As President Donald Trump prepares for his May 2026 summit with Chinese President Xi Jinping in Beijing, India is closely monitoring the implications of this meeting on its strategic and economic interests. With India recently becoming China's largest trading partner in FY26, the outcomes of this summit could have significant repercussions. The most pressing issue is energy security, particularly concerning the Strait of Hormuz and India's reduced Russian oil imports. A successful negotiation could secure India's energy lifeline, while failure may force it back to costly alternatives. Additionally, the 'China Plus One' strategy, which has attracted substantial investments in India's manufacturing sector, could be undermined by any U.S.-China trade truce, potentially slowing the migration of high-tech manufacturing to India. The summit also raises concerns about India's substantial trade deficit with China, which hit $112 billion in FY26, as a U.S.-China rapprochement could lead to an influx of cheap Chinese goods that threaten local industries. Furthermore, Trump's recent decisions regarding Taiwan signal a shift in U.S. reliability, prompting India to reassess its defense partnership. Lastly, India's role in critical minerals and AI could be compromised if the summit results in a co-dependency agreement between the U.S. and China, impacting India's ambitions to become a global tech hub.