US Companies in India
- July 27, 2023
United States is India's third largest source of FDI, first largest trade partner, and the largest services export destination. The bilateral trade between India and the US has increased by 7.65% to US$ 128.55 in 2022-23 as against US$ 119.5 billion in 2021-22.
Based on shared democratic values and a growing convergence of interests on bilateral, regional, and global issues, India-US bilateral relations have evolved into a "global strategic partnership."
The bilateral cooperation between the United States and India is broad-based and multi-sectoral, covering trade and investment, security and defence, education, science and technology, cyber security, high-technology, civil nuclear energy, clean energy, environment, agriculture, and health.
There is significant potential for India and the US to further strengthen their economic ties, by effectively leveraging India’s inherent advantages.
This study synthesises the insights gained from a study of top US companies that have a presence in India. It aims to understand experiences of these companies and the factors that have contributed to their success, which in turn, can assist other multinational companies in making their Indian investments more productive.
The study covers leading US companies in India and is based on information gathered from both primary interviews and secondary research.
US investments in India
US is the third-largest FDI source for India with the total FDI from April 2000-March 2023 being over US$ 60.19 billion.
In 2023, Google announced a US$ 10 billion investment in India’s digitisation fund, in order to boost the country’s digitisation drive and fin-tech potential. Amazon is planning to more than double its investment in India in the next seven years by investment an addition US$ 15 billion in the country. US semiconductor toolmaker Applied Materials also announced its plans to invest US$ 400 million over the next four years in a state-of-the-art engineering centre in India.
Amazon Web Services (AWS) also revealed its intention in 2023, to invest US$ 12.7 billion in cloud infrastructure in India by 2030 and create over 130,000 jobs.
List of US companies in India
Agilent
Agilent Technologies Inc., a global leader in analytical laboratory technologies, provides trusted answers that help customers solve their most ambitious scientific challenges, increase laboratory performance, and advance quality of life. The company opened its new campus in Manesar, India in 2010. Agilent started its operations in India in 1999 and sold tools for pharmaceutical quality analysis, clinical and contract research, contract manufacturing and commercial, and chemical testing for the food and beverage industry.
Adobe Inc.
Adobe Inc. (formerly known Adobe Systems Incorporated) is an American developer of printing, publishing, and graphics software. The company was founded in 1982 by Mr. John Warnock and Mr. Charles Geschke. Adobe was among the first technology companies to invest in India 25 years ago. Today, the company’s India teams are central to Adobe’s global innovation agenda and cross-cloud leadership. In 2023, the company announced the opening of an office tower in Bengaluru.
Amazon
Amazon.com, Inc. is an American multinational technology company focusing on e-commerce, cloud computing, online advertising, digital streaming, and artificial intelligence. In 1994, Mr. Jeff Bezos debuted Amazon as an online bookstore. Amazon went live with its India’s marketplace website in June 2013. Further, as time went by, the company introduced Amazon Now (which later was renamed as Prime Now), Prime Membership Programme, Pay Balance, and Prime Video in India in 2016. Later, in 2018, Prime Music was launched.
American Express
American Express is a globally integrated payments company that provides customers with access to products, insights, and experiences that enrich lives and build business success. In 2021, American Express marked 100 years of operations in India. The company started with a travel office in Kolkata in 1921 and then introduced the first rupee-denominated credit card in 1992.
Amway
Amway, a direct-selling company, was founded in 1959 by two entrepreneurs, Mr. Rich DeVos and Mr. Jay Van Andel. Amway India was established in 1996 and commercially started its operations in 1998 with just six products. Today, Amway India has grown to be one of the leading FMCG direct selling companies in the country that has 140 world-class quality consumer products in its portfolio exemplifying consistent innovation based on changing consumer needs, supported by their flagship brands Nutrilite - the world's No.1 VDS brand and Artistry-India's premium skincare brand.
