26-09-2020

Unfazed by the anti-China sentiment, MG Motor has said that it will approach the department for promotion of industry and internal trade (DPIIT) to make fresh investments into India as the Chinese carmaker plans to get in an additional Rs 1,000 crore to launch new models and expand operations.

However, in line with the recent changes in FDI rules, the company � due to its lineage (it�s a sub-brand of Chinese auto major SAIC) � will need to take an approval/clearance from DPIIT to make fresh investments.

�The government has full right and responsibility to decide whatever is good for the country. Any government has to do what is good for the country. The Indian government is doing all the right things,� MG Motor India president and MD Rajeev Chaba told that when asked whether the additional permissions were a business irritant.