In April 2020, as the world struggled with the Covid-19 pandemic and soldiers from India and China moved towards a large-scale border stand-off, New Delhi amended its foreign direct investment (FDI) policy to require prior government approval for all investments from countries sharing a land border with India – a measure directed at China. Nearly six years on, India has changed its FDI policy again. It is a significant move for India-China relations. During the pandemic, the FDI regulation…
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