Ø
India
and America Are Working as Natural Partners; There is Complementarity and Trust
Ø
India
Can Be Trusted to Deliver High-Quality Output on Time Amid Global Crises
Ø
Export
Promotion Mission Will Help MSMEs Get Proper Certifications Required to Become
Part of Global Supply Chains
Ø
We
Are Looking at an Area-Based Approach to Develop Industries Across the Country;
We Have Created a Holistic Development Model
Ø
India
Will Continue to Be the World’s Fastest-Growing Economy for at Least the Next
25 Years
·
Piyush
Goyal said India and the United States are natural partners complementing each
other across:
o technology innovation,
o defence,
o data centres,
o quantum computing,
o and medical devices.
·
Addressing
the Annual Leadership Summit of the American Chamber of Commerce in New Delhi,
Mr. Goyal said the partnership is based on:
o mutual trust,
o shared economic interests,
o and complementary economies.
·
The
Minister said commitments from American companies during the last six months
are estimated at over 60
billion dollars.
·
Major
investments include data centre projects by:
o Amazon
o and Google.
·
Mr.
Goyal said India offers:
o trusted governance,
o strong intellectual property protection,
o skilled talent,
o large-scale market demand,
o and globally competitive infrastructure.
·
He
stated that India’s and America’s economies have minimal competition and strong
complementarity, helping create resilient global supply chains.
·
The
Minister highlighted the proposed Bhavya
scheme, aimed at developing 100 new industrial parks with:
o integrated worker housing,
o recreation,
o and social infrastructure.
·
He
said improved infrastructure, free trade agreements and lower logistics costs
are strengthening:
o manufacturing,
o exports,
o and investment growth.
·
Mr.
Goyal expressed confidence that India will remain the world’s fastest-growing
major economy for the next 25 years.
·
Highlighting
MSME support, he said the proposed Export
Promotion Mission will help small businesses secure global
certifications required for participation in international supply chains.
·
Agencies
including:
o Export Inspection Council,
o Bureau of Indian Standards,
o and Food Safety and Standards Authority of
India
are
strengthening testing and quality infrastructure.
·
Mr.
Goyal said India’s growth forecast was upgraded from 6.4% to 6.5% despite
geopolitical challenges such as:
o the Ukraine conflict,
o and West Asia tensions.
·
He
described the India-US relationship as the “defining partnership of the 21st
century” driven by:
o American innovation and investment,
o and Indian talent and skills.
·
On
manufacturing, he said India is transitioning from:
o “assemble in India”
to:
o design,
o innovation,
o and intellectual property creation.
·
He
noted that innovations developed in India can often be created at one-third or
one-fifth of the cost seen in developed countries.
·
Mr.
Goyal said global firms increasingly prefer India for establishing:
o Global Capability Centres (GCCs),
o instead of relocating talent overseas.
·
India
currently hosts:
o 2,117 GCCs,
o employing around 2.35 million people,
o generating nearly 98 billion dollars in
revenue.
·
He
highlighted rapid growth in:
o digital adoption,
o research and development,
o and innovation across tier-two and
tier-three cities.
·
Referring
to flagship initiatives under Narendra Modi, the Minister cited:
o Startup India,
o Make in India,
o and Digital India.
·
On
renewable energy, Mr. Goyal said India’s solar power capacity has increased
from less than 2 GW to
over 150 GW in under 12 years.
·
He
said India now offers:
o reliable 24-hour clean power,
o globally competitive electricity rates,
o low data costs,
o and strong digital infrastructure.
·
The
Minister highlighted India’s rapid nationwide 5G rollout, including coverage in remote
regions.
·
He
said tax incentives available till 2047 are supporting:
o advanced manufacturing,
o data centres,
o and technology investments.
·
Referring
to infrastructure, Mr. Goyal described PM Gati Shakti as a transformative
platform integrating nearly 1,800
geospatial and infrastructure data layers.
·
He
said PM Gati Shakti improves:
o logistics planning,
o connectivity,
o land acquisition,
o and infrastructure efficiency.
·
The
Minister said India aims to become a developed nation by 2047 with:
o projected per capita income of 20,000 dollars,
o and a population of around 1.6 billion.
·
Mr.
Goyal urged global businesses and investors to recognise India’s:
o capability,
o aspirations,
o talent,
o and long-term growth potential.
