Macro-economic pressure is increasingly severe, India relaxes "procurement ban in key industries"

Sina Finance reported on March 31st that under the dual pressure of escalating Middle East conflicts and a cooling domestic economic atmosphere, the Indian government quietly adjusted its economic policy towards China. According to government sources cited by Reuters and a document, India announced at the beginning of this month that it would relax restrictions on Chinese investment in specific areas. On the 27th, India further authorized some state-owned enterprises, including heavy electrical companies and the Steel Authority of India, to procure key equipment from China. Reuters believes that this policy shift marks the beginning of India loosening its trade and economic restrictions on China since 2020, driven by India's increasingly severe macroeconomic pressures and deep dependence on Chinese supply chains.