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Crack down on OPPO, Vivo, Xiaomi can push them to leave India: Chinese state media
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IANS | 06 Aug, 2022
For
Chinese processing and manufacturing enterprises that originally tried
to make India an overseas product-processing centre, if it is indeed
increasingly difficult and unprofitable to operate in the country, then
withdrawing from India is also an available option, state-run Global
Times has said.
The Indian government is looking into
cases of alleged tax evasion by three Chinese mobile companies -- OPPO,
Vivo India and Xiaomi.
"Frequent investigations by the Indian
side into Chinese enterprises not only disrupt those companies' normal
business activities, but also impedes the improvement of business
environment in India and chills the confidence and willingness of market
entities, especially Chinese enterprises, to invest and operate in
India," read a commentary in the publication.
Since April 2020,
out of 382 foreign direct investment (FDI) proposals the central
government received from Chinese firms, India approved only 80 as on
June 29.
"The number presents the increasingly difficult business
environment facing Chinese investment and companies doing business in
India," the report said.
Some manufacturers have turned their eyes to Southeast Asian countries such as Vietnam after withdrawing from India.
"Faced
with competition from Vietnam, India should no longer set obstacles for
its manufacturing development, and should stop carrying out crackdown
on Chinese investment," the report added.
Despite the Covid-19
pandemic, the China-India trade is on course to cross $100 billion for
the second consecutive year as it has gone up to $67.1 billion in the
first half of 2022.
"Hopefully India can provide a fair and
non-discriminatory business environment for Chinese investors, which
will be mutually beneficial to both Chinese enterprises and India's
manufacturing ambitions," the commentary read.
OPPO India, Xiaomi
India and Vivo India were served notices by the Directorate of Revenue
Intelligence (DRI) for duty evasion, Finance Minister Nirmala Sitharaman
informed the Rajya Sabha this week.
A show-cause notice
demanding Rs 4,403.88 crore has been served to OPPO Mobiles India Ltd
based on an investigation conducted by the DRI, while five cases of
Customs duty evasion have been registered against Xiaomi Technology
India, Sitharaman said in a written reply.
The DRI detected customs duty evasion of around Rs 2,217 crore by Vivo Mobile India Private Ltd.
A
show-cause notice has been issued to Vivo India demanding customs duty
amounting to Rs 2,217 crore, under the provisions of the Customs Act.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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UK Pound
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Euro
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₹106.9 |
| Japanese
Yen |
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₹57.9 |
| As on 24 Jun, 2026 |
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