Piyush Goyal Meets Warburg Pincus, Blackstone; Seeks Investments

Commerce and Industry Minister Piyush Goyal held meetings with global private equity firms Warburg Pincus and Blackstone in New York. Goyal discussed investment opportunities in India.

New York: Commerce and Industry Minister Piyush Goyal on Tuesday held bilateral meetings with global private equity firms Warburg Pincus and Blackstone here to discuss investment opportunities in India in sectors like electronics and renewable energy.

At the invitation of United States Secretary of Commerce Gina Raimondo, Goyal is in the US till October 3, 2024. He will co-chair with Raimondo the India-USA CEO Forum on October 2, and the 6th India-USA Commercial Dialogue on October 3 in Washington D.C.

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

"We explored new ideas and collaboration opportunities in sectors such as renewable energy, data infrastructure and R&D," he said. He also met Stephen A Schwarzman, Chairman, CEO and Co-Founder of Blackstone, and discussed the company's future investment plans as India continues its exponential growth trajectory.

"Invited them to explore opportunities in sectors like infrastructure, housing and renewable energy, among others," Goyal said, adding he also held deliberations with Henry R Kravis, Co-Founder and Co-Executive Chairman of global investment firm Kohlberg Kravis Roberts & Co. (KKR).

During that meeting, he emphasised upon the potential investment avenues for the firm in India's electronics manufacturing, data infrastructure and logistics sectors.

"Also, highlighted how the country's consistent economic growth over the past decade and large consumer market offer a multitude of opportunities for its strategic investments," he added.

The minister invited American companies with expertise in high-tech manufacturing to 'Make In India' for the world. The US is the largest trading partner of India. The bilateral trade was USD 120 billion in 2023-24. India is also one of the major recipients of foreign direct investment from the US. The country received USD 67 billion between April 2000 and June 2024.

The minister said that he held talks with Robert Goldstein, Chief Operating Officer and Senior Managing Director of leading global investment firm BlackRock.

"We explored exciting collaboration opportunities to position India as a global leader. Additionally, we discussed how BlackRock's global expertise can be leveraged to significantly transform investment ecosystem in India to usher in greater ease of doing business for our people," he said.