31 August,2026 11:08 AM IST | New Delhi | mid-day online correspondent
Union Finance Minister Nirmala Sitharaman. File Picture.
Finance Minister Nirmala Sitharaman on Monday met American multinational technology and manufacturing company 3M Chairman and CEO William Brown and invited the firm to deepen its investments in research and development, advanced manufacturing and local supply-chain development in India, according to news agency IANS.
The Union Minister of Finance and Corporate Affairs pitched India as an increasingly important hub for technology, innovation and global manufacturing.
The Ministry of Finance in a social media post on platform X said the minister spoke to him on the sidelines of the G20 Finance Ministers and Central Bank Governors (FMCBG) meeting in Asheville, North Carolina, today.
"The Union Finance Minister acknowledged 3M's consistence confidence in India and suggested further for greater investment in R&D, advanced manufacturing and local supply-chain development," the Ministry said.
Sitharaman pointed out that there was considerable scope for 3M to expand localisation, R&D, and technology development in India by leveraging the country's talent and manufacturing capabilities. She added that regional innovation could help 3M serve not only the domestic market but also wider global and Asia-Pacific supply chains.
"With 3M's capabilities, there is considerable scope to deepen localisation, R&D and technology development in India, especially by leveraging Indian talent and manufacturing capabilities through regional innovation to serve both the domestic market and wider global and Asia-Pacific supply chains," Sitharaman said.
The discussions focused on ways to deepen the US multinational's engagement with India as the country evolves beyond being a large consumer market into a platform for advanced manufacturing, technology and innovation, the ministry said.
While acknowledging the support extended by the Indian government as part of its broader economic and structural reforms, Brown appreciated the availability of a deep talent pool in India and said there were significant opportunities for technology development as well as local markets, according to the ministry.
Besides, the discussions between the finance minster and Brown also revolved around data security and ways to optimise the engagement of India's talent pool within domestic enterprise ecosystems.
Sitharaman is currently on a six-day visit to US from August 29 to September 2 and she is participating in the G20 FMCBG meeting and associated engagements in Asheville over the next two days.
(With inputs from IANS)
