A day after the announcement of the seizure 55,51 billion rupees which confirmed the corresponding SDOE of India, reports began to appear online that Xiaomi is moving its operations from India to Pakistan
It all started when the Indian appellate authority confirmed on 31 August 2022, an order issued by federal financial crime agency of India (India's equivalent SDOE), for the compulsory seizure 55,51 billion rupees (~$682 million), claiming that an investigation it conducted found that Xiaomi had made illegal remittances to foreign entities passing them off as royalty payments.
Η Xiaomi in a statement she made that she made a few days later, she said that over the 84% of INR 55,51 billion seized earlier this year by India's tax authorities, was a royalty payment to US chipset company Qualcomm Group.
«We will continue to use all means to protect the reputation and interests of the company and our shareholders,” Xiaomi said in its announcement. As emphasized by Xiaomi CorpThe Xiaomi India is a subsidiary and one of the companies of the Xiaomi Group, which entered into a legal agreement with Qualcomm for IP licensing for smartphone manufacturing.
Just IN: Chinese mobile-maker Xiaomi may move its operations from India to Pakistan after Indian govt freezes its assets worth $676M. – sources
— South Asia Index (@SouthAsiaIndex) October 6, 2022
A day after the court decision was announced, they started appearing online reports that Xiaomi has decided to move its operations from India to Pakistan.
This is not the case though, and neither is Xiaomi India he refused all these rumors suggesting that the company will move its operations from India to Pakistan after its assets were seized by the Indian government. The company stresses that these rumors are “completely false and baseless».
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
As Xiaomi India stated:
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