India and the United States are entering a new phase of economic and strategic cooperation, with bilateral investment rising twelve-fold to $240 billion from $20 billion over the past two decades, U.S. Ambassador to India Sergio Gor said at the Indo-American Chamber of Commerce (IACC) National Convention 2026 in Mumbai.
Addressing policymakers, diplomats and business leaders, Gor said India and the U.S. had crossed several milestones in bilateral trade and were positioned to expand economic engagement further. He pointed to the scale of the U.S. market as a major opportunity for Indian companies seeking international growth and said the U.S. Embassy remained committed to supporting stronger commercial ties.
Gor also said decisions being taken by businesses and governments in the current period could influence the direction of India-U.S. relations for decades. He highlighted the importance of continued engagement between the two countries as cooperation expands beyond conventional trade and investment.
Maharashtra Chief Minister Devendra Fadnavis, who attended the convention as chief guest, said the growing strategic alignment needed to translate into investments, technology partnerships, manufacturing opportunities and jobs.
“Maharashtra is a $660 billion economy, growing at about 10.2% CAGR for last seven years,” Fadnavis said. He added that about 69% of the state’s population is below 27 years of age, while roughly half is in K-12 education.
Fadnavis also highlighted Maharashtra’s plans to build a 165-acre Medicity near its airport, with Cleveland Clinic expected to serve as an anchor hospital. The project, he said, reflected the state’s ambition to build capabilities in healthcare alongside its established industrial and technology base.
Maharashtra is expected to remain an important destination for U.S. investment as the bilateral relationship expands into advanced manufacturing, digital technology, infrastructure, financial services, clean energy and emerging technologies. The state’s industrial base, talent pool and concentration of financial and technology businesses provide a platform for companies looking to establish or expand operations in India.
The convention, themed “Redefining the India–US Comprehensive Strategic Partnership,” focused on how the relationship could evolve across trade, investment, technology, agriculture, infrastructure, healthcare, cybersecurity and supply chains.
IACC National President Anup Acharya said the bilateral relationship had moved beyond traditional diplomacy and trade and was increasingly shaped by shared strategic interests and cooperation in areas including defence, energy, education, technology and innovation.
Acharya identified semiconductors, space, critical minerals, clean energy, artificial intelligence and advanced manufacturing as areas where cooperation could expand further. He also stressed the role of Indian businesses in shaping the next stage of the partnership.
Raghavendra Ponkshe, regional director–West at IACC, said combining India’s intellectual and industrial capabilities with U.S. capital, technology and global market access could create opportunities for companies in both countries.
He pointed to Maharashtra’s industrial depth and innovation-led economy as potential advantages in attracting investment and building cross-border partnerships. Ponkshe said that after more than five decades of facilitating business ties, IACC’s focus was increasingly on converting the relationship into measurable gains in trade, investment, technology cooperation and business opportunities.
The convention also brought Uttar Pradesh into the discussion, with state officials presenting its investment and export potential to American businesses. Dinesh Pratap Singh, Minister of State (Independent Charge) for Horticulture, Agricultural Marketing, Agricultural Foreign Trade and Agricultural Exports, said the state’s population and economic scale gave it significance for global investors.
Singh highlighted opportunities linked to religious tourism, aviation connectivity and export infrastructure and said the Uttar Pradesh government would support initiatives aimed at expanding India-U.S. cooperation.
The inaugural session was attended by Awanish Awasthi, advisor to the Uttar Pradesh chief minister, and Alok Kumar, principal secretary for IT and Electronics.
The day-long convention featured five sessions covering pharmaceuticals, healthcare and life sciences; investment opportunities in Uttar Pradesh; artificial intelligence infrastructure and cyber defence; critical minerals and technology supply chains; and women-led enterprise, innovation and growth.
Executives and senior representatives from companies including AT&T (NYSE: T), Wipro (NYSE: WIT), Medtronic (NYSE: MDT), JB Chemicals & Pharmaceuticals (NSE: JBCHEPHARM), JSW Group, Tata International and Orient Technologies (NSE: ORIENTTECH) participated in the discussions.
The focus on semiconductors, AI infrastructure, critical minerals and resilient supply chains reflects a broader shift in India-U.S. economic engagement. Both countries are seeking to strengthen supply chains in strategic technologies while encouraging private-sector investment and reducing vulnerabilities associated with concentrated production networks.
For Indian companies, the U.S. remains a major market for technology, pharmaceuticals, manufacturing and services. For American businesses, India offers a large consumer market, engineering and technology talent, manufacturing capacity and opportunities created by expanding digital and physical infrastructure.
The discussions in Mumbai therefore came at a time when commercial ties are increasingly intertwined with strategic priorities. Investment decisions in sectors such as semiconductors, healthcare, clean energy, cybersecurity and advanced manufacturing could determine how deeply the two economies become integrated over the coming decade.
By bringing together the U.S. ambassador, Indian state and central government representatives and corporate leaders, the IACC convention sought to shift the conversation from strategic alignment to practical outcomes. The emphasis was on attracting investment, creating jobs, building resilient supply chains and expanding technology partnerships.
During the inaugural session, Fadnavis and Gor also felicitated former IACC presidents and office-bearers for their contribution to the chamber, which was established in 1968. The recognition underscored the organization’s longstanding role in facilitating commercial engagement between Indian and American businesses.
