12 Indian businesses to invest $1.1 billion in US
The Indian companies investing in the US include Ahmadabad-based Abhyuday Group, Mumbai-based Sterlite Technologies and PR Jindal Group
Twelve Indian businesses announced $1.1 billion in investment in the US on Tuesday to help create jobs and build stronger supply chains, US ambassador to India and special envoy to South and Central Asia Sergio Gor said in a social media post.
Referring to investment commitments at a summit in Maryland, Gor said that investments flowing back into the US under the current administration are at record levels, and Indian companies plan to invest over $20.5 billion across various sectors, including technology, manufacturing, and pharmaceuticals.
“This includes the 12 Indian companies that announced $1.1 billion in investments just today! These partnerships are creating real American jobs and building stronger supply chains. Proof that when the world's largest democracies do business together, everyone wins,” Gor said on X.
The US's International Trade Administration said in another social media post that under secretary William Kimmitt joined the companies in announcing the news at the 2026 SelectUSA summit. “Today’s announcement reflects that the US-India economic relationship is entering a new phase—one defined by investment, industrial capacity, and technology partnership,” the agency said on Tuesday (US time), quoting Kimmitt.
The Indian companies investing in the US include Ahmadabad-based Abhyuday Group, Mumbai-based Sterlite Technologies and PR Jindal Group, The Economic Times reported, quoting PTI.
Mint's queries to the companies on Wednesday remained unanswered at the time of publishing.
India's foreign investment
The development indicates healthy outbound investment from India amid global uncertainties. According to the Reserve Bank of India's (RBI) data, outward foreign direct investment (OFDI) in March 2026 stood at $7 billion, up from $5.5 billion in the same month a year ago. This includes equity investments, loans and guarantees issued.
OFDI in February 2026 stood at $2.9 billion.
Indian businesses have a strong presence in the US market, especially in sectors such as IT, pharmaceuticals and textiles. The US is also the largest export market for India.
In February, India and the US agreed on a framework for an interim agreement on reciprocal trade and reaffirmed their commitment to broader bilateral trade talks.
That agreement entails India’s commitments to eliminate or reduce tariffs on a wide range of US goods. The two countries will significantly increase bilateral trade in technology products and expand joint technology cooperation, according to a fact sheet issued by the US mission in India.
Gor said, in another social media post, that US secretary of state Marco Rubio will visit India soon. “The US deeply values our growing partnership with India, and we are excited to build even stronger ties that will benefit both our nations and the world. See you soon, Mr. Secretary!” Gor said.