Commerce minister Piyush Goyal woos American companies to co-invest in advanced manufacturing

Commerce and Industry Minister Piyush Goyal reached out to American manufacturers during a business roundtable, inviting them to bolster their presence in India. Goyal emphasized that the economic ties between the US and India are expanding, transcending traditional trade to include investment, manufacturing, technology, innovation, and resilient supply chains. He underscored the growing industrial base and skilled workforce in India, which is poised to create high-value capabilities for both nations.

At the roundtable organized by the National Association of Manufacturers (NAM) in Milwaukee, Goyal encouraged American manufacturers to explore co-investment opportunities in advanced manufacturing and forge partnerships with Indian SMEs. The aim was to build supply chains that would generate value for both economies.

During the event, Goyal met with CEOs and senior executives from prominent American manufacturing and technology companies. He reiterated that the India-US economic relationship is evolving beyond conventional trade, focusing on investment, manufacturing, technology, innovation, and resilient supply chains. The CEOs shared their insights on emerging opportunities in India and their companies' perspectives on expanding partnerships in the country.

Goyal expressed the government's readiness to support companies' operations, expansion, and investments in India. He also participated in a reception hosted by the Business Roundtable and NAM at Rockwell Automation's global headquarters. Goyal interacted with trade ministers from other G20 countries and senior business leaders from US companies during the visit.