new Delhi. The deteriorating relations with India have also affected the investment of Chinese companies. During the last three years, there has been a huge reduction in FDI investment of Chinese companies in India. This was revealed by a written reply given by the Minister of State for Finance Anurag Thakur to the Lok Sabha on Monday. According to the reply, while Chinese FDI in India was $ 350 million in 2017-18, it has come down to less than half to $ 163.77 million in 2019-20.
In fact, Lok Sabha MPs AKP Chinraj and S. Jagatrakshakan had asked the Finance Minister about the total investment of Chinese companies in various sectors of India during the last three years. In response to this question, Minister of State for Finance Anurag Thakur gave details of FDI of Chinese companies in the last three financial years.
He said that India received FDI of $ 350.22 million in 2017-18, while the next year it was reduced to $ 229.0 million in 2018-19. Whereas in 2019-20 there was a huge reduction in FDI from China to India. Only US $ 163.77 million was invested this year.
The MPs also asked whether the government thought of not allowing any Chinese firm to invest in India? On this, Minister of State for Finance Anurag Thakur denied any such thing in a written reply.
He said that the government has issued press note 3,2020 to control the takeover and acquisition opportunities of Indian companies due to the Kovid-19 global epidemic. Under the FDI policy, a non-resident entity can invest in India, except in areas and activities that are prohibited.
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