financetom
Economy
financetom
/
Economy
/
India’s 5 push back measures against China’s economic influence
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
India’s 5 push back measures against China’s economic influence
Aug 8, 2023 5:56 AM

India had recently said that it would defer the imposition of a licensing requirement for imports of laptops, tablets and personal computers by three months - partially reversing the surprise decision it announced a few days earlier.

While India has not said the new requirement is aimed at China, more than half of its roughly $10 billion in annual imports of personal computers and tablets are Chinese-made.

Relations between the countries have deteriorated since mid-2020 when Chinese and Indian troops clashed on their disputed Himalayan frontier and 24 people were killed.

According to a Reuters report, several Indian government officials said the licensing measure aimed to address a trade imbalance with China. Here are some Chinese trade and investment ventures affected by Indian actions since 2020:

INVESTMENT PLAN BY BYD: China's BYD told its India joint-venture partner last month it would shelve plans for a new $1-billion investment to build electric cars after its investment proposal faced scrutiny from New Delhi.

GREAT WALL MOTOR INVESTMENT PLAN: Great Wall Motor shelved plans last year to invest $1 billion in India and laid off all employees there after failing to obtain regulatory approvals.

XIAOMI ASSET FREEZE: India's federal financial crime agency has frozen $670 million of Xiaomi's bank assets since last year, posing a significant challenge to the smartphone maker. The agency alleges that Xiaomi made illegal remittances to foreign entities in the name of royalties. The company denies wrongdoing. (File Photo: IANS)

MOBILE APPS BAN: Citing data and privacy issues, India has banned about 300 Chinese mobile apps including popular ones such as the battle-royale format game from Krafton Inc, a South Korean company backed by China's Tencent.

NEW INVESTMENT VETTING RULES: In 2020, India stepped up scrutiny of investments from companies based in neighbouring countries by adding an extra layer of vetting and security clearances, in what was widely seen as a move to stave off takeovers and investments by Chinese firms. It has led to billions of dollars in proposed investment getting stuck in the approval process over the last 3 years.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Fed's Collins says Fed can be patient on rates amid tariff uncertainty
Fed's Collins says Fed can be patient on rates amid tariff uncertainty
Feb 3, 2025
(Reuters) - Federal Reserve Bank of Boston President Susan Collins said Monday there's no urgency for the central bank to lower rates right now, as new trade tariffs announced by the Trump Administration could drive up inflation pressures. It's really appropriate for policy to be patient, careful, and there's no urgency for making additional adjustments, especially given all of the...
Factbox-Brokerages stick to slower pace of Fed rate cut forecasts after inflation report
Factbox-Brokerages stick to slower pace of Fed rate cut forecasts after inflation report
Feb 3, 2025
(Reuters) -Most brokerages continue to expect a slower pace of interest rate cuts from the U.S. Federal Reserve in 2025 after personal consumption expenditures (PCE) data came in-line with market expectations. Meanwhile, U.S. President-elect Trump imposed tariffs on Mexico, Canada and China that could potentially become a crucial factor in the Fed's future policy decisions. Data on Friday showed, the...
US Manufacturing Confidence Tops Forecasts, Yet Price Pressures Intensify, 'Could Become A Concern,' Economist Says
US Manufacturing Confidence Tops Forecasts, Yet Price Pressures Intensify, 'Could Become A Concern,' Economist Says
Feb 3, 2025
The U.S. manufacturing sector surprisingly returned to expansion in January, signaling renewed business optimism, though mounting input costs pose a growing inflation risk for the months ahead. Two key indicators tracking U.S. factory activity that were released Monday showed stronger-than-expected growth last month. The S&P Global U.S. Manufacturing PMI was upwardly revised to 51.2, exceeding the preliminary estimate of 50.1...
US construction spending beats expectations in December
US construction spending beats expectations in December
Feb 3, 2025
WASHINGTON (Reuters) - U.S. construction spending increased more than expected in December, boosted by single-family homebuilding, but high mortgage rates could curb further gains in new residential construction. The Commerce Department's Census Bureau said on Monday that construction rose 0.5% after an upwardly revised 0.2% increase in November. Economists polled by Reuters had forecast construction spending would advance 0.2% after...
Copyright 2023-2025 - www.financetom.com All Rights Reserved