Union Commerce and Industry Minister Piyush Goyal met Claude Smadja, Chairman of Smadja & Smadja, on the sidelines of the India Global Innovation Connect 2026 on Thursday, 11 June 2026, using the high-profile forum to make a direct pitch for foreign investment into India's manufacturing and innovation sectors.

Context

Minister Goyal described the meeting as an 'engaging interaction', during which he highlighted the Modi government's efforts across three broad areas: infrastructure development, strengthening India's position in global supply chains, and improving ease of doing business. He also underscored the scale of opportunities India presents to international investors at this moment.

Claude Smadja chairs the Geneva-based advisory firm Smadja & Smadja, which organises high-level forums on global economic trends and facilitates business linkages between international capital and emerging markets. His engagement with a senior Indian minister signals continued interest from global strategic advisers in India's economic trajectory.

Policy Backdrop

The minister specifically cited Make in India — the flagship initiative launched in September 2014 — as a cornerstone of India's investment appeal, pointing to a 'thriving manufacturing ecosystem' and 'business-friendly reforms' as key draws for global capital. The scheme was designed to transform India into a global manufacturing hub and attract foreign direct investment across 25 sectors.

Since 2014, the government has pursued a consistent agenda of liberalising FDI norms, simplifying labour laws and taxation, and rolling out Production Linked Incentive (PLI) schemes from 2020 onwards across sectors including electronics and pharmaceuticals. These measures have gained additional relevance as multinational firms seek to diversify supply chains beyond China under the widely discussed China+1 strategy.

Ease of doing business reforms — spanning regulatory simplification at both central and state levels — have been a running theme of India's economic diplomacy, and Goyal's remarks at the India Global Innovation Connect 2026 reiterate that this remains a live priority for the government.

Stakeholders and Impact

The forum brings together international business leaders, investors and policymakers to discuss innovation, technology and investment opportunities in India. The primary beneficiaries of sustained foreign investment flows are manufacturing firms, MSME exporters, and the broader ecosystem of suppliers integrated into global value chains.

For global investors, India's combination of a large domestic market, a young workforce, and improving infrastructure presents a compelling case — particularly as geopolitical pressures accelerate supply-chain diversification. Goyal's direct engagement with an influential strategic advisory chairman like Smadja is aimed at converting that interest into committed capital.

What's Next

Analysts will watch for follow-up announcements on FDI policy adjustments or fresh PLI allocations in upcoming Union Budget cycles, as well as the participation of similar international delegations at marquee investment forums such as the Vibrant Gujarat Summit and the India Economic Summit. The government's ability to translate high-level diplomatic engagements into measurable investment commitments will be the key metric by which the India Global Innovation Connect's outcomes are judged.