China Objects To India's New FDI Norms

Says fresh restrictions on Chinese investments violate WTO rules

- Geeta Mohan

China on Monday raised objections to India's Department for Promotion of Industry and Internal Trade (DPIIT) revising its foreign investment policy. The government has now made it much more difficult for companies from countries sharing a land border with India, including China, to invest in the country.

The revision in policy is being seen as a response to reports about Chinese attempts to take over companies in stress due to the coronavirus lockdown and ongoing cycle of economic slowdown in India.

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Spokesperson of the Chinese Embassy in India Counselor Ji Rong, in a statement, said, The additional barriers set by the Indian side for investors from specific countries violate WTO's principle of non-discrimination, and go against the general trend of liberalization and facilitation of trade and investment.