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India-China business ties: 10 large Indian companies with Chinese partnerships

Published on 22/09/2025 05:12 PM

India and China are cautiously recalibrating their economic ties in 2025, with bilateral trade reaching $127.7 billion in FY25, marking a fourfold increase over the past decade. Despite ongoing geopolitical tensions, both countries are exploring collaborations, and several large Indian companies maintain Chinese partnerships in electronics, machinery, and technology, while India exports agricultural and industrial goods, highlighting a complex yet expanding economic interdependence. Here are 10 large Indian companies who have partnerships in China.1. Sun Pharmaceutical Industries | Sun Pharma, India’s largest drugmaker, has out-licensed its psoriasis drug Ilumya (Ilumetri) to a subsidiary of China Medical System Holdings for commercialisation in Greater China. Its market value is ₹3,97,329 crore.2. Tata Motors | Tata Motors, India’s largest automobile company, has engaged in licensing collaborations with its Chinese partners, particularly in the Jaguar Land Rover segment, to enhance its product portfolio. The company commands a market cap of ₹2,60,437 crore.3. Cipla | Cipla, a leading Indian pharmaceutical company known for respiratory and chronic disease drugs, created a joint venture in China with Kidd Pharma, a subsidiary of CSPC. In September 2025, Cipla acquired its partner’s stake to take full control. The company is valued at ₹1,27,267 crore.4. Dr Reddy’s Laboratories | Dr Reddy’s Laboratories, a major pharmaceutical company offering generics and speciality products, has a joint venture with Kunshan Rotam Reddy Pharmaceutical Co. in China to market and distribute medicines. Its current market cap stands at ₹1,10,289 crore.5. Dixon Technologies (India) | Dixon Technologies, India’s leading electronics manufacturing services (EMS) company, has multiple joint ventures with Chinese firms such as Vivo, Longsher, HKC, and Q Tech to produce smartphones, camera modules, and precision parts. The company is valued at ₹1,09,872 crore in market capitalisation.6. SAMIL | Samvardhana Motherson International (SAMIL), a well-known automotive components supplier, has a Chinese partner, JMCG, which owns a 60% stake in their joint venture to expand manufacturing capabilities. The company has a market capitalisation of ₹76,751 crore.7. Uno Minda | Uno Minda, a supplier of automotive components including lighting, switches, and seating, has partnered with Shenyang Jiuan Auto Lamp of China in a joint venture to manufacture automotive lamps. It holds a market value of ₹75,772 crore.8. Aurobindo Pharma | Aurobindo Pharma, a global pharmaceutical company focused on generics and active pharmaceutical ingredients, has a joint venture with Luoxin Auroviris Pharm in China for commercialising medicines. Its market cap is at ₹65,003 crore.9. Glenmark Pharma | Glenmark Pharma, known for its presence in generics, speciality, and over-the-counter drugs, has partnered with China’s Harbour BioMed to collaborate in the field of immunology and innovative therapies. The company’s market capitalisation is ₹58,844 crore.10. Ashok Leyland | Ashok Leyland, one of India’s largest commercial vehicle manufacturers, has entered into a technical partnership with CALB, a Chinese battery maker, to develop advanced battery systems for its buses and trucks. It currently has a market cap of ₹ 41,372 crore.NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.