BUSINESS
The Indian government is currently looking into cases of alleged tax evasion by three Chinese mobile companies -- OPPO, Vivo India and Xiaomi.
For Chinese processing and manufacturing enterprises that originally tried to make India an overseas product-processing centre, if it is indeed increasingly difficult and unprofitable to operate in the country, then withdrawing from India is also an available option, state-run Global Times has said.
The Indian government is looking into cases of alleged tax evasion by three Chinese mobile companies -- OPPO, Vivo India and Xiaomi.
READ | Delhi witnesses wheat price hike: Rates touch Rs 2,500 per quintal in mandis
"Frequent investigations by the Indian side into Chinese enterprises not only disrupt those companies` normal business activities, but also impedes the improvement of business environment in India and chills the confidence and willingness of market entities, especially Chinese enterprises, to invest and operate in India," read a commentary in the publication.
Since April 2020, out of 382 foreign direct investment (FDI) proposals the central government received from Chinese firms, India approved only 80 as on June 29.
"The number presents the increasingly difficult business environment facing Chinese investment and companies doing business in India," the report said.
Some manufacturers have turned their eyes to Southeast Asian countries such as Vietnam after withdrawing from India.
"Faced with competition from Vietnam, India should no longer set obstacles for its manufacturing development, and should stop carrying out crackdown on Chinese investment," the report added.
Despite the Covid-19 pandemic, the China-India trade is on course to cross $100 billion for the second consecutive year as it has gone up to $67.1 billion in the first half of 2022.
"Hopefully India can provide a fair and non-discriminatory business environment for Chinese investors, which will be mutually beneficial to both Chinese enterprises and India`s manufacturing ambitions," the commentary read.
OPPO India, Xiaomi India and Vivo India were served notices by the Directorate of Revenue Intelligence (DRI) for duty evasion, Finance Minister Nirmala Sitharaman informed the Rajya Sabha this week.
A show-cause notice demanding Rs 4,403.88 crore has been served to OPPO Mobiles India Ltd based on an investigation conducted by the DRI, while five cases of Customs duty evasion have been registered against Xiaomi Technology India, Sitharaman said in a written reply.
The DRI detected customs duty evasion of around Rs 2,217 crore by Vivo Mobile India Private Ltd.
A show-cause notice has been issued to Vivo India demanding customs duty amounting to Rs 2,217 crore, under the provisions of the Customs Act.
Jeet Adani, Diva Shah are now married! Here's why their wedding was more than a mere celebration
IIT-BHU student gets highest package of Rs..., average package in 2025 is...
Music composer Anu Malik sells two Mumbai flats in Santacruz West for Rs..., co-owner is...
Jeet Adani and Diva Shah are now married; video of varmala ceremony goes viral, WATCH
Jeet Adani-Diva Shah wedding: Gautam Adani shares first pics of son's wedding, see here
Can Kejriwal win prestige battle? What are the key factors that dominated Delhi assembly polls 2025?
Subhash Ghai makes big investment, buys plush 4BHK apartment in Mumbai for...
Metovalex App Review 2025: Legit Or Scam Trading AI? - Real User Facts!
Deepinder Goyal's Zomato rebranded Eternal: Everyone has the same question
Thief gifts Rs 3cr house to girlfriend, everyone shocked after...
Who is Meghnad S? YouTuber and journalist who contested Delhi assembly polls 2025 from...
Does Sanya Malhotra's 'Mrs' promote a no-marriage culture among women?
BIG blow to Sundar Pichai as Google loses Rs 17501260000000 due to…
Caring for Ageing Parents? Essential tips to manage health, finances, and well-being
Jeet Adani-Diva Shah wedding: Inside pics from Gautam Adani's son's wedding festivity
Meet Gautam Adani’s daughter-in-law Paridhi Adani: Know about her assets, career, family, and more
Why has Premanand Maharaj stopped his morning yatras at 2 am?
Sonu Sood BREAKS SILENCE on arrest warrant against him in fraud case: 'It is sad that celebs...'
Akshata Murty once confronted her father and Infosys co-founder Narayana Murthy: 'My real dad is...'
Meet Alexis Wilkins, Trump's FBI chief pick Kash Patel's 'mystery girlfriend,' her profession is...
Fire breaks out at Mahakumbh Nagar camp, officials say no casualties reported so far
Who is Mohini Mohan Datta, mystery man set to get Rs 500 crore through Ratan Tata's will?
Cristiano Ronaldo makes shocking statement, breaks Portugal's hearts: 'I never thought about...'
Ludhiana court issues arrest warrant against Sonu Sood in fraud case
Happy Rose Day 2025: Significance of different coloured roses on Day 1 of Valentine's week
Salman Khan REVEALS why he avoids eating beef and pork: 'Main maanta hu meri maa...'
Shah Rukh Khan-Saif Ali Khan vs Aryan Khan-Ibrahim Khan: Who should be in KHNH2!
Why Israel's Benjamin Netanyahu gifted Donald Trump golden pager? It is a reference to...
Mob in Bangladesh destroys ousted PM Sheikh Hasina's family home
ISRO's EOS-06 satellite captures Phytoplankton concentration on global scale
IND vs ENG: Will Virat Kohli play in 2nd ODI vs England? Shubman Gill provides huge injury update
Who is Kiran Chaudhury? PCS officer caught in bribe case, just 4 years after posting
Jeet Adani-Diva Shah's wedding today: Know venue, gifts for guests and more
Meet woman, who works in Rs 163000 crore company, daughter of Hyderabad’s richest man
This is world's greenest railway station, 170 years old, home to over 7,000 plants, it's in....
As Sky Force nears Rs 150 crore, Nimrat Kaur treats househelp, her kids with movie screening
IND vs ENG: Shreyas Iyer creates history, becomes first player to achieve THIS massive milestone
Meet man, India's richest banker, who has bought Rs 202 crore property, his net worth is Rs...
'Heard there was....': Former India head coach provides major update on Virat Kohli's injury
A New Geopolitical Era: India and Israel's Role in the Evolving Middle East
David Warner’s touching moment with fans after Dubai Capitals reaches final of DP World ILT20
India’s Largest Book Stall Network: PrashantAdvait Foundation’s Mission to Revive Reading Culture
Mawra Hocane stuns in pastel mint green lehenga at her wedding to Ameer Gilani
Deepinder Goyal's Zomato changes its name, CEO shares journey of company, it is now called...
Rose Day 2025: Know the date, history, significance of each rose colour ahead of Valentine's day