Sources said there is no immediate plan to either deny or put on hold security clearances to the Chinese firms that have applied
The Ministry of Home Affairs (MHA) will not go in for a knee-jerk reaction while dealing with several pending security clearances for Chinese manufacturers amid the standoff between the Indian and Chinese troops on the Sikkim border.
Sources said there is no immediate plan to either deny or put on hold security clearances to the Chinese firms that have applied. Such issues are dealt with a great deal of maturity by the concerned agencies at the appropriate level. Security clearances will not be done in an ad-hoc manner," said a Home Ministry spokesperson.
MHA is the nodal authority to sanction security clearance to foreign investors under the National Security Clearance Policy. A total of 14-15 parametres exist in eight to nine sensitive areas like telecom, ports, and civil aviation, etc. Areas close to the border and vital installations have been kept away from foreign investors by the Home Ministry.
China has invested USD 1.64 billion (Rs 10,094 crore) in Indian industries between April 2000 and March 2017.
Chinese companies have invested mostly in sectors such as telecom, power, engineering, and infrastructure. Several Chinese companies have also shown interests to set up industrial parks in the country.
The standoff between the Chinese and Indian troops continues in Dokalam area. The faceoff was triggered after Bhutan, which has close diplomatic and military ties with India, protested against People's Liberation Army troops building a road close to the strategic tri-junction of India, Bhutan, and Tibet, neighbouring the Chumbi Valley in Chinese control.
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