No Chinese company has been approved for investment in India and no proposal has been accepted. Government sources said this on Tuesday. Sources also denied this report, stating that China’s proposals are being approved after tensions on the border are cut. Sources said, “The proposal of only three companies based in Hong Kong was approved in the meeting held on 22 January. This proposal was from Citizen Watches, Nipon Paints and Netpley. Out of these three, two companies are Japanese while one belongs to NRI (NRI). Notification was issued on 5 February 2021 for these proposals.Sources emphasized that the central government has kept a very strict FDI policy. It has been revised and according to the amendment, every investment proposal coming from all the countries sharing its border with India will be assessed for safety. These countries will have to go through India’s security standards, only then they will get permission for this. The security aspect of investment proposals is looked after by the Union Home Ministry.There were reports that some proposals, including Great Wall and SAIC, have been approved, which the sources have denied. He said that whatever proposals are in the pipeline, they will have to go through strict security standards. It will be seen whether the Chinese government interferes with them or not. What are the complexities in terms of security, etc. Only then they will be allowed to proceed.
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