China's
top diplomat Wang Yi admonished Indian External Affairs Minister
Subrahmanyam Jaishankar on Friday for India not providing a fair,
transparent and non-discriminatory business environment for Chinese
companies.
Wang confronted Jaishankar on the sidelines of a
series of ASEAN foreign ministers' meetings, according to the Xinhua
News Agency.
The Indian government has intensified its crackdown on Chinese companies, most obviously in the smartphone sector.
For
instance, the Indian government in June atrociously froze approximately
4.8 billion yuan ($672 million)-worth of Xiaomi's funds, citing alleged
illegal transfer of funds overseas.
This was followed by Indian
government's curbs last month, covetously mandating that Chinese
smartphone manufacturers such as Xiaomi, OPPO and Vivo fill positions
such as CEO, chief operations officer, chief financial officer, and
chief technology officer with local Indians, according to Indian media
reports.
The targeted measures by Indian authorities against
Chinese companies have not only hurt Chinese investors but also
undermined the confidence of foreign investors in general, with some
foreign companies having chosen to exit the Indian market amid growing
concerns about their future business prospects.
The moves against
Chinese companies hastened Taiwanese company Foxconn to pull out from
its deal with the Indian corporate group Vedanta this week which comes
almost a year after it signed an agreement with the Gujarat state
government.
Anonymous
PS. My position is still the same. Only stupid people would invest good money in India to be robbed. But stupid people are very stubborn and would not admit they are stupid. And when their money is robbed, they keep quiet, pretending all is normal. And the more stupid ones would throw in more money hoping to recover their losses only to lose more.
The smartest ones would be those encouraging the stupid ones to invest more money in India and take a cut under the table or have a share in the loot.
Stupid people will never admit their stupidity. That is why they say 'stupidity has no cure'. How to cure when they do not admit that they are stupid in the first place? It is just like a person who is very fragile and weak with a mental incapacity, yet claims he is healthy, robost and in good mental shape to lead the country. It is a disaster waiting to happen for the country. You know what I mean?
ReplyDeleteIndia is trying to do Foreign Companies in in India. Not just to Chinese companies, but to Taiwanese companies like Wistron and Foxconn. Wistron had to sell off their iPhone assembling business in India to Tata. Foxconn realised it cannot remain in the joint venture with Vedanta, knowing it will be swallowed up once the venture is successful. Both followed Apple to invest in India, but got burnt badly. Apple is stuck between a rock and a hard place and retreating from India is a great loss of face and a dent on its ego.
This is the Indian way of doing business, using foreign investments to grow ventures to be taken over by their own domestic entities if successful. Are these not lessons enough for them to get out of their stupidity? The Adani Group, that grew to such a size, used the same modus operandi, helped by the Modi Government to acquire successfully ports and every big venture in India.
Why are investors still stupidly dumping money into India, after watching all this is a mystery? All the time it is just gloating and salivating about the Indian market, as if consumer size will grow overnight with population growth alone. There is more to it than population growth to have a huge consumer market like China. The first criteria is eradication of poverty followed by job creation, which can only come with manufacturing. Killing the goose that is going to lay the golden eggs for India via manufacturing is not the way forward.
We just have to take the EU countries that are just following blindly the dictates of the USA to harm themselves as a perfect example. Who in his right mind would do that? We can call that stupidity in every sense of the word, destroying their own economy with de-industrialisation, but they think they are doing the right thing to cut their own noses to spite their faces. There is a hidden time bomb waiting to explode in the EU going forward, but they are just keeping a lid on it by banning protest as in France, and also in USA, Canada and the UK. It just needed a spark to ignite and no amount of banning can stop it.
Apparently Xiaomi plans to invest even more in India on retail expansion. Those that made the decision needed to be sodomized jialat jialat as it appears the sodomy they received not enough
ReplyDeleteDoes 'Xiao Me' mean anything? It was supposed to mean 'Small Rice'. Now more like self declaration of 'self madness'.
ReplyDeleteIndia has proven yet again to be an investment black hole.
ReplyDeleteChinese company has not experienced it before this but western companies have experienced it. My American ex company set up a factory there back in the 90s & was conned to invest more & more, until they finally realized. In the end, I think the factory was left alone to produce for local India consumption. Nothing more was heard of it anymore.
The Chinese will learn from this expensive mistake & only make it once. Other will see the implication and India can kiss goodbye to further Chinese investment.
Is it any wonder Modi is befriending the west again. Gwai loh have short memory & will fall for Indian sweet words.
It is reckless, irresponsible and suspicious to throw OPM into the black hole in India.
ReplyDeleteOPM = not his money
ReplyDeleteYou think there wont be back room deal (commission) that will benefit the CECA executive? Of course this CECA executive must benefit from the deal.
He can later go back Yindia to retire comfortably in his newly build mansion.
Ya right Anon 12.23
ReplyDeleteHave anyone seen the VVIP Indian Minister dancing and yee hawing in the VVIP $20K a night VVVIP suite with his coutrymen?
Also old cock see what's Ang Moh's concert!
