G20 Summit: Sitharaman Makes Strong Pitch for India as Global Investment Hub

Finance Minister Nirmala Sitharaman on Monday participated in the G20 Finance Ministers and Central Bank Governors meeting in Asheville, North Carolina, as global policymakers discussed ways to strengthen economic growth amid geopolitical tensions, trade disruptions and energy-security concerns.

Hosted by US Treasury Secretary Scott Bessent, the two-day meeting comes against the backdrop of conflicts in West Asia and Europe, volatile energy markets, rising sovereign debt and continuing trade tensions. The United States has placed global economic growth at the centre of this year's G20 Finance Track.

For India, the meeting provides an important platform to advance its priorities on energy security, international trade, resilient supply chains and investment. Geopolitical tensions in West Asia are particularly significant for New Delhi, as disruptions to energy supplies and higher crude prices could put pressure on inflation, the import bill, the current account and the rupee.

Alongside the G20 discussions, Sitharaman stepped up India's investment outreach through meetings with global business leaders. She met 3M Chairman and CEO William Brown to discuss expanding the US company's engagement with India in advanced manufacturing, technology, research and development and local supply chains. The discussions also covered data security and greater use of India's skilled talent pool. Sitharaman highlighted the potential for 3M to leverage India's manufacturing capabilities and workforce to serve the domestic market as well as wider global and Asia-Pacific supply chains.

She encouraged the company to explore greater investment in R&D, advanced manufacturing and local supply-chain development. However, no specific investment amount or fresh investment agreement with 3M has been announced in connection with the meeting. Sitharaman's wider engagements with investors and corporate leaders are aimed at strengthening India's position as a destination for capital, technology and manufacturing. Such efforts could help attract higher-value investments, strengthen domestic production and integrate Indian businesses into global supply networks.