India, US Economic Ties Expand Into Manufacturing, Technology and Investment: Goyal

New Delhi — The economic relationship between India and the United States is expanding beyond traditional trade to include investment, manufacturing, technology, innovation and resilient supply chains, Commerce and Industry Minister Piyush Goyal said.

Goyal arrived in Milwaukee to attend the G20 Trade Ministers’ Meeting, according to an official statement Wednesday. He was received by M. Anand Prakash, Consul General of India in Chicago.

During his visit, Goyal met with CEOs and senior executives from major U.S. manufacturing and technology companies at a business roundtable hosted by the National Association of Manufacturers.

The Commerce Ministry said executives discussed opportunities in India and their companies’ plans to expand partnerships and operations in the country.

“The CEOs and senior executives shared their views on the opportunities emerging in India and their companies’ perspectives on expanding partnerships in the country,” the ministry said.

Goyal told the executives that the Indian government was prepared to help companies with their operations, expansion and investments in India.

He also attended a reception hosted by the Business Roundtable and the National Association of Manufacturers at Rockwell Automation’s global headquarters, where he met trade ministers from other G20 countries and senior U.S. business leaders.

Goyal highlighted what he described as strong momentum in India-U.S. economic ties, along with India’s growing industrial base and skilled workforce.

He invited American manufacturers to expand their presence in India, work with Indian small and medium-sized enterprises and invest jointly in advanced manufacturing projects aimed at creating more resilient supply chains.

The minister said the relationship between the two countries is increasingly focused on building high-value capabilities in both economies, including in manufacturing, technology and innovation.

Goyal’s U.S. visit comes as India and the United States seek to advance negotiations on a bilateral trade agreement.

He is also expected to meet U.S. Trade Representative Jamieson Greer as the two sides continue discussions aimed at reaching a balanced and mutually beneficial trade deal.

Goyal is scheduled to hold additional bilateral meetings during his U.S. visit focused on expanding trade and investment ties. (Source: IANS)