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<ul><li><keyword id="874458" type="General" weightage="100" keywordseo="xiaomi" source="Orion">Xiaomi</keyword> has said that it is disappointed after an appellate authority upheld the ₹5,551.27 crore seizure order.</li><li>The Enforcement Directorate (ED) in April passed an order to seize ₹5,551.27 crore from the company’s bank accounts.</li><li>ED had claimed that <keyword id="2210169" type="General" weightage="20" keywordseo="xiaomi-india" source="Orion">Xiaomi India</keyword> had violated the provisions of the Foreign Exchange Management Act.</li></ul>In a major setback to Chinese smartphone maker Xiaomi, an appellate authority upheld the Enforcement Directorate’s <a href="https://enforcementdirectorate.gov.in/sites/default/files/latestnews/Press_release_XIAOMI_30_04_22.pdf">order</a> to seize ₹5,551.27 crore from the company for violations of the Foreign Exchange Management Act (FEMA). The ED, in a press release, said, “The Competent Authority appointed under Section 37A of the Foreign Exchange Management Act has confirmed the seizure order of Rs. 5551.27 Crore dated 29.04.2022 passed by the Directorate of Enforcement (ED) against Xiaomi Technology India Private Limited under the provisions of FEMA.” The ED in April 2022 had ordered a seizure of ₹5,551.27 crore from the company’s bank accounts. The financial watchdog had claimed that Xiaomi had illegally remitted foreign currency equivalent to ₹5,551.27 crore to three foreign-based entities on the instructions of its parent company in China. In May, a Business Insider India <a href="https://www.businessinsider.in/business/news/exclusive-84-of-the-5551-27-crore-seized-from-xiaomi-india-were-remitted-to-qualcomm-group/articleshow/91560593.cms">report</a> revealed that 84% of the above amount was remitted to the Qualcomm Group as part of royalty payments for the chipsets used by the company. The smartphone maker had claimed that Xiaomi India had agreed with Qualcomm to license IP for manufacturing smartphones. However, the competent authority was not satisfied with this. “The Competent Authority also observed that payment of royalty is nothing but a tool to transferring the foreign exchange out of India, and the same is in blatant violation of provisions of FEMA,” the ED added in its release. <cmsannotation type="cmsannotation" annotationid="Xiaomi says it is disappointed" comment="subhead" text="Xiaomi says it is disappointed">Xiaomi says it is disappointed</cmsannotation> Xiaomi, in its <a href="https://twitter.com/XiaomiIndia/status/1576558446127697920">statement</a> said it was “disappointed” with the decision and will continue to protect its interests. “All royalty payments made by Xiaomi India were only related to sales done by Xiaomi India, not for any other countries or regions. The Qualcomm Group has also confirmed this. These royalty payments were made via RBI approved and mandated banking channels and are legitimate commercial arrangements,” Xiaomi India said in a statement. “We will continue to use all means to protect the reputation and interests of the Company and our stakeholders. We remain committed to working with various authorities to resolve the issue,” the company added. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/four-out-of-five-smartphones-sold-in-india-were-from-chinese-companies/articleshow/93701715.cms">Chinese smartphones continue to lead the market share despite crackdown by the Indian government</a> <a href="https://www.businessinsider.in/business/news/exclusive-84-of-the-5551-27-crore-seized-from-xiaomi-india-were-remitted-to-qualcomm-group/articleshow/91560593.cms">EXCLUSIVE: 84% of the ₹5,551.27 crore of the alleged illegal remittance by Xiaomi India were to the Qualcomm Group</a> <a href="https://www.businessinsider.in/tech/enterprise/news/ed-has-reportedly-raided-44-locations-of-vivo-and-related-firms-across-the-country/articleshow/92672031.cms">After Xiaomi, Vivo comes under the Enforcement Directorate’s scanner</a>

Xiaomi says it is disappointed after ₹5,551.27 crore seizure order is upheld, claims the remittances are legitimate

