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.