Maha Govt Freezes Great Wall Motors Investment Worth Rs 3,700 Crore Amid India-China Standoff

File photograph of Maharashtra CM Uddhav Thackeray. (Image Source: PTI)

There has been a surge in demand throughout within the nation to boycott Chinese investments and merchandise within the backdrop of the mounting tensions between India and China.

  • IANS Mumbai
  • Last Updated: June 23, 2020, 9:04 AM IST

The Maharashtra authorities has placed on maintain three main agreements signed with Chinese firms on the not too long ago concluded Magnetic Maharashtra 2.zero investor meet, officers stated.

The proposed initiatives entail investments of round Rs 5,000 crore within the state.

“We have taken this decision in consultation with the Central government. These agreements were signed prior to the development on the Indo-China border and killing of 20 Indian soldiers,” Industry Minister Subhash Desai stated.

He added that the Ministry of External Affairs has suggested the state authorities towards signing any additional agreements with Chinese firms.

It could also be recalled that on the on-line Magnetic Maharashtra 2.zero meet, the state authorities signed agreements value over Rs 16,000 crore with world firms together with Chinese teams.

They embody a Rs 3,770-crore MoU with the Great Wall Motors to arrange an car manufacturing unit in Pune’ Talegaon and a Rs 1,000-crore in partnership with Foton (China) and PMI Electro Mobility.

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Besides, Henglu Engineering made a dedication of Rs 250-crore for the growth plans at its unit Phase II in Pune.

Apart from China, the state signed round 9 different MoUs with firms from the US, South Korea, Singapore and numerous home entities, with big employment technology potential.


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