China Wary As Enemy Property Act Amendment By Modi Government Opens Up Land Worth Rs 1 Lakh Crore For Auction

Chinese state run English media outlet Global Times has expressed concern over the amended Enemy Properties Act which is set to open up properties worth over Rs 1 lakh crore for auction by the government.

Enemy property refers to the property left behind by people who have taken citizenship of China and Pakistan. The amendment removed several ambiguities and ensures that the descendants of those who emigrated to Pakistan and China during Partition and afterwards will have no claim over property left behind in India.

The government plans to auction 9,400 such properties now that the ambiguities have been done away with. However, the Chinese media views the act as a threat to Chinese interests in India, should the two countries go to war.

The report states that “If China and India become involved in a military conflict, the assets of Chinese companies doing business in India may be confiscated by the Indian government.”

As the Make In India campaign pushed by the Prime Minister Narendra Modi gains traction with Chinese companies seeking to capitalise on the huge Indian market, the Chinese mouthpiece has warned that the act might make Chinese investors wary.

Chinese investments into India have been steadily growing over the years, notably Xiaomi and Lenovo, who have setup manufacturing hubs in India seeking the attractive tax incentives provided by the government for manufacturing goods in India.

The report however states that “...if the Enemy Property Act sparks alarm among Chinese investors and hinders India's efforts to make itself a sound investment destination, all these other attempts would have been in vain.”

The English media outlet however has limited reach in China where Chinese is the dominant medium of mass media and has often been accused of belligerence and jingoism.