Piyush Goyal Calls on US Manufacturers to Expand in India and Collaborate With SMEs

Commerce and Industry Minister Piyush Goyal has encouraged American manufacturers to increase their investments in India, collaborate with Indian small and medium-sized enterprises (SMEs), and explore joint opportunities in advanced manufacturing. Goyal made the appeal while addressing a business roundtable organised by the National Association of Manufacturers (NAM), which brought together representatives from both large and smaller manufacturing companies from across the United States.

In a post on X, the minister said discussions focused on the growing momentum in India-US economic relations. He highlighted India's expanding manufacturing ecosystem and skilled workforce, while encouraging US companies to examine new investment and partnership opportunities in the country. Goyal said American manufacturers could play a greater role in strengthening bilateral supply chains by working with Indian SMEs and pursuing joint investments in advanced manufacturing. According to him, such cooperation could help create more resilient supply networks while generating economic value for both India and the United States.

The remarks come as New Delhi and Washington continue discussions on a proposed bilateral trade agreement. Goyal had earlier indicated that negotiations were nearing completion, saying the pact could move forward once India receives a competitive position in the US market compared with other trading partners.

A senior US State Department official separately said the trade agreement was around 90 per cent complete, with the remaining issues requiring further negotiations. The official also described the agreement as a key outstanding issue in the broader bilateral relationship and suggested that its completion could give further momentum to India-US ties.

External Affairs Minister S Jaishankar has similarly described the negotiations as being at an advanced stage. However, he has pointed to changes in US tariff policies and the ongoing Section 301 process as factors that could influence the timeline. Section 301 of the US Trade Act of 1974 gives the US Trade Representative authority to investigate foreign trade practices that are considered unfair or harmful to US commercial interests and, where applicable, impose trade measures.

Against this backdrop, Goyal's outreach to American manufacturers reflects India's broader push to attract investment, strengthen domestic manufacturing capabilities and integrate Indian companies into global supply chains. Greater cooperation between US manufacturers and Indian SMEs could also provide opportunities for technology transfer, local production and expansion into international markets.

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