H1B visa era 'Thing of Past,' says Piyush Goyal, as India eyes new investment avenues

New Delhi [India], October 19 : Union Minister of Commerce and Industry, Piyush Goyal, declared that the H1B visa issue is now "a thing of the past" during a meeting at Vanijya Bhavan, New Delhi.
He emphasized that the topic would no longer be a point of discussion in international dialogues, marking a shift in focus towards other areas of economic and strategic partnerships.
Minister Goyal's recent visit to the United States included a two-day stay in New York, where he met with CEOs of major companies to discuss reforms initiated by the Modi government aimed at boosting foreign investments in India, particularly in the pharmaceutical and diamond sectors.
Surat, a prominent hub for the diamond industry, was highlighted as a key region for such investments. Goyal met around thirty business leaders who have already established ventures in India, signaling continued interest in expanding business operations in the country.
Following his engagements in New York, the Minister traveled to Washington, where he had a luncheon meeting with 17 CEOs from the CEO forum, including Tata Sons' top executive.
The discussions primarily centered on restructuring the forum, as the terms of several members are set to expire in December. Various Memorandums of Understanding (MoUs) were also signed during the visit, underscoring the commitment to deepening business ties.
The visit also involved meetings with Small and Medium-sized Enterprises (SMEs), think tanks, educators, and the Center for Strategic and International Studies (CSIS). Goyal described this visit as different from previous trips, noting that there were no "negative agendas" on the table, reflecting a more positive outlook towards Indo-U.S. relations.
Discussions extended beyond traditional sectors, covering potential partnerships in critical areas such as clean energy development, technology transfer, digital telecommunications, and defense.
Talks on biosciences have been ongoing, though Goyal noted that progress on biofuels was limited due to the upcoming U.S. elections.
There were also conversations around setting a stable exchange rate between the Indian rupee and the U.S. dollar, which could benefit bilateral trade.
Tourism and the development of the digital economy were also focal points during his meetings. Goyal's engagements at the CEO forum and with the CA forum aimed to showcase India's evolving business landscape and ongoing economic reforms, positioning the country as an attractive destination for global investment.