Union Finance Minister Nirmala Sitharaman has called on global investors to look beyond India’s large domestic consumer market and consider the country as a manufacturing, technology and innovation base for the world.
Addressing a high level Business Roundtable with investors and business leaders in Chicago, Sitharaman highlighted India’s economic growth, reform momentum, skilled workforce, infrastructure development and expanding technology capabilities. The meeting focused on the theme Manufacture in India for India and for the world.
Sitharaman encouraged international companies to establish manufacturing facilities, technology centres and innovation hubs in India. She said global businesses could use India’s engineering talent, manufacturing capabilities and technology ecosystem to develop products and services not only for Indian consumers but also for international markets.
The Finance Minister said India’s investment potential should not be viewed through the lens of a single industry. According to her, the country’s appeal is based on a combination of market scale, economic growth, skilled talent, infrastructure, technology and policy reforms.
She also highlighted the changing global supply chain environment. As international companies reassess their manufacturing locations and capital allocation strategies, India is seeking to position itself as a long term investment and operating destination.
Sitharaman said the policy environment is increasingly focused on enabling businesses to invest, manufacture, innovate and expand. She invited global companies to collaborate with Indian businesses and institutions to co develop and co produce products for global markets.
The investment opportunities discussed at the meeting covered several sectors. These included manufacturing, artificial intelligence, digital technology, financial services, infrastructure, food processing, defence and advanced technologies.
Artificial intelligence and digital services were among the areas highlighted as having significant potential. India already has a large technology workforce, and the government is seeking to encourage the development of higher value activities such as engineering, analytics, product development and advanced technology services.
Semiconductors and electronics were also identified as important areas for future investment. India has been expanding its domestic electronics manufacturing ecosystem through policy support and production linked incentive programmes. Government data released in July 2026 showed significant growth in electronics production and exports, with the sector becoming an increasingly important part of India’s manufacturing ambitions.
Sitharaman also highlighted India’s Digital Public Infrastructure. Platforms such as Aadhaar, UPI, DigiLocker, ONDC and India Stack have created large scale digital systems that can support new businesses and services.
According to the Finance Minister, the next stage of growth could involve building higher value businesses around artificial intelligence, engineering, analytics, semiconductors, electronics and product development.
Global Capability Centres were another important part of the discussion. India has become a major location for multinational companies seeking engineering, technology, research and business services talent. Sitharaman said these centres are increasingly developing into global innovation hubs rather than operating only as support centres.
The Finance Minister also pointed to GIFT City as an emerging international financial centre. She said the facility could connect international capital with investment opportunities in India.
GIFT City offers opportunities in areas including banking, fund management, reinsurance, aircraft and ship leasing and sustainable finance. Sitharaman said global financial institutions could explore the centre as a gateway to India’s financial ecosystem.
Infrastructure was another major area highlighted during the meeting. India’s continuing infrastructure development, including freight corridors, railway modernisation, electrification and high speed rail projects, could create opportunities for global companies involved in engineering, specialised equipment, technology and long term investment.
The government is also seeking investment in food processing and related sectors. Sitharaman pointed to India’s agricultural base, growing incomes and changing consumption patterns as factors that could support expansion in food processing, packaging, logistics, automation and cold chain infrastructure.
Defence and advanced technologies were also included among the sectors with investment potential. The government has been promoting domestic capabilities in areas such as drones and autonomous systems through initiatives including Atmanirbhar Bharat and iDEX.
Sitharaman’s appeal comes at a time when companies around the world are reviewing their supply chains and looking for manufacturing locations that can serve multiple markets.
India is seeking to move beyond being a large consumer market and become a location where products are designed, developed, manufactured and exported.
The government has also been working to increase domestic value addition in manufacturing. In electronics, for example, policy initiatives have encouraged companies to expand production within India and develop supporting supply chains.
Recent government data showed that the Production Linked Incentive scheme for large scale electronics manufacturing had generated substantial investment, production and export growth by March 2026. The government said mobile manufacturing had expanded significantly and that India had moved from being a net importer of mobile phones to becoming a net exporter.
The broader objective is to strengthen manufacturing ecosystems rather than focus only on final assembly. This includes developing component manufacturing, engineering capabilities, technology and domestic supplier networks.
For international investors, India’s large domestic market remains an important attraction. However, the government is increasingly presenting the country as a production and innovation platform capable of serving customers around the world.
Sitharaman’s Chicago meeting was therefore focused on encouraging investors to establish a long term presence in India rather than viewing the country only as a market for selling finished products.
The Finance Minister said global companies could partner with Indian businesses to develop products and technologies for international markets.
The strategy also fits into India’s broader manufacturing and self reliance initiatives. The government has been promoting domestic manufacturing, technology development and supply chain expansion through multiple policy measures.
At the same time, global companies are increasingly looking for diversified supply chains. India’s large workforce, engineering talent and growing infrastructure could make it an attractive destination for companies seeking alternative or additional production bases.
The government’s pitch also emphasises the role of innovation. Rather than limiting investment to traditional manufacturing, India wants companies to establish research, development, technology and product engineering operations in the country.
This could potentially create opportunities for skilled employment and strengthen India’s position in higher value segments of global supply chains.
The Finance Minister’s message to investors was therefore broader than a conventional manufacturing proposal. It was an invitation to invest, manufacture, innovate and develop products in India for both domestic and international markets.
The success of this strategy will depend on factors including infrastructure, ease of doing business, policy stability, availability of skilled workers, supply chain efficiency and the ability of domestic industries to integrate with global companies.
India’s ability to expand component manufacturing and move into more advanced technologies will also be important.
The government has already taken steps to strengthen sectors such as electronics and semiconductors. In July 2026, the government announced further support under Semicon 2.0, aimed at accelerating chip design, semiconductor fabrication, advanced packaging and development of the wider semiconductor ecosystem.
Sitharaman’s latest investor outreach reflects the government’s continuing effort to attract international capital and deepen India’s role in global production networks.
For global companies, the message is that India can serve multiple purposes at the same time: a large consumer market, a manufacturing base, a technology centre, an innovation hub and a destination for long term infrastructure investment.
The Finance Minister’s appeal in Chicago is expected to add momentum to India’s efforts to attract investment across manufacturing and emerging technology sectors.
The central message remains clear: India wants international businesses not merely to sell products in the country, but to manufacture, innovate and build products in India for customers around the world.