India plans to take a large multi-sectoral business delegation to the United States, possibly in the first quarter of next year, Commerce and Industry Minister Piyush Goyal said, as he called for deeper engagement between Indian and American businesses.
Goyal made the remarks during an interaction with Indian-Americans at an event organised by the US Indian Community Foundation in Chicago after attending the G20 Trade Ministers’ Meeting in Milwaukee.
He said a large Indian business delegation had initially been planned as part of his current US visit but was dropped due to time constraints.
“In fact, even this trip I had planned a large business delegation. But due to shortage of time, I was busy in G20 until Thursday,” Goyal said.
The minister said the proposed business mission could now be held early next year.
“So we thought we will do that very soon, maybe in the first quarter of next year. We will have a very large Indian delegation, multi-sectoral come here,” he said.
Goyal also said India would look to increase its participation in trade fairs in the US and explore opportunities to hold more such events in Chicago and other parts of the country.
“Today one of the issues that came up was we should have more trade fairs in Chicago or other parts of America,” Goyal said.
“Then I was suggesting we should have greater participation in existing trade fairs from India. Both of which I am taking back and will positively implement,” he said.
“We will make sure Indians come in larger numbers and present what the India story is,” Goyal added.
Goyal spent Friday meeting American companies and investors after travelling from Milwaukee to Chicago.
“I had a privilege of interacting with some of the important business persons in this room just before I came here,” he said.
“Through the day I have been meeting businesses of different size, big and small, through US Chamber of Commerce. I have had several one-on-one meetings with large investors,” Goyal said.
The minister also offered government assistance to American companies and Indian-American entrepreneurs looking to invest in India.
“We have Invest India which will handle any investor who wants to do business in India,” Goyal said.
“The CG’s office will be happy to connect you to Invest India, to my ministry. Our officials will be happy to resolve any issues that any investor may face,” he added.
Addressing the wider community, Goyal urged Indian-Americans to participate in India’s economic expansion through investment, technology and knowledge.
He said India’s large domestic market and expanding international trade relationships offered opportunities for US-based businesses.
“The United States of America has capital strength, technology strength. India has ambition,” Goyal said, describing India as a young country with an aspirational population.
Goyal travelled to Chicago after representing India at the G20 Trade Ministers’ Meeting in Milwaukee, where ministers discussed issues including forced labour, the future of the World Trade Organization and state-supported excess production capacity.
India and the US have broad commercial ties spanning goods and services, technology, manufacturing and investment. The proposed multi-sectoral delegation is expected to provide another platform for companies from the two countries to explore investment and commercial partnerships.