Haier Group, a leading Chinese appliances manufacturer, has plans to set up a joint venture with India's JSW Group envisaging a proposed investment of Rs 1,000 crore, sources said.

The proposal of Shandong-based Haier Group has been submitted to the government as it attracts Press Note 3 of 2020, under which all firms in countries that share land borders with India need mandatory government approval.

The source said the proposal was put up before the committee that scrutinises such applications. There is an inter-ministerial committee headed by the Home Secretary to consider applications under the press note.

Countries which share land borders with India are China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar and Afghanistan.

Last year in November, the USD 24-billion JSW Group signed a JV with China's auto major SAIC Motor to acquire a 35 per cent stake in MG Motor India.