SAIL.NSE

Steel Authority of India Ltd.

NEW DELHI: India authorised some state firms including Bharat Heavy Electricals BHEL.NS and Steel Authority of India on Friday to procure critical equipment from China, according to a government source and document, after easing restrictions. Reuters reported last month that India would relax restrictions on buying Chinese equipment imposed after a deadly 2020 border clash, allowing state-run power and coal companies to start limited imports as shortages and project delays mounted. India has since then also eased investment curbs on China. Under the relaxation of the rules, India’s largest state-run power equipment maker Bharat Heavy Electricals can procure 21 types of critical equipment from China, the government order said. A similar authorisation has been given to Steel Authority of India for certain critical components, and for sourcing of coal-gasification equipment by other state-run firms, a government source said. Asia gold: Gold demand improves in India as prices ease; China sees softer buying The deadly clashes in 2020 between Indian and Chinese troops along the Himalayan frontier prompted New Delhi to tighten rules on Chinese procurement and investments, but a global realignment of trade sparked by ​U.S. tariffs ⁠has prompted India to consider a calibrated reset with China to keep supply chains steady and attract investments.