Commerce and Industry Minister Piyush Goyal has urged American companies to expand their presence in India, partner with Indian small and medium enterprises (SMEs) and invest in advanced manufacturing. The pitch comes as India and the United States seek to deepen economic ties and move ahead with a proposed bilateral trade agreement.
Speaking at a business roundtable organised by the National Association of Manufacturers (NAM) in Milwaukee, Goyal highlighted India’s expanding industrial base, skilled workforce and growing opportunities in manufacturing and technology. He invited US companies to explore deeper partnerships and co-investment in high-value manufacturing capabilities.
The minister said the India-US economic relationship is moving beyond traditional trade and increasingly covers investment, manufacturing, technology, innovation and resilient supply chains. The focus reflects a wider effort by both countries to make their supply chains more diversified and better equipped to handle global disruptions.
Goyal’s message to US manufacturers was also aimed at bringing more American investment into India. Partnerships with Indian SMEs could help global companies build local supply networks while giving smaller Indian businesses access to technology, capital, manufacturing expertise and international markets.
The government has indicated that it is ready to facilitate the operations, expansion and investments of American companies in India. Goyal held discussions with CEOs and senior executives from leading US manufacturing and technology companies, who also shared their views on opportunities emerging in the Indian market.
The push for advanced manufacturing comes at a significant time for India. The country is seeking to strengthen its manufacturing base, attract global companies and become a larger part of international supply chains. Areas such as electronics, engineering, technology, industrial equipment and other high-value sectors are increasingly important to this strategy.
The US is already one of India’s major trading and investment partners. However, the relationship is facing several trade-related challenges, including differences over tariffs and market access. The two sides are negotiating an India-US Bilateral Trade Agreement, with an interim agreement being discussed as an immediate step.
Goyal met US Trade Representative Jamieson Greer on the sidelines of the G20 Trade Ministers’ meeting in Milwaukee. After the meeting, Goyal said the two sides had a productive discussion aimed at an early conclusion of a mutually beneficial interim agreement under the broader bilateral trade agreement.
The trade negotiations have taken on greater importance as tariff conditions between the two countries have changed. India is seeking competitive access for its exporters in the US market, while Washington has raised concerns on areas including tariffs, market access and trade practices.
The proposed agreement is therefore being negotiated alongside broader discussions on the future of India-US economic relations. Both governments are looking at ways to expand trade while creating greater certainty for businesses operating across the two markets.
Goyal’s visit also coincides with the G20 Trade Ministers’ meeting in Milwaukee, where trade ministers are discussing issues affecting the global trading system. The agenda includes supply chains, excess industrial capacity, forced labour and other challenges facing international commerce.
US Trade Representative Greer opened the meeting with a call for a new approach to global trade rules. He also used a lighter moment to describe Goyal as a “trade minister for life”, underlining the frequent engagement between the two officials on trade issues.
The latest engagement comes after Goyal said last week that the India-US trade pact was close to completion but would be implemented once India receives a competitive advantage over rival exporting countries in the American market. The comments point to the importance of tariffs and market access in the remaining negotiations.
The US remains an important destination for Indian exports, while American companies have a growing interest in India’s large domestic market and manufacturing potential. Greater investment by US firms could also support technology transfer, employment and the development of domestic supply chains.
At the same time, deeper manufacturing cooperation would give American companies another base from which to serve both the Indian market and global customers. India is positioning itself not only as a large consumer market but also as a manufacturing and export hub.
The government’s focus on US manufacturers also fits into its broader Make in India strategy, which aims to increase domestic production and attract global investment. Greater participation by multinational companies and their Indian SME partners could strengthen the ecosystem around advanced manufacturing.
The next phase will depend partly on the outcome of the India-US trade negotiations and the ability of both sides to resolve outstanding tariff and market-access issues. For businesses, a clearer trade framework could provide greater visibility for investment and long-term supply-chain decisions.
Goyal’s outreach in the US signals that India is seeking to build the relationship on more than just trade in goods. Investment, technology, manufacturing and supply-chain partnerships are increasingly becoming central to the India-US economic partnership.
