INSUBCONTINENT EXCLUSIVE:
India approves investments worth $1.79 billion from its neighboursNEW DELHI: India said on Wednesday it had approved foreign investment
worth $1.79 billion from neighbouring states in its first statement since tightening controls after tensions with China in 2020.India said
in April 2020 that foreign direct investment from countries with which it shares a land border would need prior government approval to deter
what it called "opportunistic" takeovers
This move is seen as mainly directed at China.India, which shares land borders with China, Pakistan, Bangladesh, Nepal, Bhutan, Myanmar, and
Afghanistan, did not name any companies or countries in its statement.The government said it had received 347 proposals from neighbouring
states worth almost $10 billion since April 2020.It said in parliament that 66 proposals had been approved, covering the auto,
pharmaceutical, financial and electronic industries, while 193 proposals had been rejected, closed or withdrawn.India has taken several
steps targeting Chinese investments after border tensions between the two Asian nations in 2020, including tightening scrutiny of
investments or imports and banning some mobile apps.($1 = 76.2500 Indian rupees)
