For subscribers
India warms to the idea of Chinese FDI
Get Chinese companies to invest in India rather than only buying from them goes the new thinking
Sign up now: Get ST's newsletters delivered to your inbox
This year, China overtook the US as India’s largest trading partner, with two-way trade totalling US$118.4 billion in the fiscal year 2024.
PHOTO: REUTERS
Follow topic:
Although India aspires to be a global manufacturing hub, one of the obstacles to its ambitions is that it has all but cut itself off from a manufacturing superpower that happens to be its neighbour.
This has begun to hurt. Over recent months, India-based companies especially in the electronics sector have complained that delays in issuing visas for Chinese technicians, which have intensified since 2020, are driving up costs, causing investment delays and leading to production and job losses. The Indian government has reportedly agreed to fast-track visa processing time for Chinese technicians from four to five months to 30 days.
