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Dixon Technologies' China playbook faces crucial Centre's FDI test
Surajeet Das Gupta New Delhi
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Dixon Technologies (India) on Tuesday signed two agreements — a joint venture (JV) and an acquisition, both with Chinese companies — in what could be a test case for the government on how to handle such proposals under foreign direct investment (FDI) rules for Chinese firms following the implementation of Press Note 5.
With these two deals, Dixon now has five such tieups with Chinese companies — in each of which it holds a 51 per cent or higher stake — and they can proceed only if the government grants FDI approval.
The company has signed a binding term sheet
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