Latest News | Few Chinese Firms Participated in PLI Scheme: Official

New Delhi, June 13 (PTI) A few Chinese companies have participated in India's production-linked incentive (PLI) scheme, a senior government official said on Tuesday.

According to FDI norms under Press Note 3 (2020), Chinese firms have to seek mandatory approval from the government to invest in any sector.

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"Not many Chinese companies have come. They do not get the clearances. Most companies are coming from Taiwan,” the official said.

Under the press note, the government has mandated approval for foreign investments from countries that share their borders with India.

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These countries include China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar, and Afghanistan.

About 40-50 foreign direct investment (FDI)proposals from countries sharing land border with India under the provisions of Press Note 3 are pending for approval with the government.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)