What's new

Will bar companies from countries that bar Indian firms: India may soon bar Chinese firms

Laozi

SENIOR MEMBER
Feb 8, 2016
3,963
-24
4,290
Country
India
Location
India
Will bar companies from countries that bar Indian firms: Goyal
IANS | New Delhi May 23, 2017 Last Updated at 20:48 IST




Companies from countries that do not allow Indian firms to do business will not be permitted to come to India, Power Minister Piyush Goyal said on Tuesday.

"Reciprocity should be there. Is India a punching bag that if you want then you can come and invest in India and earn, and Indian companies cannot come and earn in your country? We believe in reciprocity and it is also a display of our strength," Goyal told reporters at the launch here of a mobile app developed by Coal India.

"There is no intention to bar any particular country. We don't have problem with any country. But I think India should work with reciprocity with every country," he said.

The Minister's remarks come in the wake of media reports that India may soon bar Chinese firms from projects in the power sector, as China does not favour foreign investment in its electricity grids for security-related reasons.

"If any transmission company of India like Power Grid cannot bid in any other country, cannot invest in any other country, cannot set up transmission lines in any other country, then I will not allow any company of that country to come to India," Goyal said.

In response to another question, Goyal, who is also the Minister for Coal and Mines, said an inter-ministerial committee will meet on Thursday to discuss the modalities with regard to a policy on auction of mines to the private sector for commercial mining.

"An inter-ministerial committee will meet on May 25 to take this (commercial mining policy) further," he said.

Earlier, Goyal launched the mobile app 'Saral Eindhan Vitaran App (SEVA)' developed by state miner Coal India Limited (CIL) for power sector consumers to facilitate increasing transparency and accountability in coal dispatches

http://www.business-standard.com/ar...at-bar-indian-firms-goyal-117052301531_1.html
 

beijingwalker

ELITE MEMBER
Nov 4, 2011
38,317
1
73,868
Country
China
Location
China
India's trade volume is not big for China, so it doesn't matter. and Indian people will pay multiple times more money to get what they need in life but if that's the way you want, then be it.
 

Brickwall

FULL MEMBER
Jun 28, 2014
1,020
-3
787
Country
India
Location
India
India's trade volume is not big for China, so it doesn't matter. and Indian people will pay multiple times more money to get what they need in life but if that's the way you want, then be it.
First Every country has their rules. And if china doesn't allow investment of foreign country to invest in their critical infrastructure, It has no business to question to another country.

And importantly we are not beggars like some, Chinese companies come here , because they earn profits, they can invest as per rules of country we are not begging for their money, if they find it somewhere else profitable please take it there.
 

jetray

SENIOR MEMBER
Jan 23, 2016
2,717
-7
2,375
Country
India
Location
India
Will bar companies from countries that bar Indian firms: Goyal
IANS | New Delhi May 23, 2017 Last Updated at 20:48 IST




Companies from countries that do not allow Indian firms to do business will not be permitted to come to India, Power Minister Piyush Goyal said on Tuesday.

"Reciprocity should be there. Is India a punching bag that if you want then you can come and invest in India and earn, and Indian companies cannot come and earn in your country? We believe in reciprocity and it is also a display of our strength," Goyal told reporters at the launch here of a mobile app developed by Coal India.

"There is no intention to bar any particular country. We don't have problem with any country. But I think India should work with reciprocity with every country," he said.

The Minister's remarks come in the wake of media reports that India may soon bar Chinese firms from projects in the power sector, as China does not favour foreign investment in its electricity grids for security-related reasons.

"If any transmission company of India like Power Grid cannot bid in any other country, cannot invest in any other country, cannot set up transmission lines in any other country, then I will not allow any company of that country to come to India," Goyal said.

In response to another question, Goyal, who is also the Minister for Coal and Mines, said an inter-ministerial committee will meet on Thursday to discuss the modalities with regard to a policy on auction of mines to the private sector for commercial mining.

"An inter-ministerial committee will meet on May 25 to take this (commercial mining policy) further," he said.

Earlier, Goyal launched the mobile app 'Saral Eindhan Vitaran App (SEVA)' developed by state miner Coal India Limited (CIL) for power sector consumers to facilitate increasing transparency and accountability in coal dispatches

http://www.business-standard.com/ar...at-bar-indian-firms-goyal-117052301531_1.html
Good decision we should implement this strictly with all the countries with out any bias. They want to have trade/services with us then they should open their economy as well. We have a ton of MNC's which make a lot of money and sending back to their home country but at the same time not giving access to their market.
India's trade volume is not big for China, so it doesn't matter. and Indian people will pay multiple times more money to get what they need in life but if that's the way you want, then be it.
Then why do you ppl invite India to join OBOR if we dint have the market? Dont just make some rubbish stmt just for sake of it.
 

Tom M

SENIOR MEMBER
Sep 8, 2016
4,898
-15
3,339
Country
United Kingdom
Location
India
India's trade volume is not big for China, so it doesn't matter. and Indian people will pay multiple times more money to get what they need in life but if that's the way you want, then be it.
Our country, our rules. :)

It's just plain and simple, if you want your companies to do business in India, allow similar incentives to Indian companies to operate out of your country, a give and take policy, not a take away one. :P
 

Srinivas

ELITE MEMBER
Sep 20, 2009
12,354
-24
15,036
Country
India
Location
India
This decision is long pending, Chinese are hypocrites they frame rules to make the life of foreign companies difficult in their country and at the same time ask other countries to open their markets.
 

ckf

FULL MEMBER
May 16, 2017
135
0
140
Country
Canada
Location
Canada
This decision is long pending, Chinese are hypocrites they frame rules to make the life of foreign companies difficult in their country and at the same time ask other countries to open their markets.
All i get from the article is that "No bribe" no contract. Receiprocity doesn't work because India builds things only for Indians is protectionism much like this proposed legislation.
 
Last edited:

Tom M

SENIOR MEMBER
Sep 8, 2016
4,898
-15
3,339
Country
United Kingdom
Location
India
All i get from the article is that "No bribe" no contract. Receiprocity doesn't work because India builds things only for Indians much like this proposed legislation.
Exactly, India should be building things for Indian's, just like any other country do. We are not an exception in that case. :)
 

Users Who Are Viewing This Thread (Total: 1, Members: 0, Guests: 1)


Top Bottom