New High-Value Sectors Expand Scope of India-US Trade Partnership

India and the US are broadening their economic relationship beyond traditional trade to focus increasingly on investment, advanced manufacturing, technology, innovation and resilient supply chains, Commerce and Industry Minister Piyush Goyal said on Wednesday.

Goyal made the remarks after arriving in Milwaukee to attend the G20 Trade Ministers’ Meeting. He was received by Consul General of India in Chicago M. Anand Prakash, according to an official statement.

During his visit, Goyal interacted with CEOs and senior executives of leading US manufacturing and technology companies at a business roundtable hosted by the National Association of Manufacturers (NAM).

The Commerce Ministry said the business leaders shared their views on emerging opportunities in India and discussed prospects for expanding their partnerships in the country.

Goyal told the executives that the Indian government was ready to facilitate companies in their operations, expansion and investments in India.

NAM represents a substantial share of leading US manufacturing companies, which together contribute significantly to the country's manufacturing GDP of around $3 trillion.

Goyal also attended a reception hosted by the Business Roundtable and NAM at the global headquarters of Rockwell Automation, where he interacted with trade ministers from other G20 countries and senior US business leaders.

Highlighting the momentum in India-US economic ties, the minister pointed to India's expanding industrial base and skilled workforce. He invited American manufacturers to deepen their presence in India, partner with Indian small and medium enterprises and explore co-investment in advanced manufacturing.

According to the Commerce Ministry, such partnerships could contribute to building resilient supply chains and creating value across both economies.

The engagements come as India and the US seek to advance negotiations on a balanced and mutually beneficial Bilateral Trade Agreement (BTA).

Goyal is also scheduled to hold a series of bilateral meetings in the US aimed at strengthening trade and investment ties. His upcoming engagement with US Trade Representative Jamieson Greer is expected to be part of the ongoing discussions on advancing the proposed trade agreement.