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NEW DELHI: India said on Wednesday it had approved foreign investment worth $1.79 billion from neighbouring states, in its first statement since tightening controls after tensions with China in 2020.

India said in April 2020 that foreign direct investment from countries with which it shares a land border would need prior government approval to deter what it called “opportunistic” takeovers, a move seen as mainly directed at China.

Russia seeks Indian investment in its oil and gas sector

India, which shares land borders with China, Pakistan, Bangladesh, Nepal, Bhutan, Myanmar, and Afghanistan, did not name any companies or countries in its statement.

The government said it had received 347 proposals from neighbouring states worth almost $10 billion since April 2020.

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