Piyush Goyal invites US investors to invest in EVs, semiconductors, battery tech
Commerce and industry minister Piyush Goyal has sought investment from the US in sunrise sectors such as electric vehicles, semiconductors, and battery technology.
The minister is in the US on a three-day visit till January 11.
"India offers huge opportunities due to its large domestic consumption demand, democracy, rule of law, and transparent economy," said Goyal, addressing the Indian community at an event in New Jersey.
He urged the Indian community to take this message to the world that India is a trusted partner in the supply chain and investment portfolio. He also called the diaspora for promoting made-in-India products and presenting India's investment opportunities to investors in the US.
Goyal said transformational reforms that India witnessed over the last few years had made the country the world's fifth-largest economy.
The minister held discussions with CEOs of leading companies, including Michael Miebach, CEO of Mastercard; Henry R Kravis, Co-Founder and Co-Executive Chairman of Kohlberg Kravis Roberts & Co; Josh Silverman, CEO of e-commerce platform Etsy; Stephen A Schwarzman, CEO of asset management group Blackstone; and George R Oliver, CEO of Johnson Controls.
The CEOs expressed optimism at India's growth trajectory, said an official statement. The statement also said the minister had invited the companies to expand their presence in India.
"He invited the US industry to make use of the limitless opportunities in India especially in sunrise sectors such as EVs, semiconductors, battery technology, etc," it said.
Edited by Swetha Kannan