New Delhi: – The Indian government has amended the regulations to prevent the entry of Chinese investment in the Indian coal mining sector. According to this, every company from the neighbouring countries will need government approval for any investment in a coal mine. Two months ago, the government opened up the coal mining sector for private sector investment. The government took this decision so that foreign investments come into the industry. The coal production has been increased, and coal imports have been stopped. But against the background of the Ladakh conflict, the Indian government has shut one more door for Chinese investment, in the Indian market.
The Union Coal Ministry has prepared a list of regulations for the tenders to be floated for the coal excavation. Although the permission for 100% foreign investment has been granted in this sector, the Automatic Route for investments coming from neighbouring countries has been closed. This means that the government will be scrutinising the proposals received from the companies from the neighbouring countries to permit these companies to participate in the coal auctions.
This strategically most crucial sector was not open for private investments so far. But, in the last few days, the government took some major decisions to attract more investors. The decision to open the coal sector for 100% private investment is considered to be very important. But the regulations for the companies from neighbouring countries have been made stricter to prevent the Chinese companies from taking undue advantage. There are 41 coal mines with 17 billion tonnes of coal deposits located in the states of Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra and Odisha in the first phase of the auction.
Meanwhile, instructions have been issued to Google play store and Apple app store to remove the Vibo and Vidu apps.