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Thaw in India-China ties: Quicker PN3 nod for China JVs in works
The Economic Times | English | News | Nov. 12, 2025 | Shifting Geopolitical Alliances
Dixon Technologies managing director Atul Lall anticipates timely approval of Press Note 3 (PN3) for its two Indo-Chinese joint ventures: one with Vivo for smartphone manufacturing and another with HKC Corp. for displays. The Vivo application was submitted six months ago, and the HKC application in August, with both progressing faster than the previous 12-24 month government clearance period due to improved India-China relations. PN3 is a mandatory multi-ministry clearance required for investments involving bordering countries such as China.
Other companies like Micromax-owned Bhagwati Products and auto component maker Uno Minda have also filed PN3 applications for JVs, with Bhagwati focusing on component projects under the productivity linked incentive (PLI) scheme and Uno Minda converting a technical licensing partnership with China’s Inovance Automotive into a JV. Construction on Uno Minda’s Pune facility has begun, with a planned investment of ₹423 crore, reflecting the growing optimism around JV approvals amid easing bilateral tensions.
Industry executives note that component makers previously used technical licensing agreements with Chinese firms due to approval delays, but JVs are now preferred for better risk diversification. Government officials have indicated faster PN3 clearances, especially for companies participating in the component PLI or Electronics Component Manufacturing Scheme (ECMS), which has seen 249 applications totaling ₹1,15,351 crore in investments. The government recently approved seven ECMS projects with ₹5,500 crore investment, aiming to boost electronics manufacturing and localization in India.