India Approves Key Investment Proposals In Electronics Sector Amid China Tensions
Date
8/24/2024 2:45:21 PM
(MENAFN- KNN India)
New Delhi, Aug 24 (KNN)
In a significant move for India's Electronics manufacturing sector, an inter-ministerial panel has recently greenlit five to six investment proposals, including several from Chinese companies and others with connections to China.
This decision marks a notable development given the current geopolitical climate and heightened scrutiny on Chinese investments in India.
According to a report by the Economic Times, the approved proposals include investments from Luxshare, a major Chinese electronics giant known for its role as a key supplier to Apple.
The panel also sanctioned a joint venture between Indian company Bhagwati Products (Micromax) and Chinese firm Huaqin Technology, with Huaqin holding a minority stake in the venture.
In addition to these, the approvals extend to several Taiwan-based companies, many of which are listed on the Hong Kong Stock Exchange or have investments originating from Hong Kong.
This diverse array of approved investments underscores a cautious yet strategic approach by India to bolster its electronics manufacturing sector while navigating complex international relations.
This move is expected to have a significant impact on the industry, providing a boost to domestic manufacturing capabilities and potentially enhancing India's position as a global electronics hub.
(KNN Bureau)
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