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

Washington, October 2: India’s Union Minister for Commerce and Industry, Piyush Goyal met Gina Raimondo, the US Secretary of Commerce, during the India-US CEO Forum.

The discussions centered on deepening collaboration in high-priority sectors such as defense, space, semiconductors, telecom, artificial intelligence (AI), and clean energy, which are seen as vital for both nations’ economic and technological advancement.

The minister said in a social media post on ‘X’, “Held a productive meeting with the US Secretary of Commerce, @SecRaimondo, over lunch on the sidelines of the India-US CEO Forum. Our discussions focused on prospects of tech and R&D collaboration in critical sectors such as defence, space, semiconductors, telecom, AI and clean energy. We also discussed opportunities for US investments in upcoming 20 industrial cities in India to foster mutual growth.”

The meeting held on Wednesday, Oct. 2, 2024, in Washington, DC, highlighted the potential for enhanced research and development (R&D) partnerships, particularly in the tech sector, which could help foster innovation and growth in both countries.

In addition, the two leaders discussed the opportunities for increased US investments in India, particularly in the upcoming 20 industrial cities that 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, job creation, and technological innovation.

Goyal’s visit to US was from September 30 till October 3.

Earlier on October 2, while addressing the US-India Strategic Partnership Forum’s CEO Roundtable, Goyal emphasized India’s robust economic growth, thriving manufacturing sector, and improved ease of doing business, highlighting the immense opportunities for global investors.

Goyal invited American businesses to be part of India’s growth journey, fostering stronger bilateral ties and driving global progress. In separate meetings, Goyal met with top executives from major global firms to discuss potential collaborations in various sectors.