As global tensions intensify from tariffs to terror the question arises: Are India-China relations quietly warming beneath the surface? Despite diplomatic frost after the Galwan clash, trade tells a different story. In 2023, bilateral trade reached a staggering $136.2 billion, with China remaining one of India’s top partners. From telecom to pharma, Chinese components power critical sectors of the Indian economy. China has even begun sending positive signals issuing over 85,000 visas to Indians in just four months and allowing Indian leadership in Chinese firms’ local operations. So, is this economic interdependence a path to reconciliation or just strategic convenience? Even as New Delhi curbs Chinese apps and investments, the flow of goods and even visas continues. Host Anirban Chaudhury talks to Wendong Zhang, Professor and Economist at Cornell University; Ashok Kantha, India’s former ambassador to China; and ET’s Dipanjan Roy Choudhury about why, as China faces a bruising tariff war with the US, India may be more economically indispensable than it appears. Is this economic pragmatism a sign of strategic recalibration?
