Union Finance Minister Nirmala Sitharaman met senior US business executives in Chicago on August 29, pitching India as a major destination for investment, manufacturing, technology development and global operations.
During a series of meetings, Sitharaman held discussions with executives from companies including Shield AI, Hyatt, Mondelez International, ADM and Visteon, covering sectors ranging from artificial intelligence and defence technology to hospitality, food processing and advanced manufacturing.
One of the key meetings was with Shield AI co-founder and president Brandon Tseng. Discussions focused on opportunities for cooperation in AI-enabled autonomous systems, unmanned platforms and next-generation defence technologies.
The two sides explored possibilities in research and development, technology development, co-development and co-production. Sitharaman highlighted India’s engineering talent, expanding defence-tech ecosystem and advanced manufacturing capabilities.
The Finance Minister said India has the potential to become not only a large market for advanced defence technologies but also a global hub for developing, testing and manufacturing autonomous defence systems.
In her meeting with Hyatt President and CEO Mark S. Hoplamazian, discussions focused on expanding the hospitality group’s presence in India as tourism and commercial activity grow across major cities as well as Tier-II and Tier-III centres.
Sitharaman highlighted opportunities in spiritual, cultural, wellness, medical and experiential tourism and also suggested exploring GIFT City as a financing and treasury hub for growing India operations.
She also met senior leadership from Mondelez International, where discussions covered opportunities to expand manufacturing, sourcing, services and exports from India. The Finance Minister pointed to regulatory simplification, digitalisation and improved infrastructure as factors supporting long-term foreign investment.
Talks with ADM focused on agriculture, food, nutrition, technology and sustainable value chains. India’s potential to serve as a global base for exports, technology and treasury functions was also discussed.
Sitharaman separately highlighted India’s broad economic growth, skilled workforce, improving infrastructure and technology ecosystem during a business roundtable in Chicago, urging global companies to “manufacture in India” for both the domestic and international markets.
Her US visit runs through September 2 and also includes participation in the G20 Finance Ministers and Central Bank Governors Meeting in Asheville, North Carolina, as well as engagements in New York.
source – Ministry of Finance
Supreme News Network
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