India has stepped up scrutiny of investments from companies based in neighbouring countries, in what is widely seen as a move to stave off takeovers by Chinese firms during the coronavirus outbreak by AdityaKalra AftabAhmed00
FILE PHOTO: Students wear masks of China's President Xi Jinping as other waves national flags of India and China, ahead of the informal summit with India’s Prime Minister Narendra Modi, at a school in Chennai, India, October 10, 2019. REUTERS/P. Ravikumar/File Photo
Investments from an entity in a country that shares a land border with India will require government approval, it said, meaning they can not go through a so-called automatic route. Similar restrictions are already in place for Bangladesh and Pakistan. But up to now, they have not applied to China and India’s other neighbours including Bhutan, Afghanistan, Myanmar and Nepal.
Australia has also said all foreign investment proposals will be assessed by a review board during the coronavirus crisis to prevent a fire sale of distressed corporate assets. Germany has taken similar measures.
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