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India’s New FDI Norms Violate WTO’s Principle of Free Trade: China

India made a move to curb “opportunistic takeovers” of domestic firms following the coronavirus pandemic.

Published
India
1 min read
Image used for representational purposes.
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India's new norms for foreign direct investment from specific countries violate the WTO's principle of non-discrimination and are against the general trend of free trade, a Chinese embassy spokesperson said on Monday, 20 April.

The official said the new policy introducing "additional barriers" was also against the consensus arrived at the G20 grouping to realize a free, fair, non-discriminatory and transparent environment for investment.

Last week, India made a grant of prior approval mandatory for foreign investments from countries that share a land border with India to curb “opportunistic takeovers” of domestic firms following the coronavirus pandemic.
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"The additional barriers set by the Indian side for investors from specific countries violate WTO's principle of non-discrimination, and go against the general trend of liberalisation and facilitation of trade and investment," Chinese embassy spokesperson Ji Rong said in a statement.

(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)

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