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India’s Finance Minister Nirmala Sitharaman on July 25 endorsed her economic advisor’s proposal to open the country to direct investment from China, effectively frozen since the Sino-Indian border clashes of 2020.
India is likely to ease restrictions on Chinese investment in non-sensitive sectors like solar panels and battery manufacturing where New Delhi lacks expertise and which hinders domestic manufacturing, two government sources said.
India "clearly has a problem" figuring out new drivers for its economic growth even as its economy expands at a fast pace, JPMorgan's Jahangir Aziz said, following the country's union budget.
India’s Finance Minister has backed her economic adviser’s suggestion to allow more Chinese investment in the country, after flows were disrupted by New Delhi’s increasingly strained ties with Beijing since 2020.
SINGAPORE -- As Indian Prime Minister Narendra Modi enters his third term in office, investors will be watching to see whether his ability to drive economic change in the world's most populous nation has been by hurt the ruling coalition's election setback.