Piyush Goyal meets MKS PAMP CEO, explores deeper engagement in global precious metals ecosystem
New Delhi, July 2
Union Commerce and Industry Minister Piyush Goyal on Thursday held separate meetings with the heads of Swiss precious metals company MKS PAMP and Bengaluru-based startup Chara Technologies, discussing opportunities to strengthen India's manufacturing capabilities, innovation ecosystem and integration with global value chains.
In a post on X, Goyal said he met Marwan Shakarchi, CEO of MKS PAMP Group, to discuss India's role in the global precious metals industry.
Calling the interaction "productive", Goyal said the discussions focused on "deepening India's engagement in the global precious metals ecosystem, with emphasis on strengthening supply chain integrity and driving innovation in advanced refining capabilities and precious metals services."
The minister added that both sides also "explored opportunities for sustainable value creation and greater integration with global markets."
In a separate meeting, the Union Minister met Bhaktha Keshavachar, Founder and CEO of Chara Technologies, and praised the company's work on developing rare-earth-magnet-free electric motors.
"It was a pleasure meeting Mr. Bhaktha Keshavachar, Founder & CEO of Bengaluru-based Chara Tech, whom I had also recently interacted with at Bharat Innovates 2026 in Nice, France," Piyush Goyal said.
Highlighting the company's technology, Goyal added, "Their work on developing rare-earth-magnet-free electric motors is an excellent example of how Indian innovators are creating sustainable and globally relevant solutions, while strengthening the vision of a self-reliant India."
The meetings are part of the government's continued engagement with industry leaders and technology companies to promote innovation, strengthen manufacturing capabilities and expand India's participation in global supply chains.
— ANI
Reader Comments
The rare-earth-magnet-free electric motor from Chara Technologies is a game-changer. India needs more such indigenous innovations to reduce dependency on China for rare earths. Atmanirbhar Bharat in action! 💪
Interesting moves. India is clearly trying to build stronger ties with Swiss companies known for precision. But will this translate into tangible benefits for small traders and local jewelers? The supply chain talk sounds promising but we need details.
Bhai, MKS PAMP is a big name in precious metals! If India becomes a hub for refining and trading, it could stabilize gold prices here. But we need to ensure transparency—too much corruption in the gems and jewellery sector already. 😤
Commendable that our ministers are engaging with startups like Chara Technologies. Rare-earth-free motors could revolutionise EVs and reduce our import bill. More such meetings, less photo ops please. 🙏
Why is Piyush Goyal meeting Swiss companies now? We should first fix our own gold smuggling problems and GST issues in the bullion market. Global integration is fine, but internal reforms matter more. 😒
Finally, some forward-thinking steps! The precious metals industry
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