Apple
Apple Inc. is an American multinational technology company headquartered in Cupertino, California., Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple’s five software platforms — iOS, iPadOS, macOS, watchOS, and tvOS, thereby providing seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple celebrated more than 25 years in India in 2023. With this, the company also launched its first two retail stores in India- Mumbai and Delhi. The company began manufacturing iPhones in India in 2017, and since then, the company has worked with suppliers to assemble iPhone models and produce a growing number of components.
Avaya
Avaya is a leading provider of solutions that enable customer and team engagement across multiple channels and devices for better customer experience, increased productivity and enhanced financial performance. Its world-class contact centre and unified communications technologies and services are available in a wide variety of flexible on-premises and cloud deployment options that seamlessly integrate with non-Avaya applications. Avaya India has more than 1,200 employees across research and development (R&D), customer experience centres, and cross-functional areas, and has offices in Pune, Hyderabad, Bangalore, and Delhi.
Caterpillar
Caterpillar has been a key partner in India’s growth since the 1930s, supporting growth in mining, transportation, captive power generation, and construction of infrastructure. The company’s India presence includes state-of-the-art manufacturing facilities, research and development centres, and service and support organizations. Some of its brands present in India are Cat, Progress Rail, Perkins, Solar Turbines, FG Wilson, SEM, Hindustan, and Cat Financial.
CB Richard Ellis
CB Richard Ellis (CBRE) Group, Inc. a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2022 revenue). CBRE was the first International Property Consultancy to set up an office in India in 1994. Since then, the operations have grown to include more than 10,000 professionals across 15 offices with a presence in over 80 cities in India. As a leading international property consultancy, CBRE provides clients with a wide range of real estate solutions, including Strategic Consulting, Valuations/Appraisals, Capital Markets, Agency Services, and Project Management.
Cisco
Founded in 1984 by a small group of computer scientists from Stanford University, Cisco engineers have been leaders in the development of Internet Protocol (IP)-based networking technologies since the company's inception. This tradition of innovation continues with industry-leading products in the core areas of routing and switching, as well as advanced technologies in areas such as Unified Communications, Network Security, Video, Virtualization, and Cloud Computing. Cisco India commenced in 1995 and has seven sales offices in the region- New Delhi, Mumbai, Bangalore, Chennai, Pune, Kolkata, and Hyderabad.
Citigroup
Committed to India for 120 years, backed by an unmatched global network, Citi offers institutions a range of financial products and services, including corporate and commercial banking, investment banking, treasury and trade services, markets, and custody services. Citi India has a network of Citi Solution Centres in the areas of technology, processing, analytics, and financial processes.
Coca Cola
Coca-Cola is a beverage company, comprising around 200 brands and thousands of beverages around the world, from soft drinks and waters to coffee and teas. Some of its brands are Coca-Cola, Sprite, Thums Up, and Limca, among others. Coca-Cola came to India in the year 1956 and re-entered India in 1993.
Cognizant
Cognizant is an American multinational information technology services and consulting company. Cognizant helps companies modernize technology, reimagine processes, and transform experiences so they stay ahead in a fast-changing world. On January 20, 1994 Cognizant registered its branch in Chennai, Tamil Nadu, India with the legal name Cognizant Technology Solutions India Private Limited.
Colgate Palmolive
From a modest start in 1937, when hand-carts were used to distribute Colgate Dental Cream, Colgate-Palmolive (India), now in its eighth decade, has one of the widest distribution networks in India. Today, the company is the market leader in the country in Oral Care that seeks to deliver sustainable, profitable growth, superior shareholder returns, and provide its people with an innovative and inclusive work environment. The company manufactures and markets toothpaste, toothbrush, toothpowder, oil-pulling products, and mouthwashes, under the Colgate brand, and a specialized range of personal care products under the Palmolive brand.
