Union Commerce Minister Piyush Goyal on Thursday said India has received investment commitments in data centres, semiconductor plants and factories from American companies to the tune of $60 billion in the last six months.
Addressing a press conference at the BJP headquarters, Goyal said the upcoming visit of the US Secretary of State Marco Rubio is a testament to this growing partnership between the two countries.
“The visit of the Secretary of State Marco Rubio is extremely timely, it reflects the growing partnership between the US and India which will provide newer and bigger opportunities to our youth, to our farmers, to our women, entrepreneurs, start-ups, industries, open up huge investment opportunities in India for US capital. In fact, in the last six months alone, we have heard big announcements aggregating to more than $60 billion. Imagine, 6 lakh crore investment is coming to India in data centres, in factories, semiconductor plants. US alone has made these investments. That is why we are called the “trusted partner” in the world,” the Minister said.
If the commitment of $60 billion in just six months actually materialises, it would reflect the pattern of increase in the FDI inflows from the US into India. Government data show that FDI inflows from the US have seen a steady rise — from $36.05 billion in FY 2013-14 to $81.04 billion in FY 2024–25.
Rubio will undertake a four-day visit to India beginning May 23 to further cooperation between the two countries. Goyal highlighted new technologies as the thrust area where India and the US are collaborating.
“We have a strategic partnership in minerals, we are working together in new technologies like Artificial intelligence, quantum computing, machine learning. We are co-designing and co-producing technologies of the future,” he said.
On whether Rubio’s visit reflects a renewed push for the India-US bilateral trade agreement which is yet to be signed, Goyal said: “We have finalised an interim, phase 1 of a bilateral trade agreement whereby India will get preferential access to the large $30 trillion US market. We have millions of Indians living and working in the US. They are our bridge to the US. Our Prime Minister is often called by the US President his one true friend.”
At another event in Delhi, Goyal said a US team is likely to visit India next month for trade talks with their counterparts here. The Indian side visited Washington, DC, in April for an in-person round of meetings with their US counterparts to finalise the details of the interim pact and take forward the negotiations under the broader bilateral trade agreement (BTA).
When asked if the US chief negotiator for the BTA will accompany Rubio, Goyal said, “he’s not coming with him, but there is some plan for them to come next month”.
Trade talks
Meanwhile, addressing the annual leadership summit of AMCHAM India in New Delhi, US Ambassador to India said Sergio Gor said Indian firms are steadily expanding their business footprint across the American market. “I was thrilled to see Indian companies committing more than $20 billion in investments in the US at the annual Select Investment Summit,” he said. Speaking about trade negotiations between the two countries, Gor said the interim trade agreement between India and the US is in the final stages of discussions.
“President Trump’s goal is to facilitate bilateral trade in a way that creates lucrative opportunities for American businesses and workers. Our current interim trade agreement is on the table to be finalised, unlocking prosperity for both nations,” he said.
Published on May 21, 2026