After Over Nine Months, Govt Resumes According Clearances To Chinese FDI Proposals On A Case-By-Case Basis

Amid the ongoing disengagement between the People's Liberation Army (PLA) and the Indian Army in Eastern Ladakh and with the successful completion of the process at the North and South banks of the Pangong Tso lake, the Government has begun to clear the foreign direct investment (FDI) proposals from China, reports Times of India.

The Government has begun to accord clearances on a case-by-case basis, ending a freeze that lasted around nine months as the bilateral ties between India and China stooped to a multi-decadal nadir amidst rising tensions and conflicts at the Line of Actual Control (LAC) in Ladakh.

It should be noted though that so far the approvals are said to have been accorded in a limited fashion, only to smaller cases, as the larger cases are likely to be taken up for clearances only after a careful analysis of the situation.

To help smoothen the process, the Government is also said to have set up a coordination committee comprising officials from the Ministries of Home Affairs, External Affairs, Commerce & Industry and NITI Aayog.