India’s central government has blocked an attempted joint venture investment between China’s BYD and India-based Megha Engineering & Infrastructure Ltd that would have led to the development of a $1 billion EV factory within the country. The central government has cited national security concerns as the primary reason for its decision, though it was brought to their attention in part because of recent changes in foreign direct investment (FDI) policy which requires neighboring states to apply for permission to invest in the country before being approved by the ministries of external affairs and home affairs. This isn’t the first instance of a Chinese company being blocked from investing overseas in another country’s manufacturing capabilities and it certainly won’t be the…