The full picture on Chinese export controls is sharper than just TBMs alone. The licence rule applies to exports to “sensitive countries and regions in dispute with China.” The list also covers walking excavators and plateau shotcrete machines used above 3,000 metres.Basically the equipment that builds roads and tunnels as part of India's massive infrastructure buildout in Himalayas. Beijing has also put controls on drone autopilots and engines, and last week floated a draft to restrict 40+ technologies, including next-gen solar manufacturing. Every sector where India is trying to cut dependence on China is now a chokepoint. Just need to face it and build it here, and build it fast. via @businessline