Piyush Goyal, Gina Raimondo discuss US investment in 20 upcoming industrial cities in India

Union Commerce and Industry Minister, Piyush Goyal had a productive meeting with US Commerce Secretary Gina Raimondo during the India-US CEO Forum.

The discussions focused on deepening cooperation in high priority sectors such as defence, space, semiconductors, telecommunications, artificial intelligence (AI) and clean energy, which are considered crucial for the economic and technological progress of both the countries.

“Had a fruitful meeting with US Commerce Secretary @SecRaimondo over lunch on the sidelines of the India-US CEO Forum,” the minister said in a social media post on ‘X’. Our discussions focused on the possibilities of technological and R&D cooperation in critical sectors such as defence, space, semiconductors, telecom, AI and clean energy. We also discussed opportunities for US investment in 20 upcoming industrial cities in India to promote mutual development.

The meeting held in Washington, DC on Wednesday highlighted the potential for enhanced research and development (R&D) partnerships, especially in the technology sector, which could help boost innovation and growth in both countries.

Additionally, the two leaders discussed opportunities to increase US investment in India, particularly in the upcoming 20 Industrial Cities, which are part of India’s ambitious plans for economic expansion. This focus on creating new industrial hubs is expected to generate mutual benefits by promoting shared growth, employment creation and technological innovation.

Goyal is on a visit to America from September 30 which will end today on October 3. Earlier, while addressing the CEO Roundtable of the US-India Strategic Partnership Forum on October 2, Goyal had stressed on India’s strong economic growth, thriving manufacturing sector and improved accessibility. To do business, uncovering immense opportunities for global investors.

Goyal invited US businesses to be part of India’s growth journey, foster stronger bilateral ties, and drive global progress. In separate meetings, Goyal met top executives of major global companies to discuss possible collaboration in various sectors.

During his/her meeting with Ali Dibadj, CEO of Janus Henderson Investors, and Sukh Grewal, head of strategy and corporate development, the discussion focused on expanding the company’s presence in India.