The story so far: China on Wednesday, July 6 issued a strong statement against the Enforcement Directorate’s ongoing investigation into Chinese mobile company Vivo in India. The Chinese Embassy’s spokesperson in New Delhi had said that frequent investigations by Indian authorities into Chinese firms not only disrupted their business but also chilled the “confidence and willingness of market entities from other countries, including Chinese enterprises, to invest and operate in India”.
The ED, after raiding 48 places across the country in a money-laundering investigation against Vivo and related firms this week, said on July 7 that the company remitted 50 per cent of its turnover (₹62,476 crores) from Indian operations mainly to China to avoid payment of taxes in India.
