Connect with us

Asia Pacific

Amid Hostile Chinese Economic Activities, India Tightens FDI Norms For All Neighbors

Published

on

In a move to curb hostile and opportunistic takeover of Indian conglomerates at a time of falling share prices due to the outbreak of coronavirus pandemic, the Indian Government has stepped in and introduced stricter FDI norms for entities or individuals of a country that shares a land border with India.

Is China Planning To Attack Taiwan When US, Europe Are Busy With Covid-19?

The move is seen as a counter to block deep-pocketed Chinese entities from advancing its economic print further in the country. On Friday, India’s Ministry of Commerce and Industry moved a notification amending its Foreign Direct Investment (FDI) policy that restricted foreign investment from entities of countries that shares a land-border with India from investing without prior Government approval.

The development comes in the backdrop of the People’s Bank of China buying an additional equity stake in India’s largest private home lender Housing Development Finance Corporation (HDFC). Various sections of Indian incorporation had warned the Central Government about increasing Chinese investments in vulnerable Indian companies.

Google, Microsoft To Move Out Of China; Vietnam, Thailand Set To Benefit The Most

Earlier this week, several European countries too tightened their FDI norms to prevent Chinese firms from taking over. Countries like Italy, Spain, and Germany that are reeling under the coronavirus outbreak tightened their FDI policy to prevent Chinese entities from taking over at a time of slump in economic activities caused by the pandemic that first emerged in Wuhan, China.

Even the United States and Japan have started monitoring and scrutinizing Chinese investments in the country.

According to a press note issued on April 17 by the Department for Promotion of Industry and Internal Trade (DPIIT), the Ministry of Commerce and Industry of India said, “Government has reviewed the FDI policy for curbing opportunistic takeovers or acquisitions of Indian companies due to the Covid-19 pandemic.

Residents Of Pak-Controlled-Kashmir Urge PM Modi For Help; Opening Of Rajouri Border

A non-resident entity can invest in India, subject to the FDI policy except those sectors/activities which are prohibited. However, an entity of a country that shares a land border with India or where the beneficial owner of investment into India is situated in or is a citizen of any such country, can invest only under the Government route.

Further, a citizen of Pakistan or Bangladesh or an entity incorporated in Pakistan or Bangladesh can invest, only under the Government route in sectors/activities other than defense, space, atomic energy and sectors/activities prohibited for foreign investment.

In the event of the transfer of ownership of any existing or future FDI in an entity in India, directly or indirectly, resulting in the beneficial ownership falling within the restriction/purview of the mentioned sectors, such subsequent change in beneficial ownership will also require Government approval.”

Harpoon Missiles For The Indian Navy – Efficient, But Not Really A Game-Changer: Experts Analysis

The amendment is clearly aimed at targeting Chinese investments as economic inflows into India from Pakistan and Bangladesh already require Government approval while cash inflows from other the neighbouring countries such as Afghanistan, Myanmar, Nepal, and Bhutan are insignificant to deem them as financial threats.

The amendment is to come into effect from the date of notification under the Foreign Exchange Management Act.

Even India’s financial market regulator Securities Exchange Board of India (SEBI), had also scrutinized equity transactions into Indian firms from Chinese entities since the assets are being purchased at lower valuations as a result of a slump in economic activity due to coronavirus pandemic.

Russian Anti-Satellite Test Shocks The US; Seeks Weapons To Jam Russian, Chinese Satellites

Several Chinese entities such as Tencent and e-commerce behemoth Alibaba already own stakes in India’s two major online companies Flipkart and Paytm.

As per the India-China Economic and Cultural Council citing the Gateway House, Chinese venture capitalists have parked around $4 billion of greenfield investments in Indian start-ups. Almost 18 out of the 30 Indian unicorns are funded by Chinese organizations.

Advertisement

Asia Pacific

India, China Agree To Withdraw Troops From LAC; The Question Is Who Will Pull-Out First?

India, China have agreed to withdraw their frontline soldiers from the Line of Actual Control after elongated discussions between Indian NSA Ajit Doval and Chinese Foreign Minister Wang Yi. Experts have questioned – who will withdraw first – Indian or Chinese soldiers?

Published

on

India and China have agreed to withdraw troops from the contested Line of Actual Control, the de-facto India-China border region, after Chinese Foreign Minister Wang Yi and Indian National Security Advisor Ajit Doval spoke on Sunday night.

Pakistan Undoubtedly The Biggest Beneficiary Of India-China Military Stand-Off – Experts

The Chinese Foreign Ministry released the contents of the discussion which revealed that India and China had reached an agreement on four key points. One is that they agreed to take guidance from the important accord reached by the top leaders (Modi and Xi), which attaches great significance to the stability of the border areas with the development of bilateral relations, and put border disputes in a proper perspective to evade heightening the border clashes writes the Chinese state media – the Global Times.

