Reuters: Exclusive: India to clear 45 investments from China, likely to include Great Wall, SAIC – sources
Mon February, 2021, Age: 2 years
As military tensions between India and China appear to abate at the border, a raft of Chinese investment projects in India are expected to be approved by India’s Interior Ministry. The forty five proposals to be greenlit, part of a larger pool of 150 Chinese investment proposals totaling $2 billion, have been held up for over a year as the two countries faced-off along their contested border. Sources familiar with the process reported that proposals from China’s Great Wall and SAIC corporations are likely to be on the list approved proposals. According to Reuters: “Great Wall and General Motors (GM) made a joint proposal last year seeking consent for the Chinese automaker to purchase the U.S. company’s car plant in India, in a deal expected to be valued at around $250-300 million.” SAIC is another Chine car manufacturer that has been selling cars under its British car brand MG.