Most companies view India as massive opportunity: USIBC

USIBC feels strongly that the best method to resolve differences and remove or minimise barriers to investment and trade is through ongoing and persistent dialogue, he said.

"We listen carefully to the objectives laid out by Government of India. Likewise, the Government of India has listened carefully to industry. This is not to say that all issues are resolved or that new issues affecting investment will not arise," he added.

"Certainly, differences of opinion remain regarding the speed and depth of reforms across various sectors. There is consensus, however, that India is a vitally important market," Somers said.

India remains a steadfast beacon of hope and freedom in a region known for its 'tough neighbourhood', he said.

India has been instrumental in working with the US building out educational and democratic institutions in Afghanistan. India has worked closely with the US to restore peace in Sri Lanka and has brought its democratic influence to Nepal to encourage the embrace of democracy there, he said.

India has engaged in constructive initiatives with Bangladesh, with China, with Myanmar, and with Pakistan to encourage peace in the region, Somers said.

Observing that the two countries must never take this relationship for granted, he said the bonds of partnership are still in formation.

"Major engagement only began between US and Indian stakeholders 20 years ago. We must nurture this friendship. And let us never forget the extraordinary progress we have made as new partners in just two decades," Somers said.