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CHINA HAS 0.51% OF TOTAL FDI IN INDIA

In the last 20 years, China has accounted for just 0.51% of the total foreign direct investment that has come into Indian companies, and ranks a lowly 18, according to Indian government data.

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In the last 20 years, China has accounted for just 0.51% of the total foreign direct investment that has come into Indian companies, and ranks a lowly 18, according to Indian government data.

India, in turn, looked at China as the factory of the world, driven by state support, top-notch infrastructure and economies of scale. In fact, the big story in the 2000s was about Indian manufacturers setting up factories in China to tap these advantages.

China welcomed them. When Indian automobile component company Sundram Fasteners set up a factory in Wuyuan town in China’s Zhejiang province more than a decade ago, local authorities named a road in the town after the Chennai-headquartered company. Till 2018, as per Indian government data, Indian companies had invested $1.09 billion in China.

Initially, foreign direct investment from China to India was predominantly by state-owned companies investing in the infrastructure space. Over the last 10 years, however, this has started to change with China’s reputation as a technology superpower growing.

Chinese tech giants such as Baidu, Alibaba and Tencent started investing in fledgling Indian companies. According to data from technology a research firm, 28 Chinese corporates have invested in Indian startups since 2010. Leading them are Tencent and Xiaomi. Tencent, for instance, has 16 Indian companies in its portfolio, including the unicorn startups—those valued at more than $1 billion—Byju’s, Dream11, Flipkart, Hike, Swiggy and Udaan. Other companies in which it has a stake include Ibibo Group, KhataBook, MyGate, NewsDog and Practo. All of these companies are visible and flag bearers of the Indian startup ecosystem.

Another set of investors are Chinese venture capital firms, and 41 of them have invested into Indian startups. Shunwei Capital leads with 16 portfolio companies, Cashify, Chalo, Clipapp and KrazyBee, to name a few. It is followed by Swastika, with 12 companies including HelloDhobi, InstaCar, Makkajai, Pickrr and Pocketin.

In all, these 69 Chinese companies and VCs have invested in 104 Indian startups. In the overall Indian startup landscape, that’s a small patch. Only 17 of these companies and VCs had more than one company from India. According to available data, till the end of last year, 6,114 Indian startups had received funding. Unlike trade, investment in India is a small space for China so far.

India News

Delhi LG VK Saxena directs probe into remarks against Kangana Ranaut by Congress leader Supriya Shrinate

The Delhi Police will investigate who was behind the said social media post and whose mobile phone was used for the purpose.

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Delhi lieutenant governor Vinai Kumar Saxena today sought a detailed probe from Delhi Police commissioner Sanjay Arora in relation with the alleged defamatory social media post made by Congress’s Supriya Shrinate against actor-turned-politician Kangana Ranaut.

Reportedly, BJP candidate from New Delhi Bansuri Swaraj had given a complaint to the LG seeking probe and registration of an FIR against Shrinate for outraging the modesty of a woman. Subsequently, the Delhi LG has forwarded the complaint to the Delhi Police Commissioner, directing a scientific investigation in the matter and initiation of legal action, if necessary.

Reports said that the Delhi Police will also investigate who was behind the said social media post and whose mobile phone was used for the purpose. A major controversy erupted on Monday after an objectionable post from Supriya Shrinate’s social media handle against Kangana Ranaut, who has been announced as the BJP candidate from Himachal Pradesh’s Mandi.

Responding to the remarks, Kangana Ranaut said that they must free the daughters from the shackles of prejudices and must rise above the curiosity about their body parts. She added that people must refrain from using sex workers’ challenging lives or circumstances as some kind of abuse or slur. She concluded that every woman deserves her dignity. As the controversy intensified, the Congress leader asserted that someone else had posted the objectionable content from her handle. 

Meanwhile, the Election Commission on Wednesday issued a show cause notice to Congress leader Supriya Shrinate for her derogatory remarks against Kangana Ranaut. The Election Commission observed that the remarks are undignified and in a bad taste. The election body asked the Congress leader to respond to the commission by Friday. In the notice, the Election Commission stated that the statements made by the leader is prima facie violative of the Model Code of Conduct (MCC) being in force ahead of the Lok Sabha elections. 