Union
Minister of Commerce and Industry Piyush Goyal on 21 may, 2026 said that India
and the United States are working as natural partners and complement each other
across sectors including technology innovation, high precision defence, digital
data centres, quantum computing and medical devices. Addressing the Annual Leadership
Summit of the American Chamber of Commerce in New Delhi, the Minister said the
partnership between the two countries is strengthened by mutual trust and
shared economic interests.
Mr.
Goyal said commitments from American industry in the last six months are
estimated to be upwards of 60 billion dollars, including major data centre
investments by companies such as Amazon and Google. He said India provides a
trusted framework for global companies and combines scale, talent and market
opportunity in a manner unmatched globally.
The
Minister said America is looking for a trusted partner and India has
consistently demonstrated respect for intellectual property rights while
delivering high-quality output on time. He said India offers a large pool of
skilled talent and provides scale to American innovation through demand
aggregation from 1.4 billion aspirational Indians, rising incomes and a growing
middle class.
Mr.
Goyal said India and the United States have economies that complement each
other with minimal competition, making the partnership stronger. He said when
complementarity is combined with mutual trust, it creates an unbeatable
combination capable of building trusted and resilient supply chains for the
future.
The
Minister said the Government is also adopting an area-based approach to
industrial development through the Bhavya scheme aimed at creating 100 new
industrial parks across the country. He said the model integrates industrial
infrastructure with worker housing, recreation and social amenities to create
holistic industrial ecosystems.
Mr.
Goyal said improved infrastructure, lower logistics costs and free trade
agreements together are creating a virtuous cycle of investment, manufacturing
growth and export competitiveness. He expressed confidence that India will
continue to remain the world’s fastest growing economy for at least the next 25
years.
Highlighting
the role of MSMEs in strengthening global supply chains, Mr. Goyal said the
Government has initiated coordinated efforts involving the MSME Ministry and
the Department for Promotion of Industry and Internal Trade to support
technology upgradation and skill development for MSMEs.
He
said the proposed Export Promotion Mission will help MSMEs secure globally
recognised certifications necessary to become part of international supply
chains. Mr. Goyal added that agencies such as the Export Inspection Council,
Bureau of Indian Standards and FSSAI are working together to build world-class
testing and quality infrastructure across India.
Highlighting
India’s resilience amid global uncertainties, Mr. Goyal said India’s growth
forecast was upgraded from 6.4 per cent to 6.5 per cent despite challenges such
as the Ukraine conflict and the West Asia crisis. He said this reflects India’s
capability, decisive leadership and growing confidence in engaging with the
world as a reliable and favoured investment destination.
The
Minister said global leaders increasingly view India with admiration and
expectation, and this recognition is motivating Indians to work towards
building a stronger nation and a better future for coming generations. He
described the India-US partnership as a defining partnership of the 21st
century driven by American innovation and investment combined with Indian skill
and talent.
Speaking
on India’s manufacturing transformation, Mr. Goyal said India is rapidly moving
away from the earlier model of sourcing globally and assembling products
domestically towards becoming a centre for design, innovation and intellectual
property creation. He said innovations that may cost billions of dollars in
developed countries can be developed in India at one-third or one-fifth of the
cost.
The
Minister said global companies are increasingly recognising India as a
preferred destination for setting up global capability centres rather than
relocating talent overseas. He said this shift accelerated after the COVID
pandemic demonstrated the effectiveness of remote working and offshoring to
trusted partners such as India.
Mr.
Goyal said India is witnessing a rapidly growing culture of research and
development and innovation among the youth. He noted that digital adoption and
technology awareness are spreading quickly not only in metropolitan cities but
also in tier-two and tier-three cities and eventually villages because of
India’s strong digital backbone.
Highlighting
the long-term vision behind India’s transformation, Mr. Goyal referred to
flagship initiatives launched under the leadership of Prime Minister Mr. Narendra
Modi, including Startup India, Make in India and Digital India. He also
referred to initiatives related to financial inclusion, women empowerment and
the creation of a unified national electricity grid.
The
Minister said India’s renewable energy sector has witnessed unprecedented
growth over the last decade. He said solar power capacity has increased from
less than two gigawatt to over 150 gigawatt in under
twelve years, supported by visionary policy decisions and ambitious targets set
by the Government.
Mr.
