Chinese investment is increasing in India as their companies are showing significant interest to invest in India in a wide range of sectors since the launch of Make in India campaign.
This information was given by the Commerce and Industry Minister Nirmala Sitharaman in a written reply in Lok Sabha today.
She also said that as per data maintained by DIPP/RBI, between April, 2000 and December, 2016, cumulative FDI inflows from China or Chinese investment were INR 9,933.87 crores. Of the cumulative FDI equity inflows, 77.9% have been received since 2014 as detailed below:-
2014-2015: INR 3,066.24 Crores
2015-2016: INR 2,975.14 Crores
2016-2017(till December, 2016): INR 1,696.96 Crores
Chinese investment details sought in Lok sabha:
Sitharaman also said that an MoU between the Ministry of Commerce of the People’s Republic of China and Ministry of Commerce & Industry of India has been signed on cooperation on Industrial Parks in India on 30th June, 2014 in Beijing.
Pursuant thereto, she said, that a Joint Working Group (JWG) of the Indian side was constituted on 16th July, 2014 to act as the nodal point to identify and agree upon the detailed modalities for implementing cooperation under the said agreement, and to periodically review progress.
Three JWG meetings have so far been held. The last meeting of JWG was held on 2.11.2016 at Beijing, China. It was decided during the meeting that both sides will encourage all stakeholders to expedite the implementation for which all necessary facilitation would be provided.
The Minister also said that the below MoUs have been signed between Indian State Government Agencies and Chinese Investors for development of Industrial Parks in States:-
a. MoU between Maharashtra Industrial Development Corporation (MIDC), Govt. of Maharashtra and Beiqi Foton Motors, China for Auto Industrial Park in Pune;
b. MoU between Industrial Extension Bureau (iNDEXTb), Govt. of Gujarat and China Development Bank Corporation (CDB), China for supporting the setting up of Industrial Parks in Gujarat;
c. MoU between Industrial Extension Bureau (iNDEXTb), Govt. of Gujarat and China Small and Medium Enterprises (Chengdu) Investment Limited (CSME) to set up multi-purpose Chinese Industrial Park in Gujarat;
d. MoU between HSIIDC, Govt. of Haryana and Dalian Wanda Group for development of an integrated Entertainment Park-cum-Industrial township in Haryana;
e. MoU between HSIIDC, Govt. of Haryana and China Fortune Land Development (CFLD) for development of an Industrial Park in Haryana.
Chinese investment is often seen with suspicion as the nation shares close ties with Pakistan while its army’s regular incursions have also become a source of suspicion.
