China’s Foreign Ministry has urged India to ensure a “fair, just, transparent, and non-discriminatory business environment” for foreign enterprises following reports that India’s Serious Fraud Investigation Office (SFIO) has recommended a probe into Chinese smartphone maker Xiaomi.
The proposed SFIO inquiry focuses on Xiaomi’s compliance with India’s foreign direct investment (FDI) rules, beneficial ownership disclosures, and fund transfers. Responding to the developments, Chinese Foreign Ministry spokesperson Guo Jiakun emphasized that economic ties between Beijing and New Delhi are “mutually beneficial and win-win.”
The escalation comes at a sensitive diplomatic juncture, with India hosting the 18th BRICS Summit in New Delhi as both nations navigate economic relations and border de-escalation efforts.
Key points covered in this update:
• India’s SFIO proposal recommending a detailed probe into Xiaomi
• Scrutiny over FDI compliance, business models, and beneficial ownership
• Statement by Chinese Foreign Ministry spokesperson Guo Jiakun
• The broader geopolitical backdrop of the BRICS Summit in New Delhi
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