India’s top conglomerates, including Gautam Adani’s Adani Group, Mukesh Ambani’s Reliance Industries, and Sajjan Jindal’s JSW Group, are quietly strengthening commercial ties with Chinese firms despite ongoing political tensions, Bloomberg reports. This cautious business diplomacy emerges amid shifting global supply chains driven by US tariffs under President Trump, encouraging a possible thaw between India and China.
Executives are seeking technology transfers in electric vehicles, batteries, and renewable energy—fields where China leads globally. Though India restricted Chinese investments after the 2020 Galwan clash, companies are exploring new ways to collaborate, often through subsidiaries in Singapore, Vietnam, and Hong Kong, to bypass restrictions. For example, JSW has partnered with Chery Automobile for new-energy tech, while Reliance is considering investments in Chinese battery tech quietly.
The easing India-China tensions include resumed visas, relaxed export rules, and expected flight restorations. However, risks remain, as China controls critical supplies like rare earths and has blocked some Indian ventures. Analysts warn Chinese firms may demand greater market access in India, challenging protectionist policies, but engaging China is vital for India’s EV and renewable energy ambitions.