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Bollywood actor Govinda joins Maharashtra Chief Minister Eknath Shinde’s Shiv Sena

Govinda on his official induction in the party by CM Eknath Shinde said he is joining Shiv Sena and it is a blessing from God. He said he thought he would not enter politics again. Govinda said Mumbai looks cleaner and better now.

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Bollywood actor Govinda joined Maharashtra chief minister Eknath Shinde’s Shiv Sena on Thursday ahead of the upcoming Lok Sabha elections in Maharashtra. In 2004 Govinda contested from Mumbai North Lok Sabha on a Congress ticket and earned the nickname of a giant slayer as he defeated BJP’s Ram Naik. He resigned from the party and said that he had decided to take a break from politics.

Govinda on his official induction in the party by CM Eknath Shinde said he is joining Shiv Sena and it is a blessing from God. He said he thought he would not enter politics again. Govinda said Mumbai looks cleaner and better now. He said his parents had a good relationship with Shiv Sena founder Balasaheb Thackeray.

Shiv Sena leader Krishna Hedge met the Bollywood actor at his residence in Juhu. Maharashtra CM Eknath Shinde said the actor’s joining the Shiv Sena does not come with a rider. Govinda said whatever work is assigned to him, he will do it to the best of the ability. He said he was a part of the 14th Lok Sabha and has returned to politics after 14 years.

Speaking about his role in politics, the actor said he would transform the film city of Mumbai. He did not reply when he was asked about contesting elections. Govinda said everybody has seen the same level of progress in Maharashtra in the last 2 years, as it has been seen in the country in the last 10 years. He said he is going to focus on the beautification of the state and work towards the growth of art and culture.

Rajya Sabha MP Milind Deora welcomed Govida into the party and said he has known the veteran Bollywood actor for almost 25 years. He recalled the 2004 election and said both of them had fought elections together.

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To browbeat, bully others is vintage Congress, says PM Modi after lawyers express concern over attempts to undermine judiciary

Lawyers, including Harish Salve and Bar Council chairperson Manan Kumar Mishra, wrote to CJI DY Chandrachud, alleging that a vested interest group is trying to put pressure on the judiciary and defame courts, particularly in cases of corruption involving politicians.

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PM Narendra Modi on Thursday launched a scathing attack on the Congress party after more than 600 lawyers and some bar associations across the country wrote to the Chief Justice DY Chandrachud, expressing concerns over attempts to undermine the judiciary’s integrity using political and professional pressure.

Taking to social media platform X, PM Modi wrote that to browbeat and bully others is vintage Congress culture. He recalled that five decades ago, the party itself had called for a committed judiciary, adding that they shamelessly want commitment from others for their selfish interests, but desist from any commitment towards the nation. He concluded that no wonder, 140 crore Indians are rejecting them.

Prime Minister Narendra Modi’s comments followed after lawyers, including Harish Salve and Bar Council chairperson Manan Kumar Mishra, wrote to CJI DY Chandrachud, alleging that a vested interest group is trying to put pressure on the judiciary and defame courts, particularly in cases of corruption involving politicians.

The lawyers said the tactics used by the vested interest group are damaging the courts and threatening democratic fabric. They stated that Chief Justice Chandrachud’s leadership is crucial in these tough times and the Supreme Court should stand strong, adding it is not the time to maintain dignified silence.

Without naming, the letter also targeted a section of lawyers and alleged they defend politicians by day and then try to influence judges through the media at night. Furthermore, they claimed that some elements are trying to influence who the judges are in their cases and spread lies on social media to put pressure on the judges to decide in a particular way.

In addition, the All Manipur Bar Association had also written to CJI DY Chandrachud highlighting the need to speak out against underhanded attacks on the judiciary on Wednesday. In its letter, the bar association said that it was extremely concerned about recent trends where vested interest groups were trying to defame the courts with frivolous logic and stale political agendas.

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