Given Beijing’s hegemonic three-fifths stake in the global electronics ecosystem, a top government official noted that Indian electronics production would probably see some cooperation with Chinese enterprises, indicating a relaxation of previously enforced stringent investment restrictions. “We want to grow our manufacturing capacity. So, some sort of collaboration with China is something we can’t avoid,” said the official, who declined to be named. “Therefore, we have to be strategic about what we do, and how we do it. But, it has to be done.”
Following the federal approval of a deal between domestic Dixon Technologies and Longcheer Intelligence Pte, a Chinese original design manufacturer, the official made these remarks.
According to reports, the Niti Aayog had earlier this month suggested allowing Chinese companies to purchase up to a 24% stake in Indian businesses without needing further security clearances. Guidelines issued by the Department for Promotion of Industry and Internal Trade, which have been in effect since 2020, require that foreign direct investment from nearby nations obtain prior security approval from the Ministry of External Affairs and the Ministry of Home Affairs.
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