US Ambassador to India, Sergio Gor, has lauded Indian companies for their substantial investments in the United States, totaling over $20 billion. Speaking at the Indo-American Chamber of Commerce (IACC), Gor highlighted that the US Embassy in India secured the top position among participating countries at the annual SelectUSA summit, a testament to the robust economic engagement.
Indian Companies Drive US Economic Growth
Gor emphasized the mutual benefits of this investment, stating, "When Indian companies invest in America, it's a win-win situation. You gain access to the world's most dynamic market, and you create jobs back home in India and in the United States." He noted that nearly 70% of IACC members are Indian companies, with more than 1,400 members already having invested in the US or partnered with American firms.
Several Indian enterprises were singled out for their contributions:
- Sundaram Clayton, part of the TVS Group, expanded its investment in South Carolina to $200 million, generating 230 jobs.
- Hyderabad-based pharmaceutical giants Natco Pharma and Aurobindo Pharma broadened their operations in New Jersey, Puerto Rico, and other locations.
- The Roots Group invested $10 million in Alabama, hiring over 30 Americans for its manufacturing operations.
A Call for Deeper Commitment
Assuming his role in January, Ambassador Gor urged more Indian companies contemplating overseas expansion to choose the US. "If you're weighing your next overseas investment, choose the United States. Bring your Greenfield project, your R&D center, your manufacturing line to American soil and let my team help you get there," he appealed. He also encouraged existing investors to deepen their commitment, citing the US's scale, stability, innovation, and supportive ecosystem.
Bolstering Bilateral Trade and Strategic Partnership
Gor highlighted the remarkable growth in bilateral trade between India and the US, which has soared from approximately $20 billion to over $240 billion in just two decades. Both nations aim to achieve $500 billion in bilateral trade by 2030, collaborating across critical sectors like AI, technology, aerospace, defense, and energy.
The ambassador noted that the US and India are actively working to integrate value chains, accelerate breakthroughs in critical technologies, and enhance supply chain resilience. He also referenced a "trust initiative" launched by President Trump and Prime Minister Narendra Modi, focusing on cooperation in AI, quantum computing, semiconductors, defense, and critical minerals. This initiative has seen major US tech firms like Amazon, Microsoft, and Google commit billions to investments in India.
The US currently sources about 40% of its generic pharmaceuticals from India, a clear indicator of the trust underpinning the relationship. Gor articulated his vision for the future: "to build on that legacy and make the US-India relationship that will define the strategic partnership of the 21st century."