March 27 (Reuters) - The Indian government has received
about 54 foreign direct investment proposals from China since
last year that are pending for approval, said Finance Minister
Nirmala Sitharaman.
"54 FDI proposals received during the past year and current
year with investor/ beneficial owner from China/Hong Kong are
pending for decision with government as on March 21, 2023,"
Sitharaman informed lawmakers on Monday.
The Indian government is not considering easing restrictions
put in place a few years ago on foreign investments from
countries that share land border with India, Sitharaman said.
In 2020, India sought to limit investments from China as
political tensions heightened between the two countries with its
soldiers clashing at the disputed Himalayan region.
The restrictions called for beneficial owners of a country
sharing a land border with India to seek its government's
approval for investments.
The step was taken to prevent hostile takeovers of Indian
companies when the country was severely impacted by the COVID-19
pandemic.
(Reporting by Nikunj Ohri; Editing by Shinjini Ganguli)
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