India imports heavily from its eastern neighbour. The bill is $60bn (£38.4bn). The devaluation of the yuan will mean that companies which buy from Beijing will now have to spend a little less.
Most analysts though, do not expect them to pass on that benefit to consumers here.
But there are several sectors where India competes with China to sell to the world.
This could be a problem for the economy as a whole because Indian exports have been contracting for seven months in a row already, so another dip might further affect the country's trade balance.