Commerce and Industry Minister Piyush Goyal has held discussions with executives of semiconductor equipment maker ASML, chipmaker Nexperia, IKEA operator Ingka Group and clean-energy company Power2X, as India seeks to attract investment and expand cooperation with European businesses in technology, manufacturing and renewable energy.




The meetings took place during Goyal’s visit to the Netherlands, which included the India-Netherlands Business Forum in The Hague on Monday. The minister used the forum to pitch India as an investment destination, highlighting its growing consumer market, manufacturing capabilities and opportunities in emerging industries.




In a post on X, Goyal said his meeting with Wayne Allan, executive vice-president and member of ASML’s board of management, focused on advanced semiconductor technologies, innovation and skill development. “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.




Discussions with Stefan Tilgner, interim CEO of Nexperia, centred on expanding semiconductor cooperation. Goyal said India’s growing electronics manufacturing capabilities and technology ecosystem offered opportunities to strengthen partnerships and build more resilient supply chains.




Goyal also met Juvencio Maeztu, CEO and president of Ingka Group, which operates IKEA, to discuss manufacturing and sourcing opportunities. “Discussed opportunities offered by our growing consumer market & how IKEA can leverage India's manufacturing capabilities to strengthen its global sourcing network,” he said.




The minister’s meeting with Occo Roelofsen, founder and CEO of Power2X, focused on India-Netherlands cooperation in green hydrogen, renewable energy and emerging technologies.




Addiitonally, at the India-Netherlands Business Forum, Goyal called on European businesses to deepen their engagement with India and argued that companies needed fewer regulatory hurdles and simpler procedures. “The world wants deregulation. The world wants more freedom. The business world is looking for less compliance burden, simpler processes, simpler procedures, less paperwork,” he said.




Goyal also highlighted the investment potential of India’s expanding power capacity and growing clean-energy base, particularly for data centres and other energy-intensive industries. He said the sector could attract around $200 billion in investments over the coming years.




His remarks came amid a broader debate over the European Union’s regulatory framework and its Carbon Border Adjustment Mechanism (CBAM). Dutch mMinister for foreign trade and development cooperation Sjoerd Sjoerdsma defended regulations covering climate, product quality and safety, while saying rules that unnecessarily hinder trade should be reviewed.