\u201cThe technology rests in China. Even Europe is taking the technology from China,\u201d Jindal told the Financial Times. \u201cChina has taken a huge leap versus the European auto companies, so we don\u2019t have any option.\u201d<\/p>\n
Indian Prime Minister Narendra Modi has sought to boost domestic manufacturing, with a focus on EVs, smartphones and semiconductors. His government has offered corporate tax incentives and consumer subsidies.<\/p>\n
The risks of India\u2019s reliance on China<\/a> were made stark in 2020, when the nuclear-armed neighbours reignited a decades-long dispute along their Himalayan border and Beijing \u201cstarted to clamp down on sharing technology with India\u201d, said Jindal.<\/p>\n New Delhi in turn increased scrutiny of Chinese investments, denied most visas and blocked partnerships with manufacturers, including BYD.<\/p>\n While ties have begun to improve and Modi made his first visit to China since 2019 in August, New Delhi remains sceptical of Chinese technology and investment. It also wants to gain some of the business stemming from western companies trying to diversify their supply chains away from China.<\/p>\n However, Indian companies, including JSW, are not investing enough in R&D because they are focused on building up their capacity, said Jindal. India spends just 0.66 per cent of its GDP on R&D, compared with China\u2019s 2.4 per cent and 3.5 per cent for the US.<\/p>\n \u201cThe government is trying to encourage the domestic industry, but it\u2019s also shoestring budgets,\u201d he said.<\/p>\n JSW, which has interests in ports, cement, energy and defence, entered the EV sector in 2023, producing MG Motor-branded cars as part of a joint venture with Chinese state-owned SAIC Motor.<\/p>\n The Chinese company is now looking to reduce its stake, said Jindal. The joint venture needs \u201cmore cash to be injected\u201d but SAIC is \u201creluctant\u201d, he said, adding that JSW would infuse more capital.<\/p>\n \u201cI told the [SAIC] chairman\u2009.\u2009.\u2009.\u2009we want to own a 100 per cent stake in a new venture where we will do a lot of innovation ourselves,\u201d he said, but SAIC wants \u201ceverything to be developed in China and then to be produced in India\u201d.<\/p>\n SAIC did not respond to a request for comment.<\/p>\n Batteries \u2014 a core component of EVs \u2014 are one of the biggest hurdles. India mostly imports cells from China, Japan and South Korea, and domestic production is forecast to meet just 13 per cent of the country\u2019s EV battery cell demand by 2030, according to S&P Global Mobility.<\/p>\n \u201cEventually our goal is to manufacture, design and develop the technology in India,\u201d said Jindal, but until then they would have to use Chinese technology.<\/p>\n China on Wednesday said it had filed a complaint with the World Trade Organization over India\u2019s EV\u00a0and battery subsidies, arguing that they \u201cgive Indian industry an unfair competitive advantage and harm Chinese interests\u201d.<\/p>\n Recommended<\/p>\n![\"Sajjan](\"https:\/\/www.newsbeep.com\/ie\/wp-content\/uploads\/2025\/10\/https:\/\/d1e00ek4ebabms.cloudfront.net\/production\/51168d9c-f036-4ac1-9bea-7ac586ae4d4a.jpg\")
Sajjan Jindal, chair of JSW Group said: \u2018The technology rests in China. Even Europe is taking the technology from China\u2019 \u00a9 Kanishka Sonthalia\/FT<\/p>\n
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