Union Minister of State for Commerce and Industry Jitin Prasada on Tuesday, 19 May 2026, called on global companies to move beyond treating India as a consumer destination and instead engage as long-term investment partners in the country's manufacturing and business ecosystem. He was addressing ASSOCHAM's India Business Reforms Summit 2026 in New Delhi.

India's Growth Is No Longer Metro-Led

Prasada stressed that India's economic transformation is no longer confined to its major cities. Smaller towns and rural regions are generating substantial domestic demand, making the country what he described as 'the biggest market.' 'India is changing bottom up as well. It's not only about our metros. So that's where we are the biggest market,' he said.

This bottom-up growth narrative aligns with a broader policy push to deepen economic activity beyond Tier-1 cities — a shift that has implications for consumer goods, logistics, and financial services companies eyeing India's next growth frontier.

What the Government Is Asking of Foreign Investors

The minister was direct in articulating the Centre's expectations from global capital. Rather than passive market access, the government wants investors to participate in India's production and value chains. 'Don't treat India as just a market. We want to partner with you. We want them to invest in India,' Prasada said.

He also emphasised the institutional foundations underpinning this pitch — rule of law, transparency, and equal treatment for all players. 'This government, India, we have a rule of law. There is transparency. And there's an equal footing for everybody. There is no shortcuts anymore,' he said, signalling a departure from the perception of regulatory unpredictability that had historically tempered foreign investor confidence.

FTAs and the MSME Growth Engine

Prasada highlighted recent free trade agreements (FTAs) as a structural enabler for Indian businesses, particularly micro, small and medium enterprises (MSMEs). He argued that these agreements have unlocked access to international markets at a scale previously unavailable to smaller Indian firms. 'These FTAs have opened up a market you can't imagine. And our MSMEs are going to be the growth engine,' he said.

This comes amid India's active pursuit of bilateral trade pacts with the United Kingdom, the European Union, and several other economies — deals that, if concluded, could meaningfully expand the export runway for India's MSME base, which accounts for a significant share of national employment and manufacturing output.

Infrastructure and Logistics as Competitiveness Levers

The minister also outlined the government's industrial strategy, centring on value addition, logistics upgrades, and export promotion. He specifically cited the Gati Shakti portal, the national logistics policy, and export promotion measures as tools accelerating India's transition into a global manufacturing hub.

'We want to add to the value chain. It's not only about manufacturing. It's about tangible results. Our Gati Shakti portal, the logistics policy, the export promotion policy, all those things coupled are ensuring that India is moving at such a rapid pace,' Prasada said.

With global supply chains continuing to diversify away from single-country dependence, India's window to capture a larger share of manufacturing investment remains open — but the execution of these policy instruments will determine how much of that opportunity is converted into verifiable outcomes.