Industry

‘FDI of $1 bn flowed from China to over 1,600 firms’

More than 1,600 Indian companies have received foreign direct investments (FDI) worth $1 billion from China during the April 2016 to March 2020 period, according to government data.

The data was provided in a written reply to the Rajya Sabha on Tuesday to a question on whether it was a fact that large-scale investments had been made by Chinese agencies in Indian companies, especially start-ups.

Over 1,600 companies received $1.02 billion in FDI equity inflows from China for the April 2016 to March 2020 period, the data show.

These companies were in 46 sectors. Out of them, the automobile industry, printing of books, electronics, services and electrical equipment received more than $100 million in FDI each during the period.

Automobile, services

The automobile industry received the maximum FDI from China at $172 million. The services sector attracted $139.65 million.

In the reply, Minister of State for Corporate Affairs Anurag Thakur said the Ministry of Commerce and Industry had informed that the FDI Data Cell compiles and maintains the data of FDI reported through equity inflow into the country.

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Printable version | Sep 19, 2020 12:41:17 AM | https://www.thehindu.com/business/Industry/fdi-of-1-bn-flowed-from-china-to-over-1600-firms/article32615234.ece

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