India has arrested Chinese executives and released them in less than a month, what does Modi want?
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The Indian market is both loved and hated by foreign companies, who not only cannot afford the huge potential of the Indian consumer market, but also have to contend with the poor business environment in India. In the beginning, the Indian market was not bad, and there were many ways to get political support from India. But after a long time, India began to play small tricks.
The freezing of Xiaomi's assets worth 4.8 billion euros in India is still fresh in our minds, and the executives of Vivo's Indian subsidiary have also been revealed. But with India arresting Chinese executives and releasing them in less than a month, what is Modi going to do?
India captures and releases vivo executives.
Due to the rapid growth of the population, India is ambitious in the development of the manufacturing industry, so India is aware of the need to vigorously develop the manufacturing industry in order to convert the demographic dividend and ensure the employment of the population. However, some of the measures taken by India have caused many foreign companies to lose confidence in the Indian market and become wary of investing in Indian manufacturing, which is not an easy task.
The most typical case is that Xiaomi was established in India for ten years and has made significant contributions to the Indian manufacturing industry, but after making money, India violated the Foreign Exchange Management Taxation Act and froze Xiaomi's assets worth 4.8 billion yuan, and the money has not been recovered so far.
In addition, another Chinese phone maker, vivo's company in India, was also raided in India, with two executives suspected of money laundering in early December 2023**. The captors said that India acted suddenly, giving reasons on the surface, but in fact did not provide substantial evidence.
I thought there would be no good results, but I didn't expect India to release the person at the end of December and only pay a bail of 200,000 rupees, which is equivalent to 170,000 RMB.
India went to great lengths to arrest people and release them in less than a month, and the bail was only 170,000 yuan, which doesn't seem right at all. If vivo was really suspected of money laundering, India would not have released it so easily. India said"Suspicion of money laundering"The reasons are very contradictory.
This can only tell one thing: India knew from the beginning that the so-called money laundering was just a **, just to find an excuse to target Chinese companies and then take action.
What Modi intends to do.
India arrested the Chinese executive and released him in less than a month. What has India gained from this series of actions? What is Modi going to do?
In fact, India really wants to let local companies rise, but foreign companies are too strong, and local companies are not opponents at all. Most of India's top five smartphone brands are from China, as are South Korea's Samsung and the United States' Apple company. In contrast, the Indian manufacturer could not fight back.
Modi is in a hurry, and if this continues, the money in the Indian market will be made by others, and he will not be able to make anything. Modi's goal is to make India the world's third-largest economy after Germany and Japan, but it will not be easy to achieve.
As a result, India has had to start with foreign companies, using fines, confiscation of assets and raids to force them to retain their funds. At the same time, India also wants to have Indian citizens as executives of Chinese companies so that Indian industry can grow rapidly.
India's tricks may be able to manage for a while, but not for a lifetime; As soon as foreign companies leave, India will be completely out of play.
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