<ul><li>Chinese authorities have called on India to provide a fair, just and non-discriminatory environment to Chinese companies.</li><li>This comes soon after <keyword id="874458" type="General" weightage="100" keywordseo="xiaomi" source="Orion">Xiaomi</keyword> accused the ED of “physical violence” threats and coercion.</li><li>The ED had recently seized ₹5,551.27 crore from <keyword id="2210169" type="General" weightage="50" keywordseo="xiaomi-india" source="Orion">Xiaomi India</keyword> for alleged FEMA violations.</li></ul>Chinese smartphone maker Xiaomi has been under the scanner of Indian authorities for some time now. The company’s global vice president <keyword id="1677962" type="General" weightage="50" keywordseo="manu-kumar-jain" source="Orion">Manu Kumar Jain</keyword> was <a href="https://www.businessinsider.in/business/corporates/news/xiaomis-manu-kumar-jain-has-been-reportedly-summoned-by-the-enforcement-directorate/articleshow/90803402.cms">summoned</a> by the Enforcement Directorate (ED) nearly a month ago. Earlier this month, the ED had said that it had seized ₹5,551.27 crore from Xiaomi India for alleged Foreign Exchange Management Act (FEMA) violations. The smartphone maker had then approached the Karnataka High Court (HC) to obtain interim relief. In its <a href="https://timesofindia.indiatimes.com/india/xiaomi-gets-hc-relief-can-use-ed-seized-accounts-for-now/articleshow/91356173.cms">order</a>, the Karnataka HC allowed the company to use the seized amount for its day-to-day activities and scheduled the next hearing for May 12. <cmsannotation type="cmsannotation" annotationid="Xiaomi alleges threat of “physical violence” by ED" comment="subhead" text="Xiaomi alleges threat of “physical violence” by ED">Xiaomi alleges threat of “physical violence” by ED</cmsannotation> In a serious allegation against the country’s financial watchdog, Xiaomi has alleged that its top executives, including Manu Kumar Jain, faced threats of “physical violence” and coercion during questioning by the ED. According to a <a href="https://www.reuters.com/world/india/exclusive-xiaomi-accuses-indian-agency-physical-violence-threats-during-probe-2022-05-08/">court filing</a> seen by Reuters, the company has claimed that officials from the ED had warned Manu Kumar Jain, the former India head and current global VP and the company’s current chief financial officer, B.S. Rao of “dire consequences” if they did not submit the statements desired by the agency. The ED has dismissed these allegations as "untrue and baseless". The ED added that the executives from the company had deposed "voluntarily in the most conducive environment". <cmsannotation type="cmsannotation" annotationid="Beijing calls on India to treat Chinese firms fairly" comment="subhead" text="Beijing calls on India to treat Chinese firms fairly">Beijing calls on India to treat Chinese firms fairly</cmsannotation> Beijing has taken a strong view of the incident as Chinese state media outlet Global Times has said that the incident with Xiaomi could be seen as an example of <a href="https://www.businessinsider.in/india/news/chinese-state-media-says-indias-seizure-of-over-5500-crore-from-xiaomi-could-be-seen-as-a-crackdown-on-chinese-companies/articleshow/91434053.cms">Indian crackdown</a> on Chinese companies. <keyword id="3978276" type="General" weightage="50" keywordseo="zhao-lijian" source="Orion">Zhao Lijian</keyword>, a Chinese foreign ministry spokesperson <a href="https://www.reuters.com/business/media-telecom/stop-regulatory-assault-chinese-firms-global-times-tells-india-after-xiaomi-2022-05-09/">said</a> that Beijing “resolutely upheld Chinese companies' rights and interests”. He further called upon India to provide a fair, just and non-discriminatory environment to Chinese companies. "China hopes India will provide a fair, just, non-discriminatory business environment to Chinese companies with investments and operations in India, carry out investigations in compliance with the law, and enhance international investor confidence," Lijian added. <cmsannotation type="cmsannotation" annotationid="Xiaomi’s importance in India and China" comment="subhead" text="Xiaomi’s importance in India and China">Xiaomi’s importance in India and China</cmsannotation> According to a <a href="https://www.counterpointresearch.com/india-smartphone-market-shipments-revenue-2021/">report</a> by Counterpoint, Xiaomi had a market share of 24% in India in 2021, making it the biggest smartphone maker in the country. Xiaomi <a href="https://www.chinainternetwatch.com/30902/mobile-phone-shipments/">reportedly</a> has a market share of around 15% in China, making it the fifth largest smartphone maker in the country. Xiaomi is important to both China and India. While Xiaomi is a major player in the smartphone Industry in India, China depends on Xiaomi, not just for the local market, but for exports as well. SEE ALSO: <a href="https://www.businessinsider.in/india/news/chinese-state-media-says-indias-seizure-of-over-5500-crore-from-xiaomi-could-be-seen-as-a-crackdown-on-chinese-companies/articleshow/91434053.cms">Chinese state media says India's seizure of over ₹5,500 crore from Xiaomi could be seen as a crackdown on Chinese companies</a> <a href="https://www.businessinsider.in/international/news/indias-crackdown-on-chinese-firms-apps-getting-increasingly-unhinged-as-per-chinas-paper-global-times/articleshow/89666977.cms">India's crackdown on Chinese firms, apps getting 'increasingly unhinged', as per China's Global Times</a> <a href="https://www.businessinsider.in/tech/apps/news/checkout-the-name-of-the-chinese-banned-apps-in-india/articleshow/76696132.cms">List of 59 Chinese apps banned in India by Indian government</a>

