United States Ambassador to India Sergio Gor on Thursday said Indian companies have committed investments worth more than USD 20 billion in the United States during the annual Select Investment Summit, reflecting the growing economic partnership between the two countries.
Addressing the annual leadership summit of AMCHAM India in New Delhi, Gor said Indian firms are steadily expanding their business footprint across the American market.
“I was thrilled to see Indian companies committing more than $20 billion in investments in the United States at the annual Select Investment Summit,” he said.
The envoy added that the US Embassy in India ranked first globally in facilitating investment commitments into the United States.
Gor also highlighted the growing presence of American companies in India’s expanding consumer and industrial sectors.
Speaking about trade negotiations between the two countries, Sergio Gor said the interim trade agreement between India and the United States is in the final stages of discussions.
“President Trump’s goal is to facilitate bilateral trade in a way that creates lucrative opportunities for American businesses and workers. Our current interim trade agreement is on the table to be finalised, unlocking prosperity for both nations,” he said.
Meanwhile, Union Commerce and Industry Minister Piyush Goyal said an official US delegation is expected to visit India next month for further bilateral trade talks.
Speaking on the sidelines of the AMCHAM India Annual Leadership Summit, Goyal said discussions are progressing actively following meetings held between Indian and US officials in Washington DC in April.
The negotiations are aimed at finalising an interim trade pact while advancing discussions under the broader India-US Bilateral Trade Agreement framework.
When asked whether the chief US negotiator for the Bilateral Trade Agreement would accompany US Secretary of State Marco Rubio during his upcoming India visit, Goyal said the negotiator would travel separately next month.
Marco Rubio is scheduled to begin a four-day visit to India on May 23 to strengthen cooperation in trade, defence and energy sectors.
The current round of negotiations follows a joint statement issued by India and the United States on February 7, which laid the groundwork for an interim trade arrangement.
However, trade discussions later faced uncertainty after the Supreme Court of the United States struck down reciprocal tariffs imposed by the Trump administration.
Following the ruling, the US imposed a 10 per cent auxiliary duty on imports under Section 122 of the Trade Act for a 150-day period beginning February 24.
Washington also initiated investigations under Section 301 of the Trade Act into several exporting countries, including India, concerning industrial capacity and labour practices.
India has submitted responses to both investigations, while consultations between the two countries are continuing to resolve tariff and regulatory issues ahead of the proposed interim agreement.
-ANI
