Indian govt likely to consider JVs with Chinese firms to help global firms produce in India
New Delhi/IBNS: The government may consider reviewing Chinese investments in India to facilitate multinational companies shift their manufacturing operations to India, CNBC TV18 reported.
Several of the global firms interested in setting up manufacturing units in India want to continue their existing Chinese joint ventures, says the report.
Many companies across the world want to move their production units from China to avoid supply chain disruptions--first due to prolonged lockdowns and now owing to a fresh surge in COVID-19 infections.
One of them is Apple, which wants China’s BYD to enter into a joint venture with an Indian company to shift the production of iPad to India and the government might consider the proposal, the report said.
The Indian government might allow partnerships with Chinese companies in the areas where India lacks expertise, the report added.
India-China relations have hit a roadblock, particularly after 2020 Galwan Valley clash, with India blocking the Chinese firms from participating in government tenders, compelling Chinese companies investing in the country to seek approvals and banning dozens of Chinese apps.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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