China says India’s new FDI rules violate WTO principles, hopes for revision

China says India’s new FDI rules violate WTO principles, hopes for revision

© Reuters. © Reuters.

NEW DELHI (Reuters) – India’s new rules for foreign investment violate WTO principles of non-discrimination and are against free and fair trade, a Chinese embassy spokesperson in New Delhi said on Monday.

On Saturday, India stepped up scrutiny of investments from companies based in neighboring countries, in what is widely seen as a move to stave off takeovers by Chinese firms during the coronavirus outbreak.

“The impact of the policy on Chinese investors is clear,” spokesperson of the Chinese embassy Ji Rong said in a statement.

India’s trade ministry said in a notification dated April 17 the changes to federal rules on investment were meant to curb “opportunistic takeovers/acquisitions”. It did not mention China.

China hopes India will revise ‘discriminatory practices’, treat investments from different countries equally, the spokesperson said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Latest Category Posts