China wants India to treat Chinese companies fairly as Xiaomi claims ED threatened its executives of physical violence

<ul><li><keyword id="6371973" type="General" weightage="50" keywordseo="karnataka-high-court" source="Orion">Karnataka High Court</keyword> has rejected Chinese firm <keyword id="874458" type="General" weightage="100" keywordseo="xiaomi" source="Orion">Xiaomi</keyword>'s plea against the seizure of Rs 5,551.27 crore.</li><li>A single-judge bench of Justice M. Nagaprasanna, on Friday, though dismissed the petition, upheld its maintainability.</li></ul><keyword id="6354321" type="General" weightage="50" keywordseo="bengaluru" source="Orion">Bengaluru</keyword>, Karnataka High Court has rejected Chinese firm Xiaomi's plea against the seizure of Rs 5,551.27 crore from its bank accounts by the Enforcement Directorate (ED). A single-judge bench of Justice M. Nagaprasanna, on Friday, though dismissed the petition, upheld its maintainability. The Chinese technology company is facing charges of violations of the provisions of the Foreign Exchange Management Act (FEMA). The bench observed that challenge to the Constitutional validity of Section 37A of the Act by the petitioner is held to be maintainable, on the fulcrum of the allegation that it is violative of Article 14 of the Constitution. As Article 14 is person centric whereas Fundamental Rights under Article 19 are citizen centric. Appearing for the central government and the ED, Additional Solicitor General M.B. Nargund Amaintained that Xiaomi is a foreign entity and can not maintain writ petition. Earlier, counsels for <keyword id="2210169" type="General" weightage="50" keywordseo="xiaomi-india" source="Orion">Xiaomi India</keyword> had argued that the firm was being targetted as it is a Chinese company and other companies are allowed to make payments of technology royalty. They have also brought to the notice of the court that banks are not allowing Xiaomi to make remittances in foreign exchange for imports. They argued that the company is required to make payments for foreign companies in connection with manufacturing and marketing smartphones. Contesting this Additional Solicitor General Nargund had explained that the authorities had no complaints if Xiaomi is agreeable to keep the seized amount in the bank and use remaining amount. He brought to the notice of the court that on April 24 and 29, before the ED passed the order to seize Xiaomi's bank accounts, there was a transfer of around Rs 1,500 crore from the company's bank accounts as per the available information. However, <keyword id="2402890" type="General" weightage="50" keywordseo="xiomi" source="Orion">Xiomi</keyword> is maintaining that royalty payments made to three companies abroad would not violate the FEMA Act. The company further maintained that the IT department itself had allowed it as a value added activity. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/bard-to-magi-googles-latest-weapon-in-the-battle-for-search-supremacy/articleshow/99576251.cms">From Bard to Magi: Google's latest weapon in the battle for search supremacy</a> <a href="https://www.businessinsider.in/tech/news/ai-generated-images-and-videos-a-game-changer-or-a-threat-to-authenticity/articleshow/99560443.cms">AI-generated images and videos: A game-changer or a threat to authenticity?</a>

