Raising a big question on Chinese investments in several Indian start-ups, the Confederation of All India Traders (CAT) on Sunday sent a letter to Union Commerce Minister Piyush Goyal referring to chinese companies' investments in Indian companies operating in various sectors. Kat believes that Chinese investment is a strategic step in a systematic way to capture Indian innovation and technology. The organisation has asked Piyush Goyal to conduct an inquiry into all such Indian companies.
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| Cat Sends List of 141 Start-ups to Government, Says Chinese Investment to be Investigated |
Cat has sent a list of 141 major Indian start-ups in this regard to Piyush Goyal, which has Chinese investments. These Indian companies are related to hospitality, daily consumables, food distribution, information technology, logistics, payment apps, e-commerce, travel, transportation, pharmaceuticals, insurance, stock market, health care, eye care, sports app, etc. According to this list, Chinese companies in diverse sectors have caught up with all important sectors of the economy for investment.
Chinese investment to be investigated
Kat's national president B C Bhartia and national general Secretary Pravin Khandelwal demanded an inquiry into these companies and said that the investigation is based on a number of relevant questions, mainly the ratio of control by Chinese investment in Indian companies? Is the data earned by these companies in India or abroad? What are data protection and precautions? Whether any Indian start-up is using Chinese technology and if so, there is no inherent spying technique in any way, as the question is very important.
He alleged that China spied on many countries in the world in different ways. It adopts a variety of tactics, including cyber espionage, to gain access to remote, sensitive intelligence. China is also engaged in financial and industrial espionage aimed at gathering information to strengthen its economy. It also monitors discontent abroad. Several cases of computer intrusion suspected of Chinese incursion have been found in various countries, including Australia, New Zealand, Canada, France.
Data suspect of burglary
Bhartia and Khandelwal said that China is a pioneer in adopting new methods to steal innovation through a variety of ways, including not only Chinese intelligence services but also state-owned enterprises, private companies in general, some types of undergraduate students.
Kat says the manner in which Chinese companies invest in India is essential to understand the real truth behind such investments. There is a planned strategy towards the important data of Indian people by various Chinese companies and overtaking Indian economic hubs. Therefore, there is a need to examine the functioning and business modules of Indian start-ups working in different fields.
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