In Chinese culture, red is a lucky colour; it's often used for gift giving or weddings. Similarly in Hinduism, red is considered lucky (as far as I've read) and brides wear red at their weddings. The only commonality I can see between Indian culture and Chinese culture (in terms of beliefs) is Buddhism, is it because of this or something entirely different or a coincidence?
Like… Cinnibar?
It’s the red stuff used for stamps/seals/signatures in East Asia. The Olmec were also keen on their red pigment, as you can see from the Tomb of the Red Queen.
It’s also mercury-based, so pretty fucking toxic.
Edit: Also for OP, the Wikipedia articles on Vermilion. Pigments were usually prized everywhere, and both China and India have very long art histories that predate most religions anyway but Buddhism is only 2000 years old.
if it was associated with Luck, it was almost certainly because for a very long time only wealthy people could afford it