Tuesday, October 17, 2006

It's official: China is India's security threat

Excerpt:

It's official: China is India's security threat

By Indrajit Basu
The Indian government is drafting a new foreign direct investment (FDI) policy that will, for the first time, include China on a list of countries not limited to Pakistan and Bangladesh that are considered a sensitive for India's national security.

New Delhi has long been wary of allowing Chinese to invest in sensitive sectors, such as ports and telecommunications, but the new edict will extend security reviews to all sectors, including such innocuous sectors as household appliances. For the first time China will be officially labeled a "security risk".

Once the new FDI norms come into effect, it would mean an end to all automatic clearances for Chinese investments under India's supposedly liberalized FDI laws as each an every investment coming from China will have to undergo scrutiny by the Indian security agencies.

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Source: Asia Times Online

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