Sitharaman pitches India as manufacturing hub to 3M CEO at G20
Synopsis
On the sidelines of the G20 Finance Ministers meeting in Asheville, Nirmala Sitharaman made a direct pitch to 3M's CEO to move beyond India as a consumer market and invest in R&D, advanced manufacturing, and Asia-Pacific supply chains — a signal of how aggressively New Delhi is courting US industrial giants as global supply chains redraw.
Key Takeaways
Finance Minister Nirmala Sitharaman met 3M Chairman and CEO William Brown on 31 August in Asheville, North Carolina .
The meeting was held on the sidelines of the G20 Finance Ministers and Central Bank Governors (FMCBG) meeting.
Sitharaman called on 3M to expand localisation, R&D, and advanced manufacturing investment in India.
William Brown acknowledged India's deep talent pool and the government's structural reform support.
Discussions also covered data security and optimising India's talent within domestic enterprise ecosystems.
Sitharaman argued India could help 3M serve broader Asia-Pacific supply chains, not just the domestic market.
Finance Minister Nirmala Sitharaman on Monday, 31 August urged US conglomerate 3M to significantly scale up its investments in research and development, advanced manufacturing, and local supply-chain development in India, framing the country as a rapidly maturing hub for technology, innovation, and global manufacturing. The meeting took place on the sidelines of the G20 Finance Ministers and Central Bank Governors (FMCBG) meeting in Asheville, North Carolina.
What Was Discussed
Sitharaman met 3M Chairman and CEO William Brown to explore ways to deepen the American multinational's engagement with India. According to the Ministry of Finance, discussions centred on India's evolution from a large consumer market into a platform for advanced manufacturing, technology, and innovation. The two sides also addressed data security and strategies to optimise the integration of India's talent pool within domestic enterprise ecosystems.
What 3M's CEO Said
Brown acknowledged the depth of India's talent pool and noted significant opportunities for technology development and local market growth. He also recognised the support extended by the Indian government through its broader economic and structural reform agenda, according to the ministry's account of the meeting.
India's Pitch: Localisation and Regional Innovation
Sitharaman highlighted considerable scope for 3M to expand localisation, R&D, and technology development in India by leveraging the country's engineering talent and manufacturing capabilities. She argued that regional innovation could position 3M to serve not only the Indian domestic market but also wider Asia-Pacific supply chains — a pitch that aligns with India's broader 'China-plus-one' manufacturing narrative gaining traction among global multinationals.
G20 Context and Diplomatic Backdrop
The bilateral meeting formed part of a series of engagements as Sitharaman participates in the G20 FMCBG meeting in Asheville over two days. She arrived at Greenville-Spartanburg International Airport in South Carolina earlier and was received by India's Ambassador to the United States, Vinay Mohan Kwatra. The ministry shared details of the meeting through a post on social media platform X. Notably, this outreach to a major US industrial conglomerate comes as India intensifies its foreign direct investment diplomacy ahead of a pivotal period for global supply-chain realignment.
Point of View
But the substance matters: India is now explicitly asking multinationals to treat it as a supply-chain node, not just a sales destination. The Asia-Pacific angle is the tell — New Delhi is positioning itself as the credible alternative to China-centric manufacturing, and using G20 sidelines as a deal-room. The real measure will be whether 3M's engagement deepens beyond goodwill into capital allocation, R&D headcount, and verifiable localisation — metrics that rarely make it into ministry press releases.
NationPress
31 Aug 2026
Frequently Asked Questions
Why did Nirmala Sitharaman meet 3M CEO William Brown?
Finance Minister Nirmala Sitharaman met 3M Chairman and CEO William Brown on 31 August on the sidelines of the G20 FMCBG meeting in Asheville, North Carolina, to pitch India as a hub for advanced manufacturing, R&D, and technology innovation. She urged 3M to deepen its investments in local supply chains and talent-driven development.
What did 3M CEO William Brown say about India?
William Brown acknowledged the availability of a deep talent pool in India and noted significant opportunities for technology development and local market growth. He also recognised the support extended by the Indian government as part of its broader economic and structural reforms, according to the Ministry of Finance.
What is the G20 FMCBG meeting in Asheville?
The G20 Finance Ministers and Central Bank Governors (FMCBG) meeting is a key forum where finance ministers and central bank heads of G20 nations coordinate on global economic policy. The August 2025 edition was held in Asheville, North Carolina, with Sitharaman representing India.
What areas did India pitch to 3M for investment?
India pitched 3M on expanding localisation, research and development, advanced manufacturing capabilities, and local supply-chain network development. Sitharaman also highlighted opportunities in data security and suggested 3M could use India as a base to serve Asia-Pacific supply chains.
Who received Finance Minister Sitharaman in the United States?
Sitharaman was received at Greenville-Spartanburg International Airport in South Carolina by India's Ambassador to the United States, Vinay Mohan Kwatra, ahead of her participation in the G20 FMCBG meeting in Asheville.
