Milwaukee: Amid strains in India-US economic ties and unresolved trade differences, Commerce and Industry Minister Piyush Goyal has urged American manufacturers to expand their presence in India and co-invest in advanced manufacturing to build resilient supply chains.
The outreach assumes significance as India and the US remain engaged in negotiations over a proposed Bilateral Trade Agreement (BTA), with the two sides yet to bridge differences on key trade issues. Goyal is visiting the US from September 29 to October 5, with bilateral trade talks also on his agenda.
Follow The PSUWatch Channel on WhatsApp
Goyal made the investment pitch while addressing a business roundtable convened by the National Association of Manufacturers (NAM) on the sidelines of the G20 Trade Ministerial in Milwaukee, Wisconsin, on Tuesday evening.
In a post on X, Goyal said he highlighted the momentum in India-US economic ties as well as India's expanding industrial base and skilled workforce.
"Invited American manufacturers to explore opportunities to deepen their presence in India, partner with Indian SMEs, and co-invest in advanced manufacturing to build resilient supply chains that create value for both economies," Goyal said.
Follow PSU Watch on LinkedIN
His pitch to US industry comes at a sensitive point in the bilateral economic relationship. Months of negotiations have yet to produce agreement on the proposed trade pact, while tariff-related issues have added to tensions. India's Chief Economic Adviser V Anantha Nageswaran recently described India-US ties as being in an "uneasy equilibrium" against the backdrop of trade disputes.
Goyal's US visit is aimed, among other things, at advancing negotiations towards a "balanced and mutually beneficial" trade agreement, according to the Indian government.
US Trade Representative Jamieson Greer joined G20 trade ministers at a welcome reception hosted by Business Roundtable and NAM on Tuesday. The formal G20 Trade Ministerial is being held in Milwaukee on September 30 and October 1.
The talks are expected to cover contentious global trade issues, including eliminating forced labour from supply chains, updating the Most-Favoured Nation (MFN) principle, the weaponisation of food trade and structural excess capacity and production, according to the Office of the US Trade Representative.
The US holds the G20 presidency in 2026, placing Washington at the centre of discussions over the future of global trade rules at a time of heightened tariff and supply-chain tensions.
For India, Goyal's simultaneous engagement with US policymakers and American industry underscores New Delhi's effort to keep investment and manufacturing cooperation moving even as difficult trade negotiations continue.
(PSU Watch is India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy. 👉 Click to join our channel now: PSUWatch WhatsApp Channel. Prefer LinkedIn? Follow PSU Watch on LinkedIN. Click to stay connected on Twitter here and stay updated)