Goyal urges US manufacturers to expand presence in India, partner with Indian SMEs

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 co-invest in advanced manufacturing to build resilient supply chains between the two countries.

Goyal made the remarks while addressing a business roundtable convened by the National Association of Manufacturers (NAM), which brought together representatives of small and large manufacturing companies from across the United States.

Highlighting the momentum in India-US economic ties, the Commerce Minister pointed to India’s expanding industrial base and skilled workforce, and invited American manufacturers to explore investment and partnership opportunities in the country.

Goyal called on US companies to deepen their presence in India by partnering with domestic SMEs and investing jointly in advanced manufacturing.

He said such partnerships could help build resilient supply chains and create value for both economies.

Earlier, Goyal had said that the India-US trade deal was almost “done and dusted”, adding that the two sides would execute the pact once Washington provides India with the right competitive advantage over its rivals in the US market.

Separately, a senior US State Department official told ANI that the India-US trade deal was “90 per cent completed”, with only the final details remaining to be worked out.

The official described the trade deal as the “most sticking point” in bilateral ties and said its conclusion could potentially “unleash another level” of India-US relations.

External Affairs Minister S Jaishankar has also said that the proposed trade agreement is at an advanced stage. However, he pointed to changes in the US tariff landscape and the ongoing Section 301 process as factors affecting the timing of its conclusion.

Section 301 of the US Trade Act of 1974 allows the US Trade Representative (USTR) to investigate trade practices it considers unfair or burdensome to US commerce and take trade action in response.

-ANI