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Piyush Goyal meets Ernst & Young CEO to discuss India’s role in global supply chains
Talks focus on GCC opportunities and investment as India strengthens appeal
NEW DELHI: India’s global ambitions appear to be gaining fresh momentum, with supply chains and investment opportunities taking centre stage in a high-level meeting between government and industry leaders.
Union commerce and industry minister Piyush Goyal met Janet Truncale, global chair and chief executive of Ernst & Young, to discuss India’s expanding role in global supply chains and the growing opportunities emerging from Global Capability Centres (GCCs).
Sharing details of the meeting on social media, Goyal said the discussions focused on India’s increasing importance in global manufacturing and services networks, as well as the country’s attractiveness as an investment destination.
The talks come at a time when multinational companies are increasingly looking to diversify supply chains and expand operations in fast-growing markets. India has emerged as a key beneficiary of this trend, driven by its large talent pool, digital infrastructure and policy reforms aimed at boosting ease of doing business.
GCCs, which house critical functions such as technology, finance, research and operations for multinational corporations, have become one of India’s fastest-growing business segments. Industry experts expect the sector to continue attracting significant global investment as companies seek efficient and innovation-driven operating hubs.
The meeting also explored investment opportunities across sectors, with both sides discussing India’s strong economic growth trajectory. According to Goyal, India’s sustained growth momentum and business-friendly environment are helping position the country as a preferred destination for global investors.
The minister’s engagement with EY comes amid broader efforts by the government to strengthen India’s position in global value chains and attract long-term foreign investment.
Earlier this week, while addressing the Global Ambassadors Meet organised by the Pharmaceutical Export Promotion Council on the sidelines of IPHEX 2025, Goyal highlighted the rapid growth of India’s pharmaceutical industry, projecting that the sector could double in size from its current value of around $60 billion over the next five years.
The minister outlined what he described as the three pillars underpinning India’s pharmaceutical success: trust, innovation and scale. He noted that India supplies nearly 65-70 per cent of the world’s vaccine requirements through the World Health Organization network and hosts the largest number of manufacturing plants approved by the US Food and Drug Administration outside the United States.
He also pointed to rising patent filings and government-backed initiatives aimed at encouraging domestic innovation, including the Biopharma Shakti programme and a multi-billion-dollar innovation fund designed to support emerging sectors.
As India continues to strengthen its manufacturing, technology and innovation capabilities, meetings such as these underline the country’s growing influence in global business conversations and its ambitions to become an increasingly important link in the world’s economic chain.
