🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

Indian Olympic Association to review Li Ning deal amid China protests

Published 19/06/2020, 12:28
© Reuters. A sculpture of shoes is displayed at Li Ning Center in Beijing

By Amlan Chakraborty

NEW DELHI (Reuters) - The Indian Olympic Association (IOA) will review its tie-up with sportswear maker Li Ning following a public backlash against Chinese companies though Vivo will stay on as title sponsor of the Indian Premier League (IPL), sports officials told Reuters.

Chinese companies in India are facing a backlash after the killing this week of 20 Indian soldiers by Chinese forces in a Himalayan border dispute.

A wave of anti-China sentiment has led the IOA to reconsider its association with Chinese company Li Ning, its apparel partner.

"We have a tie-up with them until the Tokyo Olympics," IOA secretary-general Rajeev Mehta told Reuters.

"We'll discuss the matter in our annual general meeting. Our approach will always be country-first."

Reuters has contacted Li Ning for comment.

There have also been demands on social media for Chinese smartphone maker Vivo to be dropped as the title sponsor of the country's popular Twenty20 cricket league.

Former test spinner Harbhajan Singh tweeted: "Ban all Chinese products".

Board of Control for Cricket in India (BCCI) treasurer Arun Singh Dhumal questioned whether dropping Vivo, which bagged the 2018-22 IPL title rights for 21.9 billion rupees ($287.21 million), would serve any purpose.

"People are naturally emotional but we have to differentiate -- whether it's helping the Chinese companies, or their sponsorship is helping India's cause," Dhumal told Reuters.

"Rather than the money going back to China, if that's retained here as sponsorship money, and I'm able to pay tax to the government, that's helping India's cause, isn't it?"

Vivo did not respond to a Reuters request to comment.

Dhumal said the BCCI would not engage any Chinese company in stadium construction but sponsorship was a different issue.

"We are not giving any building contract to any Chinese company, when money flows out of BCCI to China. This is the other way round."

© Reuters. A sculpture of shoes is displayed at Li Ning Center in Beijing

($1 = 76.25 Indian rupees)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.