Union Budget 2023-24
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India – US relations have prospered into a comprehensive and resilient global strategic partnership based on mutual democratic values spurred by a significant convergence of interests on bilateral, regional, and global issues.

The ever-expanding canvas of their economic partnership between the two nations is broad-based and multi-sectoral encompassing trade and investment, defence and security, education, science and technology, pharmaceuticals and biotechnology, civil nuclear energy, environment, clean energy, space technology and applications, health, and research & development. This compelling cooperation between the two nations is evident as US is the 3rd largest FDI contributor to India.

    • India - US Ministerial 2+2 Dialogue was launched to provide a positive, forward-looking vision for the India - US strategic partnership and to promote synergy in their diplomatic and security efforts.

    • India - US Commercial Dialogue is set up to discuss trade and commerce relations and identify areas for closer collaboration between the two countries. The corresponding CEO Forum focuses on investments and business issues to promote a mutually beneficial business environment.

    • India-US Semiconductor Supply Chain and Innovation Partnership was established to enhance public and private efforts to promote industry cooperation and facilitate development of mutual synergies, complementary ecosystems and a diverse supply chain in the US and India semiconductor industries.

    • India-US Trade Policy Forum is a platform for continuous engagement between the two countries to further enhance bilateral trade and investment relations and serves as a mechanism to resolve any issues pertaining to trade or investments. 

    • US is the 3rd largest investor in India. Of the $59.1 bn which US has invested from April 2000 to December 2022.

    • Imports from US to India from April 2022 to February 2023 were valued at $46.8 Bn and exports to US were valued at $71.4 Bn

    • US is India’s largest trading partner and the largest export destination; India is the 9th largest trading partner of US. Bilateral trade stood at $131 Bn in 2022, largest annual volume of goods trade in India-US economic history. India-US have an ambitious target of achieving bilateral trade worth $500 Bn by 2025.

    • The 4 mn plus strong Indian American community is an important ethnic group in the US. Indian American community includes a large number of professionals, business entrepreneurs, and educationalists with increasing influence in society. Roughly, one-third of all immigrant focused startups in the US have Indian founders.

    • 40% of all Indians in US have master’s /doctorate / professional degree - 5x the national average. 60 Indian Americans were among 518 recipients of Congressional award in 2021

    • 2% of Fortune 500 Companies, including Microsoft, Alphabet are led by Indian Americans. Indian Americans have founded ~8% of high-technology US firms and 15% of Silicon Valley startups. 1st generation immigrants from India comprised 11% of founders of Top-50 AI startups in the US

Prominent Investments

US in India

Google

Google is a leading technology company with a presence across 50 countries. It set up office in India in 2003 with operations across Delhi, Hyderabad ...Read more

Microsoft Corporation

Leading technology company with 11,500 stores under 63 banners in 28 countries and e-commerce websites in 11 countries. It came to India in 1990 with ...Read more

Apple

Apple Inc designs, manufactures, and markets mobile communication, personal computers, and portable digital music players for stakeholders worldwide ...Read more

Amazon

Amazon, the world’s largest e-commerce marketplace, has announced its plan to invest $1 bn to digitally enable MSMEs and traders across India. There ...Read more

ExxonMobil

Exxon has offices in Bengaluru, Mumbai and NCR. ExxonMobil’s downstream business engages in the distribution, sales and marketing of Mobil - branded ...Read more

General Electric

One of the oldest MNCs in India with presence across sectors including IT, finance, energy and healthcare with strong capabilities in engineering, ...Read more

PepsiCo

PepsiCo, a multinational food, snack and beverage corporation headquartered in New York entered India in 1989. It has grown into one of the largest ...Read more

JP Morgan

One of the world’s oldest financial institutions, JP Morgan was built on the foundation of more than 1200 predecessor institutions. It has Global ...Read more

Johnson & Johnson

A multinational medical devices, pharmaceutical and consumer packaged goods manufacturing company, Johnson & Johnson has been present in the ...Read more

Blackstone

Blackstone Inc. is an American investment management company with an AUM of $880 billion and has 26 offices across the Americas, Europe and Asia. ...Read more

Honeywell

All of Honeywell’s global businesses have a strong legacy in India, built over the last eight decades. Honeywell operates three state-of-the-art ...Read more

India in US

Wipro

Wipro is an Indian IT services corporation headquartered in Bengaluru. Wipro has over 40 facilities across 23 US states. This includes Wipro’s four ...Read more