K'taka HC rejects plea by Chinese firm Xiaomi challenging ED

<ul><li>The <keyword id="6357808" type="General" weightage="80" keywordseo="enforcement-directorate" source="Orion">Enforcement Directorate</keyword> (<keyword id="12163" type="General" weightage="20" keywordseo="ed" source="Orion">ED</keyword>) has reportedly raided 44 locations across the country.</li><li>The locations reportedly belong to Chinese smartphone maker <keyword id="215177" type="General" weightage="100" keywordseo="vivo" source="Orion">Vivo</keyword> and its related firms.</li><li>The financial watchdog is reportedly investigating violations of the Prevention of Money Laundering Act (PMLA).</li></ul>In a major crackdown on Chinese smartphone makers, India’s financial watchdog Enforcement Directorate (ED), has reportedly raided 44 locations across the country. The raids were conducted as part of its investigation into violations of the Prevention of Money Laundering Act (PMLA). The raids were reportedly conducted at places belonging to Chinese smartphone maker Vivo and its related firms. The raids are reportedly underway in Uttar Pradesh, Bihar, Madhya Pradesh, Punjab, Haryana, and several other states. It is unclear why the ED has raided Vivo or what evidence it has recovered so far from the raids. "Vivo is cooperating with the authorities to provide them with all required information. As a responsible corporate, we are committed to be fully compliant with laws," a Vivo spokesperson said in a statement to Business Insider India. Vivo is not the first Chinese smartphone maker under the ED’s scanner. Earlier this year, the ED had ordered a seizure of ₹5,551.27 crores from <keyword id="874458" type="General" weightage="80" keywordseo="xiaomi" source="Orion">Xiaomi</keyword> India, claiming that the company had illegally remitted ₹5,551.27 crores in February 2022. The company had later approached the Karnataka High Court, which had reserved its verdict. Xiaomi had <a href="https://www.businessinsider.in/business/news/exclusive-84-of-the-5551-27-crore-seized-from-xiaomi-india-were-remitted-to-qualcomm-group/articleshow/91560593.cms">claimed</a> that 84% of the amount mentioned above was remitted to Qualcomm as part of royalty payments. ED is not the only agency has is investigating Chinese smartphone makers. The Income Tax Department conducted <a href="https://www.businessinsider.in/finance/news/income-tax-department-raids-xiaomi-oppo-and-oneplus-offices-in-india/articleshow/88432807.cms">raids</a> across 15 locations of Xiaomi, Oppo, OnePlus, Dixon, and other companies in December 2021. SEE ALSO: <a href="https://www.businessinsider.in/business/news/exclusive-84-of-the-5551-27-crore-seized-from-xiaomi-india-were-remitted-to-qualcomm-group/articleshow/91560593.cms">EXCLUSIVE: 84% of the ₹5,551.27 crore of the alleged illegal remittance by Xiaomi India were to the Qualcomm Group</a> <a href="https://www.businessinsider.in/finance/news/income-tax-department-raids-xiaomi-oppo-and-oneplus-offices-in-india/articleshow/88432807.cms">Income Tax department reportedly raids Xiaomi, Oppo and OnePlus offices in India</a> <a href="https://www.businessinsider.in/india/news/chinese-state-media-says-indias-seizure-of-over-5500-crore-from-xiaomi-could-be-seen-as-a-crackdown-on-chinese-companies/articleshow/91434053.cms">Chinese state media says India's seizure of over ₹5,500 crore from Xiaomi could be seen as a crackdown on Chinese companies</a>

