Millet Was Investigated By The Indian Authorities Again. On May 1, According To Reuters, India Said That Xiaomi And Its Companies Were Suspected Of Illegal Remittance To Foreign Entities In Violation Of India's Local Foreign Exchange Management Law, And Had Seized About 4.8 Billion Yuan ($725 Million)Of Assets Belonging To Xiaomi Technology India PVT. (hereinafter Referred To As "Xiaomi India").
On May 1, Xiaomi India Responded To Surging Journalists That As A Brand Committed To India, All Operation Activities Strictly Abide By Local Laws And Regulations. "We Have Carefully Studied The Authority's Order. We Believe That The Royalties And Bills We Pay To The Bank Are Legal And True. These Royalties Paid By Xiaomi India Are Used For The Licensed Technology And Intellectual Property Rights Used In Our Indian Version Of Products. For Xiaomi India, Paying Such Royalties Is A Legitimate Business Behavior. Of Course, We Will Work Closely With The Government To Clarify Any Misunderstandings."
According To The Law Enforcement Bureau Of India's Financial Crime Fighting Agency, It Has Been Found That Xiaomi India Remitted Foreign Currency Worth 55.5 Billion Rupees (about 4.806 Billion Yuan)To Three Overseas Entities, Including Xiaomi Group, In The Name Of Paying Royalties.
Millet Has Been Repeatedly Investigated By The Indian Authorities. On January 5, The Indian Ministry Of Finance Said In A Statement That After The Investigation Found That There Was Tax Evasion, It Had Sent A Notice To Xiaomi India To Recover 6.53 Billion Rupees (about US $88 Million)From The Company. On January 27, Gao Feng, A Spokesman For The Ministry Of Commerce, Responded That China Was Concerned About This And Was Worried About The Investment Environment In India.
And According To New DelhiTVNDTV Reported That On December 21 Last Year, Law Enforcement Officers Of The Tax Bureau Of The Indian Ministry Of Finance Investigated Taxes In More Than 20 Places In India, Xiaomi And oppoAnd Other Chinese Fundedmobile PhonesCompanies Were Searched, These Are More Well-known Mobile Phone Brands In India.
According To The Report On Smartphone Shipments In The Indian Market In The First Quarter Of 2022 Released By Canalys, Xiaomi Ranked First With 8 Million Smartphones, Accounting For 21% Of The Market.
