Foreign investment has to be as per laws, security concerns:India

New Delhi, Sep 6 (UNI) India today welcomed investments from China but said any foreign investment in the country had to be in accordance with relevant domestic laws and security concerns.

A spokesman of the External Affairs Ministry said in response to a question that India had been pursuing a policy of closer economic engagement with China.

Trade with China had shown a rapid increase and the number of Chinese companies operating in India and Indian Companies operating in China had grown significantly.

''While we welcome foreign investments and companies in India, this has to be in accordance with our relevant domestic laws and regulations, and taking into consideration, inter alia, our security concerns and assessments,'' the spokesman said.

As part of this policy, India also welcomed investments from China, the spokemsan said and expressed confidence that the India-China economic engagement would continue to expand and grow.

Chinese Ambassador to India, Sun Yuxi, said China wanted to go in for large-scale investment in India but was facing difficulties because of restrictions.

''We are facing restrictions on investing here. We are facing difficulty in investing here,'' the Ambassador told journalists here on Monday.

UNI RB VD BS1942