Mumbai August 18: India and the United States are entering a defining phase of their economic and strategic partnership, with bilateral investment increasing twelve-fold from $20 billion to $240 billion over the past two decades, US Ambassador to India Sergio Gor said at the Indo-American Chamber of Commerce National Convention 2026.
Addressing senior policymakers, business leaders and industry representatives, Ambassador Gor said the two countries had broken several records in bilateral trade and were now positioned to unlock a much larger economic opportunity. He underlined President Donald Trump’s trust in India and pointed to the scale of the American market as a major opportunity for Indian businesses seeking to expand globally.
The Ambassador also assured industry leaders that the US Embassy remained open to supporting deeper commercial engagement between the two countries. According to him, the decisions and collaborations initiated today and over the next few years would determine the direction of India-US relations for several decades.
Maharashtra Chief Minister Devendra Fadnavis, who attended the convention as Chief Guest, highlighted the need to convert the growing strategic alignment between India and the US into tangible investments, technology partnerships, manufacturing opportunities and employment generation.
“Maharashtra is a $660 billion economy, growing at about 10.2% CAGR for last seven years. About 69% of our youth is 27 years of age and roughly 50% is in K-12. If Maharashtra was a country, it would probably be in the top 20 countries in the world by its sheer economic promise. We are developing a 165-acre Medicity next to our airport, with the Cleveland Clinic having signed with us to become an anchor hospital in the venture,” the CM said.
With one of India’s strongest industrial and innovation ecosystems, Maharashtra is expected to play a central role in the next phase of India-US economic engagement. The state offers significant opportunities across advanced manufacturing, digital technology, infrastructure, financial services, clean energy and emerging industries.
The convention, themed Redefining the India–US Comprehensive Strategic Partnership, brought together government leaders, diplomats and corporate decision-makers to explore opportunities across trade, investment, technology, agriculture, infrastructure, healthcare, cybersecurity and resilient supply chains.
IACC National President Anup Acharya said the timing of the convention was particularly significant as the bilateral relationship had evolved far beyond the traditional boundaries of diplomacy and trade. The partnership, he said, was now anchored in shared democratic values, converging strategic interests and unprecedented cooperation across defence, energy, education, technology and innovation.
Acharya highlighted the expanding scope of collaboration across semiconductors, space, critical minerals, clean energy, artificial intelligence and advanced manufacturing, while emphasising that Indian industry would have a vital role in shaping the future of the relationship.
Raghavendra Ponkshe, Regional Director–West, IACC, said the combination of Indian intellectual and industrial capabilities with American investment and global reach could create enormous opportunities for both countries. He identified Maharashtra’s industrial depth and innovation-driven economy as major strengths that could help the state lead this new phase of bilateral cooperation.
Ponkshe added that, after more than five decades of building bridges between the two business communities, IACC’s priority was to translate the relationship into greater trade, investment, technology collaboration and business opportunities on both sides.
The Uttar Pradesh government also presented the state’s investment and export potential at the convention. Dinesh Pratap Singh, Minister of State (Independent Charge) for Horticulture, Agricultural Marketing, Agricultural Foreign Trade and Agricultural Exports, said Uttar Pradesh’s size and population made it an economy of global significance.
He highlighted the state government’s focus on religious tourism, aviation connectivity and export infrastructure, and assured IACC of Uttar Pradesh’s support for initiatives aimed at expanding India-US cooperation across sectors.
The inaugural session was also attended by Awanish Awasthi, Advisor to the Uttar Pradesh Chief Minister, and Alok Kumar, Principal Secretary, IT & Electronics.
The day-long convention featured five focused 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.
Senior representatives from AT&T, Wipro, Medtronic India, JB Pharma, P.D. Hinduja Hospital, JSW Group, Tata International and Orient Technologies participated in the discussions.
By bringing the US Ambassador, senior Indian policymakers and leading businesses onto a common platform, the convention sought to move the India-US partnership beyond strategic intent and towards measurable outcomes in investment, resilient supply chains, technology collaboration and employment generation.
During the inaugural session, Chief Minister Fadnavis and Ambassador Gor also felicitated former IACC presidents and office-bearers for their contribution to the chamber, which was established in 1968.