Despite India’s crackdown on Chinese businesses and allegations that certain investment bids have halted, India is "open" to investments from China, according to minister Rajeev Chandrasekhar.
The claim by Chandrasekhar, minister of state for electronics and information technology, comes as India seeks to capitalise on global supply chains in a pivot away from China, wooing suppliers to multinational companies such as Apple.
“Is India open to doing business with Chinese companies?” Chandrasekhar was asked in an interview. “Of course we are.”
Over the past three years, India has prohibited more than 100 Chinese social networking, lending, and other apps, including TikTok, citing data protection and privacy concerns. In addition, New Delhi has opened regulatory investigations into the Chinese mobile phone makers Xiaomi, Oppo, and Vivo, alleging that they broke several tax, foreign exchange, and other regulations.
“We are open to doing business with any company anywhere as long as they are investing and conducting their business lawfully,” Chandrasekhar said.
Tensions began in 2020 after Indian and Chinese troops clashed along the Himalayan border. Prime Minister Narendra Modi said his government would halt relations with Beijing until “peace and tranquillity” were restored.
India also tightened its policy on foreign investments from bordering countries. Chandrasekhar said that the process did not target China, yet applied to other countries “in the neighbourhood”.