Chinese ambassador Le Yucheng has expressed disappointment over New Delhi's visa policy and security clearance system, which he said was impeding flow of investments from China to India. However, the envoy who took up his assignment just ahead of Xi's visit added that he had begun deliberations for removing the hurdles so that Chinese investments to India would increase. President Xi Jinping had during his recent visit announced $20 billion investments in India in the next five years.
India has bracketed China along with Pakistan, Iran, Somalia and Sudan on visas and business houses have to go through a stringent visa regime and security clearance before investments are okayed. Chinese investors in telecom and railways face this hurdle more, ambassador Le said on the sidelines of a seminar.
"Investments from China to India are definitely broad-based and higher than other countries in that list. While any host country has to follow a system to check potential investors there should not be bottlenecks that discourage investment," a Chinese official told ET on condition of anonymity.
Le pointed out that investors from US, Europe and even other Asian countries didn't face impediments similar to one China faces. New Delhi has been cagey about Chinese investments in strategic sectors like telecom fearing that its entry would compromise the country's security.
"We have a single window clearance system for all countries and permission for foreign investments can be obtained within two days. This practice is followed across all Chinese provinces," Le said. Le also highlighted that Chinese firms have been complaining about low level of efficiency in India. "I hope that better investment opportunities are created here that would encourage additional Chinese investments," he said.
Why classify us with Somalia and Pakistan on visa policy system, China asks India - The Economic Times on Mobile
India has bracketed China along with Pakistan, Iran, Somalia and Sudan on visas and business houses have to go through a stringent visa regime and security clearance before investments are okayed. Chinese investors in telecom and railways face this hurdle more, ambassador Le said on the sidelines of a seminar.
"Investments from China to India are definitely broad-based and higher than other countries in that list. While any host country has to follow a system to check potential investors there should not be bottlenecks that discourage investment," a Chinese official told ET on condition of anonymity.
Le pointed out that investors from US, Europe and even other Asian countries didn't face impediments similar to one China faces. New Delhi has been cagey about Chinese investments in strategic sectors like telecom fearing that its entry would compromise the country's security.
"We have a single window clearance system for all countries and permission for foreign investments can be obtained within two days. This practice is followed across all Chinese provinces," Le said. Le also highlighted that Chinese firms have been complaining about low level of efficiency in India. "I hope that better investment opportunities are created here that would encourage additional Chinese investments," he said.
Why classify us with Somalia and Pakistan on visa policy system, China asks India - The Economic Times on Mobile
