A | 见习记者 边义婷8月18日，一辆悬挂“冀G”蓝色车牌的哈弗SUV，行驶在加拿大通往美国阿拉斯加州的公路上。 Ambuj Sonal, Associate Partner at Link Legal, a firm tracking mergers and acquisitions (M&A) and joint ventures, among others, spoke with Sputnik about cross-border investments in the era of growing uncertainty and the impact this will have on M&A activity in 2022 and beyond.,Sputnik: In the past two years, many restrictions have been imposed on foreign investments globally, mainly for reasons of national security. What effect have such regulatory changes had on cross-border mergers and acquisitions?,Ambuj: The primary reasons for implementing such additional scrutiny were to control the misuse of the uncertain situation and opportunistic investment behavior. Indeed, these restrictions affected cross-border deals globally in early 2020. For example, the European Commission Report on foreign investment flows [released in November 2021] suggested that foreign direct investment (FDI) flow to European countries declined by approximately 71 percent during the time of COVID.,Although these economies had amended regulations to protect their domestic companies from 'corporate raiders', this deterred foreign investors and caused a substantial decline in inbound M&A deals.,Having said that, the global cross-border M&A activity showed huge improvements in the second half of 2020, when most of the countries had started vaccination and adopted other measures to control the pandemic.,Reports show that from the second half of 2020, the volume of global deals increased by approximately 29 percent, and deal values soared by roughly 156 percent, indicating that cross-border M&A deals enjoyed a quicker recovery from COVID.,Sputnik: India has also amended foreign investment rules, explicitly targeting countries with which it shares land borders. How has it affected M&A activity and overall foreign investment flow, primarily from China?,Ambuj: The Indian government, in Press Note 3 (PN3) in April 2020, decreed that all investments from entities (direct or indirect) with which India shares a land border, would have to be made under the 'approval route' and would need security clearance.,PN3 also covered investments where beneficial ownership belonged to China, Taiwan, Hong Kong and Macau. Initially, investors from these nations approached the Indian Government for approval. However, the government was silent about these approvals until the first year of PN3.,According to data disclosed under a recent application filed under the Right to Information Act, the Department of Promotion of Industry and Internal Trade (DPIIT) has revealed that it received 382 FDI proposals from Chinese entities after PN3, of which 80 proposals have been approved.,The DPIIT made the commitment that appropriate due diligence and FDI approvals from Chinese entities would be scrutinized on a case-by-case basis. Before PN3, Chinese firms were actively investing in technology and e-commerce businesses in India, particularly in start-ups.,Up to 2019, India received foreign investments of approximately $3.4Bln from China and Hong Kong. However, post