India‑US Economic Dialogue Moves Into Manufacturing and Innovation
New Delhi – At a press briefing on September 30, Commerce and Industry Minister Piyush Goyal affirmed that the economic relationship between India and the United States is expanding into new domains such as manufacturing, technology and high‑value skill development, moving well beyond the traditional trade framework.
Goyal travelled to Milwaukee for the G‑20 Trade Ministers’ meeting, where he was greeted by the Indian Consul General based in Chicago. He subsequently joined a business round‑table convened by the National Association of Manufacturers (NAM), engaging with CEOs and senior leaders of major U.S. manufacturing and technology firms.
Representing manufacturers that together generate about $3 trillion of GDP, NAM highlighted the appetite of American companies for Indian market opportunities. Goyal reiterated India’s commitment to provide a facilitative environment for these corporations, ensuring smooth operational set‑up, expansion and capital inflow.
The minister also attended a reception at Rockwell Automation’s headquarters, dialoguing with G‑20 trade counterparts and senior industry representatives. He emphasized India’s accelerating industrial growth, its skilled workforce and the strategic advantage of partnering with Indian MSMEs. Goyal urged U.S. manufacturers to increase their Indian footprint and explore joint ventures in advanced manufacturing sectors.
A key focus of the discussion was the creation of robust, trustworthy supply chains that deliver value to both economies. Momentum is also building around a proposed bilateral trade agreement, with both governments seeking a balanced, mutually advantageous deal. Talks with U.S. trade official Jameson Greer are expected to outline an interim trade mechanism and a broader framework for a comprehensive agreement.
Goyal’s U.S. itinerary includes several more bilateral meetings aimed at fortifying trade and investment links, covering themes such as manufacturing, technology transfer, supply‑chain collaboration and emerging business opportunities.