Government forms panel to evaluate investment proposals from China: Report

The government has set up a panel to evaluate and approve Chinese foreign investment proposals. The government had amended the Foreign Direct Investment (FDI) policy in April to discourage “opportunistic investment” in Indian companies amid the novel coronavirus pandemic. Proposals screened by the panel and considered “non-controversial” could be approved, The Economic Times reported, quoting a senior government official. As per the amended policy, FDI investments into Indian companies from the neighbouring countries that share a land border with India will now require a nod from the government. This was widely seen to be directed at curbing Chinese takeovers of…