Goyal pushes U.S. giants to boost India investment and manufacturing

Commerce and Industry Minister Piyush Goyal is actively promoting India as a prime destination for manufacturing, sourcing, and long-term investment during his official visit to the U.S. He has engaged with top executives from major global companies in technology, finance, insurance, consumer goods, and sportswear.

In New York, Goyal met IBM Chairman and CEO Arvind Krishna to explore deeper collaboration in artificial intelligence, cloud infrastructure, quantum computing, and other emerging technologies. The discussions emphasized leveraging India’s talent pool and growing digital adoption to develop and scale global solutions.

Goyal also discussed potential expansions with leaders from Estée Lauder, Archer Daniels Midland (ADM), and Nike. He met Stéphane de La Faveri from Estée Lauder to explore increased manufacturing and sourcing in India. With ADM, he discussed expanding the company’s presence, and with Nike executives, he focused on strengthening the company’s engagement in manufacturing, local sourcing, and the broader sports ecosystem.

In the financial sector, Goyal met Blackstone President and COO Jonathan Gray and Neuberger Berman Chairman and CEO George Walker to explore deeper investment partnerships. He highlighted India’s macroeconomic fundamentals and deepening capital markets as opportunities for global institutional investors.

Goyal’s meetings with global insurers, including MetLife President and CEO Michel A. Khalaf and AIA Group Non-Executive Chairman Mark Tucker, focused on India’s expanding insurance and financial services market. He emphasized the country’s regulatory reforms and rising demand for insurance coverage, positioning India as an ideal platform for long-term growth.