Xiaomi says, not moving from India to Pakistan

Chinese mobile manufacturer Xiaomi has rejected speculations over moving its operations from India to Pakistan after the Enforcement Directorate froze its assets worth R 5,551.27 crore for allegedly violating Foreign Exchange Management Act guidelines. Earlier, a report on Twitter claimed the company is moving out of India. Preposterously, the tweet by South Asia Index — which aims to tweet news and has a large following — claims that Xiaomi is looking to move its operations out of India and into Pakistan. Xiaomi India called the claims baseless and completely false.

This tweet is completely false & baseless. Xiaomi entered India in 2014 & in less than a year, we embarked on our Make in India journey.
99% of our smartphones & 100% of our TVs are made in India. We'll take all measures to protect our reputation from false & inaccurate claims.

— Xiaomi India (@XiaomiIndia) October 7, 2022

Meanwhile, the Chinese mobile manufacturer on Friday moved to the Karnataka high court again  challenging the September 29 order of the FEMA competent authority which had confirmed the April 29 seizure order of the ED to freeze its assets. The central probe agency had ordered the seizure of assets for allegedly violating FEMA rules and transferring money in the guise of royalty to three companies outside India. The high court earlier this year had allowed the mobile maker to use the money for its day-to-day activities but had prohibited it to use to make payment of the royalties.