The Finance Ministry of India is considering plans to do away with five-year old restrictions on Chinese firms bidding for government contracts, sources told news agency Reuters on Thursday.
The plans come amid India’s efforts towards reviving commercial relations with Beijing after border and diplomatic tensions have eased recently. Restrictions on China had been in place since 2020 following a deadly border clash between the nations’ troops.
These measures had reportedly weighed down on Indian Government departments and ministries and delayed development of projects, specifically in the power sector.
“Several ministries have requested exemptions to overcome the constraints that could derail projects in their sectors,” the government source told Reuters.
(This is a developing story)
. Read more on Economy & Finance by NDTV Profit.