Finance Minister Nirmala Sitharaman has urged global companies to establish manufacturing bases as well as technology and innovation centres in India, positioning the country as a platform to develop products and capabilities for global markets.
Speaking at a high-level business roundtable with investors and business leaders in Chicago on August 29, Sitharaman highlighted India’s broad-based economic growth, policy reforms, infrastructure development and expanding opportunities for long-term investment.
India as a Global Production Base
Sitharaman asked investors to look beyond India’s large domestic market and consider the country as a base for manufacturing, innovation, technology development and global expansion.
The central theme of the Chicago meeting was Manufacture in India for India and for the world, with opportunities discussed across manufacturing, AI and digital technology, infrastructure, food processing, defence, financial services and advanced technologies.
She said India’s investment proposition is supported by its market scale, skilled workforce, infrastructure, technology ecosystem and sustained reforms over the past decade.
As global companies reassess supply chains and capital allocation, Sitharaman said India can offer both a major consumer market and an increasingly capable long-term operating and production base.
Push for High Value Manufacturing
The Finance Minister said India’s manufacturing opportunity is moving beyond basic assembly towards deeper component production, engineering and advanced technologies.
Production-linked incentive schemes and other policy measures are supporting this shift, particularly as global supply chains undergo changes.
She also invited international companies to co-develop, co-produce and build in India for global markets, making greater use of the country’s engineering talent and manufacturing capabilities.
AI Semiconductors and Digital Technology
Sitharaman highlighted India’s Digital Public Infrastructure, including Aadhaar, UPI, DigiLocker, ONDC and India Stack, saying these systems have created digital platforms capable of operating at population scale.
She said the next opportunity lies in developing higher-value businesses in AI, engineering, analytics, product development, semiconductors and electronics.
India’s Global Capability Centres are also increasingly evolving from service-focused operations into global technology and innovation hubs.
GIFT City and Global Capital
Sitharaman also highlighted GIFT City as an emerging international financial centre connecting global capital with Indian opportunities.
According to the Finance Ministry, GIFT City had 1,250 registered entities as of June 2026, with opportunities across banking, fund management, reinsurance, aircraft and ship leasing, sustainable finance and other cross-border activities.
She encouraged global institutions to explore GIFT City as a gateway to India’s wider financial ecosystem.
Infrastructure and New Investment Opportunities
The Finance Minister pointed to India’s expanding infrastructure network as another major investment opportunity.
Dedicated freight corridors, railway modernisation, electrification and high-speed rail projects are creating demand across engineering, technology, materials and specialised equipment.
The National Investment and Infrastructure Fund also provides a platform for global investors to participate in India’s infrastructure development.
Food Processing and Advanced Technology
Sitharaman said India’s agricultural base, growing incomes and changing consumption patterns are creating opportunities in food processing, automation, packaging, logistics and cold-chain infrastructure.
She also highlighted India’s efforts to strengthen domestic capabilities in drones, autonomous systems and other advanced technologies through programmes such as Atmanirbhar Bharat and iDEX.
Sitharaman’s US Visit
Sitharaman is currently in the United States as part of her August 25 to September 2 Canada-US visit.
Her US schedule includes meetings with investors and business leaders in Chicago, participation in the G20 Finance Ministers and Central Bank Governors meeting in Asheville, North Carolina, and engagements with investors and financial-sector executives in New York.
The G20 Finance Ministers and Central Bank Governors meeting is scheduled for August 31 and September 1 under the US G20 presidency. India’s participation will focus on global economic growth, financial stability, international cooperation and emerging economic challenges.
