New FDI Rules Not Violation, Say Government Sources On China Criticism

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New FDI Rules Not Violation, Say Government Sources On China Criticism

India revised its FDI policy to curb “opportunistic takeovers” amid the coronavirus pandemic.

New Delhi:

India has denied China’s criticism that its new Foreign Direct Investment rules are a violation of the WTO agreement. The rules calling for government sanction for neighbours wishing to invest in India are “not denial” of permission but only an approval process, so no violation, top government sources said on Tuesday.

China has called the new FDI rules a violation of WTO principles of non-discrimination and against free and fair trade. In a statement, Beijing also called for a “revision of discriminatory practices”.

On Saturday, the government stepped up scrutiny of investments from companies based in neighbouring countries, in what was widely seen as a move to stave off takeovers by Chinese firms during the coronavirus outbreak. The changes were meant to curb “opportunistic takeovers/acquisitions,” said the government.

In the new policy, companies in countries that share a border with India will have to approach the government for investing in India, instead of taking the automatic route.

The existing FDI policy as applicable to investments from India’s neighbourhood, was confined to Bangladesh and Pakistan, while the new policy brings China, Nepal, Bhutan and Myanmar within its ambit.

“The additional barriers set by Indian side for investors from specific countries violate WTO’s principle of non-discrimination, and go against the general trend of liberalization and facilitation of trade and investment. We hope India would revise relevant discriminatory practices, treat investments from different countries equally, and foster an open, fair and equitable business environment,” the Chinese Embassy said in a statement on Monday.

Sources rebutted the statement along with an assessment of how the government’s move affected various treaties under the WTO.

On the General Agreement on Tariffs and Trade (GATT), sources said the new norms don’t directly affect goods.

The order also did not come under the Trade-Related Investment Measures (TRIMS) related to trade restrictive practices, the sources said it was an investment measure, but not related to trade in goods.

Sources ruled out any link with the General Agreement on Trade in Services (GATS), pointing out that its new policy was not related to market access or national treatment restriction. “This does not automatically result in any equity cap or restriction. Only a formally different procedure is prescribed,” said officials.
On allegations of violating the Bilateral Investment Treaty, sources said the India-China and India-Nepal pacts had been terminated. The treaty only applies to investment already made in India before the termination, not retrospectively.

India took the step in the backdrop of growing concern across the world that Chinese companies are buying cheap, distressed assets slammed by the COVID-19 pandemic. Countries such as Australia and Germany have also reportedly tightened their FDI policies in recent weeks to protect their companies.

World

24,76,854Cases

16,59,795Active

6,46,760Recovered

1,70,299Deaths

Coronavirus has spread to 185 countries. The total confirmed cases worldwide are 24,76,854 and 1,70,299 have died; 16,59,795 are active cases and 6,46,760 have recovered as on April 21, 2020 at 8:30 am.

India

18,601 1336Cases

14,759 584Active

3,252 705Recovered

590 47Deaths

In India, there are 18,601 confirmed cases including 590 deaths. The number of active cases is 14,759 and 3,252 have recovered as on April 21, 2020 at 8:00 am.

