Maharashtra govt puts Chinese investment work ₹5000 crores on hold

New Delhi, June 22: Following S Jaishankar led Union Ministry of External Affairs (MEA)'s advisory to not sign any further agreements with Chinese companies, Maharashtra Government has put three recently signed agreements with total proposed investment to the tune of Rs 5,000 crore on hold.

"The decision has been taken in consultation with the Union government'', said industry minister Subhash Desai.

The agreements had been signed recently at the Magnetic Maharashtra 2.0 investor summit, before 20 Indian Army's soldiers were martyred at the Line of Actual Control (LAC) as an outcome of China's belligerent adventurism and excesses in Eastern Ladakh.

On Tuesday, China''s automaker Great Wall Motors had signed a memorandum of understanding with the Maharashtra government while staying committed to a phased investment plan of USD 1 billion for a factory in the state that will generate employment for 3,000 people.

Amid the border tension with China, there has been clamour in the country for boycotting China-made products and for cancelling contracts given to Chinese companies.
The violent faceoff of Monday night was the biggest military confrontation between the two countries in over five decades that has significantly escalated the already volatile border standoff in the region.