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There is an upswing in security clearances to Chinese companies to set up shop in India under the Narendra Modi government, a development that the Centre hopes will bring it strategic benefits by way of China “de-hyphenating” Pakistan on the international stage, official say.
Details with ET show that as many as 18 leading Chinese companies have been given clearances under the new government to either set up units in India or open their project or liaison offices. Among the recent clearances has been to China’s major power transmission company Baoding Tianwei Baobian Electric (TWBH) Ltd, which emerged as a successful bidder in various projects of the ministry of power and has a presence in Gujarat. In April, there were reports that this state-owned firm may default as it had not raised enough funds to make a bond interest payment.
Two other Chinese companies— Shandong Tiejun Electric Power Engineering Ltd and China Non-Ferrous Metal Industry’s Foreign Engineering and Construction Ltd (Hong Kong) were also been granted clearance last week by India to set up a project office and liaison office respectively in India.
A new ‘national security clearance policy’ approved by the Centre in June eased the investment regime for foreign companies, including those from China, after Prime Minister Narendra Modi had promised the same during his trip to China in May.
A major clearance given was on July 8 to Chinese telecom giant, Huawei to set up a unit for electronics/telecom hardware and support services including trading and logistics activities at SIPCOT Special Economic Zone, Sriperumbudur in Tamil Nadu – a proposal pending with the ministry of commerce and industries since 2013.
“India hopes that by opening its doors to Chinese companies, the country will have a far more neutral approach on the international stage when it comes to India’s concerns regarding Pakistan – especially in light of China’s recent attempts at UN and FATF,” a senior government official told ET.
Details with ET show that other Chinese companies allowed to set up their offices in India since April include Xian Electrical Engineering Ltd, Hejian Solidkey Petroleum Machinery Ltd and Fully Sun China Limited (Hong Kong). Daqing Construction and Installation Group Ltd and International Energy Technology Service Ltd were cleared to open a project office in Gurgaon earlier this year while TBEA Shenyang Transformer Group Ltd of China was allowed to execute its contracts through its existing Project office in India.
TBEA, a Xinjiang-based manufacturer has plans to invest in a manufacturing facility in Gujarat.
Modi government gives security clearance to 18 Chinese companies as China de-hyphenates Pakistan | idrw.org
Details with ET show that as many as 18 leading Chinese companies have been given clearances under the new government to either set up units in India or open their project or liaison offices. Among the recent clearances has been to China’s major power transmission company Baoding Tianwei Baobian Electric (TWBH) Ltd, which emerged as a successful bidder in various projects of the ministry of power and has a presence in Gujarat. In April, there were reports that this state-owned firm may default as it had not raised enough funds to make a bond interest payment.
Two other Chinese companies— Shandong Tiejun Electric Power Engineering Ltd and China Non-Ferrous Metal Industry’s Foreign Engineering and Construction Ltd (Hong Kong) were also been granted clearance last week by India to set up a project office and liaison office respectively in India.
A new ‘national security clearance policy’ approved by the Centre in June eased the investment regime for foreign companies, including those from China, after Prime Minister Narendra Modi had promised the same during his trip to China in May.
A major clearance given was on July 8 to Chinese telecom giant, Huawei to set up a unit for electronics/telecom hardware and support services including trading and logistics activities at SIPCOT Special Economic Zone, Sriperumbudur in Tamil Nadu – a proposal pending with the ministry of commerce and industries since 2013.
“India hopes that by opening its doors to Chinese companies, the country will have a far more neutral approach on the international stage when it comes to India’s concerns regarding Pakistan – especially in light of China’s recent attempts at UN and FATF,” a senior government official told ET.
Details with ET show that other Chinese companies allowed to set up their offices in India since April include Xian Electrical Engineering Ltd, Hejian Solidkey Petroleum Machinery Ltd and Fully Sun China Limited (Hong Kong). Daqing Construction and Installation Group Ltd and International Energy Technology Service Ltd were cleared to open a project office in Gurgaon earlier this year while TBEA Shenyang Transformer Group Ltd of China was allowed to execute its contracts through its existing Project office in India.
TBEA, a Xinjiang-based manufacturer has plans to invest in a manufacturing facility in Gujarat.
Modi government gives security clearance to 18 Chinese companies as China de-hyphenates Pakistan | idrw.org
