Nirmala Sitharaman Urges Global Investors to Expand Manufacturing and Innovation in India

Finance Minister Nirmala Sitharaman has called on international investors and global businesses to establish manufacturing facilities as well as technology and innovation centres in India, highlighting the country’s growing talent pool, infrastructure and investment opportunities. Addressing a high-level Business Roundtable with prominent investors and business leaders in Chicago, Sitharaman said India is increasingly positioned as a long-term base for companies looking to manufacture, develop technology and serve markets around the world. The meeting was organised by the Consulate General of India in Chicago in partnership with the US-India Strategic Partnership Forum.

Sitharaman said India’s investment appeal extends across multiple sectors and is supported by the combination of a large economy, sustained growth, skilled workforce, improving infrastructure, technological capabilities and continued economic reforms. She urged global companies to look beyond India as simply a consumer market and instead consider the country as a base for developing products and services for international markets. According to the minister, businesses can use India for manufacturing, research and innovation, infrastructure investment and technology development while benefiting from its engineering talent and expanding industrial ecosystem.

The central theme of the roundtable was “Manufacture in India – for India and for the world.” Discussions covered a wide range of sectors, including manufacturing, artificial intelligence, digital services, financial services, infrastructure, food processing, defence and advanced technologies. Sitharaman said changes in global supply chains and investment strategies are creating new opportunities for India. With companies reassessing where they manufacture products and deploy capital, she said India offers both a sizeable domestic market and an increasingly competitive environment for long-term business operations.

The Finance Minister also highlighted India’s Digital Public Infrastructure, pointing to platforms such as Aadhaar, UPI, DigiLocker, ONDC and India Stack. She said these systems have demonstrated how digital infrastructure can operate at a population-wide scale and provide a foundation for businesses developing higher-value services. According to Sitharaman, the next phase of opportunity lies in areas such as artificial intelligence, engineering, data analytics, product development, semiconductors and electronics. She also noted that India’s Global Capability Centres are increasingly evolving beyond traditional support functions and becoming important locations for global innovation and technology development.

Sitharaman further highlighted the growing role of GIFT City as an international financial centre. With 1,250 registered entities as of June 2026, the financial hub offers opportunities in banking, fund management, reinsurance, aircraft and ship leasing, sustainable finance and other cross-border financial services. She encouraged international institutions to explore GIFT City as a gateway to India’s wider financial ecosystem.

The minister also pointed to India’s expanding manufacturing capabilities. She said the country’s industrial ambitions are moving beyond basic assembly towards domestic component production, engineering and advanced technologies. Government measures, including production-linked incentive schemes, are being used to strengthen these capabilities and attract investment.

Infrastructure development is another area where Sitharaman sees significant scope for international participation. Projects involving dedicated freight corridors, railway modernisation, electrification and high-speed rail are creating demand for engineering expertise, specialised equipment, advanced materials, technology and long-term investment. She highlighted the National Investment and Infrastructure Fund as a platform through which international investors can participate in Indias infrastructure growth. Food processing was also identified as an emerging opportunity. Sitharaman said Indias large agricultural base, increasing household incomes and changing consumer preferences are generating demand for modern food-processing facilities, automation, packaging, logistics and cold-chain infrastructure. These investments, she said, could serve both the Indian market and international consumers.

In the defence and advanced technology sector, Sitharaman highlighted initiatives such as Atmanirbhar Bharat and iDEX, which aim to strengthen Indias domestic capabilities in areas including drones, autonomous systems and other emerging technologies. The Finance Minister is currently on a six-day visit to the United States. Her itinerary includes participation in the G20 Finance Ministers’ meeting in Asheville, North Carolina, followed by a visit to New York.

Her outreach to American investors comes as India seeks to strengthen its position as a global manufacturing, technology and investment destination. The government is increasingly pitching the country not only as a large consumer market but also as a platform from which multinational companies can develop, manufacture and export products and services worldwide.

Disclaimer: This image is taken from Business Standard.