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.
Major General level talks between India-China underway at Ladakh
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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.
Jibe at China? They are not the bats, they are the Batman says Army
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.