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Union Minister for Finance and Corporate Affairs Nirmala Sitharaman met 3M Chairman and Chief Executive Officer William Brown on Monday on the sidelines of the G20 Finance Ministers and Central Bank Governors (FMCBG) meeting in Asheville, North Carolina, with discussions focusing on deepening the multinational company's engagement with India.
The Ministry of Finance said on X that the high-level talks centred on India's evolution beyond a large consumer base into an increasingly important platform for advanced manufacturing, technology, and innovation. The engagement formed part of the Union Finance Minister's schedule during her participation in the G20 and associated meetings in Asheville. During the dialogue, both sides assessed crucial institutional priorities, touching upon matters surrounding data security and the optimal engagement of the domestic talent pool within enterprise ecosystems. The Ministry noted that Brown appreciated the availability of the deep talent pool in the country, acknowledging the role of policy measures in enabling operations. "There are many opportunities present for development of technology, as well as local markets," the 3M Chairman and CEO noted during the meeting, while acknowledging the deep support extended by the Government of India as part of wider economic and structural reforms. Reviewing the company's long-standing footprint, Sitharaman highlighted potential areas where industrial collaboration could scale up further across global value networks. "With 3M's capabilities, there is considerable scope to deepen localisation, R&D and technology development in India," the Union Finance Minister said. She added that this growth could be achieved "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." The Union Finance Minister acknowledged 3M's consistent confidence in the Indian economy and suggested avenues for further expansion. She called for greater investment directed toward research and development, advanced manufacturing capabilities, and the development of local supply-chain networks. The bilateral interaction took place shortly after the Union Finance Minister arrived at the Greenville-Spartanburg International Airport in South Carolina, where she received a welcome from India's Ambassador to the United States, Vinay Mohan Kwatra. Sitharaman arrived in the region to attend the G20 FMCBG gathering and related engagements scheduled over two days in Asheville. Sitharaman is in Chicago as part of an official nine-day visit to Canada and the US from August 25 to September 2. The US leg began on August 28. US goods and services (exports plus imports) trade with India totalled an estimated USD 239.6 billion in 2025, up 12.1 per cent (USD 25.8 billion) from 2024. US goods trade (exports plus imports) with India totalled an estimated USD 149.1 billion in 2025. US goods exports to India in 2025 were USD 45.4 billion, up 9.1 per cent (USD 3.8 billion) from 2024. US goods imports from India totalled USD 103.8 billion in 2025, up 18.9 per cent (USD 16.5 billion) from 2024. The US goods trade deficit with India was USD 58.4 billion in 2025, a 27.8 per cent increase (USD 12.7 billion) over 2024. (ANI)
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