China Slams India's New FDI Rules, Calls It "Discriminatory"
New Delhi: India's new rules for Foreign Direct Investment violate WTO principles of non-discrimination and are against free and fair trade, China said on Monday.
On Saturday, the government stepped up scrutiny of investments from companies based in neighbouring countries, in what is widely seen as a move to stave off takeovers by Chinese firms during the coronavirus outbreak. The changes were meant to curb "opportunistic takeovers/acquisitions," said the government. It did not mention China.
"The impact of the policy on Chinese investors is clear," a spokesperson of the Chinese embassy Ji Rong said in a statement.
China hoped India would revise 'discriminatory practices', treat investments from different countries equally, the spokesperson said.
(Inputs and image from ndtv.com)