CSC
As a leading registered agent, CSC provides custom solutions for every phase of the business life cycle: managing risk, increasing efficiency, and ensuring security. The Virginia, US-based firm, which began operations in India as early as 1991, provides software application development, computer infrastructure management, tech consulting, Web hosting, and system integration services to global customers in banking and financial services, manufacturing and healthcare, as well as to government clients.
Cummins
Cummins in India designs, manufactures, distributes, and services diesel and alternative fuel engines from 2.8 to 95 litres, diesel and alternative-fuelled power generator sets of up to 3,000 kW (3750 kVA), as well as related components and technology. Part of the US$ 23.6 billion Cummins Inc., Cummins in India serves customers through their network of three Generator Original Equipment Manufacturers (GOEMs), 21 dealerships, and more than 120 dealership branch offices in India.
Discovery
Discovery Channel India is the Indian version of Discovery Channel operated by Warner Bros. Discovery for the Indian subcontinent. It is available in eight languages including Hindi, English, Telugu, Malayalam, Kannada, Bengali, and Marathi while the Tamil language has a separate dedicated channel Discovery Tamil. It was launched in 1995 in India while the HD version was launched in 2010.
DuPont
DuPont is using science and innovation to make the world a safer, healthier, and better place to live. DuPont makes a broad array of industrial chemicals, synthetic fibres, petroleum-based fuels and lubricants, pharmaceuticals, building materials, sterile and specialty packaging materials, cosmetics ingredients, and agricultural chemicals. The company opened its liaison office in 1974 in India and then in 1995, a wholly-owned India subsidiary was set up.
Eli Lilly
Eli Lilly and Company is an American pharmaceutical company headquartered in Indianapolis, Indiana, with offices in 18 countries. Its products are sold in approximately 125 countries. The company was founded in 1876 by, and named after, Colonel Mr. Eli Lilly, a pharmaceutical chemist and veteran of the American Civil War. Since its inception in India in 1993, Eli Lilly and Company (India) Pvt. Ltd. has been committed to developing and marketing pharmaceutical products to treat diabetes, gastric cancer, lung cancer, breast cancer, osteoporosis, rheumatoid arthritis, men's health and growth-hormone deficiency. Lilly opened the capability center, Eli Lilly Services Pvt Ltd, in Bangalore in January 2016.
Emerson Electric
Emerson headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets. The Emerson Automation Solutions business helps process, hybrid, and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Established in 1997, the Emerson Export Engineering Centre in Pune, India was the company’s first global engineering centre to be set up outside the United States.
EXL
EXL Service is a global analytics and digital solutions company serving industries including insurance, healthcare, banking and financial services, media, retail, and others. The company’s expertise in transformation, data science, and change management helps make businesses more efficient and effective, improve customer relationships, and enhance revenue growth.
Federal Express
Federal Express (FedEx) is the world’s largest express transportation company, with a presence in nearly 220 countries and covering 365 airports. It employs over 136,000 employees and operates more than 645 aircraft. FedEx was established in 1973 and is headquartered in Memphis, USA. The company differentiates itself through highly reliable, value-added services like guaranteed customs-cleared, 48-hour delivery for international consignments. Federal Express started operations in India in 1997.
Franklin Templeton
Since 1947, Franklin Templeton has been dedicated to delivering exceptional asset management for institutional, retail, and high-net-worth clients. Franklin Templeton's association with India dates back to over two decades as an investor. As part of the group's major thrust on investing in markets around the world, the India office was set up in 1996 as Templeton Asset Management India Pvt. Limited. It flagged off the mutual fund business with the launch of Templeton India Growth Fund in September 1996, and since then the business has grown at a steady pace.
General Electric
General Electric (GE) has been partnering in India’s industrial growth and technology development since 1902. With 12 local manufacturing facilities, and five technology centres, GE today works across some of the most important sectors of the economy – aviation, energy, power, and renewable energy. Backed by their manufacturing facilities and technology centres across Bengaluru, Pune, Chennai, Mumbai, Noida, and Hyderabad, GE in India is leading the course in developing the future of energy and sustainable aviation.
