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<ul><li>The decision came after a violent clash between India and China at <keyword id="9241086" type="UNKNOWN" weightage="20" keywordseo="Galwan-Valley">Galwan Valley</keyword> in the past week.</li><li>This includes a ₹3,770-crore MoU with <keyword id="9443169" type="COMPANY" weightage="20" keywordseo="the-great-wall-motors">the Great Wall Motors</keyword> to set up an automobile manufacturing unit in Pune’ Talegaon and a ₹1,000-crore in partnership with Foton (China) and PMI Electro Mobility.</li><li>Earlier the Indian Railways decided to terminate the contract worth ₹470 crore given to China for Dedicated Freight Corridor Corporation of India Limited (DFCCIL).</li></ul>The <keyword id="6356172" type="UNKNOWN" weightage="20" keywordseo="Maharashtra-government">Maharashtra government</keyword> has put three major agreements with <keyword id="433564" type="PERSON" weightage="20" keywordseo="Chinese-companies">Chinese companies</keyword> worth ₹5,000 crore on hold, amid anti-China sentiments. The decision came after a violent clash between India and China at Galwan Valley in the past week. The agreements were the part of the 3 memorandums of understanding (MoU) signed by the Udhhav Thackeray-led government on June 17 at the online Magnetic Maharashtra 2.0 meet. “We have taken this decision in consultation with the central government. These agreements were signed prior to the development on the Indo-China border and killing of 20 Indian soldiers,” Industry Minister Subhash Desai said. Desai added that the Ministry of External Affairs had advised the state government against signing any further agreements with Chinese companies. What is Magnetic Maharashtra 2.0? ‘Magnetic Maharashtra 2.0’ is an attempt to revive the economy of the state post-COVID with interest from other countries like Russia, Japan, Germany and others in various sectors like engineering, automobiles, food processing, ESDM, IT, ITES, and others. The signed agreements worth over ₹16,000 crore with global companies, including Chinese groups. That includes a ₹3,770-crore MoU with the <keyword id="1702735" type="COMPANY" weightage="20" keywordseo="Great-Wall-Motors">Great Wall Motors</keyword> to set up an automobile manufacturing unit in Pune’ Talegaon and a ₹1,000-crore in partnership with Foton (China) and PMI Electro Mobility. Besides, Henglu Engineering made a commitment of ₹250-crore for the expansion plans at its unit Phase II in Pune. Apart from China, the state signed around nine other MoUs with companies from the US, South Korea, Singapore and various domestic entities, with huge employment generation potential. Earlier the Indian Railways decided to terminate the contract worth ₹470 crore given to China for Dedicated Freight Corridor Corporation of India Limited (DFCCIL). The contract was signed between the Railways and the Beijing National Railway Research &amp; Design Institute of Signal &amp; Communication in 2016. However, the officials said the Chinese company was reluctant to furnish technical documents as per the contract and has not been able to provide authorised engineers at the site which was a serious constraint. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/reliance-industries-shares-are-worth-more-than-hdfc-bank-icici-bank-and-kotak-mahindra-bank-combined/slidelist/76504066.cms" data-type="tilCustomLink">Reliance Industries’ shares are worth more than HDFC Bank, ICICI Bank, and Kotak Mahindra Bank combined</a> <a href="https://www.businessinsider.in/business/telecom/news/even-before-the-india-china-clash-asias-richest-man-mukesh-ambani-was-working-on-replacing-huawei/articleshow/76460868.cms" data-type="tilCustomLink">Even before the India-China clash, Asia’s richest man Mukesh Ambani was working on replacing Huawei</a>

India’s revenge against China includes freezing a car manufacturing plant, an EV project, and a railway project

Many international auto manufacturer are now looking forward to entering the Indian industry and the list includes auto giants like South Korea's Kia Motor, <keyword id="117665" type="CITY" weightage="20" keywordseo="Daihatsu">Daihatsu</keyword> from <keyword id="6374528" type="CITY" weightage="20" keywordseo="Toyota">Toyota</keyword>, PSA Group's Peugeot Citreon and three car makers from China, Beiqi Foton, <keyword id="64310" type="CITY" weightage="20" keywordseo="SAIC">SAIC</keyword> and Changan Automotive, who are devising an India strategy to be part of market set to be the third largest in the world by the end of the decade. 
 Reportedly, Kia Motor would be the first to announce its entry in India. The company is close to finalising the location in <keyword id="37102" type="COMPANY" weightage="20" keywordseo="Andhra-Pradesh">Andhra Pradesh</keyword> for its plant and is set to launch its cars in India by 2019. Daihatsu and Toyota has just kicked off the emerging markets compact car company to plan products for the emerging markets like India while PSA Group will finalise its India partnership by 2018 with an eye on 2020-2021 roll-out. 
 
Chinese automaker, Beiqi Foton which originally acquired a land in Chakan, Pune, to enter the Indian commercial vehicle space, decided to shift focus and bring in passenger vehicles under Borgward brand. The company has already started discussing with vendors a plan to localise a large Van and clutch of SUVs in India by 2019-2020. 
 <keyword id="4581" type="CITY" weightage="20" keywordseo="general-motors">General Motors</keyword>' Chinese joint venture partner, Shangai Automotive Industry Corporation or SAIC Motor Corporation Limited, is feverishly negotiating with <keyword id="44666" type="COMPANY" weightage="20" keywordseo="General-Motors-India">General Motors India</keyword> to acquire the latter's Halol facility. The negotiation is expected to conclude soon. 
 Experts feel that the Indian market will see cumulative 60 million cars hitting the roads in the next one decade and clearly they won't be from the <keyword id="44883" type="CITY" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> and <keyword id="596" type="CITY" weightage="20" keywordseo="Hyundai">Hyundai</keyword> stables alone. 
 
"With Chinese market correcting itself and a lot of matured markets seeing marginal growth, India is on everyone's radar. Not only will the market expand, there will be more choices and the competition will further intensify, thereby making consumers the winner,' Gaurav Vangaal, senior analyst for forecasting at IHS Markit Automotive, told ET. 
 
"As we have yet to formally announce any final decision to enter the Indian market, I am afraid that we cannot comment nor confirm any of the rumors as such,” a spokesperson for Kia Motor, told ET. 
 PSA Group Chairman Carlos Tavares had recently confirmed that India is part of its Push to Pass mid-term plan. The company is learnt to have had talks with Mahindra &amp; Mahindra, <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword>, General Motors India and <keyword id="132800" type="COMPANY" weightage="20" keywordseo="Hindustan-Motors">Hindustan Motors</keyword> for contract manufacturing in India. It is likely to produce cars on contract manufacturing but will sell the cars through its own independent outlets, said one of the eight people cited above. Once the partnership is finalised in 2018, PSA is likely to start selling cars by 2020-2021. 
 
Come October 2017, Indian safety standards are set to be overhauled, which will mandate a frontal and a side crash, making cars more safer and would have a fuel efficiency norm with star rating, which is in the pipelne and finally the biggest change in terms of stringent BS VI emission norms to be implemented by 2020, all this will align Indian market with global stage, which may have led to increased interest say experts.

Half a dozen international car makers are hoping to enter the Indian market. Here’s why

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India’s revenge against China includes freezing a car manufacturing plant, an EV project, and a railway project

Navdeep Yadav

Half a dozen international car makers are hoping to enter the Indian market. Here’s why

BI India Bureau

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