New Delhi, 16 July 2024: The American Chamber of Commerce in India (AMCHAM India), the only U.S. industry chamber has announced the US-India Partnership Summit 2024 themed ‘Towards the world’s third largest economy’. AMCHAM India represents over 400 American companies operating in India is set to host the Summit on August 8th, 2024, in New Delhi.
For over three decades, AMCHAM India has been at the forefront of fostering bilateral trade and investment between the United States and India. It serves as a vital bridge, connecting U.S. businesses with Indian policymakers, industry leaders, and key stakeholders. U.S. companies will be playing a catalyst role in India’s journey towards becoming a developed nation by 2047.
Companies like Amazon, AMD, HP India, IBM, Micron and Microsoft are investing heavily in India’s digital infrastructure, while firms like Dastur, Emerson and Honeywell are contributing to the country’s renewable energy goals. In the healthcare sector, companies such as Beckton Dickinson, Boston Scientific, GE Healthcare, Medtronic and MSD Pharmaceuticals are working towards enhancing India’s pharmaceutical and medical device capabilities.
As India aims to become the world’s third-largest economy, U.S. companies are gearing up to bring their core competencies, critical technologies, and investments to support this ambitious goal, committed to being long-term partners in India’s growth story, fostering innovation, creating high-quality jobs, and contributing to the overall development of the nation.
The AMCHAM U.S.-India Partnership Summit 2024 will examine, explore and establish new benchmarks for the size, scale and range of U.S.-India business exchange. This day-long Summit will have business leaders of the U.S. industry get a ring side view of the vison of the Government, its plans to achieve these milestones and the possibilities it could hold for U.S. businesses in India. CEOs from leading U.S. companies in India will attend the Summit. Senior government functionaries of the Government of India have been invited to the Summit.
U.S. firms currently support over 5 million direct and indirect jobs in India, with many companies having their largest workforce outside the U.S. based in India. U.S. companies are also aiding India’s technological advancement by supporting the development of a 10,000+ GPU exascale machine for India’s national security, showcasing the deep trust and collaboration between the two nations in cutting-edge technologies.
Speaking about the upcoming U.S.-India Partnership Summit Ms. Ranjana Khanna, Director General and CEO – AMCHAM India, said, “U.S. companies have emerged as significant contributors to India’s economic growth with over USD 66 Billion already invested across critical sectors such as defence, telecommunications, power, petroleum, space, and information technology. These investments have not only bolstered India’s technological capabilities but have also created substantial employment opportunities. AMCHAM’s U.S. India Partnership Summit is a platform to celebrate this and fuel further collaboration in the run up to India’s achieving its India’s economic ambitions.”