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New Rules for Chinese Mobile companies: The central government has prepared a new plan for Chinese mobile companies. Under this plan, now Chinese companies will have to do business in India. According to the Economic Times report, the central government has asked other Chinese companies including Xiaomi, Oppo, Realme and Vivo to involve Indian equity partners in their local operations. Also, the government has asked companies to place Indian people in top positions like their Chief Executive Officer ie CEO, Chief Financial Officer (CFO), Chief Technical Officer (CTO) etc.
Tax rules have to be followed
Apart from this, companies have been instructed to appoint Indian contract manufacturers, increase manufacturing to local level through joint ventures, expand exports from India and appoint only local manufacturers. Along with this, companies have also been asked to follow the tax policies. Let us tell you, the new rules for Chinese companies have been framed by the Ministry of Electronics and Information Technology (MeitY). During this, the central government had a meeting with Chinese mobile firms and India Cellular and Electronics Association (ICEA). These new rules and meeting were done by the government because many Chinese smartphone companies are under investigation for tax evasion and illegal transactions worth thousands of crores of rupees.
The government has also made new rules so that Chinese companies can take advantage of the local talent present in India and by manufacturing the products in India, they can reach abroad, which will provide employment to the common people.
Xiaomi’s strong business in India
The Chinese mobile company whose phones are sold the most in India is Xiaomi. After this comes the name of other mobile companies including Oppo, Vivo. There is a high demand for budget smartphones in the Indian market and keeping this in mind, Chinese companies have increased their business to crores of rupees today.
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