Parth Jindal vows to bring down Chinese investment from $400 million to zero

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Parth Jindal
Image: Twitter screenshot

Indian businessman Parth Jindal, the managing director of JSW Cement has slammed Chinese authorities for the Galwan Valley faceoff that killed at least 20 Indian soldiers.

Taking to Twitter, Jindal said, “The unprovoked attack by the Chinese on Indian soil on our brave jawaans has been a huge wake up call and a clarion call for action – we @TheJSWGroup have a net import of $400mn from China annually and we pledge to bring this down to zero in the next 24 months.”

Indian businessman Parth Jindal, the managing director of JSW Cement has slammed Chinese authorities for the Galwan Valley faceoff that killed at least 20 Indian soldiers.

Taking to Twitter, Jindal said, “The unprovoked attack by the Chinese on Indian soil on our brave jawaans has been a huge wake up call and a clarion call for action – we @TheJSWGroup have a net import of $400mn from China annually and we pledge to bring this down to zero in the next 24 months.”

Jindal’s tweet comes a day after businessman Anand Mahindra also slammed Chinese media, who tried trolling India over the ban of 59 Chinese apps including TikTok.

Hu Xijin, the editor of English China daily Global Times tweeted, “Well, even if Chinese people want to boycott Indian products, they can’t really find many Indian goods. Indian friends, you need to have some things that are more important than nationalism.”

To which Anand Mahindra replied, “I suspect this comment might well be the most effective & motivating rallying cry that India Inc. has ever received. Thank you for the provocation. We will rise to the occasion…”

On Wednesday, Union Minister Nitin Gadkari also announced that India will not allow Chinese companies to participate in highway projects, including those through joint ventures.

Gadakri also said the government will ensure that Chinese investors are not entertained in various sectors like Micro, Small and Medium Enterprises (MSMEs). The senior minister’s assertions assume significance against the backdrop of border standoff between India and China in Ladakh that also saw the death of 20 Indian Army personnel last month.

The Road Transport, Highways and MSME minister said a policy will be out soon banning Chinese firms and relaxing norms for Indian companies to expand their eligibility criteria for participation in highway projects. Currently only a few projects which were undertaken much earlier involve some Chinese partners. When asked about this, the Minister said that the new decision will be implemented in current and future tenders. With respect to existing tenders and future bids, Gadkari said rebidding would be done if there are any Chinese joint ventures

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