Raids on Vivo: China hopes for Nondiscriminatory Approach from Indian Authorities
It is pertinent to mention here that a minimum of 40 Vivo offices across India have been searched on the charges of money laundering. The offices of the Chinese phone manufacturer have been searched by the Enforcement Directorate (ED) in states including Uttar Pradesh, Bihar, Madhya Pradesh, and Maharashtra. Background: The investigation comes at a time when relations between India and China are extremely tense. In 2020, border tensions between the two neighbors increased. Since then, India has taken numerous measures to wean customers away from Chinese goods and services. It even prohibited more than 300 Chinese applications and imposed stricter regulations on Chinese investors in India. Vivo isn’t the only victim: BKK-owned Vivo is not the only smartphone manufacturer facing scrutiny under these conditions. In April, the ED accused Xiaomi India of Forex violations and confiscated $725 million in assets. However, these charges were refuted by the firm. It asserted that its executive was threatened with “physical violence” during the investigation and challenged the case in an Indian court. Apart from it, the tax authorities had already started investigating possible financial irregularities by two other Chinese companies, Oppo and OnePlus. Such investigations “impede the improvement of the economic environment in India and freeze the confidence and desire of foreign market entities, including Chinese firms, to invest and operate in India,” according to a statement from the Chinese embassy in India. Check out? China to Make Investment in EV Sector of Pakistan
