Could you please suggest me the best way to carry money to Shanghai?

Well, you could carry no more than USD5,000 cash to enter into China. For security consideration, I think you could pay for your hotel rate in advance online via bank. In this case, you could exchange 5,000~10,000RMB before leaving in India and take your international credit card to Shanghai.

If you take Ruppe or USD to Shanghai, you could exchange at a local bank such as Bank of China in terms of real-time rate.