Piyush Goyal courts US firms for investments across key sectors

Piyush Goyal held meetings with senior executives of leading US companies in New York this week.

Commerce and industry minister Piyush Goyal held meetings with senior executives of leading US companies in New York this week to discuss strengthening India-US trade and investment ties and invite them to explore opportunities in India, the commerce ministry said on Wednesday.

Goyal met Blackstone president and chief operating officer Jonathan Gray and chairman of Blackstone’s international private equity business Prakash Melwani to discuss expanding the company's investments and partnerships in India across key sectors.

He met Neuberger Berman chairman and chief executive George Walker and senior members of its leadership team. The discussions covered opportunities to deepen investment linkages and strengthen engagement in financial and wealth management services, the ministry said.

In a meeting with Estée Lauder Companies president and CEO Stéphane de La Faverie, Goyal discussed growth opportunities in India, including increased manufacturing and sourcing, as well as the country's growing beauty and personal care market.

Goyal met IBM chairman and CEO Arvind Krishna, with discussions focusing on further strengthening IBM's engagement in the country and expanding collaboration in artificial intelligence, cloud infrastructure, quantum computing and other emerging technologies.

In his meeting with MetLife president and CEO Michel A. Khalaf, discussions focused on the company's growth opportunities in the country and the expansion of the insurance and financial services sector.

Goyal also met General Atlantic chairman and CEO William E. Ford to discuss opportunities to further deepen the company's investment and business engagement with India.

Separately, Goyal met AIA Group non-executive chairman Mark Tucker. The discussions focused on AIA's engagement in India and opportunities in the insurance and financial services sectors, including in the context of India's vision of “Insurance for All by 2047”.

India-US business

The meetings provided an opportunity to discuss India's growth prospects and investment opportunities across financial services, manufacturing, energy, technology, artificial intelligence and other sectors, as well as ways to further strengthen India-US economic and commercial ties, the ministry said.

Bilateral trade between India and the US rose to $140.77 billion in fiscal year 2025-26 (FY26) from $132.14 billion in FY25, according to data from the Directorate General of Foreign Trade (DGFT). India’s exports to the US edged up to $87.31 billion from $86.51 billion, while imports rose to $53.45 billion from $45.63 billion. As a result, India’s trade surplus with the US narrowed to $33.86 billion from $40.89 billion.

India and the US began negotiations for a bilateral trade agreement in February 2025, when Prime Minister Narendra Modi and President Donald Trump formally announced the talks.

About the Author

Harsh Kumar is a policy reporter at Mint (HT Media Group), where he covers the Ministry of Commerce and Industry along with key departments of the Ministry of Finance, including the Department of Economic Affairs (DEA) and the Department of Financial Services (DFS). With over five years of experience in business and economic journalism, he has developed strong expertise in tracking policy developments and their wider economic impact.<br><br>He has previously worked with Business Standard, Moneycontrol, and Outlook Money, where he reported extensively on banking, financial services, and the broader economy. Over the years, he has built a reputation for delivering accurate, insightful, and impactful stories, supported by a keen eye for detail and a consistent track record of breaking exclusive news.<br><br>An alumnus of Jamia Millia Islamia, Harsh closely follows regulatory changes and key economic trends shaping India’s financial and industrial landscape. His reporting aims to simplify complex policy issues for a wider audience while maintaining depth and credibility.<br><br>Outside of work, he enjoys tracking policy developments, finding scoops, and travelling, reflecting his curiosity about how economic decisions shape everyday life.

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