Delhi: Union Commerce and Industry Minister Piyush Goyal has stated that India is not reconsidering supporting foreign direct investment (FDI) from China, as stated in the recent Economic Survey. Goyal stated that the Economic Survey is not binding on the government and that there is no reconsideration at the moment.
The Economic Review presented in Parliament on July 22 for the financial year 2023-24 advocated increasing FDI from neighboring China to promote local manufacturing and tap the export market.
Goyal responded to this by saying that there is no reconsideration at the moment. In 2020, the central government made its approval mandatory for FDI from countries sharing border with India, including China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar, and Afghanistan.