India and China also welcomed the progress achieved in the recent military and diplomatic meetings, agreed to stay in dialogue and consultation and emphasised the necessity to act on the agreement reached in the commander-level talks and to complete withdrawal of the front-line soldiers as soon as possible, according to the FM release.

International Report On Galwan Valley Clash Emerges As Families, Soldiers Share The Horrific Incident

In response to a question on whether China has withdrawn troops from the contested Galwan Valley, Foreign Ministry Spokesperson Zhao Lijian said that both sides have agreed on disengagements of border troops. “We hope the two sides could meet each other halfway in implementing these agreements,” Zhao said.

The present talks between China and India strive to prevent the border situation from worsening any further, and it is an agreement reached by the two sides to defuse the tensions, Qian Feng, director of the research department of the National Strategy Institute at Tsinghua University.

Galwan Valley Clash: Top Indian General Decodes Why India Lost 20 Soldiers In India-China Border Conflict

“Meetings of China-India Special Representatives are the top political measures to handle the border issues, only second to the summit of leaders from the two countries, and it is safe to say that the special representative agreements send a positive signal to ease border tensions,” Zhao Gancheng, director of the Center for Asia-Pacific Studies at the Shanghai Institute for International Studies said.

CPEC Project A ‘Trillion-Dollar Blunder’, Pakistan Calls It ‘Outstanding Initiative’

The details of the pact, such as who will withdraw first – Indian or Chinese soldiers could be carried out in a “silent” manner, to avoid instigation public sentiments or provoking unreasonable emotions, especially in India, Zhao stated.

The India media reports that Chinese PLA troops have moved back tents, vehicles and soldiers by few kilometres from locations where disengagement was agreed upon at Corps Commander-level talks have not been confirmed by the Chinese officials.

Via: The Global Times

Continue Reading

Asia Pacific

On Dalai Lama’s 85th Birthday, Is It Time For India To Reset ‘One China’ Policy?

Published

on

As the Tibetan leader Dalai Lama celebrates his 85th birthday, there is a debate amongst experts whether India should reset its ‘One China’ policy. The discussions began after a host of Indian politicians sent wishes to His Holiness The 14th Dalai Lama in the midst of the feud with China. 

FACT CHECK: 100 Chinese Soldiers Killed In India-China Border Clash At Galwan Valley?

The ‘One China’ policy is the diplomatic acknowledgement of China’s position that there is only one Chinese government. Under the policy, countries recognise and have formal ties with China rather Taiwan and consider disputed territories such as Tibet, Xinjiang and Hong Kong an inseparable part of China.

For years, India has maintained a low profile when it comes to Tibetan politics and gone at lengths to ensure that the ‘One China’ policy is not violated. In 2018, the Government of India ordered its officials to stay away from a rally marking 60 years of Dalai Lama in India.

Tibet has been a bone of contention between New Delhi and Beijing since 1959 when Dalai Lama escaped to Assam after a failed revolt against the Chinese. After India gave him refuge and allowed an exiled Tibetan government to operate from Dharamsala, China has viewed India with suspicion and blamed New Delhi for supporting anti-China activities.

According to experts at EurAsian Times, the fact that Indian politicians today extended wishes to Dalai Lama mark a major departure from India’s policy from two years ago.

Birthday greetings were sent by Kiren Rijiju, Minister of State for Youth Affairs and Sports, Pema Khandu, chief minister of Arunachal Pradesh, RK Mathur, the lieutenant governor of Ladakh.

India should make Tibet a Key Issue

Speaking to Economic Times, Lobsang Sangay, President of the Central Tibetan Administration (CTA) said that India should make Tibet one of the key issues in Sino-India policies. Similar views are shared by Indian experts who believe it is time India re-assessed its ‘one China’ policy.

The 51-year old spoke about the strategic significance of Tibet — historically, geopolitically, culturally and ecologically as Tibet is the water tower of Asia and stressed on the importance of Tibet in being part of Indian policies with regards to China.

India is home to the largest Tibetan population in exile and has always found support from the community whenever New Delhi has clashed with Beijing.

Recently, Indian-Americans, Tibetan-Americans and Taiwanese-Americans took to the streets in New York to protest against increased Chinese aggression in the midst of a global pandemic. The group held placards of “Boycott China” and “Stop Chinese Abuse” as they shouted slogans against the country.

India is not the only country at the receiving end of Chinese aggression. Beijing has also clashed with Bhutan, Vietnam, Philippines, Malaysia, Japan, Taiwan and the United States.

The Sino-Indian dispute in Ladakh seems to have cooled down after both countries retreated and established a 4-kilometre no-man zone earlier today. The dispute with China in Ladakh has been going on since the first week of June and so far has resulted in the death of 20 Indian soldiers and unconfirmed numbers on the Chinese side.

Continue Reading

Asia Pacific

Bubonic Plague: China On ‘High Alert’ After Suspected Cases Of Bubonic Plague Reported 

The suspected cases of bubonic plague were reported on Saturday by a hospital in Bayannur, China. Two cases of the bubonic plague were reported from the same area less than 8 months ago.

