US companies increasingly looking to shift operations to India amid supply chain reset: Envoy

New Delhi [India], May 21 (ANI): US Ambassador to India Sergio Gor on Thursday said American companies are increasingly looking at India as a preferred destination for expansion and supply chain diversification amid ongoing global realignments.

Speaking at the Annual Leadership Summit of the American Chamber of Commerce in India, Gor said, "Every single week, CEOs from the United States come to the embassy and say, I want to move my company from another country to India."

Highlighting the growing corporate interest in India, he said, "In the last week alone, from Uber to Walmart, their top CEOs are here." Gor further added that executives from Boeing, Lockheed and GE were also scheduled to visit India this week.

"And they're here, they're not in other parts of the world... this is not a one-off. This is a regular occurrence," the envoy said, calling it a "testament to that limitless potential between our two countries."

Gor said global supply chains are being reconfigured, with countries increasingly seeking "trusted and resilient partnerships."

"We have seen over the last decade that over-dependence on a single segment of the supply chain creates vulnerability," he said.

"Simply put, the United States, under President Trump, trusts India," Gor added, noting that the two countries can work together to integrate value chains, accelerate technological advancement and strengthen energy security.

The envoy also said India and the United States are moving closer towards finalising a bilateral trade agreement.

"Our current interim trade agreement is on the table for us to finalize, and that will unlock prosperity for both of our nations," he said.

Highlighting the ongoing negotiations, Gor said India had sent a trade delegation to Washington DC last month, while a US delegation is expected to visit next month for further discussions on the proposed trade pact.

"And so we are confident that over the next few weeks or next few months, this trade deal will get finalized," he added.

Gor said bilateral trade between India and the US has grown from around USD 20 billion to over USD 220 billion over the last two decades, with both countries targeting USD 500 billion in bilateral trade by 2030. (ANI)

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