PN3, the total investment from China and Hong Kong has declined to $952Mln or 72 percent.,Having said that, despite COVID-19 and a huge drop in Chinese investments, India has received the highest annual FDI ($83.57Bln) in the 2021-22 financial year, and has emerged as a preferred investment destination.,The steps taken by the Indian government during the past few years have affected the increasing volumes of inbound FDI, which has led to record levels.,Sputnik: The geopolitical scenario has undergone tectonic changes because of tensions between China and the US, and the Russia-Ukraine conflict. Decoupling is a new buzzword that many say is part of de-globalization. How is this affecting mergers and acquisitions globally, especially in India?,Ambuj: 'Decoupling' refers to a situation where another country replaces a particular country in a global and extended supply chain. 'De-globalization' would constitute a step beyond 'decoupling' where activities that are performed offshore are brought back home completely.,Tensions between the US and China have caused a major drop in cross-border M&A deals for these two countries (an almost 95 percent drop from 2016 to 2020) primarily because of geopolitical, trade, and tariff uncertainties.,On the other hand, global M&A deals were badly hit because of the Russia-Ukraine conflict. According to data provided by Reuters, the Russia-Ukraine conflict caused the value of global M&A activities to plunge 29 percent in the first quarter of 2022.,The geopolitical scenario will most probably result in a complex and disrupted global supply chain. The present conflicts such as between US and China, and Russia and Ukraine have given rise to debate about whether we are heading towards 'decoupling', which might slowly lead to 'de-globalization'.,Decoupling and de-globalization will affect the global economy adversely and could result in long-standing inflation.,So far as India is concerned, the geopolitical situation has caused unexpected price rises, disrupted supply chains, and introduced other uncertainties because of blocked inventory. This has affected major sectors such as textiles, plastics, steel, pharma, Compressed Natural Gas (CNG), etc.,Although such geopolitical situations have majorly affected M&A activity in Asia, investments in India might see a rise. Mostly, the manufacturing sector could benefit, considering how easy it is to do business and the cost-effective labor in the Indian market.,Other European countries are already considering shifting their manufacturing facilities from China to India. This is a result of the Indian government's efforts to boost foreign investments, which has made India a preferred investment destination.,Sputnik: Despite unprecedented sanctions by the West, most Asian countries, including India, have carved out a space for themselves in this crisis and are maximizing their geopolitical leverage without limiting economic opportunities. Given this backdrop, do you think Asian countries will outpace their global peers in the M&A sector?,Ambuj: India has strong business relationships with