Chinese media dismisses India's move to block Chinese power companies

Beijing [China], May 25 (ANI): Chinese state run media has criticised India's move to block Chinese power firms, citing "India's boycott of Chinese equipment would eventually make its people the biggest losers." The Global Times credited India's decision to 'overly suspicious attitude toward China,' and maintained that the decision would 'backfire' on India as it remains plagued by electricity shortage. The report also declared that the "security concerns actually seem like unnecessary paranoia, especially in a country where about 300 million people still have no access to electricity and many regions face the problem of inconsistent power supply." The Indian media has cited reciprocity as a factor for the barring policy as China does not allow oversea investment in power sector. The report stated, "The reciprocity argument is unreasonably idealistic and doesn't make any sense at all." "Even if China allowed overseas investment in its power sector, could Indian power companies really make it into the Chinese market given their lack of development?" questioned the report. The Global Times concluded its report by saying, "India's boycott of Chinese equipment would be at the cost of its electricity infrastructure development, eventually making its people the biggest losers." The response comes days after the Indian media declared that the country would soon be introducing a policy that bars Chinese power companies from investing in the domestic power sector. At present, Chinese generated power accounts for 40 percent of the total power consumption in India. (ANI)