"Indian tycoons are quietly advancing cooperation with Chinese technology"
"Trump's tariff campaign has further brought closer two long-term Asian rivals, and more and more Indian companies are seeking cooperation with Chinese companies. This quiet cooperation (trend) is expected to heat up further."
Bloomberg reported on August 17 local time that, as Sino-Indian relations improve, China's technological strength is attracting Indian business magnates. From the Adani Group, to Reliance Industries, and then to JSW Group, India's largest enterprise groups have been conducting quiet transactions with Chinese enterprises, which have the most mature and cost-effective technologies in renewable energy areas such as electric vehicles and lithium-ion batteries.
According to informed sources who requested anonymity, due to the Chinese side's opposition to sharing technology with potential manufacturing competitors, and the Indian side's refusal to accept large-scale investments from Chinese enterprises, Indian corporate executives have so far tried to keep these collaborations low-key. However, with signs of thawing in Sino-Indian bilateral relations, major enterprises hope that private sector cooperation will flourish.
In recent months, Indian business magnate Gautam Adani has visited China at least once, visiting companies including the world's largest battery manufacturer, CATL. Bloomberg reported earlier this month that Adani personally led negotiations with Chinese electric vehicle giant BYD for battery manufacturing cooperation. However, Adani Group denied any cooperation with BYD.
It was reported that Sajjan Jindal, a billionaire, whose JSW Group has reached an agreement with Chery Automobile Co., Ltd., to procure technology and components for its research and development of new energy vehicles.
A source said that unlike the high-profile acquisitions in the US and Europe, the Reliance Industries Group, controlled by Asia's richest person Mukesh Ambani, is quietly considering investing in Chinese domestic battery technology companies to enter the fuel cell and battery manufacturing sectors. The company has not responded to requests for comment.
Original: www.toutiao.com/article/1840775914615812/
Statement: This article represents the views of the author himself.