Tata Consultancy Services

Tata Consultancy Services is India’s largest IT company. It operates in 46 countries and has 285 offices across the world. TCS has committed to hire ...Read more

Infosys

Infosys Limited is an Indian multinational corporation that provides business consulting, information technology and outsourcing services. Infosys ...Read more

Tata Steel

Established in 1907, Tata Steel is among the top ten global steel companies in the world with an annual crude steel capacity of 33 mn tonnes per ...Read more

HCL Technologies

HCL Technologies is the 5th largest IT company in India. It has offices in 45 countries and commenced operations in the United States in 1989, in the ...Read more

Sun Pharma

Sun Pharma is the world's fourth largest specialty generic pharmaceutical company based in Mumbai. The Company entered the US market in 1996 and has ...Read more

Dr. Reddy's Laboratories

Dr. Reddy's Laboratories is an Indian multinational pharmaceutical company based in Hyderabad in India. Established in 1994, Reddy Therapeutics (US) ...Read more

Jubilant Life Sciences

Jubilant Life Sciences is a leading pharmaceutical company with customers in over 100 countries. Jubilant Life Sciences (USA) Inc. engages in the ...Read more

Essar Global Fund

Essar Global Fund Limited is a global investor, controlling assets diversified across the core sectors of energy, metals and mining, infrastructure ...Read more

Piramal Group

Piramal Group is a global business conglomerate with diverse interests in pharma, financial services, information management, real estate, and glass ...Read more

Mahindra & Mahindra

Mahindra & Mahindra Limited is an Indian multinational car manufacturing corporation established in 1945. It entered the American market as ...Read more
  • Automobile & Auto-Components

    Automobile & Auto-Components

    • #1

       

       Largest Two-wheeler Manufacturing Country  

    • #3

       Largest automotive market

    • #4

       Largest car manufacturing country

      • India aims to double its auto Industry size to INR 15 lakh Cr by 2024
      • Employs 35 Mn people both directly and indirectly
      • The EV market is expected to grow at a CAGR of 44% between 2020-2027 and hit 6.34 Mn-unit annual sales by 2027
    Visit Sector 3Investible Projects
  • Chemicals

    Chemicals

    • #3

      Largest consumer of polymers in the world

    • #4

       largest producer of agrochemicals in the world

    • #6

      Largest producer of chemicals in the world

      • The agrochemicals market in India is expected to reach $4.7 Bn by 2025
      • Indian Dye is exported to over 90+ countries
      • Supplies 16% of the global dyestuff and dye intermediates
    Visit Sector 28Investible Projects
  • Aerospace & Defence

    Aerospace & Defence

    • #2

      Largest armed force in the world

    • #3

      Largest defence budget in the world

    • 6%

      Budget allocated to R&D

      • Contributes 3.3% to global military expenditure
      • Exports worth $1.3 Bn to 68 countries
      • 60% of requirements met through imports 
    Visit Sector 5Investible Projects
  • Electronic Systems

    Electronic Systems

    • #1

       fastest-growing smartphone market in the Asia-Pacific  

    • #2

      Largest smartphone market

    • #5

       Largest consumer electronics and appliances Industry by 2025

      • Opportunities across electronics, technology and telecom sectors to reach $ 1 Tn by 2024
      • Projected CAGR of 16.6% during 2020-25
      • EDSM sector is expected to reach $220 Bn by 2025
    Visit Sector 11Investible Projects
  • Food Processing

    Food Processing

    • #1

       Largest producer, consumer and exporter of spices

    • #1 

      producer of Milk Globally

    • #2

      largest producer of tea and sugarcane

      • India’s food processing sector is one of the largest in the world and its output is expected to reach $535 Bn by 2025-26
      • Pradhan Mantri Kisan SAMPADA Yojana, a government scheme, was formulated for creating a modern infrastructure with efficient supply chain management from farm gate to retail outlet
    Visit Sector 76Investible Projects
  • IT & BPM

    IT & BPM

    • #1

      Largest market share in global services sourcing industry

    • 17,000+

      Firms and startups offering IT services

    • #1

       In digital skills readiness

      • In FY22, the Technology industry employed over 450,000 employees to reach total direct employment of 5 Mn and contributed 51% to overall services exports
      • Second highest number of internet subscribers in the world
      • Digital technologies business is the fastest growing segment for the industry at 30%
    Visit Sector 12Investible Projects
  • Retail & E-commerce

