Recently, some changes were made by India in the FDI rules, and China's recent changes have been seen to be somewhat stung. China has accused India of violating the World Trade Organisation (WTO) rules on these changes in the rules.
China's response:
In fact, India has tightened the changes in FDI by India. In the new rules, China will have to first seek permission from India to make any investment in India. India's decision was not liked by China. The Chinese reacted by objecting to the recent stung Chinese, and were, "India has violated the Rules of the World Trade Organisation (WTO) by formulating new FDI rules. It is different from the new WTO and is also against fair trade."
China Embassy spokesman says:
China Embassy spokesperson Ji Rong has issued a statement stating that the ban on investment in specific countries imposed by India violates WTO's non-discriminatory principles. At the same time, this change is against the general nature of liberalization, promotion of business, and investment. The new policy, which India has imposed by changing the rules, is against the consensus for an independent fair non-discriminatory and transparent environment for the Investment of G20 group.
India didn't take China name:
The notification issued by India by changing the rules was not clearly named after China. The information on the new rules implemented by India says that countries bordering India will not be able to invest in India without the permission of the Government of India. For information, the countries bordering India are China, Bangladesh, Pakistan, Bhutan, Nepal, and Afghanistan.
New Rules decided by India:
As per the new rule laid down by India, no country bordering India will be able to invest in India without the permission of the Government of India, i.e., investments from China, Bangladesh, Pakistan or companies will have to seek permission from the Government of India first to invest in India. To know in detail, the new rules implemented by India, click here.
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