Chinese Mobile Phone Makers Asked to Appoint Indians As CEOs, Comply With Indian Law by Government: Reports

New Delhi, June 13: As per recent reports, the Indian government is taking a tougher stance on Chinese smartphone brands. They are being asked to comply with the law and not evade taxes in India.

Additionally, the Union government is seeking Indian equity partners for sales and marketing. Apparently, the Chinese companies have been asked to 'Appoint Indians As CEOs, Comply With Law.' Xiaomi Pad 6 with 2.8K 144Hz Display Launched in India: Check Price, Specs, and Other Details.

Apparently, the Ministry of Electronics and Information Technology (MeitY) and top government officials met with Chinese companies (including Xiaomi, Oppo, Realme, and Vivo) and the Manufacturers’ lobby group ICEA to discuss impending issues.

The new reports suggest that the government has directed Chinese smartphone manufacturers to include Indian executives in key leadership roles like chief executive officers, chief operating officers, chief financial officers, and chief technical officers.

Additionally, the Indian government expects them to appoint Indian contract manufacturers, hire local distributors, and expand local manufacturing down to the component level through joint ventures with Indian businesses.  India Inc Slowdown Continues As Big Deals Disappear, Deal Values Drop by 87%.

It is to be noted that several Chinese smartphone manufacturers are still wholly owned operations of Chinese smartphone companies in India. Also, many are under investigation for tax evasion and alleged illegal remittances. Offline retailers have also been lobbying with the government to stop predatory online discounts.

(The above story first appeared on LatestLY on Jun 13, 2023 03:06 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).