India-US natural partners; ties built on trust, complementarity: Piyush Goyal
New Delhi, May 21
Union Minister of Commerce and Industry Piyush Goyal on Thursday said that India and the United States are emerging as "natural partners" with strong complementarities across key sectors including technology, defence, digital infrastructure, quantum computing and medical devices.
Addressing the Annual Leadership Summit of the American Chamber of Commerce in New Delhi, Minister Goyal said the partnership between the two countries is driven by mutual trust, shared economic interests and expanding investment flows.
According to the Ministry of Commerce & Industry, Goyal said recent commitments from American industry in the past six months are estimated at over 60 billion dollars, including large-scale data centre investments by companies such as Amazon and Google, reflecting growing confidence in India's economic ecosystem.
He said India offers a combination of scale, skilled talent and market opportunity supported by a strong digital and policy framework, adding that the country respects intellectual property rights and delivers high-quality outcomes for global partners.
"India and the United States have economies that complement each other with minimal competition, and when complementarity is combined with mutual trust, it creates an unbeatable combination," Goyal said.
He added that India's large consumer base of 1.4 billion people, rising incomes and expanding middle class are helping global companies scale innovation and demand.
Highlighting India's industrial strategy, Goyal said the government is developing 100 new industrial parks under the Bhavya scheme, designed to integrate manufacturing units with housing, recreation and social infrastructure to create holistic industrial ecosystems.
He also said initiatives such as Make in India, Startup India and Digital India have strengthened innovation, manufacturing and digital adoption across the country, contributing to long-term economic transformation.
"India is rapidly moving from an assembly-based model to becoming a centre for design, innovation and intellectual property creation," he said, adding that complex technologies can now be developed in India at significantly lower costs compared to developed economies.
Goyal noted that India currently hosts over 2,100 global capability centres employing more than 2.3 million people, generating nearly 98 billion dollars in revenue, reflecting the country's growing role in global value chains.
He further said India's renewable energy expansion and 5G rollout are strengthening infrastructure readiness for sectors such as data centres and advanced manufacturing, while also making India an attractive investment destination.
The Minister also highlighted the PM Gati Shakti initiative, describing it as a data-driven infrastructure planning model that integrates multiple layers of geospatial data to improve logistics, reduce delays and enhance efficiency in infrastructure development.
Referring to long-term economic goals, Goyal said India is on track to become a developed economy by 2047, with sustained reforms, infrastructure growth and expanding global partnerships expected to drive future growth.
— ANI
Reader Comments
As someone who works in tech in the US, I can confirm the synergy is real. Indian engineers and developers are driving innovation at my company. The move from "assembly to design" is exactly what I see happening - India is no longer just a back office, it's a powerhouse for intellectual property creation. Great to see this recognition!
I appreciate the optimism but let's be realistic. While the investments are welcome, we need to ensure they translate into real jobs for our youth. The 2,100 GCCs are great, but we must also focus on domestic manufacturing and MSMEs. Also, the IPR protection needs to be demonstrated more rigorously for sustained trust. Good speech, but execution matters more.
It's fascinating to see India's rapid transformation. I've been visiting for business for 15 years, and the change in infrastructure and digital adoption is staggering. The 5G rollout and renewable energy push are game-changers for data centre investments. India is truly becoming a hub for the future economy. Kudos to the leadership!
The Bhavya scheme for 100 integrated industrial parks sounds promising - finally moving beyond just factory floors to holistic ecosystems. But I hope the housing and social infrastructure mentioned includes proper schools and hospitals for workers' families. That's how you build a truly skilled and motivated workforce. Otherwise, it's just another real estate play. 🤔
"Developed economy by 2047" - I hope our political class keeps the reforms consistent
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