As energy shocks from the Iran war underscore India’s fossil‑fuel vulnerability, its companies are turning to China to explore tie-ups in the electric vehicle charging, battery solutions, and renewable energy space.
For the first time in over five years, a delegation of Indian businesses visited China, according to Ranjeet Mehta, secretary general and CEO of Indian trade body PHD Chamber of Commerce & Industry. Between March 29 and April 4, eight Indian companies met Chinese firms from Shanghai, Zhejiang and Wuxi, Mehta told CNBC.
“Energy security is extremely critical for our country,” especially against the backdrop of the “problems” arising from the Middle East conflict, Mehta said.
India, the world’s third‑largest oil importer and second‑largest consumer of liquefied petroleum gas, or LPG, is heavily dependent on supplies transiting the Strait of Hormuz. Rising energy costs and supply-chain disruptions pose a considerable downside risk to the world’s fastest-growing major economy.
Six of the eight companies are startups operating in EV charging, electric trucks, battery storage and energy trading, according to the industry body.