Gilette
Gillette is an American brand of safety razors and other personal care products including shaving supplies, owned by the multi-national corporation Procter & Gamble. Gilette entered Indian markets in 1984.
Google India Private Limited, founded in 2004, is a subsidiary of Google LLC and operates as a technology company based in Bangalore, India. The company offers a wide range of internet-related products and services, including search engines, cloud computing, software, and online advertising technologies. Google India provides localized services such as Google Maps, Google Pay, and Google Assistant in the Indian market. Google India's top products and services include Google Search, Google Maps, Google AdWords, Google Analytics, Google Cloud, and Google Assistant.
Honeywell
Honeywell was incorporated in India in 1984 and its registered office in Hadapsar, Pune. It is a leader in providing integrated automation and software solutions, including process solutions, and building solutions. Honeywell’s commitment in India is evident in three state-of-the-art manufacturing facilities and four global centres of excellence for technology development and innovation. They employ close to 13,000 people across 20 locations, including Bengaluru, Chennai, Dehradun, Delhi, Gurugram, Hyderabad, Kolkata, Madurai, Mumbai, Pune, and Vadodara.
Hewlett Packard
Hewlett Packard (HP) Inc. is an American multinational information technology company headquartered in Palo Alto, California, that develops personal computers, printers, and related supplies, as well as 3D printing solutions. Hewlett-Packard's presence in India began in 1964, but the company's business in India really began to take off with a company agreement with Blue Star, Ltd. in 1970. In 2021, the company started manufacturing multiple PC products, including laptops in India, as a part of its ‘Make in India’ initiative.
IBM
IBM India Private Limited, founded in 1992, is the Indian subsidiary of IBM. It has facilities in Ahmedabad, Bengaluru, Bhubaneshwar, Chennai, Coimbatore, Delhi, Gurgaon, Hyderabad, Kochi, Kolkata, Mumbai, Noida, Pune, Mysore, and Visakhapatnam. IBM integrates technology and expertise, providing infrastructure, software (including market-leading Red Hat), and consulting services for clients as they pursue the digital transformation of the world’s mission-critical businesses.
Intel
Intel Corporation is an American multinational corporation and technology company headquartered in Santa Clara, California. From edge computing to the 5G network, cloud computing, AI, and autonomous driving, the company’s products deliver the necessary building blocks for an increasingly smart and connected world. Intel established a sales office in Bangalore in 1988. Ten years later, the Intel India Development Centre (IIDC) commenced operations.
Johnson & Johnson
Johnson & Johnson spread its root into India in 1957. Since then, the company has brought many innovative ideas, products, and services to improve the health and well-being of people in India. The company today employs more than 3,500 people and is organized into three business segments: Consumer Healthcare, Medical Devices, and Pharmaceuticals.
J.P. Morgan
J.P. Morgan’s physical presence in India dates to 1945 when predecessor Chase National Bank opened a representative office in Mumbai. Today, the company provide clients in India with a comprehensive range of corporate and investment banking services. The company’s centres in Mumbai, Bengaluru, and Hyderabad support operations globally. J.P. Morgan is a global leader in financial services, offering solutions to the world's most important corporations, governments, and institutions in more than 100 countries.
Kellogg
Kellogg’s began their journey in India by setting up a manufacturing plant at Taloja (Maharashtra) in 1994. Since then, the company has innovated, invested in, and built the breakfast cereal category. Kellogg’s grew its commitment towards ‘Make in India’ by launching a second manufacturing facility at Sri City (Andhra Pradesh) in 2015. A Research and Development Centre was also established to cater to the demand of the South Asian markets for Kellogg.
