Uday Kotak, founder and director of , has called on India to remain open to Chinese investment and manufacturing partnerships, arguing that the country needs to diversify its sources of capital amid shifting global trade relationships.
Speaking at the Bloomberg New Economy Forum 2026 in New Delhi on Tuesday, Kotak said Indian companies partnering with Chinese firms could help expand domestic manufacturing, drawing a parallel with China’s earlier strategy of collaborating with American companies.
“For India, if you can’t beat them, join them,” Kotak said, adding that Chinese companies should be welcome to participate in India’s Make in India initiative.
Uday Kotak says India must keep options open on China
Talking about joint ventures, Kotak argued that India could explore JVs between Indian and to manufacture products domestically. He added that it was the same model that China pursued through partnerships with US companies in the past.
He said India should retain flexibility in deciding its investment partners, rather than limiting its options to particular geographies.
Kotak also questioned India’s historical dependence on Western investment, citing the challenges in its economic relationship with the and a more transactional approach to investment.
“Historically, India has looked too much to the West for investment,” he said, while arguing that India needed to consider alternative sources of capital.
Tariffs could push Chinese companies to invest locally
also highlighted how the growing use of tariffs as a trade policy instrument could influence Chinese companies’ investment decisions.
As tariffs increasingly affect cross-border trade, Chinese companies could become more willing to establish manufacturing operations in other markets, including India, rather than relying solely on exports.
“I think in a world where tariffs are a weapon,” Kotak said.
He cited partnerships involving Chinese automaker SAIC Motor’s MG brand and appliance maker Haier as examples of cooperation between Indian and Chinese businesses.