Indian companies have pledged to invest a record $20.5 billion in the United States, which includes $19.1 billion in pharmaceuticals, the US embassy said on Wednesday.
The commitments were made during an investment summit in Maryland, US.
According to the US embassy, the commitments span key sectors including pharmaceuticals, advanced manufacturing, energy infrastructure, and emerging technologies, and are expected to create thousands of jobs in both countries while expanding US production and joint innovation capacity.
The US embassy statement quoted Ambassador Sergio Gor saying, “I am proud to advance our goal to double US-India bilateral trade to $500 billion by 2030. Through fair, balanced, and mutually beneficial trade, we’re attracting world-class investment to the United States and creating shared prosperity for both nations.”
It said that a significant share of the investment is driven by India’s pharmaceutical sector, with more than $19.1 billion in planned investments in US manufacturing, research and development, and new facilities. Read more
Source: Indian Express