Russia, especially in the defense, oil and gas, and automotive sectors.,Because of the sanctions imposed by the West, Russia has been isolated from global financial systems and trading. Therefore, strong support and implementation of such sanctions may not be viewed as a beneficial step.,So far as opportunities are concerned, India can be seen as an alternative supplier of manufactured exports to the West. However, the preference would be given to countries belonging to the Association of Southeast Asian Nations (ASEAN), ie Taiwan, Korea and Japan. This may result in major investments in Asian countries, which may exceed the western market's M&A activities in deal volume and size.,From a cross-border M&A point of view, India remains a preferred destination with an FDI of approximately $83.57Bln and 2,064 M&A deals in the 2021-22 financial year, which puts it in top spot globally. Mauritius and Singapore remain the top investors for India, and we can see India being comfortably placed as an attractive business nation.,Sputnik: Recently, a large number of western firms have announced their intention to leave the Russian market. Has this created space for Indian firms to buy assets or to invest in Russia?,Ambuj: Yes. Judging from the silence of the Indian government on the subject of sanctions, Indian firms are keen to capitalize on the geopolitical conflict as an opportunity to invest and gain a share of the Russian market. Opportunities are available mainly in industries serving the pharmaceutical, oil and gas, and manufacturing sectors.,Furthermore, since big global companies such as Apple, fast retail and Ikea have shut or kept their operations in Russia on hold, mid-size Indian companies in the retail and fast-moving Consumer Goods (FMCG) sectors are also interested in doing business in India.,Additionally, since supply chains between Russia and -European countries are blocked, Indian suppliers are looking to initiate strong trade relations by offering undisrupted supply to Russia.,Sputnik: Reports claim that Russian businesses and other big players have been looking for ways to invest their money in Asia. What kind of investment opportunities does the Indian market offer them?,Ambuj: Unlike the UK, India does not offer any scheme like a 'Golden Visa' for Russian businessmen who can trade for their residential status in lieu of multi-million investments in the country. However, investment opportunities in India remain plentiful and attractive. As India's Prime Minister said at the World Economic Forum in Davos this year: "This is the best time to invest in India.!,Over the years, the Indo-Russian bilateral relationship has developed into a comprehensive partnership that includes cooperation in several high-technology sectors.,India and Russia have projected that bilateral trade will be worth $30Bln by 2025. This will boost the India-Russia business relationship, and many opportunities await Russian investors in India.,The key areas for Russian investments to focus on in India are telecommunications, automobiles, industrial services, oil and gas, and medical/surgical appliances.,Want to know more? Check out our Koo & Telegram accounts!,Koo: https://www.kooapp.com/profile/sputniknews,Sputnik India: https://t.me/sputniknewsindia。