India to ease curbs, fast-track Chinese investment in more sectors

India will allow Chinese investment in additional sectors through a fast-track approval mechanism, New Delhi's ‌investment secretary ⁠said ⁠on Wednesday.

Based on domestic manufacturing ​needs, the government will add more ​categories to the list of sectors where Chinese investment proposals ​must be processed ⁠within 60 ‌days, Amardeep Singh ​Bhatia ​told reporters.

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New Delhi on ⁠Tuesday scrapped the blanket requirement ​for government approval for companies ​with up to 10% Chinese ownership, easing cross-border deal-making that had largely been frozen since the deadly ‌2020 Galwan border clash.

Under the revised rules, investments ​in ​sectors such ⁠as electronics, capital goods, solar cells and battery components will be cleared ​within 60 days, provided Indian residents retain majority control.