Finance Minister Nirmala Sitharaman met business leaders in the US across sectors ranging from agriculture and hospitality to artificial intelligence and advanced technologies, inviting them to explore opportunities to expand their operations and investments in India.
Sitharaman met Brandon Tseng, co-founder and president of Shield AI; Mark S. Hoplamazian, president and CEO of Hyatt; and Luca Zaramella, executive vice president and COO of Mondelez International, in Chicago on Friday.
She also met Monish Patolawala, executive vice president and CFO of Archer Daniels Midland (ADM), and Sachin Lawande, president and CEO of Visteon Corporation.
The meeting with Tseng focused on Shield AI’s engagement with India and opportunities to deepen cooperation in AI-enabled autonomy, unmanned systems and next-generation defence technologies, including research and development, technology development, co-development and co-production.
Discussions with Patolawala covered ADM’s long-standing commitment to India and opportunities to deepen its engagement across agriculture, food, nutrition, technology and sustainable value chains.
Sitharaman welcomed ADM’s investments in India, including its expanding partnerships with farmers, engagement with Farmer Producer Organisations and the establishment of its global technology and AI capabilities in Bengaluru.
The discussions also explored opportunities for India to serve as a global hub for ADM’s operations, including exports, technology and treasury functions. GIFT IFSC could offer opportunities to support the company’s international financial and treasury operations.
The meeting with Lawande focused on Visteon’s strong confidence in India’s growth prospects and the country’s expanding role as a key market and technology hub for the company.
Discussions with Hoplamazian covered Hyatt’s continued commitment to India and opportunities to further expand its presence as the country’s tourism and hospitality sector enters a new phase of growth.
Sitharaman highlighted India’s improving connectivity and infrastructure, which are opening up new tourism and commercial destinations, with tier-II and tier-III cities emerging as important centres of economic activity and travel.
She also suggested exploring opportunities for talent development through the National Institute of Hospitality, as well as the potential of GIFT City as a financing and treasury hub for Hyatt’s growing operations in India.
The meeting with Zaramella covered Mondelez International’s strong and expanding presence in India, its continued investments in manufacturing and infrastructure, and opportunities to further expand its production, sourcing, services and export footprint.
The minister highlighted the government’s continued efforts to improve the ease and cost of doing business through regulatory simplification, digitalisation and improved infrastructure. These measures, she said, are helping global companies deepen their long-term investments in India.
Sitharaman is on a six-day visit to the US and is scheduled to attend the G-20 Finance Ministers’ meeting in Asheville, North Carolina, and visit New York.
