News Summary

• Xiaomi says it has not received any notice or communication from the SFIO.
• The company says it complies fully with Indian law.
• In April 2022, the Enforcement Directorate seized about ₹5,551 crore from Xiaomi’s Indian bank accounts under foreign exchange laws, over allegations that the company had illegally transferred money abroad.
• The amount was worth about $676mn at the time.
• Xiaomi challenged the action, saying that 84% of the money involved was royalty paid to Qualcomm for chip licensing.
• The adjudicating authority upheld the seizure, and the funds remain frozen four years later.
• Xiaomi has been unable to access a sum larger than its current annual revenue from India while its position in the market has weakened.
• Its Indian revenue was $2.52bn in 2025, about 40% lower than three years earlier.