The Economic Times daily, citing sources, claimed on Wednesday that the Indian government is open to allowing Chinese corporations to enter the nation’s high-tech electronics industry if they build up production units in partnerships with local enterprises.
According to the newspaper, a joint venture (JV) request might be approved if the Indian partner owns a majority interest and controls the board, albeit it said that no restrictions had been set in stone.
According to the article, which cited an official who requested anonymity, the government is working with the business community to identify 50 to 60 Indian companies that would be interested in forming joint ventures with firms from South Korea, Taiwan, and Vietnam in addition to Chinese firms.
An Indian government spokeswoman did not immediately answer a Reuters inquiry for comment.
As political tensions increased following a border incident in 2020, Chinese businesses have found it challenging to conduct business in India.