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More than 1,600 Indian companies have received foreign direct investments worth $1 billion from China during the April 2016 to March 2020 period, according to government data.<\/p>\n
The data was provided in a written reply to the Rajya Sabha on Tuesday to a question on whether it is a fact that large scale investments have been made by Chinese agencies in Indian companies, specially the start-ups.<\/p>\n
Over 1,600 companies received $1,020.25 million ($1.02 billion) Foreign Direct Investment (FDI) equity inflows from China for the April 2016 to March 2020 period, as per the data.<\/p>\n
These companies were in 46 sectors. Out of them, the automobile industry, printing of books (including litho printing industry), electronics, services and electrical equipment received more than $100 million FDI each from China during the said period.<\/p>\n
The automobile industry received the maximum FDI from China at $172 million. The services sector attracted such funds worth $139.65 million, the data showed.<\/p>\n
In the written reply, minister of state for corporate affairs Anurag Singh Thakur said the corporate affairs ministry does not maintain information regarding the investment made by Chinese agencies.<\/p>\n
He said the ministry of commerce & industry has informed that FDI Data Cell compiles and maintains the data of FDI reported through equity inflow in the country.<\/p>\n
The relevant data for the April 2016 to March 2020 period was provided along with the written reply.<\/p>\n
Indian and Chinese troops are engaged in a standoff along the Line of Actual Control (LAC) in eastern Ladakh. <\/p>\n
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