Kimberly Clark
At Kimberly-Clark, from innovative products to insightful solutions, the company is on a continuous mission to lead the world in providing the essentials for a better life. Kimberly Clark has been serving Indian consumers since 1995 in a joint venture with Hindustan Unilever - Kimberly-Clark Lever. In 2017, with the unwinding of the JV, the company started its independent operations in India. With iconic brands like Huggies, Kotex, Kleenex, and Depend in portfolio, the company’s goal is to bring the strength of their global brands and capabilities to build a high performing organization in India.
Kodak
Kodak is a leading global manufacturer focused on commercial print and advanced materials & chemicals. With 79,000 worldwide patents earned over 130 years of R&D, the company believes in the power of technology and science to enhance what the world sees and creates. Kodak India Ltd. was incorporated in 1973. Kodak TV was created in 2016 out of the exclusive brand licensing agreement between our parent company, Super Plastronics Pvt Ltd. (SPPL), and the Eastman Kodak Company, USA. Holding the exclusive licensee in India, SPPL gradually escalated its innovation from CRT TVs to Smart LED TVs. Today, it is one of the leading ‘Made in India; brands that manufactures smart TV ranges to fulfil consumers’ needs and fit every pocket.
McDonald’s
McDonald's Corporation is an American multinational fast-food chain, founded in 1940 as a restaurant operated by Mr. Richard and Mr. Maurice McDonald. McDonald’s in India was started in 1996 in Bandra, Mumbai with one single restaurant. McDonald's India is committed to sourcing almost all of its products from within the country. For this purpose, it has developed local Indian businesses, which can supply them with the highest quality products required for their Indian operations.
MetLife
The Metropolitan Life Insurance Company (MetLife), established in 1868, is one of the largest insurers in the US. MetLife India Life Insurance Company Private Limited was incorporated in India in 2001 as a joint venture between MetLife International Holdings Inc., The Jammu and Kashmir Bank, M. Pallonji and Co. Pvt. Ltd., and other private investors. PNB MetLife is a joint venture between MetLife and PNB, one of India's oldest and leading nationalized banks. The vast distribution reach of PNB together with the global insurance expertise and product range of MetLife makes PNB MetLife a strong and trusted insurance provider in India. PNB MetLife offers a wide range of protection and retirement products to customers through a robust distribution network of financial advisors and multiple bank partners.
Microsoft
Microsoft enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more. Microsoft set up its India operations in 1990. Microsoft in India offers its global cloud services from local data centres to accelerate digital transformation across Indian start-ups, businesses, and government agencies. Microsoft entities in India have over 20,000 employees, engaged in sales and marketing, research and development and customer services and support, across 10 Indian cities – Ahmedabad, Bengaluru, Chennai, Gurugram, New Delhi, Noida, Hyderabad, Kolkata, Mumbai, and Pune.
Morgan Stanley
Morgan Stanley has been operating in India for over 29 years, providing a variety of services to domestic and international clients. The company has a premier institutional securities platform in India, offering a full range of investment banking, capital markets, equities, fixed income, commodities and derivative products, as well as research. In 2003, Morgan Stanley established a new global in-house centre in Mumbai to support the company’s institutional securities, wealth management, and investment management businesses worldwide.
New York Life Insurance
New York Life Insurance Company is the third-largest life insurance company and the largest mutual life insurance company in the US. New York Life had partnered with Max Group to form Max New York Life Insurance Company Limited with 26 per cent ownership and later the stake was sold. As of 2017, the company holds 1.93% stake in Max Ventures. New York Life Insurance is planning to invest US$ 35.5 million (Rs. 290 crore) for a 49% equity stake in a commercial project of Max Estates’ SPV in Gurgaon (as of February 2023).
