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Xiaomi rejects speculation over India operations being moved to Pakistan

Rumours started with a portal's tweet that the Chinese cellphone manufacturer may shift its operations from India to Pakistan after its assets worth $676 million were seized

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BS Web Team New Delhi

2 min read Last Updated : Oct 07 2022 | 11:03 PM IST

Xiaomi, a leading Chinese mobile manufacturer, has rejected rumours that it will relocate its operations from India to Pakistan, reported Hindustan Times. These speculations surfaced after Enforcement Directorate (ED) froze its assets worth Rs 5,551.27 crore for allegedly breaking the Foreign Exchange Management Act (FEMA) guidelines.

It all started when South

Topics : Xiaomi Enforcement Directorate Companies BS Web Reports Fema xiaomi phones Pakistan India Indian market Karnataka Foreign Exchange Management Act

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