India's new norms for foreign direct investment?from specific countries violate the WTO's principle of non-discrimination and are against the general trend of free trade, a Chinese embassy spokesperson said on Monday.
China Slams India's New FDI Norms, Says They 'Violate Principles Of Free Trade, Liberalisation'
Last week, India made grant of prior approval mandatory for foreign investments from countries that share land border with India to curb "opportunistic takeovers" of domestic firms.
China Slams India's New FDI Norms, Says They 'Violate Principles Of Free Trade, Liberalisation'
China Slams India's New FDI Norms, Says They 'Violate Principles Of Free Trade, Liberalisation'
The official said the new policy introducing "additional barriers" was also against the consensus arrived at the G20 grouping to realize a free, fair, non-discriminatory and transparent environment for investment.
Last week, India made grant of prior approval mandatory for foreign investments from countries that share land border with India to curb "opportunistic takeovers" of domestic firms following the coronavirus pandemic.
"The additional barriers set by Indian side for investors from specific countries violate WTO's principle of non-discrimination, and go against the general trend of liberalisation and facilitation of trade and investment," Chinese embassy spokesperson Ji Rong said in a statement.?
- Previous Story
Outlook Money 40After40 - Highlights - Next StoryIt Is Too Early to Celebrate India's New Growth Path, Says Raghuram Rajan
