Prime Minister Narendra Modi\u2019s meeting with Chinese President Xi Jinping at an \u201cinformal summit\u201d is being perceived as a big positive for Chinese companies investing in India as the two governments attempt to reset bilateral ties. Notably, between April 2000 and December 2017, a meagre $1.78 billion has come into India by the way of foreign direct investment from its northern neighbour, with the chill in business relations being partly attributed to the military and diplomatic stand-off.<\/p>\n
\u201cThe meeting between the two leaders makes us more confident. We are all very happy to see that. If you read the Chinese newspapers, you\u2019ll see all the people here see this very positively. As an investor this gives us confidence \u2014 we can invest more, we can commit more to Indian market,\u201d Zhang Jie, executive director, BYD India Pvt Ltd told The Indian Express.<\/p>\n
When asked if the company was concerned about its investments last year during the two-and-half-month border stand-off at Doklam between Indian and Chinese troops, Jie said: \u201cFrankly speaking, political developments do have an influence. But it is in the short-term. Our strategy in India is very firm. We know what we want to do in India, what our strategy is, but temporarily we need to consider political developments. However, that will not stop our strategy in India.\u201d<\/p>\n
Shenzhen-headquartered BYD is a manufacturer of electric vehicles, batteries, power storage devices, etc and has invested around $150 million in India since 2007 in the batteries business, under which it has manufactured mobile phone batteries. Currently, apart from batteries, BYD has tied up with Hyderabad-based Goldstone Infratech Ltd for manufacturing, assembly and sales of electric buses. Goldstone Infratech\u2019s President Strategy Naga Satyam said that currently the company\u2019s localisation levels for electric buses was around 35 per cent, which it plans to increase to 50 per cent over the next two years.<\/p>\n
In a statement on Friday, the Indian government said that the Modi and Xi reiterated the importance of building an \u201copen, multipolar, pluralist and participatory global economic order which will enable all countries to pursue their development and contribute to the elimination of poverty and inequality in all regions of the world\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"
Prime Minister Narendra Modi\u2019s meeting with Chinese President Xi Jinping at an \u201cinformal summit\u201d is being perceived as a big positive for Chinese companies investing in India as the two governments attempt to reset bilateral ties. Notably, between April 2000 and December 2017, a meagre $1.78 billion has come into India by the way of […]<\/p>\n","protected":false},"author":1,"featured_media":29643,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[410],"tags":[],"class_list":["post-29642","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/29642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=29642"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/29642\/revisions"}],"predecessor-version":[{"id":29644,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/29642\/revisions\/29644"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/29643"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=29642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=29642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=29642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}