Centre May Review Stance On Chinese Investments: Report The report further stated that while multinational companies are keen to pursue manufacturing in India, they want to continue their existing Chinese joint ventures

In a bid to help global firms looking to relocate to India, the Centre is considering reviewing its stance on Chinese investments, according to a report by CNBC-TV18 on Friday, citing government sources.

According to a report, many companies across the world are looking to shift their manufacturing units away from China in order to rectify the supply chain bottlenecks mainly on the backdrop of Covid-19 infections. The report further stated that while multinational companies are keen to pursue manufacturing in India, they want to continue their existing Chinese joint ventures.

Most of these multinationals had suffered widespread disruptions to their businesses as authorities had enforced strict lockdown measures to contain the pandemic, which originated in Wuhan city in China's Hubei province.

IPhone manufacturers Apple wants China's BYD to be allowed to sign a joint venture with an Indian company to move iPad production to the country and the government might consider the move. The government might allow joint ventures with Chinese companies in sectors where India does not have technical expertise, added the report.

As per available reports, in April 2020, the Indian government had revised its foreign direct investment policy (FDI) vis-à-vis its neighbors, including China, to prevent opportunistic takeovers of local firms during the pandemic.. As a result, investment from India's neighboring countries would be allowed only after federal government approval, even in sectors where automatic clearances were previously permitted. In March, the reports had come that the Indian government will selectively consider Chinese investment proposals, while adhering to three-pronged standard operating guidelines. All Chinese investment proposals will have to undergo mandatory security clearances.