Modi’s US visit sparks wave of American investment in India

Published by: Vivek Dubey

The United States is the third largest source of foreign investment for India, with over $60 billion invested between 2000 and 2023, according to official data.

Following are some recent investment announcements, mostly by US companies:

Tesla

Elon Musk hints at “significant investment” in electric cars.

Micron Technology

India approves $2.7 billion plan for a new semiconductor testing and packaging unit.

Boeing

Invests $24 million in logistics centre, wins Air India order.

Amazon

Amazon Web Services to invest $13 billion in cloud infrastructure and jobs.

Apple

Opens stores in Mumbai and Delhi, manufactures products through Foxconn, Wistron and Pegatron.

Foxconn

Plans to invest $1.5 billion in plants and AirPods factory, creating 70,000 jobs.

Cisco Systems

Starts manufacturing from India, targets $1 billion in exports.

Walmart

Plans exports worth $10 billion a year by 2027.

Indian Prime Minister's visit to the US is likely to encourage more American companies to consider investing in the South Asian country as they look to reduce their reliance on China for manufacturing-related activities.

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