India open to Chinese investment despite border clash: MoS IT Rajeev Chandrasekhar

India is open to Chinese investment despite border clashes between the two countries, Minister of State for Electronics and Information Technology of India, Rajeev Chandrasekhar told the Financial Times in an interview.

He also mentioned that India is doing business with any company anywhere as long as they invest and conduct their business lawfully. This comes even as India has ramped up its scrutiny against Chinese businesses in the country.

"We are open to doing business with any company anywhere as long as they are investing and conducting their business lawfully and are in compliance with the Indian laws," Chandrasekhar told the FT, adding that India was "open to all investment, including Chinese".

Also Read: In FY23 FDI inflows fell 16% to $71 billion - the first dip in a decade

India has so far banned more than 300 Chinese apps including TikTok. The country has also rejected a $ 1 billion investment proposal of Chinese electric car maker BYD and its Hyderabad based partner Megha Engineering and Infrastructures Ltd (MEIL) to set up an electric vehicle manufacturing plant. India had reportedly rejected the investment due to security concerns.

In 2020, India had decided to limit the investments from China as tensions escalated amid clash between the two countries' soldiers. India also brought in restrictions to all countries that are sharing a border. By this, the beneficial owners of neighbouring countries who want to invest in India must posses permission from their countries.

Meanwhile, in March 2023, Finance Minister Nirmala Sitharaman has said that India is not considering easing restrictions that was put on foreign investments from countries that share land border with India.