India plans to fast track the review of some investment proposals from neigbouring countries such as China following concerns new screening rules could hit plans of companies and investors, three sources told Reuters on Saturday.
The Chinese Embassy in New Delhi has called the new screening policy discriminatory.
“We will try to fast track investment proposals as soon as possible. It may be faster for some and in others we might take some time,” said the official, who did not want to be named due to the sensitivity of the discussions. Dipti Lavya Swain, a partner at Indian law firm HSA Advocates which advises Chinese companies, said sectors such as telecoms, financial services and insurance were likely to be deemed more sensitive than others such as automobiles and renewable energy.
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