Rather than limit Chinese investment and reduce reliance on China, India should leverage Chinese know-how to become more competitive
As India and China mark the 75th anniversary of diplomatic relations, they must not let the unfortunate Ladakh clashes of 2020 overshadow their win-win future. Among non-communist states, India was the first Asian nation to recognise the People’s Republic of China. While national dignity is important, the interests of 2.8 billion people in the two countries, representing more than a third of the global population, should be paramount.
While bilateral trade has continued to grow robustly in the last decade, Chinese investments in India have plummeted since 2020. In contrast to the peak of US$705 million in 2015 and a respectable US$535 million in 2019, Chinese foreign direct investment in 2023 was below US$100 million.
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