Commerce and Industry Minister Piyush Goyal on Tuesday, 27 October 2026, held high-level meetings with top Dutch business leaders in the Netherlands, pitching India's semiconductor ambitions, green hydrogen potential, and expanding manufacturing base to a room of chief executives and board members. The engagements spanned a Business Leaders' Roundtable, bilateral meetings, and a joint address at the India-Netherlands Business Forum.

Semiconductor Push at the Centre

Goyal met Stefan Tilger, Interim CEO of Nexperia, to explore deeper collaboration in the semiconductor sector. He also held talks with Wayne Allan, Executive Vice President and Member of the Board of Management at ASML — the Dutch firm that makes the world's most advanced chip-making equipment — on expanding ASML's engagement with India. 'With a strong policy push in India, growing investments, and an expanding talent pool, we explored avenues for collaboration in cutting-edge semiconductor technologies, innovation, and skilling to strengthen India's position in the global chip value chain,' Goyal said in a post on X. This comes amid India's accelerating push to build a domestically anchored semiconductor ecosystem, backed by substantial government incentives under the India Semiconductor Mission.

IKEA, Green Hydrogen and Bilateral Scope

In a separate meeting with Juvencio Maeztu, CEO and President of Ingka Group (IKEA), the minister discussed how the Swedish-origin, Netherlands-headquartered retail giant could leverage India's manufacturing capabilities to strengthen its global sourcing network and deepen investments in the country. Goyal also met Occo Roelofsen, Founder and CEO of Power2X, to exchange views on India-Netherlands collaboration in green hydrogen, renewable energy, and emerging clean technologies.

Forum Address and Bilateral Potential

At the India-Netherlands Business Forum, Goyal addressed delegates alongside Sjoerd Sjoerdsma, Minister of Foreign Trade and Development Cooperation of the Netherlands. He highlighted the complementary strengths of the two economies — from semiconductors and green hydrogen to maritime cooperation, water management, and resilient infrastructure. 'India's scale, talent and dynamism, combined with Dutch expertise and innovation, offer a strong foundation for deepening our economic partnership,' Goyal said. He urged Dutch businesses and investors to translate 'our shared ambitions into growth and prosperity for both nations.'

Why the Netherlands Engagement Matters

The Netherlands is home to some of the world's most critical technology firms, with ASML alone commanding a near-monopoly in extreme ultraviolet (EUV) lithography machines — hardware without which advanced chips cannot be manufactured. India's ability to draw ASML into a meaningful collaboration, even at the skilling and innovation level, would mark a significant step in its semiconductor diplomacy. Notably, the engagement with Power2X also signals India's broadening of the bilateral relationship beyond traditional trade to emerging energy technologies, as both nations share clean energy transition commitments. The minister's outreach to CXOs across sectors reflects a coordinated effort to convert India's policy momentum — the semiconductor mission, production-linked incentives, and green hydrogen targets — into concrete foreign partnerships.

What to Watch Next

Follow-up engagement between ASML and Indian institutions, progress on any Nexperia joint-venture or investment announcement, and the trajectory of IKEA's India sourcing expansion will be the key indicators of whether Tuesday's roundtable translates into on-ground commitments. India's semiconductor ambitions remain a long-game — and Dutch partnerships could prove pivotal to that journey.