Goyal Says India and U.S. Are Natural Partners Across Key Sectors
NEW DELHI — Commerce and Industry Minister Piyush Goyal said Thursday that India and the United States are working as natural partners across a broad range of sectors, including technology innovation, high-precision defense, digital data centers, quantum computing and medical devices.
Speaking at the annual leadership summit of the American Chamber of Commerce in New Delhi, Goyal said the partnership between the two countries is being strengthened by mutual trust and shared economic interests.
He said commitments from American industry over the past six months are estimated at more than $60 billion, including major data center investments by companies such as Amazon and Google.
Goyal said India offers a trusted framework for global companies by combining scale, talent and market opportunity in a way few countries can match.
America is looking for a trusted partner, he said, and India has consistently demonstrated respect for intellectual property rights while delivering high-quality work on time. He added that India offers a large pool of skilled talent and gives scale to American innovation through demand from 1.4 billion aspirational Indians, rising incomes and a growing middle class.
Goyal said the Indian and U.S. economies complement each other with limited competition, making the partnership stronger. When that complementarity is combined with mutual trust, he said, it creates a powerful foundation for building trusted and resilient supply chains.
The minister also highlighted the role of micro, small and medium enterprises in strengthening global supply chains. He said the government has launched coordinated efforts involving the MSME Ministry and the Department for Promotion of Industry and Internal Trade to support technology upgrades and skill development for smaller businesses.
The proposed Export Promotion Mission will help MSMEs obtain globally recognized certifications needed to join international supply chains, Goyal said.
He said agencies including the Export Inspection Council, the Bureau of Indian Standards and the Food Safety and Standards Authority of India are working together to build world-class testing and quality infrastructure across the country.
Goyal also pointed to India’s economic growth outlook, saying the country’s forecast has been upgraded from 6.4 percent to 6.5 percent despite challenges such as the war in Ukraine and the West Asia crisis.
India will remain the world’s fastest-growing major economy for at least the next 25 years, he said.
India currently hosts 2,117 global capability centers, which directly employ about 2.35 million people and generate nearly $98 billion in revenue. Goyal said those developments are contributing significantly to India’s sustained economic growth at a time when several countries are struggling with slower expansion. (Source: IANS)
