: 80 Chinese companies working in India: Anurag Thakur #FinanceIndia #StockMarketNEWS #Business IANS New Delhi Amid continued tense situation at Line of Actual Control (LaC) at China border, Minister

@StockMarketNEWS Mon 15 Feb, 2021

Posted in: #Business #FinanceIndia #StockMarketNEWS

80 Chinese companies working in India: Anurag Thakur #FinanceIndia #StockMarketNEWS #Business
IANS

New Delhi

Amid continued tense situation at Line of Actual Control (LaC) at China border, Minister ofState for Finance Anurag Thakur informed the Rajya Sabha that 80 Chinese companies are actively doing business in the country and while there are 92 companiesregistered.

On question about restricting the Chinese companies, the government said that the rules are already in place and all companies will have to comply tothe same.

The government has already banned 59 Chinese apps including the TikTok.

The government also informed that the FDI is regulated by the RBI and except in somesectors including defence, space and atomic energy, it is allowed with permission of the government.

Earlier in the Cabinet Committee on Security meeting on December 24, the government approved the National Security Directive on the telecommunication sector.

The move to create a secured national network would restrict the use of Chinese equipment by telecom operators in future 5G networks.

India and China have been engaged in a nine-month long standoff along the Line of Actual Control. Despite several levels of dialogue, there has not been any breakthrough.