homephotos Newseconomy NewsIndia’s 5 push back measures against China’s economic influence

India’s 5 push back measures against China’s economic influence

SUMMARY

India had recently said that it would defer the imposition of a licensing requirement for imports of laptops, tablets and personal computers by three months - partially reversing the surprise decision it announced a few days earlier.

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By CNBCTV18.com Aug 8, 2023 2:55:25 PM IST (Updated)

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India had recently said that it would defer the imposition of a licensing requirement for imports of laptops, tablets and personal computers by three months - partially reversing the surprise decision it announced a few days earlier. (Image: Pixabay)

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While India has not said the new requirement is aimed at China, more than half of its roughly $10 billion in annual imports of personal computers and tablets are Chinese-made. (Image: Reuters)

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Relations between the countries have deteriorated since mid-2020 when Chinese and Indian troops clashed on their disputed Himalayan frontier and 24 people were killed. (Image: Reuters)

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According to a Reuters report, several Indian government officials said the licensing measure aimed to address a trade imbalance with China. Here are some Chinese trade and investment ventures affected by Indian actions since 2020: (Image: Reuters)

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INVESTMENT PLAN BY BYD: China's BYD told its India joint-venture partner last month it would shelve plans for a new $1-billion investment to build electric cars after its investment proposal faced scrutiny from New Delhi. (Image: Reuters)

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GREAT WALL MOTOR INVESTMENT PLAN: Great Wall Motor shelved plans last year to invest $1 billion in India and laid off all employees there after failing to obtain regulatory approvals. (Image: Reuters)

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XIAOMI ASSET FREEZE: India's federal financial crime agency has frozen $670 million of Xiaomi's bank assets since last year, posing a significant challenge to the smartphone maker. The agency alleges that Xiaomi made illegal remittances to foreign entities in the name of royalties. The company denies wrongdoing. (File Photo: IANS)

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MOBILE APPS BAN: Citing data and privacy issues, India has banned about 300 Chinese mobile apps including popular ones such as the battle-royale format game from Krafton Inc, a South Korean company backed by China's Tencent. (Image: Reuters)

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NEW INVESTMENT VETTING RULES: In 2020, India stepped up scrutiny of investments from companies based in neighbouring countries by adding an extra layer of vetting and security clearances, in what was widely seen as a move to stave off takeovers and investments by Chinese firms. It has led to billions of dollars in proposed investment getting stuck in the approval process over the last 3 years. (Image: Shutterstock)

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