China fumes over India’s new FDI policy

Beijing: India’s new rules for Foreign Direct Investment (FDI) violate WTO principles of non-discrimination and are against free and fair trade, China said on Monday, calling for a “revision of discriminatory practices”.

On Saturday, the government stepped up scrutiny of investments from companies based in neighbouring countries, in what was widely seen as a move to stave off takeovers by Chinese firms during the coronavirus outbreak. The changes were meant to curb “opportunistic takeovers/acquisitions,” said the government.