India has rejected Chinese automaker BYD Co's proposal to set up a $1 billion factory in India in partnership with Hyderabad-based Megha Engineering and Infrastructure Ltd, the Economic Times reported on Saturday.
Members of the press and the general public check out the Atto 3 electric SUV made by Chinese carmaker BYD, at the Fully Charged Live electric vehicle trade show in Farnborough, Britain, April 28, 2023. REUTERS/Nick Carey/File Photoproposal to set up a $1 billion factory in India in partnership with Hyderabad-based Megha Engineering and Infrastructure Ltd, the Economic Times reported on Saturday.
"Security concerns with respect to Chinese investments in India were flagged during the deliberations," the report quoted an Indian official as saying.
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