Whether it’s the Chinese luxury car brand BYD Auto, which makes SUVs, or Apple’s Chinese manufacturer Lux Share Precisions, everybody wants to invest in India and benefit from its rising youth population. BYD Auto wanted to set up a $1 billion factory in India, but it was not approved. Similarly, Lux Share Precision also wants to open a factory but is waiting on a long list of approvers. Skill and Entrepreneurship Minister Rajiv Chandrashekhar said in a statement, "We are open to doing business with any company, anywhere, as long as they are investing and conducting their business lawfully and in compliance with the Indian law."
The Indian government started a large-scale crackdown on Chinese companies working in India after the Galwan clash of 2020 and the constant aggression by China to encroach in the Northeast. 300 apps that were accused of sending Indian data to Chinese establishments were banned. This included TikTok, PUBG, Cam Scanner, and Smule, among others. However, trade between India and China soared to $136 billion in 2022. While China’s imports from India decreased by 37.9 percent to $17.48 billion. Chinese exports to India climbed to USD 118.5 billion, a year-on-year increase of 21.7 percent.
Skill and Entrepreneurship Minister Rajiv Chandrashekhar said in a statement, "We are open to doing business with any company, anywhere, as long as they are investing and conducting their business lawfully and in compliance with the Indian law." The Indian government started a large-scale crackdown on Chinese companies working in India after the Galwan clash of 2020 and the constant aggression by China to encroach in the North-East. 300 apps that were accused of sending Indian data to Chinese establishments were banned. This included TikTok, PUBG, Cam Scanner, and Smule, among others.
However, trade between India and China soared to $136 billion in 2022. While China’s imports from India decreased by 37.9 percent to $17.48 billion. Chinese exports to India climbed to USD 118.5 billion, a year-on-year increase of 21.7 percent.