Goyal said India today offers high-quality power infrastructure, including
24-hour clean energy at globally competitive rates, making the country an
attractive destination for data centres and advanced manufacturing. He added
that India offers reliable infrastructure, technological talent, a trusted
digital ecosystem and a large domestic market along with tax incentives
extending till 2047.
The
Minister said these factors are enabling India to build ecosystems that support
design, development and manufacturing while generating high-paying jobs for
India’s youth. He said India’s ambition is to move beyond the earlier “assemble
in India” model and create a prosperous and developed nation by 2047.
Referring
to India’s digital infrastructure, Mr. Goyal said the country has achieved one
of the fastest 5G rollouts across the length and breadth of the country,
including remote areas, while also providing among the world’s lowest data
costs. He said India is already preparing for the next phase of digital growth
and technological advancement.
Mr.
Goyal said India currently hosts 2,117 global capability centres employing
approximately 2.35 million people directly and generating nearly 98 billion
dollars in revenue. He said these developments are contributing significantly
to India’s sustained economic growth at a time when several countries are
struggling with low growth rates.
The
Minister said India has achieved significant progress but remains committed to
continuous improvement and deeper engagement with the United States across
technology, investment, manufacturing and innovation sectors. He expressed
confidence that the coming decades will witness even greater economic
integration between the two countries.
The
Minister said the Government is ready to support industries in establishing
modern testing facilities equipped with the best global technologies. He urged
industry stakeholders to guide the Government in further expanding India’s
testing ecosystem to international standards.
Citing
the example of the mega common facility centre at SEEPZ in Mumbai, Mr. Goyal
said the centre was established through a public-private partnership model and
houses world-class facilities for jewellery design, manufacturing, prototyping
and testing. He noted that the project, initially planned for 30,000 square
feet, was expanded to 100,000 square feet and became surplus-generating within
its first year because of strong industry participation.
The
Minister said recent budget announcements, Semicon
Mission 2 and initiatives aimed at promoting critical mineral processing
technologies demonstrate the Government’s commitment to supporting industry and
advanced manufacturing. He urged MSMEs and larger companies alike to leverage
these opportunities for future growth.
Describing
the Government as a listening and adaptive administration, Mr. Goyal said there
are no silos within the Government and ministries work together as one team. He
said the Government remains open to policy changes and newer approaches based
on the evolving requirements of businesses and industries.
Mr.
Goyal also appealed to larger companies to support MSMEs through faster payment
cycles. Referring to the existing 45-day payment requirement for MSME
suppliers, he suggested that companies could consider clearing payments within
seven days after approval of goods to improve MSME cash flow, strengthen supply
chains and encourage investment in technology and quality enhancement.
On
infrastructure development, Mr. Goyal said infrastructure remains central to
India’s growth strategy because of its multiplier effect on jobs, incomes,
industrial growth and tax revenues. He said sectors ranging from aviation to
digital services benefit directly from rapid infrastructure expansion.
The
Minister highlighted PM Gati Shakti as a transformative initiative developed by
the Commerce and Industry Ministry to create smarter and more efficient
infrastructure planning across the country. He said the platform integrates
nearly 1,800 layers of geospatial and infrastructure-related data to improve
planning and execution.
Mr.
Goyal said PM Gati Shakti enables better planning of highways, railway lines,
ports and logistics infrastructure by identifying the most efficient routes,
reducing delays, improving land acquisition and strengthening last-mile
connectivity. He noted that the initiative helps reduce infrastructure costs
and improve operational efficiency.
Recalling
earlier logistical bottlenecks around major ports such as JNPT, Mr. Goyal said
PM Gati Shakti has fundamentally changed infrastructure planning and
implementation in India by enabling coordinated and technology-driven
decision-making.
Speaking
about the vision for Viksit Bharat 2047, Mr. Goyal said the Government is
working with clearly defined targets and long-term planning similar to
successful businesses. He said India aims to become a developed nation with a
projected per capita income of 20,000 dollars and a population of around 1.6
billion by 2047.
The
Minister said Government initiatives related to financial inclusion, housing,
water access, ease of living and ease of doing business are all being
implemented with precision and measurable goals. He added that the Government
continuously reviews progress and addresses slippages through corrective
planning and policy action.
Mr.
Goyal urged businesses and investors to look beyond the present and recognise
the capability, talent, aspirations and agility of India and its people. He
said those who trust India’s growth story will continue to benefit from the
country’s long-term economic transformation.