not been edited by NDTV employees and is printed from a syndicated feed.)
[ad_2]
Source hyperlink