Indian companies have committed a record $20.5 billion in investments into the United States, the largest-ever pledge by any single country at the annual SelectUSA Investment Summit, held this year in Maryland, according to a release shared by US Embassy in India.

The bulk of the investment, over $19.1 billion, is headed to the pharmaceutical sector, covering new manufacturing facilities, research and development centres, and expansion of existing operations on American soil. The remaining commitments are spread across steel, connectivity, energy supply chains, advanced manufacturing, and emerging technologies.

Separately, 12 Indian companies announced over $1.1 billion in new greenfield and expansion projects across multiple US states, targeting jobs in manufacturing, technology, and engineering. The combined announcements surpass the cumulative total of all India-linked investment pledges made at every previous edition of the summit.

Trade target in sight

Speaking at the SelectUSA kick-off reception in New Delhi, US Ambassador to India Sergio Gor framed the investments as a step toward the bilateral goal of doubling US-India trade to $500 billion by 2030.

“Through fair, balanced, and mutually beneficial trade, we’re attracting world-class investment to the United States and creating shared prosperity for both nations,” Gor said.

The investments are expected to create thousands of jobs in both countries while expanding US production capacity and strengthening supply chains in sectors Washington considers strategically critical, particularly pharmaceuticals and energy infrastructure.

For India, the announcements signal the growing global footprint of its corporate sector, especially in pharma, where Indian manufacturers already play a significant role in the US generics market. The greenfield commitments suggest companies are moving beyond exports to establishing direct manufacturing and R&D presence in the US.

The SelectUSA summit, organised by the US Department of Commerce, is the country’s flagship event for attracting foreign direct investment, drawing thousands of investors, companies, and economic development organisations each year.