India Bans Chinese Companies and Chinese Investments in India
India Bans Chinese Companies and Chinese Investments in India. As the tension rises in the Ladakh region in India China border on Monday, with serious of i2i standoff between the Indian Army and the Chinese army. Now it leads to India banning Chinese companies in India.
The Indian Railways and the Department of Telecommunication have said to the state BSNL telecom company not to use or buy Chinese made equipment in its upgradation and in the future development, a top source told to Indian news media. Because of this entire tender will be reworked newly and they will be aiming for Indian companies.
Also said that duty has also planning to tell Indian private mobile service provider to reduce the Chinese dependency. Now security features products built by the Chinese companies are coming into or under that tough screen Patti. Huawei and ZTE could face uncertainty because of this. Even the permission of Huawei and ZTE 5G programs will be revoked. First sem China’s only presents Megaproject on the Railway has said to be terminated but Chinese mid railway signalling with the Chinese railway signal and communication Corporation.
Since the 2008 economic recession, china has seen as short price in its economic powerhouse hub. Which was helped by the declining of US money power and the worst is depending on the military in the Middle East. After every country engages with China India also did the same. Chinese investment in India is in the shop price recent years after Modi came to the prime Minister of India.
Chinese FDI in India stands over 2.34 billion dollars. Some observers and think tank say numbers could be more than we think the says it is over 6 billion dollars and other says it is 8 billion dollars. Plus the annual tourist inflow of 550 million dollars from China. A number of Chinese companies invested heavily in India are Alibaba, Xiaomi, Tencent, China-Eurasia Economic Cooperation Fund, Didi Chuxing, Shunwei Capital and Fosun Capital. Alibaba has invested in Paytm. China-Eurasia Economic Cooperation Fund and Didi Chuxing have invested in Ola. They also invested in some major Indian companies like Paytm, Ola, Snapdeal and Swiggy.
Alibaba has invested in Paytm heavily according to Indian media report Indian Express Chinese have invested over 5.5 billion dollars in Indian startups in the last 5 years. Bilateral ties between India and China have increased fastly from 2000 to 2018. Indus trade has reached 95.5 4 billion dollars from just 3 billion dollars.
The trade deficit for India in 2018 was 57.8 6 billion dollars just that in 2019 time is exposed India where 868 billion dollars will the imports to that 16.3 to billion dollars, this means India has a trade deficit of nearly 52 billion dollars. Another word for India’s dependency on the Chinese economy can be valued at 52 billion dollars. India has so much catching up to do with its exposed to China and reports have grown to 23 percentage in 2016 to 2019 against the growth of around 45% in import from the country.
While 5G is beginning to be involved now with India by the Chinese companies, it is clear now after the serious standoff in Ladakh, there is so much chance that Huawei 5G program will come to a halt in India. Already US President and Europe warned India before after China and Hawaii insolvency.
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