India opened its door to China..? Modi's Sudden Decision..?

Sowmiya Sriram
India opened its door to China..? Modi's Sudden Decision..?

Starting from india to the United States, Chinese companies and companies related to china have been severely banned and the investment and trade markets have been constructed to such an extent that they cannot invest even a single penny, the Union government led by prime minister Modi has suddenly opened the door for Chinese companies.
Why this sudden permission..? The central government's decision is seen as very important as the indian investment market continues to see outflows and the rupee is awaiting a historic correction of Rs 80. In the Foreign Investment Permits under the control of prime minister Modi and Finance minister Nirmala Sitharaman, on june 29 alone, india has given permission to about 80 Chinese foreign investment projects and approved the investment.
Since the day when the two armies clashed on the India-China data-border, china has imposed heavy restrictions on businesses and blocked more than 300 apps. At the same time, the central government imposed new restrictions on investments related to countries with which india shares its data-borders. In other words, china, which shares a data-border with india, had declared that investments from countries like Nepal, Sri Lanka, and bangladesh cannot be allowed directly and must be approved separately from the DPIIT organization under the Union Finance Ministry.
After these restrictions, 382 investment applications related to china and Chinese companies were accumulated. 80 applications have been approved on june 29, according to the RTI query. Market experts said the central government has scrutinized Chinese investment applications and approved only small-scale stake acquisition plans in a dominant indian company.
Similarly, e-commerce seems to be giving priority to investment in the manufacturing sector beyond financial services.With the rapid outflow of foreign investments from the indian market, the influx of Chinese investments could save the indian rupee from further depreciation. It seems that this may also be a reason for the approval of these 80 applications by the Union Government.
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