State & District Details

State Cases Active Recovered Deaths

DistrictCases

Mumbai514

Pune134

Mumbai Suburban65

Thane31

Sangli24

Ahmednagar22

Nagpur17

Latur8

Palghar8

Aurangabad8

Raigad6

Satara5

Yavatmal4

Osmanabad4

Buldhana4

Jalgaon2

Kolhapur2

Hingoli2

Ratnagiri2

Washim1

Nashik1

Sindhudurg1

Amravati1

Jalna1

Gondia1

Details Awaited*3798

4666 463

3862 389

572 65

232 9

DistrictCases

South175

Central100

North66

Shahdara66

New Delhi56

South East33

South West24

West23

East17

North East9

North West6

Details Awaited*1506

2081 78

1603

431 359

47 2

DistrictCases

Ahmadabad79

Surat18

Bhavnagar13

Gandhinagar12

Vadodara12

Rajkot10

Patan5

Porbandar3

Mahesana2

Kachchh2

Gir Somnath2

Panch Mahals1

Anand1

Sabar Kantha1

Jamnagar1

Chhotaudepur1

Morbi1

Botad1

Details Awaited*1774

1939 196

1737 162

131 26

71 8

DistrictCases

Jaipur104

Jodhpur55

Bhilwara27

Tonk20

Jhunjhunu20

Jaisalmer16

Bikaner11

Churu11

Kota10

Banswara9

Ajmer7

Dungarpur6

Dausa6

Bharatpur5

Alwar4

Udaipur4

Nagaur2

Pali2

Pratapgarh2

Dholpur1

Karauli1

Sikar1

Details Awaited*1252

1576 98

1346 65

205 22

25 11

DistrictCases

Chennai150

Coimbatore60

Dindigul45

Tirunelveli36

Erode32

Tiruchirappalli30

Namakkal28

Madurai24

Theni24

Karur22

Tiruppur19

Villupuram16

Cuddalore13

Thiruvallur12

Thiruvarur12

Salem12

Virudhunagar11

Thanjavur11

Nagapattinam11

Tiruvannamalai9

Kanchipuram6

Kanniyakumari6

Sivaganga5

Vellore5

The Nilgiris4

Ramanathapuram2

Ariyalur1

Perambalur1

Details Awaited*913

1520 43

1046

457 46

17 2

DistrictCases

Indore116

Bhopal70

Morena12

Jabalpur8

Ujjain8

Barwani3

Khargone3

Chhindwara2

Gwalior2

Shivpuri2

Vidisha1

Details Awaited*1258

1485 78

1284 74

127

74 4

DistrictCases

Gautam Buddha Nagar58

Agra49

Meerut32

Ghaziabad23

Lucknow22

Shamli14

Saharanpur13

Kanpur Nagar8

Sitapur8

Varanasi7

Bareilly6

Maharajganj6

Basti5

Ghazipur5

Firozabad4

Hathras4

Kheri4

Baghpat3

Pratapgarh3

Jaunpur3

Hapur3

Azamgarh3

Bulandshahr3

Rae Bareli2

Mirzapur2

Pilibhit2

Mathura2

Banda2

Shahjahanpur1

Kaushambi1

Moradabad1

Prayagraj1

Hardoi1

Budaun1

Bijnor1

Barabanki1

Auraiya1

Details Awaited*879

1184 100

1026 67

140 32

18 1

DistrictCases

Hyderabad173

Warangal Urban23

Nizamabad23

Suryapet16

Medchal Malkajgiri16

Ranga Reddy15

Jogulamba Gadwal12

Nalgonda11

Adilabad10

Karimnagar9

Mahabubnagar8

Kamareddy8

Sangareddy7

Vikarabad5

Jagitial4

Nirmal4

Medak4

Bhadradri Kothagudem4

Peddapalli2

Mulugu2

Jangoan2

Nagarkurnool2

Jayashankar Bhupalapally1

Kumuram Bheem Asifabad1

Siddipet1

Mahabubabad1

Details Awaited*509

873 29

660 20

190 4

23 5

DistrictCases

Kurnool57

Spsr Nellore42

Guntur38

Krishna28

Y.s.r.27

Prakasam24

West Godavari21

Visakhapatanam20

Chittoor17

East Godavari12

Anantapur6

Details Awaited*430

722 76

610 21

92 50

20 5

DistrictCases

