India may review stance on Chinese investments to help firms relocate

BENGALURU, Dec 30 (Reuters) – The Indian government may reassess its stance on Chinese investment to help global companies looking to relocate to the country, CNBC-TV18 said on Friday. Reported by citing sources.

Several global companies are seeking a China plus one strategy to avoid supply chain bottlenecks as the world’s second largest economy grapples with a surge in COVID-19 infections.

CNBC-TV18 reported that the multinational is eager to pursue manufacturing in India, but wants to continue with existing Chinese joint ventures.

iPhone maker Apple hopes to allow China’s BYD to sign a joint venture with an Indian firm to move iPad production to India, a move the government may consider. says the report.

The government may allow joint ventures with Chinese companies in areas where India does not have technical expertise, the report said.

India and China have maintained frosty relations after June 2020 saw their worst border dispute since 1962.

After the clash, India blocked the state from participating in government tenders, forced Chinese companies investing in India to seek approval, and banned dozens of Chinese apps. (Reporting by Nallur Sethuraman in his Bangalore; Editing by Sriraj Kalluvila)

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