After Xiaomi, Vivo comes under the Enforcement Directorate’s scanner

<ul><li>The Enforcement Directorate (ED) recently ordered the seizure of ₹5,551.27 crore from <keyword id="2210169" type="General" weightage="20" keywordseo="xiaomi-india" source="Orion">Xiaomi India</keyword>.</li><li>The seizure was ordered under FEMA for illegal remittances to foreign entities.</li><li>The Karnataka High Court in an interim order has put a stay on the seizure.</li><li>An insider has now exclusively informed Business Insider India that 84% of the amount was remitted to the Qualcomm Group.</li></ul><keyword id="874458" type="General" weightage="100" keywordseo="xiaomi" source="Orion">Xiaomi</keyword> has been under the scanner of Indian agencies for quite some time now for alleged tax evasion and Foreign Exchange Management Act (FEMA) violations. As per an official <a href="https://enforcementdirectorate.gov.in/sites/default/files/latestnews/Press_release_XIAOMI_30_04_22.pdf">press release</a>, the Enforcement Directorate (ED) recently ordered a seizure of ₹5,551.27 crore from Xiaomi India. The ED claimed that Xiaomi India had illegally remitted ₹5,551.27 crore in February 2022. The amount was remitted to three foreign entities, one of which was the Xiaomi Group, Xiaomi India’s parent in China. Xiaomi had claimed that the amount paid was for royalties. The ED had ordered a seizure of ₹5,551.27 crore from the company’s bank account. The watchdog had <a href="https://enforcementdirectorate.gov.in/sites/default/files/latestnews/Press_release_XIAOMI_30_04_22.pdf">claimed</a> that the huge amount was remitted on the instruction of the company’s parent entity in China. The financial watchdog also added that the amount remitted to two other US entities was for the ultimate benefit of Xiaomi Group in China. The Karnataka High Court has <a href="https://www.livelaw.in/news-updates/karnataka-high-court-extend-stay-ed-order-xiaomi-technology-india-pvt-ltd-198906">passed</a> an interim order, putting a stay on the ED’s seizure order. The court has adjourned the matter to May 23 and allowed Xiaomi to use the account to carry on its day-to-day activities using its bank accounts. Through sources that did not wish to be named, Business Insider has come to know that more than 80% of these alleged royalty remittances were made to Qualcomm Group, a USA listed company through normal banking channels. The source close to the case informed Business Insider India that 84% of ₹5,551.27 crore remitted by Xiaomi India were to Qualcomm, the company that supplies the majority of the chipsets used by Xiaomi India in its products. It is to be noted that the amount of ₹5,551.27 has been remitted by the company since 2015. This means that approximately ₹4,663.1 crore were remitted to the Qualcomm Group. While the amount is huge, it is not far-fetched considering that Xiaomi uses Qualcomm chipsets in the majority of its devices. Royalty payments to Qualcomm or other chipset makers such as MediaTek are done by all the smartphone makers in the industry towards licensed technologies that include standard essential patents and other intellectual property (IP). Any company that does not make royalty payments can be held guilty of patent infringement. This contradicts the ED’s stand that Xiaomi has not availed any services from the entities to whom it has remitted the money. The watchdog in a press release had <a href="https://enforcementdirectorate.gov.in/sites/default/files/latestnews/Press_release_XIAOMI_30_04_22.pdf">claimed</a>, “Xiaomi India has not availed any service from the three foreign-based entities to whom such amounts have been transferred.” We approached Xiaomi India for a statement but the company refused to comment. “This matter is subjudice and under the consideration of court of law. We refuse to comment on this,” Xiaomi India told Business Insider India. SEE ALSO: <a href="https://www.businessinsider.in/business/news/karnataka-allows-xiaomi-to-take-overdraft-for-payments-restricts-royalty-payment/articleshow/91536932.cms">Karnataka High Court allows Xiaomi to take overdraft for payments, restricts royalty payment</a> <a href="https://www.businessinsider.in/business/news/china-ups-its-attacks-on-india-as-xiaomi-accuses-ed-of-physical-violence-threats/articleshow/91458920.cms">China wants India to treat Chinese companies fairly as Xiaomi claims ED threatened its executives of physical violence</a> <a href="https://www.businessinsider.in/business/corporates/news/xiaomis-manu-kumar-jain-has-been-reportedly-summoned-by-the-enforcement-directorate/articleshow/90803402.cms">Xiaomi’s Manu Kumar Jain has been reportedly summoned by the Enforcement Directorate</a>