    Retail & E-commerce

    • #2

      Rank in Global Retail Development Index (GRDI),2021

    • #3

      Largest consumer economy by 2025

    • #5

      Largest preferred retail destination globally

      • Asia’s 3rd largest retail market and 4th largest globally
      • Consumption expenditure to reach $6 Tn by 2030
      • E-commerce market expected to reach $200 Bn by 2026
    Visit Sector 2Investible Projects
  • FinTech & Financial Services

    FinTech & Financial Services

    • #1

      Highest fintech adoption rate (87%) globally

    • $140 Bn 

      Transaction value estimated to reach in 2023

    • #3

      Largest FinTech ecosystem globally

      • Indian FinTech industry's market size is estimated at ~$ 150 Bn by 2025
      • Fintech sector in India is expected to be $1 Tn in Assets Under Management (AUM) 
      • Indian fintech market has received $29 Bn in funding across 2,084 deals to date (January 2017-July 2022), gaining 14% share of the global funding and ranked #2 on the deal volume
    Visit Sector

Recent Investments

Adobe

Adobe expands operations in India with new office tower in Bengaluru

Adobe announced the opening of an office tower in Bengaluru, which will house over 2,000 employees and is next to Adobe’s existing Prestige Platina Tech Park campus in Bengaluru.

Align

Align Technology opens Innovation Centre in Hyderabad

Align Technology, a medical device company that designs, manufactures, and sells the Invisalign system of clear aligners, intraoral scanners, and CAD/CAM software for digital orthodontics and restorative dentistry, announced the opening of its Align Innovation Centre (AIC) at Salarpuria Sattva Knowledge Park in Hyderabad.

UPS

UPS to invest $15-20 mn in technology centres in India, aims to hire 1,000 employees by end of 2025

UPS, a global shipping and logistics company announced that they are making investments to the tune of $15-20 million towards building new technology centres to India. The first centre to come up in Chennai and would be ready in 2023. 

Corning

SGD Pharma and Corning to construct US$60 mn Indian pharmaceutical glass packaging facility

Corning Incorporated is collaborating with SGD Pharma to set up a pharmaceutical glass packaging facility in Telangana state India. Both the companies will jointly invest INRs 500 crore to set up the facility, with first production scheduled for Q1 2025. The intended project has the potential to create nearly 150 jobs in the Mahabubnagar District of Telangana.

Bristol-Myers Squibb

Bristol-Myers Squibb to set up $100 million S&T Innovation Centre in Hyderabad

Bristol-Myers Squibb has decided to set up a science and technology innovation centre with an investment of $100 million in Hyderabad to expand its global drug development and digital innovation capabilities.

Boeing

Boeing announces logistics centre for aircraft parts in India

US aircraft manufacturer Boeing has unveiled plans to set up a new logistics centre in India ahead of a significant order from Tata Group-owned Air India. The new centre will focus on increasing the availability of spare parts to domestic air carriers, thereby reducing flight cancellations due to maintenance. Also, Boeing Set to build $200 Mn R&D Campus in Bengaluru.

Warburg Pincus

Warburg Pincus has agreed to invest $210 mn for a significant minority stake in Micro Life Sciences Private Limited

Warburg Pincus has agreed to invest $210 mn for a significant minority stake in Micro Life Sciences Private Limited, parent organization of Meril group of companies, India's largest medical devices company, both the companies said in a statement.

CPP

CPP Investments will invest about INR 2,650 crore into the JV to help acquire and develop projects

Canada Pension Plan Investment Board (CPP Investments) and Bengaluru-based RMZ Corp said they have formed a second joint venture to develop and own commercial office space in India. CPP Investments will invest about INR 2,650 crore into the JV to help acquire and develop projects.
 

Triton Electric Vehicle

Triton Electric Vehicle Pvt. Ltd. will invest INR 2,100 crore in Telangana

Triton Electric Vehicle Pvt. Ltd. will invest INR 2,100 crore in Telangana to set up its new manufacturing unit. Company will employ more than 25,000 persons and produce 50,000 vehicles over the first five years, including semi-trucks, sedans, luxury SUVs, and rickshaws.

MemryX Inc.

MemryX Inc. opens R&D center in Bangalore, India - advancing simple and scalable processing solutions for Edge AI

MemryX Inc., a pioneering startup focused on accelerating artificial intelligence (AI) processing for edge devices, announced today it has opened an engineering center in Bangalore, India.

