Chinese embassy spokesperson urges India to treat investments equally

NEW DELHI (Xinhua) – A spokesperson of the Chinese embassy in India on Monday urged India to treat investments from all countries equally and revise relevant discriminatory practises.

“We hope India would revise relevant discriminatory practices, treat investments from different countries equally, and foster an open, fair and equitable business environment,” Counsellor Ji Rong said in a statement published on the website of the Chinese embassy in India.

India’s Department for Promotion of Industry and Internal Trade has recently revised its foreign investment policy, making it much difficult for companies from countries sharing land border with India, including China, to invest in the country.

As of December 2019, China’s cumulative investment in India has exceeded USD8 billion, far more than the total investments of India’s other border-sharing countries.

“The impact of the policy on Chinese investors is clear,” Ji said.

“Chinese investment has driven the development of India’s industries, such as mobile phone, household electrical appliances, infrastructure and automobile, creating a large number of jobs in India, and promoting mutual beneficial and win-win cooperation,” he said.