In a major escalation of pressure with China, the federal government late Friday modified guidelines to allow curbs on bidders from international locations that share a land border with India “on the grounds of defence and national security”.
Though the order doesn’t identify any nation — as in the case of the April 17 order that blocked FDI by way of the automated route from the identical set of neighbours — it’s clearly geared toward scrutinising and imposing curbs on Chinese investments and partnerships in Indian initiatives.
The new guidelines search to dam provide of stationery, generators and telecom tools in addition to award of highway and energy contracts to companies which have a hyperlink with China. The transfer follows a latest ban on 59 Chinese apps and comes in the backdrop of the continued navy stand-off in Ladakh the place Chinese forces are dragging their toes over pulling again after partly complying with mutual agreements to disengage. Indian navy commanders and prime diplomats have unambiguously conveyed to China that established order have to be restored and India will do all it could possibly to safeguard its sovereignty. Read More…
