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Great Wall Motors' India plans may have hit a roadblock

Great Wall Motors' India foray into the Indian market appears to have hit a roadblock due to the curbs put on Chinese FDI, following the ongoing tensions on the Line of Actual Control (LAC) between India and China.

General Motors and Great Wall Motors had signed a memorandum of understanding (MoU) in January 2020 for the sale of the former's manufacturing plant in Talegaon, near Pune. However, that deal is still awaiting government clearance.

According to a media report, the application for the investment proposal had been submitted to the Department of Trade Promotion of Industry and Internal Trade (DTPII) on July 9 and was forwarded to the Ministry of External Affairs, Home Ministry and the Reserve Bank of India for clearances on July 13, 2020.

As a part of the deal, Great Wall Motors is to acquire the fully operational car manufacturing plant to build Haval SUVs in India. The company plans to invest Rs. 700 crore in the facility.

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