Over 1,600 Indian cos received $1 bn FDI from China during April 2016-March 2020: Govt data

By: |
September 15, 2020 5:36 PM

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.

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.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.

More than 1,600 Indian companies have received foreign direct investments worth USD 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 is a fact that large scale investments have been made by Chinese agencies in Indian companies, specially the start-ups.

Over 1,600 companies received USD 1,020.25 million (USD 1.02 billion) Foreign Direct Investment (FDI) equity inflows from China for the April 2016 to March 2020 period, as per the data.

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 USD 100 million FDI each from China during the said period.

The automobile industry received the maximum FDI from China at USD 172 million. The services sector attracted such funds worth USD 139.65 million, the data showed.

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.

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.

The relevant data for the April 2016 to March 2020 period was provided along with the written reply.

Indian and Chinese troops are engaged in a standoff along the Line of Actual Control (LAC) in eastern Ladakh.

Do you know What is Positive GDP growth seen in Q3, need to fight inflation: RB, Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India, Expenditure Budget? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Retail inflation for farm, rural workers eases in December on lower food prices
2Weak reform implementation, financial sector woes could lower India’s medium-term growth: Fitch
3States fiscal deficit seen spiking to historic high of 4.7%: Report