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India Rebuffs Chinese FDI; Rejects 58 Applications | BYD’s $1Bn Investment Bid Foiled | Report
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India recently rejected a billion Chinese dollars ... moreIndia recently rejected a billion Chinese dollars in investment.
Chinese EV major BYD wanted to invest a billion dollars in India. It even had a local partner lined up, the privately held Hyderabad-based Megha Engineering and Infrastructures.
To sweeten the pot, the Chinese also offered to build charging stations across the country, construction of research and development facilities and training centres. But India said no.
According to a Business Today report India has said no to 58 FDI proposals from Chinese companies or individuals in last 3 years. Watch the video to find out why.
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