FM Sitharaman meets US CEOs, pitches India as global hub for AI, agriculture and hospitality investments

Finance Minister Nirmala Sitharaman met business leaders in the US in sectors ranging from agriculture to artificial intelligence and invited them to explore opportunities in India as a hub for global operations.

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.

The finance minister also met Monish Patolawala, executive vice president and CFO of Archer Daniels Midland (ADM); and Sachin Lawande, president and CEO of Visteon Corporation.

The discussions 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 R&D, technology development, co-development and co-production.

The discussions with Patolawala covered ADM’s long-standing commitment to India and significant opportunities to deepen its engagement across agriculture, food, nutrition, technology and sustainable value chains.

Sitharaman welcomed ADM’s investments in India, including its growing farmer partnerships, engagement with Farmer Producer Organisations and establishment of its global technology and AI capabilities in Bengaluru.

The discussions also covered opportunities for India to serve as a global hub for ADM’s operations, including exports, technology and treasury functions, with GIFT IFSC offering potential opportunities for international financial and treasury operations.

The discussions with Lawande covered Visteon’s strong confidence in India’s growth prospects and its expanding role as a key market and technology hub for the company.

The 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 is opening up new tourism and commercial destinations, with tier-II and tier-III cities emerging as important centres of economic activity and travel.

The finance minister suggested exploring opportunities for talent development through the National Institute of Hospitality and GIFT City as a potential financing and treasury hub for Hyatt’s growing India operations.

The discussions with Zaramella covered Mondelez International’s strong and growing presence in India, 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 focus on improving the ease and cost of doing business through regulatory simplification, digitalisation and better infrastructure, enabling global companies to 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 in North Carolina and visit New York.