Almost Rs 5,000 crore Chinese investment rests in Pune

ST Staff
Wednesday, 24 June 2020

The India-China relationship has hit a rocky phase which has pushed Indians to opt for Make in India products. However, an interesting development has come to fore. Investments worth Rs 4,936 crores by various Chinese companies have been made in the Pune district.

Pune:  The India-China relationship has hit a rocky phase which has pushed Indians to opt for Make in India products. However, an interesting development has come to fore. Investments worth Rs 4,936 crores by various Chinese companies have been made in the Pune district.

Maharashtra is India's worst-affected state in terms of the COVID-19 spread. The total infected number is speeding to the 1.4 lakh mark. Close to 6,300 people have lost their lives. There is a rising anti-China sentiment among masses as the origin of coronavirus was in the city of Wuhan in China. To make matters worse, the dispute at Galwan Valley in Ladakh last week led to the killing of 20 Indian soldiers by Chinese forces.

Banning Chinese goods is one voice that's echoing across India and can be heard more prominently in Maharashtra.

However, Pune district alone has heavy investments from six companies from China, based in Maharashtra Industrial Development Corporation (MIDC). Four are based in Chakan area of Pune naming Lesso Buildtech, Foton Motors, Sany Heavy Industry Limited and Kingfa Science and Technology Limited company. There's one at Talegoan area and another based in Ranjangoan.

As per the government report, Lesso Buildtech has invested Rs 310 crores, Foton Motors has invested Rs 1,676 Crores investment, Sany Heavy Industry Limited has made investments worth Rs 69 crores and Kingfa Science and Technology Rs 1200 crores. Jushi company and Haier have invested Rs 1,560 crore and Rs 190 crores respectively.

Close to five and half thousand people are employed to these companies.

Recently, the Maharashtra State government has signed MoU with some 12 companies based in USA, China, Singapore, India and South Korea. Out of the 12 companies that underwent MoU, three of them were from China. These three companies are based in Talegoan in Pune.

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