EXCLUSIVE: 84% of the ₹5,551.27 crore of the alleged illegal remittance by Xiaomi India were to the Qualcomm Group

In a major relief to major tech giant <keyword id="2210169" type="General" weightage="50" keywordseo="xiaomi-india" source="Orion">Xiaomi India</keyword>, the <keyword id="6371973" type="General" weightage="20" keywordseo="karnataka-high-court" source="Orion">Karnataka High Court</keyword> has permitted it to take overdrafts from banks and make payments. However, the court has excluded the payment of technology royalty. Vacation Judge Justice S. Sunil Dutt Yadav on Thursday also extended the interim order till May 23 and stated that the matter is now between the banks and the petitioner company. The court had given conditional stay on the order given by the Enforcement Directorate (ED) on April 29 to seize a whopping Rs 5,513.3 crore amount. The ED has taken the step after invoking the <keyword id="88944" type="General" weightage="50" keywordseo="foreign-exchange-management-act" source="Orion">Foreign Exchange Management Act</keyword>, 1999. Senior advocate S. Ganeshan argued that <keyword id="874458" type="General" weightage="100" keywordseo="xiaomi" source="Orion">Xiaomi</keyword> India was being targeted as it is a Chinese company and other companies are allowed to make payments of technology royalty. Seeking clarification on the earlier interim order on May 5, he argued that banks are not allowing Xiaomi to make remittances in foreign exchange for imports following the court order. He explained that the company is required to make payments for foreign companies in connection with manufacturing and marketing smartphones. Contesting this Additional Solicitor General M.B. Nargund said that the authorities have no complaints if Xiaomi is agreeable to keep the seized amount in the bank and use the remaining amount. He brought to the notice of the court that on April 24 and 29, before the ED passed the order to seize Xiaomi's bank accounts, there was a transfer of around Rs 1,500 crore from the company's bank accounts as per the available information. However, Xiaomi is maintaining that royalty payments made to three companies abroad would not violate the FEMA Act. The company further maintained that the I-T department itself had allowed it as a value added activity. SEE ALSO: <a href="https://www.businessinsider.in/business/news/china-ups-its-attacks-on-india-as-xiaomi-accuses-ed-of-physical-violence-threats/articleshow/91458920.cms">China wants India to treat Chinese companies fairly as Xiaomi claims ED threatened its executives of physical violence</a> <a href="https://www.businessinsider.in/india/news/chinese-state-media-says-indias-seizure-of-over-5500-crore-from-xiaomi-could-be-seen-as-a-crackdown-on-chinese-companies/articleshow/91434053.cms">Chinese state media says India's seizure of over ₹5,500 crore from Xiaomi could be seen as a crackdown on Chinese companies</a> <a href="https://www.businessinsider.in/business/corporates/news/xiaomis-manu-kumar-jain-has-been-reportedly-summoned-by-the-enforcement-directorate/articleshow/90803402.cms">Xiaomi’s Manu Kumar Jain has been reportedly summoned by the Enforcement Directorate</a>

Karnataka High Court allows Xiaomi to take overdraft for payments, restricts royalty payment

