India to fast-track Chinese investments in more sectors, says official

By Shivangi Acharya and Manoj Kumar

NEW DELHI, March 11 (Reuters) - India will allow Chinese investment in additional sectors through a fast-track approval mechanism, New Delhi's investment secretary said on Wednesday.

Based on domestic manufacturing needs, the government will add more categories to the list of sectors where Chinese investment proposals must be processed within 60 days, Amardeep Singh Bhatia told reporters.

New Delhi on Tuesday scrapped the blanket requirement for government approval for companies with up to 10% Chinese ownership, easing cross-border deal-making that had largely been frozen since the deadly 2020 Galwan border clash.

Under the revised rules, investments in sectors such as electronics, capital goods, solar cells and battery components will be cleared within 60 days, provided Indian residents retain majority control.