China in Shock, Maharashtra Government Banned Projects Worth Rs 5000 crore
There is fury in the entire country after 20 Indian soldiers lost their lives in a military skirmish between India and China. Meanwhile, the Uddhav Thackeray government of Maharashtra has currently put a stay on the agreement with Chinese companies for three projects worth more than Rs 5,000 crore. Maharashtra Industries Minister Subhash Desai said, "This decision has been taken after consultations with the Center. We have stopped three projects and we are waiting for further guidelines of the Center."
These projects were finalized at the 'Magnetic Maharashtra 2.0' investor conference. The MoU was signed shortly before the conflict between the Indian and Chinese forces in the Galvan Valley. It is proposed to invest Rs 5,000 crore under these projects.
This meeting was organized through video conference last Monday. Chinese Ambassador Sun Weidong was also present in this. It was organized to revive the economy in Maharashtra and during this time, a dozen agreements were signed with companies from countries such as China, South Korea, Singapore and America. Three of these 12 MoUs were with Chinese companies and this includes a Rs 250 crore project with Hengely Engineering, a Rs 3,770 crore project with Great Wall Motors and a Rs 1,000 crore project with PMI Electro Mobility.
In an all-party meeting convened by Prime Minister Narendra Modi, Maharashtra Chief Minister Uddhav Thackeray had said, "India wants peace but it does not mean that India is weak. China's nature is to betray. India is not helpless but strong."
After the military skirmish between India and China in Ladakh, several states are reviewing contracts made with Chinese companies. Earlier, the traders' Confederation of All India Traders (CAT) had demanded the Maharashtra government to cancel the memorandum of understanding (MoU) with three Chinese companies. CAT had also written a letter to Chief Minister Uddhav Thackeray about this and in the letter to the Chief Minister, Kat has said that the recent agreement by the Maharashtra government with three Chinese companies should be scrapped immediately in view of the anger of the people against China.
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