There will be status quo with regard to the MoUs, worth more than Rs 5,000 crore, the Maharashtra government had signed with three Chinese companies on June 15, Industries Minister Subhash Desai on Monday, a move that comes in the backdrop of the Ladakh clash.
Desai, however, clarified that the status quo does not mean cancellation of the MoUs relating to projects worth Rs 5,020 crore.
According to an official statement, Desai said the state government is awaiting clear policy decision regarding the projects in the present condition.
The relationship between India and China has come under severe strain following a violent face-off between the troops of the two countries in the Galwan Valley in Ladakh, in which 20 Indian Army personnel were martyred.
The MoUs were signed last Monday under the Magnetic Maharashtra 2.0 investor summit, hours before the face-off took place.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Over 50 onion farmers detained in Nashik ahead of PM Modi's visit
May 16, 2024 11:14 AM
Why Google CEO is cautiously optimistic about the election year
May 16, 2024 9:51 AM
Mark Mobius reveals how markets will react if NDA wins 400+ Lok Sabha seats
May 15, 2024 8:09 PM