Ahead of bilateral meetings with the US in Washington DC on Wednesday, commerce and industry minister Piyush Goyal held one-to-one interactions with top investors such as Blackstone CEO Stephen Schwarzman, KKR co-founder and co-executive chairman Henry R Kravis and Warburg Pincus president Timothy F Geithner in New York, in a bid to boost American investments in India.
Goyal, who embarked on a four-day visit to the US on Monday, spent the first two days in New York, meeting American entrepreneurs and investors before proceeding for the bilateral meetings in Washington DC, a ministry spokesperson said. “The minister has invited American businessmen to invest in India’s growth story,” he said.
Addressing the US-India Strategic Partnership Forum (USISP Forum) yesterday, Goyal said India and the US share “best relationship” and the bilateral ties will strengthen further in coming years. “Under the leadership of PM @NarendraModi ji, India’s economic growth, thriving manufacturing, and improved ease of doing business offer unparalleled opportunities for global investors,” he said in a post on X.
The minister invited US businesses to join India’s growth journey, fostering stronger bilateral ties and driving global progress.
Earlier, in another post he said, “Starting Day 2 of my US visit, with a highly productive meeting with Mr. Robert Goldstein, Chief Operating Officer & Senior Managing Director of leading global investment firm @BlackRock. We explored exciting collaboration opportunities to position India as a global leader. Additionally, we discussed how BlackRock’s global expertise can be leveraged to significantly transform investment ecosystem in India to usher in greater ease of doing business for our people.” Black Rock Inc is the world’s largest asset management company.
Goyal is in the US at the invitation of the US secretary of commerce Gina Raimondo and scheduled to co-chair the 6th India-USA Commercial Dialogue on October 3 in Washington DC. They would discuss ways to generate sustainable economic growth, improving the business and investment climate and to deepen bilateral ties during the meeting, the ministry official mentioned above said.
On the first day of his visit, Goyal chaired a roundtable discussion with young CEOs and entrepreneurs of Indian origin in New York, which was organised by the Consulate General of India. During the interaction, young entrepreneurs articulated their views on the business landscape of India and provided suggestions for further reforms, he said.
“Addressing them Goyal spoke about the transformative reforms undertaken under the leadership of Prime Minister Modi, which has propelled India’s remarkable growth over the past decade,” he said. Goyal invited American companies to leverage India’s unmatched scale and take advantage of the ‘Make in India’ initiative, particularly in high-tech manufacturing and quality production.
In the course of his visit Goyal met Amneal Pharmaceuticals co-CEOs Chintu Patel and Chirag Patel, and discussed ways to enhance India’s pharmaceutical ecosystem for high-end R&D, including biologics, and improved manufacturing capabilities to establish a robust global supply chain.
“A productive meeting was held with Mr Henry R. Kravis, Co-Founder & Co-Executive Chairman of Kohlberg Kravis Roberts & Co (KKR). Minister Goyal highlighted potential investment opportunities in India’s electronics manufacturing, data infrastructure, and logistics sectors,” the official said.
In his meeting with Schwarzman, Goyal took note of the fact that the company has already invested about $50 billion in India and is one of the largest commercial and real estate investors in India, he said. The minister highlighted the potential for infrastructure development in India, wherein the emphasis of the Government is to develop quality infrastructure in the country for improving living standards, making it easier to do business and reducing logistics costs, he said.