Goyal Urges US Manufacturers to Expand Presence in India

Piyush Goyal urges US manufacturers to expand in India, partner with SMEs, and co-invest in advanced manufacturing to strengthen resilient India-US supply chains.

Union Commerce and Industry Minister Piyush Goyal has urged US manufacturers to expand their presence in India, partner with Indian small and medium enterprises (SMEs), and explore joint investments in advanced manufacturing to strengthen supply chains between the two countries.

Goyal made the remarks while addressing a business roundtable convened by the National Association of Manufacturers (NAM) in Milwaukee, Wisconsin. The meeting brought together representatives from small and large manufacturing companies across the United States as part of his ongoing visit to the country for the G20 Trade Ministers’ Meeting.

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Highlighting the momentum in India-US economic relations, Goyal pointed to India’s expanding industrial base and skilled workforce. He invited American manufacturers to explore investment and business partnership opportunities in India and deepen their engagement with domestic enterprises.

The minister specifically encouraged US companies to collaborate with Indian SMEs and co-invest in advanced manufacturing. According to Goyal, such partnerships can contribute to building resilient supply chains while creating value for both economies.

Goyal’s outreach comes alongside ongoing negotiations between India and the US on a proposed bilateral trade agreement. During his US visit, he is also scheduled to hold discussions with US Trade Representative Jamieson Greer on advancing the negotiations and working towards an interim agreement based on the February 7, 2026, joint statement.

The minister had earlier said that the trade agreement was close to completion but indicated that its execution would depend on India securing an appropriate competitive advantage for its exports in the US market. A senior US State Department official separately described the agreement as being around 90 percent completed, while noting that final details remained under discussion.

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External Affairs Minister S. Jaishankar has also described the proposed agreement as being at an advanced stage, while pointing to changes in the US tariff landscape and the ongoing Section 301 process as factors affecting its timing. Section 301 allows the US Trade Representative to investigate certain foreign trade practices and take action where applicable.

Goyal’s engagement with US manufacturers forms part of India’s broader efforts to attract investment, strengthen manufacturing partnerships, and expand participation in global supply chains.