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Bloomberg
China urged India to revise new investment rules that seek to block companies from neighboring nations taking over local businesses, saying they’re in violation of principles laid down by the World Trade Organization.
The curbs seeking to cut the risk of opportunistic takeovers as the coronavirus outbreak drives down valuations of Indian companies “go against the general trend of liberalisation and facilitation of trade and investment,†Ji Rong, spokeswoman of the Chinese Embassy in India, said in a statement.
The new curbs will allow an existing foreign investor from any country that shares a land border with India to invest only after approval by the Indian government.