US cos may line up $27 bn investments in India in two years: USIBC

NEW DELHI: American companies invested an over $15 billion ever since the Narendra Modi government came to power and are expected to further increase the investments by $27 billion in the next two years, according to US-India Business Council (USIBC).

"The reforms undertaken by India in the last two years under Prime Minister Modi's leadership are resonating very well with the US companies," USIBC President Mukesh Aghi said today.

"In a recent USIBC survey, about 20 per cent of our member companies confirmed that they have already invested over $15 billion in India ever since Prime Minister Modi assumed office. Within this and the next year, we expect more than $27 billion to be invested additionally by at least 52 US companies in India," he added.

Both the US and India have a huge opportunity to scale up bilateral trade exponentially in the coming years, USIBC Chairman John Chambers said.