NEW DELHI, April 20 — India’s new rules for foreign investment violate WTO principles of non-discrimination and are against free and fair trade, a Chinese embassy spokesperson said today, potentially opening a new flashpoint in their uneasy ties. On Saturday, India stepped up scrutiny of...
A man walks past a screen displaying news of markets update inside the Bombay Stock Exchange building in Mumbai, India February 6, 2018. — Reuters pic
In a global rout triggered by the fast spreading outbreak and the imposition of domestic lockdown measures, Indian stock markets have fallen 25 per cent since February 15, wiping out tens of billions of dollars of value. The move could set back a recent attempt by Prime Minister Narendra Modi and President Xi Jinping to improve ties between the two countries, which fought a war over border issues in 1962.
Some experts said that the move could hurt the trade relationship between the two countries as it is clear that the new policy is directed towards Chinese investment.
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