India - US bilateral relations have developed into a Comprehensive Global Strategic Partnership, based on shared democratic values and increasing convergence of interests on bilateral, regional, and global issues.
The bilateral cooperation between the two nations is broad-based and multi-sectoral, covering trade and investment, defence and security, education, science and technology, cybersecurity, high-technology, civil nuclear energy, space technology and applications, clean energy, environment, agriculture and health. This strong cooperation between the two countries is evident as US is one of the top FDI contributors. There was 44% increase recorded in FDI equity inflow from the US during the FY 2020-21 compared to FY 2019-20.
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.
US - India State Spotlight Webinar Series was launched to raise industry awareness of key economic policy developments in both countries and gather feedback from stakeholders. The objective is to disseminate information on the regulations for Doing Business to the Private Sectors of both countries.
During the third India - US Ministerial 2+2 Ministerial Dialogue, 5 agreements were signed including Basic Exchange and Cooperation Agreement (BECA) between the respective defence ministries and an agreement for Electronic Exchange of Customs Data between the Postal Operators. Other MoUs and agreements for cooperation in the energy healthcare sectors were signed.
The US is the 3rd largest investor in India, having invested $45.55 bn between April 2000 and June 2021. This represents 8.3% of the total FDI into India during this period.
Imports from the US to India from April 2019 to March 2020 were valued at $35.8 bn and exports were valued at $53 bn.
US energy exports are an important area of growth in the trade relationship. India started importing crude and LNG from the U.S. from 2017 and 2018 respectively. Bilateral hydrocarbon trade reached US$ 9.2 billion during 2019-20, a 93% increase since 2017-18.
The 3.5 mn plus strong Indian American community is an important ethnic group in the US, accounting for about 1% of the total population in the country. Indian American community includes a large number of professionals, business entrepreneurs, and educationalists with increasing influence in society.
The number of Indians and Indian Americans in the U.S. is estimated at over 4 million. It includes a large number of professionals, entrepreneurs and educationists with considerable and increasing influence in U.S. polity, economy and the society. They are a big stakeholder in India-U.S. relations having significantly contributed to the growth and development of the U.S. economy and fostering people to-people ties.
The total number of Indian students in the United States has more than doubled over the last decade, from 81,000 in 2008 to a record high of 196,000 in 2018. Last year, Indian students enrolled at U.S. colleges and universities contributed over $8 billion to the U.S. economy.
The US side appreciated India for its Energy Access drive and commitment to achieve 450 GW of RE by 2030. They also lauded India for electrifying 28.02 million homes in 18 months and achieved universal household electrification.
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 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.
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 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.
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, 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
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'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.
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
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 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, 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 India in a virtual agreement has agreed to bring its next campus of 4,000 employees in Greater Noida.
Google has announced that it is setting up a research lab focused on artificial intelligence (AI) and its applications in India. Google's Bengaluru based AI lab will focus on the advancement of Computer Science research in India, wherein it will focus on Machine Learning, Computer Vision, Languages, Speech, Systems
US online retail giant Amazon has invested INR 2,800 cr into its Indian operations to expand its presence within the country. It has invested in Amazon Seller Services which helps sellers establish an online presence.
PepsiCo will invest $ 70 mn in a food manufacturing plant in Uttar Pradesh as part of its capacity expansion plans in the packaged foods market in India. PepsiCo will invest with its local bottling partner Varun Beverages leading towards a boost in manufacturing capacity and upgrade of cold storage facilities.
Global card payments major Master Card will be investing $ 1 bn in India with the objective of establishing India as a global technology node. The investment will expand India's presence in technical services required for card payments.
Intel Corporation, the world's biggest chip-maker has invested INR 1,100 cr in a design house in Bengaluru. This facility known as the 'SRR4', will lead development across hardware and software.
Leading technology innovator Qualcomm will be investing $ 400 mn for development of a campus in Hyderabad, which will be its 2nd largest campus globally. This centre will lead R&D in electronics and semiconductors industry.
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The World's Most Innovative Investment Promotion Agency Award 2021 awarded by OCO Global
United Nations Conference on Trade and Development (UNCTAD) Investment Promotion Award 2020 for best practices in COVID response
Best Investment Project Award five years in a row - 2016 to 2020 at the Annual Investment Meeting (AIM) organized by the Ministry of Economy, UAE.
Great Place to Work Certification by GPTW Survey 2019
The UNCTAD Award 2018 for promoting investment in sustainable development
Great Place to Work Certification by GPTW Survey 2018
Investment Award 2016 from the Indian Ocean Rim Association (IORA)
United Nations Conference on Trade and Development (UNCTAD) Investment Promotion Award 2016 for excellence in partnering for investment promotion