Union Commerce and Industry Minister Piyush Goyal on Thursday said India and the United States are working as “natural partners” with growing cooperation across sectors such as technology innovation, defence manufacturing, digital infrastructure, quantum computing and medical devices.
Addressing the Annual Leadership Summit of the American Chamber of Commerce in New Delhi, Goyal said the India-US partnership is being strengthened by mutual trust and complementary economic strengths.
The minister said commitments from American industry over the last six months are estimated to exceed 60 billion dollars, including major data centre investments by companies like Amazon and Google.
“America is looking for a trusted partner and India has consistently demonstrated respect for intellectual property rights while delivering high-quality output on time,” Goyal said. He added that India combines scale, talent and market opportunities in a manner unmatched globally.
Highlighting India’s economic outlook, Goyal expressed confidence that the country would continue to remain the world’s fastest-growing economy for at least the next 25 years. He said improved infrastructure, lower logistics costs and free trade agreements are creating a strong cycle of investment, manufacturing growth and export competitiveness.
The minister also spoke about the government’s industrial development strategy under the proposed Bhavya scheme, aimed at creating 100 industrial parks across the country. According to him, the model seeks to integrate industrial infrastructure with housing, recreation and social amenities for workers.
Referring to the role of MSMEs in global trade, Goyal said the proposed Export Promotion Mission would help smaller businesses obtain internationally recognised certifications needed to become part of global supply chains.
“He said agencies such as the Export Inspection Council, Bureau of Indian Standards and FSSAI are working together to build world-class testing and quality infrastructure across India,” the release stated.
Speaking on India’s manufacturing transformation, Goyal said the country is moving away from an “assemble in India” model towards becoming a centre for design, innovation and intellectual property creation. He noted that innovations developed in India can often be achieved at a fraction of the cost compared to developed economies.
The minister further said India is emerging as a preferred destination for Global Capability Centres (GCCs). According to him, India currently hosts 2,117 GCCs employing around 2.35 million people directly and generating nearly 98 billion dollars in revenue.
Highlighting India’s digital growth, Goyal said the country has witnessed one of the world’s fastest 5G rollouts while maintaining among the lowest data costs globally. He also pointed to rapid growth in renewable energy, noting that India’s solar power capacity has increased from less than two gigawatts to more than 150 gigawatts in under 12 years.
On infrastructure, Goyal described PM Gati Shakti as a transformative initiative that integrates nearly 1,800 layers of geospatial and infrastructure-related data to improve planning and execution of highways, railways, ports and logistics networks.
Referring to the vision of Viksit Bharat 2047, the minister said India aims to become a developed nation with a projected per capita income of 20,000 dollars by 2047. He urged businesses and investors to recognise India’s long-term growth potential and participate in the country’s economic transformation.
