China calls India trade ties mutually beneficial ahead of Brics | World News

Chinese Foreign Ministry spokesperson Guo Jiakun made the remarks at a regular press briefing in Beijing in response to a question about media reports that India’s Serious Fraud Investigation Office (SFIO) had recommended an investigation into Chinese smartphone maker Xiaomi.

“I am not aware of the specific situation,” Guo said, according to China’s state-run Global Times. He added that China hopes India will provide a “fair, just, transparent and non-discriminatory business environment” for companies from all countries investing and operating in India.

“China-India economic and trade cooperation is mutually beneficial and win-win in nature,” Guo said.

China’s comments came ahead of the 18th Brics Summit, which India is scheduled to host in New Delhi on September 12-13. India’s Brics chairship this year is guided by the theme “Building for Resilience, Innovation, Cooperation and Sustainability”.

Xi’s possible India visit

The possibility of a meeting between Prime Minister Narendra Modi and Xi on the sidelines of the summit has drawn attention as India and China work to improve bilateral ties following tensions after the 2020 Galwan clashes.

According to media reports, Jinping is expected to arrive in New Delhi on Saturday, and meet PM Modi before leaving for his country on Sunday.

India opened select sectors to Chinese-linked companies

India has taken some steps this year to ease restrictions affecting Chinese-linked businesses, even as government scrutiny remains in place.

In March, the government approved changes to FDI rules allowing certain non-controlling investments by foreign companies with Chinese or Hong Kong shareholding of up to 10 per cent through the automatic route, subject to sectoral conditions. The revised rules took effect on May 1.

In June, the government allowed four Chinese-linked power equipment companies with manufacturing facilities in India – TBEA Energy, Nanjing Electric India, New Northeast Electric India and Taikai Electric (India) – to bid for specified government power projects. The exemption is valid for two years.

In July, the government approved a joint venture between Indian electronics manufacturer Dixon Technologies and Chinese smartphone maker Vivo Mobile to manufacture smartphones in India.