In a statement released on June 22, the Industries Minister Subhash Desai said that the project investment in the state worth Rs 5,020 crore has not been cancelled though further directions on the same are awaited.
As quoted in media reports, the minister clarified that the status quo does not mean cancellation of the MoUs. He briefed that "status quo will be maintained on the MOUs with the Chinese companies for the moment.
This does not mean that they have been rescinded or cancelled. In fact, further developments on the same are awaited.
Hours before the violent face-off between India and China, the Maharashtra government on June 15 had signed MoUs worth Rs 16,000 crore under the Magnetic Maharashtra 2.0 investor summit. At the concluding hours of the event, the government had signed deals with at least 12 different countries. Of the 12, three were china based firms.
The three Chinese companies Hengli Engineering, PMI Electro Mobility Solutions JV with Photon and Great Wall Motors were to invest in projects in Talegaon, an industrial hub in Pune district, an official statement had said earlier.
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According to the statement, Hengli Engineering was to invest Rs 250 crore and PMI Rs 1,000 crore in the auto sector while the Great Wall Motors was to set up an automobile company with an investment of Rs 3,770 crore.
However, after since the India-China face off, a raging anti-china sentiment has been on the radar in India. The relationship between India and China has come under severe strain following the troops of the two countries locked horns in the Galwan Valley in Ladakh, in which 20 Indian Army personnel were martyred.
Amid such a situation, the governments clarity on the policy remains awaited in connection with the projects worth Rs 5,020 crore.
(With inputs from PTI news agency)