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Chinese to Need Clearance to Join Indian Boards – Economic Times

The move will impact Chinese manufacturing companies with subsidiaries operating in India and China


Asian banks
The move comes after a probe found that China and Hong Kong investors were devising alternative structures to circumvent restrictions on foreign investments from neighbouring countries imposed in April 2020. Photo: Reuters.

 

Chinese nationals named as directors on the boards of Indian companies will need a security clearance, The Economic Times reported, citing an Indian government notification on Wednesday June 1.

The move will affect Chinese manufacturing companies with subsidiaries operating in India and China or private equity and venture funds based in Hong Kong that have made investments in India, the report added.

 

Read the full report: The Economic Times.

 

 

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.