All on someone's accounts..but that screwed chinkee singh also smart billed that promotor for all these expenses as staying in his hotel.
That's why can sign seven years Fark1 contracts.
One stone killed all birds as got free trips and stayed in his hotel and plough that silver haired hunchbacked imbecile.
Ohya! Forget he got an Ang Moh Wifey.
Also rumours that he tarik strings in CECA's appointments for his coutrymen.
These Indians you think had loyalties for Sinkiekand?
Just lived in big rented Coloninal bungalows first and after retirements scooted off to India..
Like our olden days Chinkees mentalities.
https://www.channelnewsasia.com/watch/speaker-tan-chuan-jin-mp-cheng-li-hui-resigned-after-inappropriate-relationship-pm-lee-video-3633841
DeleteNitpicking India Sabotaging SCO and BRICS From the Inside
ReplyDeleteIndia is a big stumbling block, a major disrupter, seeking to weaken groups like SCO and BRICS from the inside. The South Asian country exhibits a combative and competitive attitude towards China throughout its year-long rotating SCO presidency period.
During India’s hosting of the SCO Defence Ministers’ Meeting and Foreign Ministers’ meeting in earlier months: 1) Indian ministers refused to shake hands with their Chinese counterparts, 2) India purposely put China at non-central position in the group photographs -- something that rarely happened in earlier SCO meetings, 3) India challenged the Chinese and Russian privileges in the SCO in terms of language and demanded the inclusion of English as one of its official languages so as to increase its influence within the grouping.
Even at the final summit, India created a big fuss, openly contradicting China and preventing the summit from making important achievements. It refused to sign the ‘SCO Economic Development Strategy 2030’, neither did it endorse the Belt and Road Initiative, thereby preventing a clear SCO consensus on these issues.
Not just in SCO, India is confronting China in the BRICS grouping as well, where it has been delaying the process of expansion, by pressing for clear criteria for the expansion process, as against the Chinese stance of expanding the grouping based on recommendations of existing members.
The members should hold their own meetings by not inviting India and decide what is best to do.
ReplyDeleteIndia is the odd man out int the two organisations. They can do without India.
I believe India is not in the BRI. It opted out. And India is sabotaging the SCO's Economic Development Strategy leveraging on the BRI Initiative. In other words, preventing development strategies benefiting all SCO members, because it is not in the BRI itself and therefore anything to do with the BRI it will sabotage. India wants only to take advantage not contribute.
ReplyDeleteAny forward looking alliance must never ever include India. It will be a fatal mistake to do so.
Temasek to invest OPM US$9-10 billion in India over next 3 years
ReplyDeleteTemasek is looking to invest as much as OPM US$9-10 billion in India over the next three years as it is seeing more opportunities to deploy larger sums of capital in the Indian economy, Indian-origin senior executives told Indian media.
Temasek, which invested over OPM US$1 billion in India in FY23, has already deployed close to OPM US$2 billion so far this fiscal led by its investment in Manipal Health and a small cheque in Atomberg Technologies. Typically, in the last few years, Temasek’s investments in India have clocked around OPM US$1 billion per year.
Temasek’s overall India exposure stands at around US$21 billion on a mark to market basis, with cost basis (original cost of investments) unrevealed.
“We are very bottom up driven investors. And now we see bottom up opportunities in India growing and we see more opportunities to deploy capital, and deploy higher amounts than we used to before on an individual investment basis,” said Ravi Lambah, Head, Investment Group; and Head, India, at Temasek.
“In the past, we were putting a billion dollars (OPM) a year to work, but now we see the opportunity of India growing. We are very encouraged by a few things that are happening in the country. We like the fact that the policy framework has been very consistent here and that the government has been very forward looking on this front. GST has been a game changer. There are many different areas where digitization in India has been fantastic. We also see that infrastructure creation has been very important for the government. So if you put all this together, on a bottom up basis, we are far more comfortable to deploy large amounts of capital in companies where we see potential,” said Lambah.
Temasek’s India portfolio now forms 6% of its global portfolio, increasing from 5% last year.
“Five years ago, India was about 3%. Last year, it was 5% and this year it has increased to 6%. So clearly, the focus of the firm and India’s performance is getting more and more material,” said Vishesh Shrivastav, Managing Director, Investment (India) at Temasek.
The Singapore state investor is keen on opportunities in areas such as healthcare services, consumption, digitization, sustainability and energy transition themes.
“We are very structurally very positive on healthcare as a sector in India. We think there's a huge demand. It's undeserved. And it is part of our sustainable living trend that we see as a very long term trend that will benefit populations globally,” said Lambah.
Chinese companies should learn from Temasek, hire Indians to invest for them in India. Sure never lose money. Has anyone heard of India robbing Temasek's money? Has anyone heard how much profits Temasek made in India. This one is state secret. No lah, it is long term investment. So cannot tell right now.
ReplyDeleteTrust me at your own risk. But if it is OPM, no problem.
Anyone thinks it is a good idea to put your money into someone's pocket and ask him to spend for you? And trust him?
ReplyDelete