FM Sitharaman Pushes India’s Case As Global Manufacturing, Innovation Hub
New Delhi: Union Minister of Finance and Corporate Affairs Nirmala Sitharaman on Monday called on 3M to deepen its investments in research and development, advanced manufacturing and local supply-chain development in India as she pitched the country as an increasingly important hub for technology, innovation and global manufacturing. Taking to the social media platform X, the Ministry of Finance…
Finance Minister Nirmala Sitharaman urged 3M to bolster its investments in research, development, advanced manufacturing, and local supply-chain growth during a meeting in Asheville, North Carolina on Monday. Speaking through the Ministry of Finance's X account, Sitharaman made the remarks during a G20 Finance Ministers and Central Bank Governors (FMCBG) meeting.
The discussions centered on expanding 3M's role in India as the nation transitions from a large consumer market to a platform for technology, innovation, and advanced manufacturing. Sitharaman also addressed data security and optimizing India's talent pool within domestic enterprises. 3M CEO William Brown appreciated India's pool of skilled workers and the potential for technology development and local markets.
The Finance Minister highlighted the country's abundant talent and manufacturing capabilities, emphasizing the need for expanded localization, R&D, and technology development to serve global and Asia-Pacific supply chains.
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