Union Commerce and Industry Minister Piyush Goyal on Nov 12 positioned India as a reliable destination for global investment, emphasising intellectual property protection, policy stability and competitive operating costs.
Addressing the 31st Confederation of Indian Industry (CII) Partnership Summit in Visakhapatnam, Goyal said India respected intellectual property rights and would protect technologies belonging to foreign investors.
He invoked Kattappa, a character from the film Baahubali, to underline the importance of trust in international business partnerships.
“In a world full of Kattappas, India offers you a partner that will not stab you in the back,” he said.
The minister argued that reliability would increasingly influence investment decisions as geopolitical tensions disrupt global trade.
Goyal described trust as an increasingly scarce resource in international economic relationships.
He said businesses previously prioritised cost advantages but would increasingly assess the reliability of their investment partners.
According to the minister, India's predictable policies and legal framework offered stability amid international conflicts.
His comments came against the backdrop of concerns over technology security and restrictions on advanced semiconductor exports.
Reuters reported on Nov 11 that a Chinese university linked to the People's Liberation Army had obtained Nvidia H200 artificial intelligence chips despite US export restrictions.
However, Goyal did not directly refer to China or the reported semiconductor transaction during his remarks.
The minister said India had concluded nine free trade agreements over four years, covering economies with a combined gross domestic product of approximately $60 trillion.
He added that ongoing negotiations could eventually expand preferential market access to economies representing three-fourths of global output.
Goyal also highlighted India's manufacturing competitiveness, claiming that certain products and services could be developed at one-fifth or one-sixth of costs elsewhere.
He encouraged international companies to establish manufacturing facilities, research and development centres, global capability centres and design operations in India.
The minister also invited investment in hotels and data centres.
Goyal maintained that India's economic policies and business environment could provide investors with greater certainty during a period of global instability.
