Did Maharashtra freeze investments worth Rs 5,000 Cr with China? Here’s the truth

Multiple posts have been circulating online with the news that the state of Maharashtra froze investments worth Rs 5,000 crore with China, amidst the India China faceoff at Galwan Valley on the Line of Actual Control.

Check the archived post here.

 

FACT CHECK 

We fact-checked the above information and found it to be misleading.

Upon searching the keywords “Maharashtra freezes Chinese investments” on Google, we came across an Economic Times article dated June 22, 2020, that states: No investments from Chinese companies put on hold: Maharashtra government clarifies.

According the to article, Maharashtra government has clarified that it has not put on hold any Chinese investments in the state. Minister for industry Subhash Desai was misquoted in media reports saying that the government will be putting on hold three recently signed agreements with Chinese companies amounting to investments worth Rs 5,000 crore.

Desai clarified that the projects were not on hold and that the state government was waiting for further instructions.

Further, another article in Business Standard clarified the same.

“There is a status quo with regards to the MoUs signed with Chinese companies. There is no decision to scrap the agreements,” Maharashtra Industries Minister Subhash Desai was quoted as saying.

Hence, it is clear that Maharashtra has not suspended any investments from China at this point in time and the claims are misleading.

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