Home World News India’s new FDI rules violate WTO principles – China

India’s new FDI rules violate WTO principles – China

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FDI regulation in India, FDI rules India
Foreign direct investments

India’s new FDI rules for foreign investment violate WTO principles of non-discrimination and are against free and fair trade, a Chinese embassy spokesperson in New Delhi said on Monday.

On Saturday, India stepped up scrutiny of investments from companies based in neighboring countries, in what is widely seen as a move to stave off takeovers by Chinese firms during the coronavirus outbreak.

The impact of the policy on Chinese investors is clear,” spokesperson of the Chinese embassy Ji Rong said in a statement.

India’s trade ministry said in a notification dated April 17 the changes to federal rules on investment were meant to curb “opportunistic takeovers/acquisitions”. It did not mention China.

Also Read: New FDI regulations in India to restrict automatic investments mainly China

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