Slamming the Indian raids on Chinese technology brand <keyword id="874458" type="General" weightage="100" keywordseo="xiaomi" source="Orion">Xiaomi</keyword>, Chinese state media outlet <keyword id="107898" type="General" weightage="50" keywordseo="global-times" source="Orion">Global Times</keyword> has said that the impression that Chinese and other foreign companies could be intentionally targeted and suppressed isn't something good or favourable for India. Chinese smartphone maker Xiaomi has come under intense regulatory pressure in the Indian market, which may raise concerns over Chinese companies' development in India. "While it is premature to claim whether India is intentionally targeting Xiaomi now, uncertainty surrounding Xiaomi's regulatory predicament should raise a red flag for India," said the report that came out late on sunday. The Enforcement Directorate (ED) has seized Rs 5,551.27 crore from Xiaomi Technology India Pvt Ltd, initiating action against the company for alleged contravention of provisions of the Foreign Exchange Management Act (FEMA), 1999. Reports also surfaced over the last weekend that Xiaomi's top executives faced threats of "physical violence" and coercion during questioning by the Indian officials. However, the ED issued a statement saying the allegations "are untrue and baseless". The Global Times report said that what has happened to Xiaomi could be seen as another example of India's crackdown on Chinese companies. "No one knows whether such an event of business hostility would lead to more Chinese companies there subject to growing regulatory scrutiny in the Indian market in the future," the publication added, admitting though that judging by the latest media reporting, it is fair to say that Xiaomi hasn't been able to communicate effectively with the Indian regulators. Meanwhile, the Karnataka High Court has stayed the ED's Enforcement Directorate's April 29 order under which it seized Rs 5,551.27 crore from Xiaomi. Justice Hemant Chandangoudar last week stayed the ED order, subject to the condition that the petitioner operates the bank accounts which are seized under the impugned order for the purpose of carrying out the day to day activities of the company. The report mentioned that India still faces the long-term challenge of developing its manufacturing sector, and attracting foreign investment is one of the priorities in moving toward this goal. "In this sense, it is of great importance for India to maintain normal and effective communication and coordination with Chinese investors," said the report. Judging from the global supply chains and the development of global trade relationships over the past years, "the biggest problem facing China and India is to consolidate and enhance their positions in the global industrial chain". "Prioritising competition over cooperation will cause unnecessary distraction and friction for both economies, hurting the growth prospects of the world's two largest emerging market powers," the report said, attacking the US and the West for "aspiring to see more competition and rivalry, rather than cooperation and partnership, between the two largest developing economies in Asia". SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/motorola-razr-3-mobile-leaked-images-reveal-an-improved-design-and-upgraded-cameras/articleshow/91431840.cms">Motorola Razr 3 leaked images reveal an improved foldable design and upgraded cameras</a> <a href="https://www.businessinsider.in/tech/mobile/news/nothing-phone-1-specification-leak-reveals-snapdragon-778g-chipset-32mp-selfie-camera/articleshow/91334495.cms">Nothing phone (1) specification leak reveals Snapdragon 778G chipset, 32MP selfie camera</a>

Chinese state media says India's seizure of over ₹5,500 crore from Xiaomi could be seen as a crackdown on Chinese companies