Kasaragod149

Kannur51

Ernakulam26

Thiruvananthapuram15

Malappuram14

Kozhikode13

Pathanamthitta13

Thrissur12

Idukki10

Kollam8

Palakkad7

Alappuzha3

Kottayam3

Wayanad3

Details Awaited*81

408 6

114

291 21

3

DistrictCases

Bengaluru Urban59

Mysuru34

Chikkaballapura10

Bidar10

Uttara Kannada10

Dakshina Kannada8

Belagavi7

Ballari6

Kalaburagi6

Bagalkote5

Bengaluru Rural5

Udupi4

Mandya3

Tumakuru2

Davangere2

Gadag1

Kodagu1

Dharwad1

Chitradurga1

Details Awaited*233

408 18

280 17

112 1

16

DistrictCases

Kolkata37

Howrah15

Medinipur East12

Kalimpong7

24 Paraganas North6

Jalpaiguri5

Nadia5

24 Paraganas South4

Hooghly4

Purba Bardhaman3

Medinipur West2

Paschim Bardhaman2

Darjeeling1

Details Awaited*289

392 53

307 46

73 7

12

DistrictCases

Srinagar33

Bandipora24

Baramulla16

Budgam9

Jammu9

Udhampur8

Kupwara5

Pulwama4

Rajouri3

Shopian3

Ganderbal2

Details Awaited*252

368 18

292 3

71 15

5

DistrictCases

Nuh38

Gurugram35

Palwal28

Faridabad19

Karnal5

Ambala4

Panipat4

Fatehabad3

Sirsa3

Panchkula2

Bhiwani2

Rohtak1

Kaithal1

Sonipat1

Jind1

Hisar1

Charki Dadri1

Details Awaited*105

254 21

124

127 40

3

DistrictCases

S.a.s Nagar26

Shahid Bhagat Singh Nagar (nawanshahr)18

Amritsar10

Hoshiarpur7

Jalandhar6

Ludhiana5

Mansa5

Fatehgarh Sahib2

Pathankot2

Faridkot1

Kapurthala1

Moga1

Patiala1

Barnala1

Details Awaited*159

245 26

191 19

38 7

16

DistrictCases

Siwan6

Gaya5

Patna5

Munger4

Gopalganj3

Begusarai2

Nalanda2

Saharsa2

Bhagalpur1

Lakhisarai1

Saran1

Details Awaited*81

113 20

69 20

42

2

DistrictCases

Khordha33

Bhadrak3

Cuttack2

Jajapur1

Kalahandi1

Kendrapara1

Puri1

Details Awaited*32

74 6

49 6

24

1

DistrictCases

Dehradun17

Nainital4

Udam Singh Nagar4

Almora1

Haridwar1

Pauri Garhwal1

Details Awaited*18

46 2

28

18 7

0

DistrictCases

Ranchi2

Hazaribagh1

Details Awaited*43

46 4

44 4

0

2

DistrictCases

Solan7

Kangra3

Una3

Details Awaited*26

39

22

16

1

DistrictCases

Raipur5

Korba2

Bilaspur1

Durg1

Rajnandgaon1

Details Awaited*26

36

11

25

0

DistrictCases

Golaghat9

Goalpara4

Marigaon4

Nalbari4

Dhubri3

Kamrup Metro2

Cachar1

Hailakandi1

Kamrup1

Karimganj1

Lakhimpur1

South Salmara Mancachar1

Details Awaited*3

35

15

19 2

1

DistrictCases

Chandigarh18

Details Awaited*8

26

13

13

0

DistrictCases

Leh Ladakh11

Kargil3

Details Awaited*4

18

4

14

0

DistrictCases

North And Middle Andaman7

South Andamans3

Details Awaited*6

16 1

5 1

11

0

DistrictCases

East Khasi Hills1

Details Awaited*10

11

10

0

1

DistrictCases

North Goa5

South Goa1

Details Awaited*1

7

0

7

0

DistrictCases

Pondicherry4

Mahe1

Details Awaited*2

7

4

3

0

DistrictCases

Imphal West1

Thoubal1

2

0

2 1

0

DistrictCases

Gomati1

Details Awaited*1

2

1

1

0

1

1

0

0

1

1

0

0

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