Is there a fight or peace between China and India? India seems to have given an answer, and before the return of Chinese capital, the India government issued a new order, and the "challenge book" has been sent to China, so what is India's "challenge book"?
On September 10, India's Ministry of Finance issued a new order imposing tariffs of 12 to 30 percent on some steel products imported from China and Viet Nam "to protect and promote local industries." In fact, India steel producers have been calling on the Modi government to raise tariffs on Chinese steel products before that. However, it is worth mentioning that when the India government just issued a "challenge" to China, announcing that it would impose tariffs on some steel products imported from China, the Indian side on that side was frequently releasing the wind, hoping that China's investment in India would return. Some India economists pointed out that from April to June this year, private sector investment in India was weak, falling to a 20-year quarterly low. As of March this year, total FDI in the 2023/24 fiscal year fell for the second consecutive year. In this regard, public opinion in India has called for the solution to the above dilemma is to allow more Chinese investment into India.
Since the border clash between China and India in 2020, India has stepped up scrutiny of Chinese companies and disrupted the investment plans of large Chinese companies, including severely restricting visa issuance to China, banning hundreds of Chinese mobile apps, and delaying the approval of Chinese investment. During this period, especially India's suppression of China's millet, it can be said that everyone knows about it. Since then, the Modi government has taken action against the India branch of Chinese smartphone maker vivo, arresting a number of corporate executives on suspicion of money laundering. The Modi government's crackdown on Chinese companies has also made other foreign companies worried about India's domestic business environment, and some foreign companies have chosen to accelerate their flight from India. Many Chinese are also reluctant to travel to India for fear of arrest by the India government. Over the past four years, rising tensions with China have cost India electronics manufacturers $15 billion and more than 100,000 jobs. It can be said that this series of practices of the Modi government has further confirmed India's title of "cemetery for foreign enterprises", which is completely harmful to others and itself.
Now, seeing that the "Make in India" plan is long and long, the Modi government has begun to seek investment from Chinese companies. In mid-July this year, the annual economic survey report released by the Ministry of Finance of India showed that in order to promote the development of India's manufacturing industry, the Modi government currently has only two options: first, import more from China and integrate into China's supply chain; Second, attract more foreign direct investment from China. Even India's External Affairs Minister S Jaishankar recently began to change his tune and claim that the India government "has not rejected business activities from China" and that the question is in which industries and under what conditions China does business, although he did not elaborate on his latter sentence.
Speaking of which, is there a fight or peace between China and India? After all, for a long time, India has a so-called "dream of a great power" and has always regarded China as an "imaginary enemy" and must compete with China in everything, but the reality is that at present, India's "fight" must not be able to "fight" China, otherwise it will not hope that China's investment in India will return. To a certain extent, this also shows that India has recognized the global dominance of China's manufacturing industry and industrial chain, and realized that to develop "Made in India", it cannot be achieved without China's participation. All in all, India wants to "fight", but it does not have that strength, so it can only seek the return of Chinese investment while imposing tariffs on steel imports from China, which is called "death to face and live to suffer". If the Indian side really wants to attract investment from Chinese enterprises, the first thing to solve is to give fair, just and non-discriminatory treatment to the many unreasonable and discriminatory policies formulated by Chinese enterprises in India in terms of investment, operation and bidding.