Indian Commerce and Industry Minister Piyush Goyal has called on the Indian diaspora in the United States and American businesses to take a more active role in expanding economic and trade relations between the two countries.
Speaking at an event hosted by the US Indian Community Foundation in Chicago, Goyal praised the contributions of Indian Americans and emphasized the growing opportunities emerging from India’s economic transformation. He encouraged members of the diaspora to become partners in the country’s development by supporting investment, entrepreneurship and stronger commercial connections.
Goyal also met representatives of the Asian American Hotel Owners Association and the Asian American Store Owners Association. He recognized their contributions to the US economy and local communities and encouraged the organizations to explore opportunities to work with India while supporting entrepreneurship and broader trade cooperation.
The minister pointed to India’s large consumer market and expanding network of trade agreements as key advantages for international investors. He said India has entered into trade agreements with 38 developed economies in recent years, representing approximately $60 trillion in combined economic output. Including earlier agreements, he said India’s trade arrangements cover economies representing roughly $70 trillion in GDP.
According to Goyal, these agreements can provide Indian exporters with preferential or zero-duty access to international markets while helping the country become more closely connected to global supply chains.
He also promoted India as an attractive destination for data center investment, citing its expanding technology sector, electricity infrastructure and nationwide power grid. Government estimates have placed the potential investment opportunity in India’s data center industry at approximately $200 billion.
Addressing concerns about operating businesses in India, Goyal said the government has been working to streamline regulations and improve the ease of doing business. During his US trip, he held discussions with companies and industry groups about investment barriers, manufacturing, technology and supply-chain resilience.
Goyal’s Chicago meetings were part of his September 29 to October 5 visit to the United States. His itinerary also included the G20 Trade Ministers’ Meeting in Milwaukee and discussions with US manufacturers, technology companies, investors, startups and diaspora representatives in multiple cities.
The visit comes as India and the United States continue negotiations toward a bilateral trade agreement. Goyal has been engaging with his US counterpart on efforts to develop an interim arrangement and advance a broader agreement that both sides view as balanced and mutually beneficial.
