Mumbai | US Ambassador Sergio Gor on Tuesday said India and the US must address friction points as true partners and work on predictable taxation and regulatory frameworks to allow business to thrive.
Speaking at the Indo-American Chamber of Commerce here, Gor stressed the need for candid, trust-based engagements on export controls and rock-solid intellectual property protections to give innovators confidence to invest, create and scale without fear.
The Indo-American Chamber of Commerce (IACC) held its national convention, themed "Redefining the India–US Comprehensive Strategic Partnership." Gor said that the US embassy in India topped the list among US embassies worldwide in attracting over USD 20 billion in investment.
When Indian companies invest in America, it is a win-win situation. They get access to one of the world's most dynamic markets, he said.
"This relationship has unbelievable and incredible potential. To unleash the full power of the economic engine, we must address friction points together as true partners. We need predictable taxation and regulatory frameworks that allow business to thrive," he said.
The US envoy said when companies around the world tell him that their intellectual property rights have been stolen and they want to move their firms to India, they ask whether it is safe here and his answer is a resounding yes.
"We do trust India," he said, adding that President Donald Trump has trusted India and invested heavily in this relationship from day one.
He noted that in just over two decades, bilateral trade between India and the US has shattered records, skyrocketing from USD 20 billion to USD 240 billion in goods and services.
The 12-fold increase doesn't happen by accident, he said, asserting that the two countries share the ambition of taking this figure to USD 500 billion by 2030, which reflects the sheer scale of unmatched potential.
"When India and the US work together, they integrate value chains, accelerate breakthroughs in critical technologies and strengthen supply chain resilience," Gor said.