Crane

Crane Inaugurates Its New Engineered Check Valves Facility in Satara, Maharashtra

Crane (NYSE CR) announced the inauguration of its new Engineered Check Valves factory in Satara, Maharashtra. The new facility holds direct employment for approximately 100 associates, who support the requirements of a variety of industries within the chemical processing, oil and gas, petrochemical, and energy sectors including renewable energy, and other emerging markets, such as hydrogen production.

Lam

Lam Research opens Centre for Engineering in Bengaluru for R&D in wafer fabrication hardware, software

Lam Research, a US-based semiconductor equipment provider, has opened a new India Centre for Engineering in Bengaluru to carry out research and development, engineering, and testing of wafer fabrication hardware and software used in the creation of memory components such as DRAM, NAND, and logic technologies.

Sanmina Corporation

US-based contract manufacturer Sanmina Corporation and Reliance Strategic Business Ventures Limited (RSBVL) have signed up for a joint venture

In a boost to electronics manufacturing in Tamil Nadu, US-based contract manufacturer Sanmina Corporation and Reliance Strategic Business Ventures Limited (RSBVL) have signed up for a joint venture. Under the JV, Mukesh Ambani's RSBVL will invest around Rs 1,670 Cr in Sanmina's existing Indian entity (Sanmina SCI India).
 

Microsoft has begun work on its largest and fourth data centre in India, in Hyderabad.

Microsoft has begun work on its largest and fourth data centre in India, in Hyderabad.

The US-based company will invest about INR 15,000 crore over the next 15 years to build the data centre.

Hines

Global real estate investment and development player, Hines

Global real estate investment and development player, Hines, has planned to scale up its India exposure with a plan to raise the India-dedicated fund worth $500 Mn in the next two quarters as part of its growth strategy. 

cion

US-based Cion Digital plans to invest INR %0 Cr in India

US-based SaaS blockchain orchestration platform Cion Digital said that it was setting up its first office and R&D center in Pune. The company will invest INR 50 Cr and plans to hire over 100 engineers with expertise in blockchain technology this year.

Google

Google will invest $ 1 bn in partnership with Airtel

Google will invest $ 1 bn in partnership with Airtel to improve connectivity in India with a special focus on 5G and affordable smartphones, the two companies said in a joint statement on Friday.

Blackstone Group Lp

Global asset manager Blackstone Group Lp has set up a logistics vertical 'Horizon Industrial Parks' in India

Global asset manager Blackstone Group Lp has set up a logistics vertical 'Horizon Industrial Parks' in India that will house its existing assets, and which will be scaled up through acquisitions and greenfield developments.

Blackstone Group's

Hiranandani Group and US-based private equity firm Blackstone Group's joint venture

Realty major Hiranandani Group and US-based private equity firm Blackstone Group's joint venture, GreenBase, is planning to invest over 3,000 Cr to develop industrial, logistics, and warehousing parks across key cities in India.
 

Thrasio

Boston based company Thrasio has announced its entry in India

Boston based company Thrasio has announced its entry into India by acquiring the majority stake in Gurugram-based consumer appliances brand, Lifelong Online
 

ii

San Francisco-based AI/ML cloud platform Abacus.AI plans to invest $50 Mn in India

San Francisco-based AI/ML cloud platform Abacus.AI has set up an R&D division in Mumbai and plans to invest $50 Mn in India over the next 3 years.

ii

Amway will be investing $20 Mn in India

American company Amway which sells brands like Nutrilite and Artistry in India will be investing 20 Mn in India out of its total 300 Mn global investment. The investment will be used in boosting research and development, manufacturing automation, innovation, and science and strengthen digital capabilities in India which is one of the key markets. 

ii

IDEX Corporation plans to expand its operations in India by investing INR 500 in Gujarat Cr

IDEX Corporation which is based in the US has announced its plans to expand its operations in India by investing INR 500 Cr in the next 5 years and is setting up a new factory at Sanand,Gujarat

ii

E-commerce-focused logistics firm Xpdel plans to invest around $50 Mn in India

E-commerce-focused logistics firm Xpdel plans to invest around $50 Mn to expand business in India covering deliveries in 60% of the country's geographical area.

Fintech firm Biz2Credit plans to invest $100 million in India

Fintech firm Biz2Credit plans to invest $100 Mn in India

Fintech firm Biz2Credit plans to invest $100 Mn in India over the next 5 years in research and development as well as expanding operations.
 

