By: Dr Avi Verma

Finance minister showcases India’s growth story, invites global companies to “Manufacture in India for India and for the world”

Union Finance and Corporate Affairs Minister Nirmala Sitharaman received an enthusiastic welcome from Chicago’s vibrant Indian-American community during her latest visit to the city, combining economic diplomacy, business outreach and engagement with the Indian diaspora.

The Chicago visit was part of Sitharaman’s official tour of Canada and the United States, where she engaged government officials, global investors, corporate leaders and members of the Indian community on India’s economic growth, investment opportunities and expanding global role.

It was Sitharaman’s second visit to Chicago, and her arrival generated considerable enthusiasm among members of the Indian diaspora. Representatives of the South Asian media were also present at the community interaction, including Dr. Avi Verma, Publisher of IndoUS Tribune.

India: A platform to build for the world

A major highlight of Sitharaman’s Chicago itinerary was a high-level business roundtable with leading investors and corporate executives. The discussions focused on India’s broad-based economic growth, reform momentum and opportunities for long-term investment.

A central theme was “Manufacture in India — for India and for the world.”

Sitharaman invited global companies to look beyond India merely as a large consumer market and instead consider the country as a platform from which to build products and businesses for global markets.

She highlighted opportunities across manufacturing, artificial intelligence and digital technology, financial services, infrastructure, food processing, defence and advanced technologies.

India, she said, offers a powerful combination of engineering talent, manufacturing capabilities, a large consumer base and an expanding technology and innovation ecosystem.

The minister encouraged international companies to co-develop, co-produce and manufacture in India for global markets, leveraging the country’s skilled workforce and growing industrial and technological capabilities.

Engagement with major U.S. companies

Sitharaman held a series of meetings with senior executives of major American corporations, discussing opportunities to deepen their investments and partnerships in India.

In her meeting with Mark S. Hoplamazian, President and CEO of Hyatt, Sitharaman discussed destination-led tourism, including spiritual, cultural, wellness, medical, nature and experiential tourism.

She encouraged Hyatt to expand partnerships with Indian developers and investors and explore talent-development opportunities through the National Institute of Hospitality. She also highlighted GIFT City as a potential financing and treasury hub for Hyatt’s growing Indian operations.

Sitharaman met Monish Patolawala, Executive Vice President and CFO of ADM, to discuss the company’s longstanding commitment to India and opportunities in agriculture, food, nutrition, technology and sustainable value chains.

She welcomed ADM’s growing partnerships with farmers and Farmer Producer Organisations and its development of global technology and artificial-intelligence capabilities in Bengaluru.

With Brandon Tseng, Co-founder and President of Shield AI, discussions centered on AI-enabled autonomy, unmanned systems and next-generation defence technologies.

Sitharaman emphasized India’s potential to become not only a major market for autonomous defence systems but also a global hub for their research, development, testing and manufacturing, supported by India’s technology talent and expanding innovation ecosystem.

She also met Luca Zaramella, EVP and COO of Mondelēz International, discussing the company’s growing Indian operations, manufacturing and infrastructure investments, and opportunities to expand production, sourcing, services and exports.

In her meeting with Sachin Lawande, President and CEO of Visteon Corporation, the focus was on India’s rapidly evolving automotive ecosystem, including electric vehicles, connected mobility, advanced automotive electronics and software-defined vehicles.

Sitharaman emphasized the importance of continued improvements in connectivity, digitalization and ease of doing business to facilitate greater investment and deeper integration of global companies into India’s growth story.

Message of confidence to the Indian diaspora

Addressing the Indian-American community in Chicago, Sitharaman outlined India’s economic resilience amid continuing global uncertainty.

She highlighted India’s ability to maintain approximately 7 percent GDP growth despite global economic headwinds and emphasized the role of strategic fiscal policies in supporting sustainable development.

Her address focused on India’s competitive advantages in a volatile global economy and the government’s vision of inclusive growth across sectors.

The minister’s interaction with the diaspora underscored the important role Indian-Americans play in strengthening economic, cultural and people-to-people ties between the two countries.

During the gathering, Sitharaman also felicitated former Deputy Chairperson of the Rajya Sabha Najma Heptulla, adding a special dimension to the community event.

Strengthening India-U.S. and India-Canada economic partnerships

Sitharaman’s North American tour also included important government-level engagements.

In Canada, she participated in the inaugural India-Canada Finance Ministers’ Economic and Financial Dialogue, discussing investment, financial-sector cooperation, FinTech, capital markets, cross-border payments and resilient supply chains.

Critical minerals emerged as an important area of cooperation, while both sides also reaffirmed ambitions to expand bilateral trade.

In the United States, Sitharaman met U.S. Treasury Secretary Scott Bessent on the sidelines of the G20 Finance Ministers and Central Bank Governors meeting in Asheville.

The two discussed the longstanding India-U.S. relationship and opportunities to deepen cooperation, particularly in critical minerals and resilient supply chains. Sitharaman invited Bessent to New Delhi later this year for the next Economic and Financial Partnership dialogue.

A growing economic bridge

Sitharaman’s Chicago visit highlighted the increasingly broad nature of India-U.S. economic engagement.

From manufacturing and AI to defence, tourism, food processing and automotive technology, India is positioning itself as a destination for long-term global investment and a platform for companies seeking to serve international markets.

For Chicago’s Indian-American community, the visit also reinforced the city’s importance as a major bridge between India and the United States.

The message emerging from Sitharaman’s engagements was unmistakable: India is not simply seeking companies to invest in its market—it wants global partners to build, innovate, manufacture and compete with India from India.