Baidu, Xiaomi bullish on India

Two leading Chinese companies are bullish on India amid the cooling-off of diplomatic relations between the two countries and downward pressure on the home economy.

Senior executives of Beijing-based tech giant Baidu Inc and smartphone maker Xiaomi Corp told China Daily that the companies are positive in their outlook going by experiences in India. While Xiaomi has been in India since 2014, the Nasdaq-listed Baidu opened an office in the country last year.

Dozens of Chinese companies, both private and government, have invested in India across different sectors in the past decade or so. But in the last two years of a new government in New Delhi, the cumulative Chinese foreign direct investment in India has doubled to $2 billion, an Indian newspaper reported earlier.