AFL Hyperscale

AFL Hyperscale and SASMOS HET Technologies collaborate to develop data centre products

Data centre network cabling and connectivity firm AFL Hyperscale and SASMOS HET Technologies have formed a strategic collaboration to offer enterprise data centre products for Indian customers. SASMOS HET established a fibre optic facility in Bengaluru as part of this partnership. With AFL’s global expertise, SASMOS will provide ‘Made in India’ products and engineering solutions.

Ohmium

Ohmium International launches India’s first green gigafactory

Ohmium International, a US-based renewable energy start-up, launched India’s first green hydrogen electrolyzer gigafactory at Bengaluru through its India subsidiary. The gigafactory will manufacture India-made Proton Exchange Membrane (PEM) hydrogen electrolyzers with an initial manufacturing capacity of about 500 MW per year and will scale it up to 2 GW per year.

Dana to invest $ 18 million in Switch Mobility for 1% stake

Dana to invest $ 18 million in Switch Mobility for 1% stake

Switch Mobility, with this agreement Dana becomes an important supplier to Switch, they will invest $ 18 million in the company, representing an approximate 1% stake. Dana will make a strategic investment of electric drivetrain components for the company’s e-bus and EV stake inverters, software and controls, and electronics cooling.

Yondr

Yondr enters JV with Everstone to invest in data centers

Yondr Group, a United States based data centre major has formed a Joint Venture with Singapore based Everstone to invest $1 bn to develop and operate data centres across multiple locations in India, including Mumbai Metropolitan Region, Hyderabad, Bangalore, Chennai and Delhi-National Capital Region. 

ii

Zenlayer plans to leverage $50 Mn for expansion of business

Cloud computing services firm Zenlayer plans to leverage $50 Mn that it closed recently for expansion of business in emerging markets, including India.

mcd

McDonald's restaurants is planning to invest INR 100 Cr in India

Westlife Development owned - McDonald's restaurants is planning to invest INR 100 Cr to open up to 30 outlets of the quick-service restaurant brand in the current financial year.

Cavli Wireless

Cavli Wireless partners GCT Semiconductor to manufacture LTE, 5G IoT modules in India

US-based Cavli Wireless has partnered with GCT Semiconductor, another US-based company, to license chipsets and manufacture LPWAN, LTE, and 5G IoT modules in India. It will be the first-ever wireless communication module to be designed and manufactured in India and will be used to power IoT applications.

Baxter Logo

Baxter to set up global R&D headquarters in Ahmedabad

Baxter, a United States-headquartered pharmaceutical giant, will invest around Rs 100 crore to set up its global research and development (R&D) headquarters in Ahmedabad

Massmutual

MassMutual invests in 1.50 lakh sq.ft. global capability centre (GCC) in Hyderabad

U.S. life insurer Massachusetts Mutual Life Insurance Company, also known as MassMutual, is setting up a 1.50 lakh sq.ft. global capability centre (GCC) in Hyderabad with an estimated investment of INR 1,000 crore.

salesforce

Salesforce’s first India investment is in cloud startup Darwinbox

Salesforce's venture arm is leading a $15 mn financing round for Darwinbox, a developer of human resources software that serves several of Asia’s largest tech startups. It is Salesforce's first investment in India and its only investment in Asia outside of Japan.

Tesla

Tesla registers its Indian entity in Bengaluru

Palo Alto-based electric vehicle manufacturer Tesla Inc has registered its Indian entity in the name of Tesla India Motors And Energy Private Limited in Bengaluru Karnataka

Honeywell

Honeywell invests in Trinity Mobility

Global technology company Honeywell announced a strategic investment in India-based software company Trinity Mobility Private Limited to expand its smart cities capabilities by providing access to Trinity’s Smart City solutions.

Amazon Web Services

Amazon Web Services invests in Telangana

Amazon Web Services to invest $2.77 bn in Telangana to set up its second data centre region in India. It will be operational by mid-2022.

Wistron

Wistron begins assembling iPhone SE in Karnataka facility

Wistron, Apple's Taiwanese manufacturer has commenced assembly of iPhone SE in its Bengaluru factory. Wistron has manufactured iPhone models 7, 6S and first-generation SE in its Indian factories. In May 2020, Wistron also announced plans to invest $165 mn to expand its Bengaluru facilities 

Microsoft to open a 4000-employee campus in Uttar Pradesh

Microsoft India in a virtual agreement has agreed to bring its next campus of 4,000 employees in Greater Noida.

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