Piyush Goyal meets Warburg Pincus and Blackstone; looking for investment

The minister invited American companies specializing in the production of advanced technologies to “Make In India” on a global scale. | File photo

2 minutes of reading Last update: October 1, 2024 | 19:08 IST

Trade and Industry Minister Piyush Goyal on Tuesday held bilateral meetings with global private equity firm Warburg Pincus and global investment firm Blackstone to discuss investment opportunities in India in sectors such as electronics and renewable energy.

At the invitation of US Secretary of Commerce Gina Raimondo, Goyal is in the US until October 3, 2024. He will co-chair with Raimondo the India-US CEO Forum on October 2 and the 6th India-US Trade Dialogue on October 3 in Washington, DC

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In a series of posts on social media platform X, Goyal said he met Timothy F. Geithner, CEO, Warburg Pincus and discussed the efforts made by India towards ease of market entry, ease of doing business, single window clearances and industrial infrastructure.

“We explored new ideas and opportunities for collaboration in sectors such as renewable energy, data infrastructure and research and development,” he said.

He also met Stephen A Schwarzman, Chairman, CEO and Co-Founder of Blackstone, and discussed the company’s future investment plans in the context of India’s continued exponential growth.

“I have invited them to explore opportunities in sectors such as infrastructure, housing and renewable energy, among others,” Goyal said, adding that he also held talks with Henry R. Kravis, co-founder and co-executive chairman of global investment firm Kohlberg Kravis Roberts & Co (KKR) .

During this meeting, he highlighted the company’s potential investment opportunities in the Indian electronics manufacturing, data infrastructure and logistics sectors.

“It was also highlighted that the country’s steady economic growth over the past decade and large consumer market offer many opportunities for strategic investments,” he added.

The minister invited American companies specializing in the production of advanced technologies to “Make In India” on a global scale.

The US is India’s largest trading partner. In 2023-24, bilateral trade was $120 billion. India is also one of the main recipients of foreign direct investment from the US. Between April 2000 and June 2024, the country received $67 billion.

First publication: October 1, 2024 | 19:07 IST