Nirmala Sitharaman Urges Global Investment in Indian Manufacturing

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman addressed a high-level Business Roundtable in Chicago on August 29, 2026, to promote the "Manufacture in India -- for India and for the world" initiative. She urged international investors to establish manufacturing facilities, technology centers, and innovation hubs in India to serve both domestic and international markets.

Sitharaman identified semiconductors, electronics, AI, analytics, defense, and food processing as high-value sectors for development. She cited India's macroeconomic resilience, deep talent pool, and Digital Public Infrastructure—specifically UPI and Aadhaar—as primary drivers of the country's economic appeal. The Minister emphasized the role of the Production Linked Incentive scheme in transitioning the industry from basic assembly toward advanced component production and engineering within global supply chains.

Additionally, Sitharaman promoted GIFT City as an international financial hub, noting that GIFT IFSC had 1,250 registered entities as of June 2026. She invited investment into the National Investment and Infrastructure Fund to support freight corridors and railway modernization. The event was co-organized by the Consulate General of India in Chicago and the US-India Strategic Partnership Forum.