车主大远（网名），今年37岁，是张家口人，从事法律工作，副业是一名自驾游领队。他这次旅程的目标，是开着这辆中国制造、挂着车牌的汽车，从北极圈附近的阿拉斯加出发，沿世界最长的公路——泛美公路一路向南，穿越整个美洲，到达南美洲阿根廷乌斯怀亚，再穿过德雷克海峡，乘坐轮渡抵达南极洲，全程自驾约5万公里，预计耗时7个月。大远告诉纵览新闻，这并非他第一次跨国自驾。在此之前，他已开着挂辽宁车牌的汽车从中国自驾中东，开着挂天津车牌的汽车穿越欧亚大陆。而这一次，他选择了家乡的车牌“冀G”。大远开着“冀G”车牌国产车穿越美洲。受访者供图一颗“看世界”的种子大远的环球自驾梦开始于2013年，那年他24岁，在非洲一家工厂从事市场开发工作。
B | 他开车从尼日利亚到达贝宁，完成了人生第一次跨国自驾旅行，并在心中种下了一颗“看世界”的种子。“当时我就想，我还要自驾去更远的地方。”大远说。此后10年，这颗种子一直被大远埋在心里。他在非洲生活了近3年后回国，自驾旅行的念头从未消失。2024年，大远终于迈出了关键一步。2024年2月28日，他开着一辆辽宁牌照的国产车从国内出发，穿越欧亚大陆，途经俄罗斯、哈萨克斯坦，抵达中东的伊拉克、叙利亚、黎巴嫩、伊朗等国，旅程往返2万多公里，历时半年。自驾穿越中东的旅程中，大远感受到了来自沿途国家人民的友善。
C | 经过俄罗斯时正是冬季，雪很厚，他的车轮深陷雪中出不来，是当地的一家三口拼尽全力帮他推车、挖雪。“他们的手都冻僵了，我也不会俄语，但就是这种无言的帮助，让我很感动。”大远告诉纵览新闻，他在哈萨克斯坦时也有过一次同样的经历。大远开国产车经过黎巴嫩。受访者供图大远抵达中东后，叙利亚和伊拉克当地的媒体还报道了他从中国自驾中东的故事。“因为战乱的影响，当地没什么游客，许多人没有来过中国，甚至不知道距离中国到底有多远，但他们对我很热情，说中国人很善良。”大远说。
D | 在大远离开巴格达前往约旦口岸的路上，他被多辆伊拉克军车接力护送了200公里，还被邀请在军营吃饭。大远在2024年5月2日发布的一条视频记录了这段旅程，视频中穿着军装护送他的军人用不太熟练的英文对大远说：“China，Iraq，friend。”这趟中东之旅，让大远体会到了开着中国车出国的意义。“开中国车自驾，辨识度很高，海外华人看到车牌上的汉字很亲切，让我体会到了深深的民族自豪感。
E | ”大远说。因为这次自驾经验，大远开始了开着国产车自驾出国的旅程，环游了50多个国家，还成为欧亚大陆自驾领队、中东自驾领队。一张行走的“中国名片”2026年，大远决定挑战泛美公路。这条纵贯美洲大陆的公路，北起阿拉斯加北极圈附近，南至阿根廷火地岛，全长约48000公里，跨越17个国家。“这次走得比较远，路途也比较艰难。”大远说，为了这趟旅程，他特意买了一辆国产哈弗SUV，挂上了家乡张家口的“冀G”车牌。“辽宁是我爱人的家乡，天津是我上学的城市，张家口是我最挂念的家乡。”他解释道。签证申请成功后，大远又办理了一系列车辆相关的手续和文件。
F | 车辆从浙江宁波起运，抵达美国旧金山后，他和一位负责摄影的朋友一起开车，正式开启这次旅程。
G | 他们经过洛杉矶、拉斯维加斯、西雅图，再进入加拿大温哥华，前往泛美公路的起点，位于北极圈内的阿拉斯加。大远告诉纵览新闻，由于挂着中国车牌，刚上路第一天，就被美国警察拦停了。“说实话当时挺忐忑的，不知道他找我干什么。
H | ”大远说。让他没想到的是，当地警察核对完文件后，还跟他聊起了天，讲述他在互联网上关注的汽车博主测评中国制造的车辆，警察说中国车的车轮会自己转向、会自动泊车，太不可思议了。得知大远这次的旅程后，拦下他的警察投来敬佩的目光，还把自己的警徽和一枚臂章送给大远当礼物，并把自己的邮箱告诉大远。“他说欢迎我来美国，在路上从来没见过中国牌照的汽车，希望我完成旅程到达阿根廷后，可以给他发照片。
I | ”大远说。大远开着“冀G”车牌国产车穿越美洲。
J | 受访者供图大远感叹：“自驾以来，我收到了很多善意。
K | ”在意大利威尼斯，有华人开车追了他200多公里，只为和中国车牌合影；在土耳其、法国、德国，当地人看到中国车牌都会围过来询问。最让大远感动的是，今年8月14日他在温哥华的一次偶遇。当时，他的车辆行驶了将近6000公里，需要进行保养，由于当地没有品牌4S店，他在网上搜到一家华人开的修理厂，打算去询问一下。老板来自新疆，出国20多年了，本来修理厂是不做保养的，但是看到中国车牌，便决定帮忙，还对国产汽车赞不绝口。老板帮他换了机油、洗了车，还喷上香水，却坚决不收钱。在大远发布的视频中，这位老板有些激动地说：“我在加拿大20多年了，从来没在加拿大的路上见过国产车，这个车代表的是中国，代表了中国制造，我们在海外的华侨看到你们开这个车，非常自豪，非常开心。”最后，大远还是坚持给老板付了一部分费用。“作为中国人很自豪！”大远告诉记者，是海外华人的善意和无私的帮助给了他自驾全世界的勇气。“有梦想一定要尽早实现它”这样的一趟自驾旅行，需要一笔不小的费用。大远坦言，仅车辆海运就花了5万余元，旅行中平均一个月的花销也在3-5万元。
L | 但他自己在心里算了一笔账，相比于其他物质需求，他更想用这笔钱实现自己的梦想。在大远看来，“看完世界，才能有世界观。自由地做自己想做的事，生命才更有意义。”为了这趟旅程，大远还提前在墨西哥和危地马拉学习了两个月西班牙语。目前，他唯一的担心是途经洪都拉斯等国家可能遇到入境困难，以及部分地区可能会有安全问题。
M | 他说：“我们只是这个世界的记录者和观察者，善良的人总会遇到善意。”大远开国产车穿越中东。受访者供图在大远这几次旅程中，并不是总充满温情，也有未知与惊险。2024年从中东返回中国时，大远要从阿富汗经帕米尔高原入境新疆，为了尽快回国，他一直在赶路，在海拔4000到5000米的高原上出现了严重的高反，他硬着头皮开了整晚，还在车里睡了两夜。“头特别疼，但我不知道是高原反应。
N | ”大远回忆，“后来回到家，疼得满地打滚，去医院也没检查出问题，后来才知道是高反了，当时周围全是山，除了土拨鼠什么都没有。
o | 再多睡一夜，可能命就没了。
p | ”即便如此，大远依然选择继续走下去。目前，大远和同伴正驾车驶向阿拉斯加，预计10天后抵达泛美公路的起点。如果一切顺利，他们将在2027年春节前后完成这趟从北极到南极的穿越。然而，大远的环球梦想并未止步，“完成这趟之后，我想把车运到非洲，从南非再开回挪威，从北极到南极，再回到北极。”大远将旅程经历记录下来。网页截图大远在旅途中经历了很多，他将自己的经历记录下来，发布到社交平台，收获了8.1万粉丝。从2013年尼日利亚到贝宁的第一次跨国自驾，到2024年的欧亚中东之旅，再到2026年的泛美公路穿越，大远的车轮越跑越远，地图上的行车轨迹越来越长。“有梦想一定要尽早实现。有些事情，走着走着就把它实现了。
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