MNCs are keen to push manufacturing in India. (file)
Bengaluru:
The Indian government may review its stand on Chinese investments to help global companies relocate to the country, CNBC-TV18 reported today, citing government sources.
Many global companies are exploring a China plus one strategy to avoid supply chain bottlenecks as the world’s second largest economy grapples with a surge in COVID-19 infections.
CNBC-TV18 reported that multinational companies are keen to pursue manufacturing in India, but want to continue with existing Chinese joint ventures.
Reports say iPhone maker Apple wants China’s BYD to be allowed to sign a joint venture with an Indian company to shift iPad production to the country and the government may consider the move.
The report said that the government may allow joint ventures with Chinese companies in areas where India does not have technical expertise.
India and China have maintained cold relations following the worst border conflict between the neighboring countries since 1962 in June 2020.
Following the conflict, India barred the nation from participating in government tenders, forced Chinese companies investing in the country to seek approval and banned dozens of Chinese apps.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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