India ready to fight China at WTO, but won’t budge on FDI restrictions

India ready to fight China at WTO, but won’t budge on FDI restrictions

India is prepared to face the music at the planet Trade Organization (WTO) if China lodges a complaint against the former’s alleged “discriminatory” restrictions on Foreign Direct Investment (FDI) from the latter, a senior official has said.  “China can little question drag India to the WTO for discriminating against it within the area of investment rules. But because the WTO’s dispute settlement system has been rendered dysfunctional by the US at the instant , India doesn't face any real threat of immediate penalties,” said a government official. Government filter Beijing had reacted strongly to India’s decision to form it mandatory for all investments from China, and 6 other countries with which India shares a land border, to be routed through the govt channel. The Centre has said the move is important to stop hostile takeovers at a time when Covid-19 has made Indian entities vulnerable. Since India’s FDI policy ordinarily allows foreign investments during a sizable amount of s…