Published

on

After COVID-19, Bubonic Plague has got China and the world worried. China is on high alert after suspected cases of bubonic plague were reported.

China Claims Territories In Bhutan, Raises Another Border Conflict With ‘Saviour’ India

The suspected cases of bubonic plague were reported on Saturday by a hospital in Bayannur, China. Two cases of the bubonic plague were reported from the same area less than 8 months ago.

The confirmed cases are a 27-year-old resident and his 17-year-old brother, who are being treated at two separate hospitals in their province. Reports indicate that the duo ate marmot meat. A total of 146 people who had contact with them have been isolated and treated at local hospitals.

According to state-run People’s Daily Online, Bayannur, Inner Mongolia Autonomous Region, announced a level III warning of plague prevention and control. The local health authority announced that the warning period will continue until the end of 2020.

“At present, there is a risk of a human plague epidemic spreading in this city. The public should improve its self-protection awareness and ability, and report abnormal health conditions promptly,” the local health authority said.

The commission also issued an advisory for residents in the area to prevent people-to-people infection including not to hunt and eat animals that could cause plague infections.

Bubonic plague is a rare but serious bacterial infection transmitted by fleas from rodents and has the potential to be transmitted to other animals or humans. According to the World Health Organization, bubonic plague can kill an adult in less than 24 hours if not treated in time.

There are three types of plague, a bacterial infection caused by Yersinia pestis: septicemic, which spreads in the blood; bubonic, which affects the lymph nodes; and pneumonic, which affects the lungs.

The news about the deadly disease comes a week after Chinese researchers issued an early warning over another potential pandemic caused by an influenza virus in pigs. From 2010 to 2015, there have been over 3,200 reported cases of bubonic plague, which resulted in 584 deaths.

According to the American Centers for Disease Control and Prevention (CDC), the bubonic plague was responsible for wiping out millions in medieval Europe before spreading to Asia and Africa in the 14th century.

Continue Reading
Advertisement

Facebook

FEATURED

india-china-border-conflict india-china-border-conflict
Featured9 hours ago

NSA Ajit Doval Behind Chinese Army Withdrawal & Diffusing India-China Border Tensions

Ajit Doval, India’s fifth National Security Advisor, is popular amongst Indians and is often referred to as the Indian James...

dalai-lama dalai-lama
Asia Pacific11 hours ago

On Dalai Lama’s 85th Birthday, Is It Time For India To Reset ‘One China’ Policy?

As the Tibetan leader Dalai Lama celebrates his 85th birthday, there is a debate amongst experts whether India should reset...

eurasian-times eurasian-times
Featured14 hours ago

India-China Border Update: Chinese PLA Troops Moves Back Few Km In Galwan Valley – Reports

India-China Border News: Twenty Indian soldiers were killed violent face-off in Galwan valley on June 15-16 after an attempt by...

Pakistan-Economy Pakistan-Economy
Featured16 hours ago

8 Lakh Indians Could Be Expelled From Kuwait; A Direct Loss Of $5B To Indian Economy

Gulf News reported that 'this could result in 800,000 Indians leaving Kuwait, as the Indian community comprises the biggest expat...

CHINA-FLAG CHINA-FLAG
Asia Pacific16 hours ago

China Claims Territories In Bhutan, Raises Another Border Conflict With ‘Saviour’ India

China-Bhutan Border Conflict - China made these claims over Bhutan while opposing a request to develop the Sakteng wildlife sanctuary...

china-hong-kong china-hong-kong
Asia Pacific1 day ago

Japanese Analyst Rips-Apart China’s Double Game Of ‘Gentle Statements & Wicked Actions’

Behind this whole issue lies, of course, the overarching enigma of how best to deal with a belligerent China that...

ashar-ghani ashar-ghani
Featured2 days ago

Afghanistan President Ashraf Ghani’s Cousin Shot Dead In Kabul- Unconfirmed Reports

A cousin of Afghanistan President Ashraf Ghani found shot to death inside his home in Kabul, Afghanistan Media informed.

US-China-Trade-War US-China-Trade-War
Americas3 days ago

US To Conduct Biggest War Drills In South China Sea Amid India-China Border Tensions

The war-drills by the two aircraft carriers and four other warships comes after China expanded flights near Taiwan, engaged a...

INDIA-CHINA-WAR INDIA-CHINA-WAR
Asia Pacific3 days ago

Ladakh Now, Kashmir Next: Why India-China War Is An Attractive Option For Many In India?

I now believe that a big event is needed for the resolution of the Kashmir issue, and the India-China war...

Modi-Government Modi-Government
Featured3 days ago

In The Middle Of A Pandemic, Why Is India Planning Amarnath Yatra Pilgrimage?

Amarnath Yatra 2020: The annual pilgrimage will begin on July 21 and end on August 3, thus making it the...

Advertisement

Trending