Indian Companies Invest USD 20.5 Billion in US Ventures

Indian companies are poised to invest more than USD 20.5 billion in the United States, targeting strategic sectors such as technology, manufacturing, and pharmaceuticals. The announcement was made at the SelectUSA Investment Summit held at National Harbour, Maryland.

These substantial investments are anticipated to generate thousands of jobs, fortify supply chains, and boost US production capacity. Sun Pharmaceutical's planned acquisition of New Jersey-based Organon & Co. for USD 11.75 billion underscores the focus on expanding the pharmaceutical industry.

The summit featured 12 Indian companies announcing investments totaling over USD 1.1 billion, the largest number ever from a single delegation at the event, according to US Under Secretary of Commerce for International Trade William Kimmitt. Major projects include JSW Steel's modernization plans and Sterlite Technologies' establishment of a greenfield factory.

(With inputs from agencies.)