Piyush Goyal to travel to US later this month for G20 talks, says ambassador Sergio Gor

Union Commerce and Industry Minister Piyush Goyal is set to visit the United States later this month for discussions related to the Group of Twenty (G20) summit, according to US Ambassador to India Sergio Gor. Speaking during the 66th Annual Session of the Automotive Component Manufacturers Association of India (ACMA) in New Delhi, Gor confirmed that Goyal’s trip will take place in the coming weeks, coinciding with the US hosting the G20 meetings. This marks another step in the deepening economic ties between India and the United States. Gor emphasized the collaborative efforts between the two nations, particularly in building a trade relationship that is fair and mutually beneficial. During his remarks, he noted that the two governments are actively working on refining their trade policies to ensure equitable opportunities for businesses in both countries. He specifically mentioned that Goyal’s visit aims to further strengthen this partnership, especially as the G20 summit approaches. The minister’s attendance in the US will focus on advancing dialogue around key economic issues, including trade agreements and investment frameworks. In addition to trade, Gor highlighted the importance of fostering technological collaboration between the two countries. He referenced the recently signed Pax Silica Declaration, which facilitates cross-border investments and supports innovation. According to the ambassador, this agreement will enable American and Indian companies to expand their operations more easily, creating opportunities for the next generation of entrepreneurs and industry leaders in both nations. The declaration is part of broader efforts to enhance cooperation in critical technologies, a priority area for both governments. Gor also underscored the significance of Indian investment in the United States, citing several prominent companies such as Bharat Forge, Sundaram Clayton, and Mahindra as examples of successful ventures. These firms have established manufacturing facilities in the US, contributing to bilateral economic growth. The US Embassy in India has played a leading role in promoting such investments, with a notable achievement of securing $24 billion in new foreign direct investment from India into the US over recent years. The ambassador also called upon Indian automotive component manufacturers to participate in the upcoming SelectUSA Investment Summit in May, which will be held near Washington, DC. This initiative aims to attract more business partnerships and highlight the potential for continued expansion of Indian enterprises in the US market. Additionally, Gor pointed to growing American investment in India, noting that Ford has committed $370 million to modernize its Chennai plant to produce next-generation engines for global markets. Other major players such as Cummins, BorgWarner, Tenneco, and Dana are also active within India’s automotive manufacturing sector. Gor reiterated the shared commitment between the US and India to promote open markets and competitive environments for businesses on both sides. He stressed that the goal is to create conditions where companies can operate freely and benefit from each other’s markets. This includes ensuring that Indian firms can compete fairly in the US while allowing American suppliers and technologies to enter the Indian market seamlessly. Such measures are intended to reinforce the strategic alignment between the two economies. Looking ahead, the anticipated visit by Piyush Goyal to the US is expected to serve as a platform for deeper negotiations and policy coordination ahead of the G20 summit. With ongoing discussions on trade, investment, and technology cooperation, the meeting is likely to yield tangible outcomes that reflect the evolving partnership between India and the United States. As preparations for the summit intensify, the focus remains on strengthening mutual interests and addressing common challenges through sustained collaboration.