New Delhi: China is eager to welcome more Indian investments and commodities into its market, while also expressing hopes that India will create a “sound business environment” for Chinese firms operating there, according to Beijing’s ambassador to India, Xu Feihong, speaking on Thursday.
These remarks indicate Beijing’s willingness to strengthen economic ties with New Delhi, which have been strained since a deadly clash between their troops on a Himalayan frontier in 2020. Following this incident, India increased scrutiny on Chinese investments and implemented new regulations affecting Indian firms with Chinese stakeholders. However, the Indian government is now considering loosening some of these restrictions as local firms seek to expand their manufacturing capabilities.
At an event in New Delhi, Ambassador Xu highlighted China’s readiness to enhance cooperation with India in science and technology. He also expressed hope that India would take steps to resume direct flights and facilitate visa processes for Chinese citizens.
Also Read | Supply Chain Concerns Mar Huawei’s $2,800 Smartphone Debut
Xu stated, “China would welcome more Indian commodities and investment by Indian enterprises,” adding, “It is hoped that the Indian side could provide a sound business environment for the Chinese enterprises in India.”
Also Read | Surge in Temple Sales in Japan Triggers Crackdown on Unscrupulous Buyers
Despite the challenges, China remains India’s largest source of goods, having been the biggest supplier of industrial products last year. Although India’s trade gap with China briefly decreased after the border clash, it has since doubled to $85 billion as of March 2024.
