"If there are joint ventures between Chinese and Indian companies for manufacturing in India, the game China played with the US many years ago, that could be a path forward for India, and India has to keep its optionality open," he said.
"I think for India, if you can't beat them, join them, and we need to be open,” he said, adding that there are early signs that Indian companies are partnering with Chinese companies for Make in India and Chinese companies are welcome in India too.
He questioned India’s historical reliance on Western investments, and said it is necessary to explore alternative sources of capital, considering the evolving economic ties, especially with the US.
"Historically, India has looked too much to the West for investment, but with the challenges, particularly from the United States, and an overall more transactional approach to investment, the time has come for India to keep all its options open," he said.