India has set up new rules after 5 billion, and the high-level must be Indians, and foreign media Modi has to make inches
There is a saying circulating in the Indian market:"India earns Indian spend, and doesn't take home a penny!"
At first glance, this may seem like a joke, but over the years, real cases abound, and world-renowned companies such as Ford, Amazon, Microsoft, and Xiaomi have all suffered losses, so it can be seen that this sentence will inevitably seem not empty!
Not long ago, after India confiscated more than 5 billion of Xiaomi's Indian assets and set new rules, many people shouted"There is no shame"！Even foreign ** commented indignantly: Modi has already started to act!
Xiaomi has been deeply cultivated in India for ten years, but in the end, it was ..."Steal"walked more than 5 billion yuan, I think everyone remembers this incident vividly, but this also proves that India is a country"Ambition"with"It's expensive to eat!"o
Although Xiaomi is not the first in the Indian region"Suffer"but it is the biggest loser, such as Microsoft, Ford, Amazon and other American companies, because it is usually fined 1-300 million US dollars, which is equivalent to about 2 billion yuan.
Xiaomi, a Chinese company, has worked hard in India for 10 years, gaining more than 30 million fans, and its total revenue has reached billions of yuan"Looted"！
In January 2022, the Inland Revenue Authority of India (IRD) issued a record of"Tax evasion"with"Fake accounts"For the reason to punish Xiaomi 65Rs 300 million (about 5.)R$600 million).
In April 2022, India's Enforcement Directorate accused Xiaomi of illegally sending money to foreign entities in violation of India's local Foreign Exchange Management Act, freezing Xiaomi's funds totaling 55.5 billion rupees (equivalent to about 4.8 billion reais).
The so-called offshore entity is actually the headquarters of the Chinese company Xiaomi in China, and it is normal for its subsidiaries to remit income to the parent company, but to do so is a violation of India's Foreign Exchange Management Act!
Although Xiaomi has been speaking for itself, claiming that all its operations are in line with the world's best rules, the result is still to no avail, it is simply gratuitous"Open theft"！
It is known that the so-called in India"Foreign Exchange Management Act"There are several provisions that are difficult to understand, first of all, the foreign exchange of foreign companies is uniformly managed by the Bank of India, and the amount of foreign exchange held and realized is severely limited, and it is almost impossible to remit abroad on a large scale.
Second, foreign companies must expose their technology to Indian employees and hire locals, help train Indian managers, etc. Although the income of the local population is not high, these regulations are undoubtedly excessively demanding.
As far as these two provisions of the Foreign Exchange Management Law are concerned, it can be said that they are no less than those of the United States from TSMC, Samsung and other companies"Extraction"of"Chips and Science"The provisions of the bill are simply shameful!
But even so, Indian officials are still not satisfied, and not long ago they announced new rules again, the content of which is shocking"Foodie"The United States, no less than capitalism, call it"Exploiters"It's not an exaggeration!
According to India** and the Global Times: India** has new requirements for Chinese smartphone makers Oppo, Vivo and Xiaomi, according to which the chief executive officer (CEO), chief financial officer (CFO), chief operating officer (COO) and chief technology officer (CTO) of these companies must be Indian citizens and must be replaced before the regulations come into effect!
In layman's terms, apart from not being able to take home money earned in the Indian market, the company's senior management must all be of local nationality and must be replaced by Indians before this new regulation comes into effect.
In addition, the production lines of the products sold by the manufacturer in India must be set up locally, which means that the production dividend must also be provided to the Indian people.
It is equivalent to India not spending a penny directly"Acquisitions"These foreign companies, it has to be said, even the United States passed"Chips and Science"Act"Obstruction"The incident of TSMC, Samsung and SK hynix, Biden ** may not be so excessive!
India, a country that ranks 14th in the world in terms of comprehensive ranking and 8th in the world in terms of economic level, has unscrupulously passed the international **"Squeezing"Foreign-funded enterprises do not take the world's best rules into account at all!
However, in the face of India's current unyielding efforts"Thief barbarism"In fact, the best option is to withdraw from the Indian market, and only in this way can we avoid being Modi"Hollowed out"。
Although China's smart phones still have a large market share has not yet been developed, the results of continued operation will never be optimistic, but it is better to increase investment in China, which is conducive to the development of China's economy and science and technology.