<ul><li>Xiaomi has announced two new additions to its leadership team.</li><li><keyword id="6833372" type="General" weightage="20" keywordseo="alvin-tse" source="Orion">Alvin Tse</keyword> has been appointed as the general manager of <keyword id="2210169" type="General" weightage="20" keywordseo="xiaomi-india" source="Orion">Xiaomi India</keyword>.</li><li><keyword id="183479" type="General" weightage="20" keywordseo="anuj-sharma" source="Orion">Anuj Sharma</keyword> will rejoin the company as the chief marketing officer.</li></ul>Xiaomi India has been under the Indian government’s scanner for quite some time now. Amid this turmoil, the company has been missing a leader as Manu Kumar Jain, the company’s former India head <a href="https://economictimes.indiatimes.com/news/company/corporate-trends/where-did-the-poster-boy-go-the-curious-case-of-xiaomis-manu-kumar-jain/articleshow/91025557.cms">stepped down</a> a while ago. Manu Kumar Jain, who was <a href="https://www.businessinsider.in/business/corporates/news/xiaomis-manu-kumar-jain-has-been-reportedly-summoned-by-the-enforcement-directorate/articleshow/90803402.cms">summoned</a> by the Enforcement Directorate (ED) earlier this year had moved on from his role as the managing director of Xiaomi India after serving for seven years and is currently serving as the global vice president for Xiaomi. <cmsannotation type="cmsannotation" annotationid="Xiaomi India finally gets a full-time leader" comment="subhead" text="Xiaomi India finally gets a full-time leader">Xiaomi India finally gets a full-time leader</cmsannotation> Since Jain stepped down, the company has been working under the trio of Muralikrishnan B, the chief operating officer, Raghu Reddy, chief business officer and Sameer BS Rao, chief financial officer. Xiaomi India has now finally announced a full-time leader. Alvin Tse, who is a founding member of Xiaomi Global and the former general manager of Xiaomi Indonesia will take up the role of general manager at Xiaomi India. Alvin Tse is a British national who graduated from Stanford University. He has been serving as the general manager of Xiaomi Indonesia since October 2019. Tse isn’t the only addition to Xiaomi’s leadership. Anuj Sharma, the former chief marketing officer of Xiaomi and the current country director for Poco India will rejoin the company as its chief marketing officer (CMO). Poco is expected to soon announce a new director to replace Sharma. Sunil Baby, who was the company’s director of offline sales operations also resigned earlier this year. <cmsannotation type="cmsannotation" annotationid="Xiaomi is under investigation by IT department and ED" comment="subhead" text="Xiaomi is under investigation by IT department and ED">Xiaomi is under investigation by IT department and ED</cmsannotation> Xiaomi has been under the scanner of Indian agencies for quite some time now for alleged tax evasion and Foreign Exchange Management Act (FEMA) violations. The ED had ordered the seizure of ₹5,551.27 crore from Xiaomi India, but the order has been put on <a href="https://www.business-standard.com/article/companies/karnataka-hc-extends-stay-on-ed-order-seizing-xiaomi-india-assets-122052301129_1.html">stay</a> by the Karnataka High Court. Xiaomi had <a href="https://www.businessinsider.in/business/news/exclusive-84-of-the-5551-27-crore-seized-from-xiaomi-india-were-remitted-to-qualcomm-group/articleshow/91560593.cms">claimed</a> that out of ₹5,551.27 crore, 84% was remitted to Qualcomm as royalty payments. According to a Reuters <a href="https://www.reuters.com/world/india/exclusive-india-tax-authority-froze-478-million-xiaomi-funds-february-sources-2022-05-12/">report</a>, the IT department froze $478 million (approx. ₹3,696 crore) over allegations of tax evasion. This was reportedly a result of the <a href="https://www.businessinsider.in/finance/news/income-tax-department-raids-xiaomi-oppo-and-oneplus-offices-in-india/articleshow/88432807.cms">raids conducted by the IT department</a> on the offices of Xiaomi, OnePlus, Oppo and a few other companies in December 2021. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/xiaomi-and-leica-partner-for-a-flagship-device-xiaomi-12-ultra-expected-to-launch-in-july/articleshow/91734026.cms">Xiaomi and Leica partner for a flagship device, Xiaomi 12 Ultra expected to launch in July</a> <a href="https://www.businessinsider.in/business/news/exclusive-84-of-the-5551-27-crore-seized-from-xiaomi-india-were-remitted-to-qualcomm-group/articleshow/91560593.cms">EXCLUSIVE: 84% of the ₹5,551.27 crore of the alleged illegal remittance by Xiaomi India were to the Qualcomm Group</a> <a href="https://www.businessinsider.in/business/news/karnataka-allows-xiaomi-to-take-overdraft-for-payments-restricts-royalty-payment/articleshow/91536932.cms">Karnataka High Court allows Xiaomi to take overdraft for payments, restricts royalty payment</a>

You Searched For "xiaomi ed seizure" and got 8 results

Xiaomi says it is disappointed after ₹5,551.27 crore seizure order is upheld, claims the remittances are legitimate

Sourabh Jain

China wants India to treat Chinese companies fairly as Xiaomi claims ED threatened its executives of physical violence

Sourabh Jain

K'taka HC rejects plea by Chinese firm Xiaomi challenging ED

IANS

After Xiaomi, Vivo comes under the Enforcement Directorate’s scanner

Sourabh Jain

EXCLUSIVE: 84% of the ₹5,551.27 crore of the alleged illegal remittance by Xiaomi India were to the Qualcomm Group

Sourabh Jain

Karnataka High Court allows Xiaomi to take overdraft for payments, restricts royalty payment

IANS

Chinese state media says India's seizure of over ₹5,500 crore from Xiaomi could be seen as a crackdown on Chinese companies

IANS

Xiaomi announces leadership changes amid investigations in India — Alvin Tse will lead the Indian team

Sourabh Jain

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