India’s senior official expressed openness to Chinese Investments; said BYD’s $1 bn Indian plant application still valid – report

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Rajeev Chandrasekhar, India’s Deputy Minister for Information Technology, said in an interview with the Financial Times that although there is a border conflict between China and India, India s open to investments from China and other countries, as long as they invest and conduct business legally, and comply with Indian laws.

Previously, it was reported that India rejected an application by BYD Company to build a $1 billion factory in the country for national security reasons. The FT report said that BYD’s application is under review and is still valid.

In addition, it’s reported that Luxshare Precision Industry, a contract manufacturer of Apple, applied to set up a third plant in India but Indian officials have not yet approved the project. Chandrasekhar said in the interview that he was not aware of any application from Luxshare.