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

Sun Pharma share price

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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 close to ₹3,97,329 crore.

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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 around ₹2,60,437 crore.

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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 nearly ₹1,27,267 crore.

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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.

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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 about ₹1,09,872 crore in market capitalisation.

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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 about ₹76,751 crore.

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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 nearly ₹75,772 crore.

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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 estimated at ₹65,003 crore.

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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 about ₹58,844 crore.

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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 about ₹ 41,372 crore.

Source: www.cnbctv18.com