Income Tax department raids Chinese mobile companies across the country

New Delhi: Raids have been going on in the offices of Chinese mobile companies across the country since Wednesday morning. The operation has been going on in several cities including Delhi, Noida, Gurugram, Mumbai, Hyderabad, Bangalore since 9 am. Earlier on Tuesday, it was reported that Nepal has also blacklisted several Chinese companies.

The income tax department has taken major action against mobile company Oppo Group and Xiaomi. The Income Tax Department has conducted raids against several senior officials, directors, CFO and other officials belonging to the Oppo group. According to a report, the smartphone market in India is worth around Rs 2.5 lakh crore. It has a 70 percent stake in products from Chinese companies. On the other hand, the television market in India is worth Rs 30,000 crore. Chinese companies share smart TVs at about 45 percent. Non-smart TVs account for about 10 per cent.

According to sources, the search is going on at Gurugram, Rewari in Delhi-NCR. The Delhi unit and bengaluru unit are conducting raids. The Central Government had reported in Parliament that 80 Chinese companies are currently actively doing business in the country.  There are 92 Chinese companies registered in India, out of which 80 are companies that 'actively' do business.

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