Ogilvy & Mather
Ogilvy has been growing brands and businesses since 1948. The company’s experts in public relations, consulting, advertising, health, and experience work fluidly across 131 offices in 93 countries. The company has an enviable reputation and has consistently been ranked the #1 Creative Agency in India since 2003 by the Economic Times Brand Equity Agency Reckoner, India’s leading financial daily. Ogilvy India has helped build some of India’s largest, most successful brands for clients like Vodafone (now Vi), Unilever, Mondelez, The Tata Group, The ITC Group, Pidilite, Asian Paints, Bajaj Auto
Oracle
Oracle was among the first multinational software companies to set up base in India, and it began with a distributorship alliance with Tata Consultancy Services (TCS) in 1987. Direct operations were established with a liaison office in 1991. Oracle India Private Limited was set up as a wholly-owned subsidiary in 1993. Headquartered in Gurgaon near New Delhi, Oracle India offers sales, marketing, consulting, education and support to local customers through its six offices across India. It also serves many functions critical to Oracle Corp and represents the only operation outside Oracle’s headquarters in California. Oracle opened its India Development Centre (IDC) at Bangalore in 1994, with a view to leverage the talented Indian workforce for product design and development.
PepsiCo
PepsiCo, Inc. is an American multinational food, snack, and beverage corporation headquartered in Harrison, New York, in the hamlet of Purchase. PepsiCo entered India in 1989 and has grown to become one of the largest MNC food and beverage businesses in India. PepsiCo India’s diverse portfolio includes iconic brands like Pepsi, Lay’s, Kurkure, Tropicana 100%, Gatorade, and Quaker. The company provides direct and indirect employment to almost 170,000 people in India.
Pfizer
Pfizer is one of the world’s leading pharmaceutical companies, founded more than 170 years ago. Pfizer Limited is specialised with expert therapy in four business categories - Vaccines, Hospitals, Internal Medicine, and Inflammation and Immunology. Pfizer Limited was listed on the Bombay stock exchange in 1966. Today, the company has over one lakh shareholders in India and is the fourth largest multinational pharmaceutical company in India. Pfizer Limited has a state-of-the-art local market supply facility in Goa that manufactures over 4 billion oral contraceptives, steroid tablets, and general tablets annually.
Pizza Hut
Pizza Hut is an American multinational restaurant chain and international franchise founded in 1958 in Wichita, Kansas. In June 1996, Pizza Hut made its foray into India with a restaurant in Bangalore and was the first international restaurant chain to pioneer this category. The restaurant brand offers an exciting menu consisting of its signature pizzas, appetizers, pastas, desserts, and beverages. Its trademark dining experience has been recognized by Brand Equity to make it the ‘Most Trusted Food Service Brand’ for 11 years in a row.
Texas Instruments
Texas Instruments (TI) is a global semiconductor company that designs, manufactures, tests, and sells analogue and embedded processing chips. The company’s more than 80,000 products help over 100,000 customers efficiently manage power, accurately sense and transmit data, and provide the core control or processing in their designs, going into markets such as industrial, automotive, personal electronics, communications equipment, and enterprise systems. TI recognised the value of India for global research and development (R&D) as early as in 1985. Initially attracted by the country’s engineering talent, TI established an R&D centre in Bangalore, the first global technology company to set up such a facility in the country.
Tecumseh
Tecumseh Products Company is an American manufacturer of hermetic compressors for air conditioning and refrigeration products. The company developed the first “hermetic” compressor for consumer refrigerators in 1937. Tecumseh Products India has established since 1997, headquartered at Hyderabad (Telangana), India is also, home to the system business unit and the second India facility for refrigeration compressors is at Ballabgarh, Haryana, India.
Timex
The Timex Group India was incorporated in 1988 as a joint venture between Timex Corporation USA and Titan Watches (a Tata company) to manufacture watches. Timex Group designs manufactures and markets innovative timepieces and jewellery globally. Timex India is one of the most trusted brands for wrist watches in India.
Visteon
Visteon is a technology leader in automotive electronics dedicated to creating a more enjoyable, connected, and safe driving experience. The company’s products align with key industry trends and include digital instrument clusters, displays, Android-based infotainment systems, domain controllers, advanced driver assistance systems (ADAS), and battery management systems. Visteon entered the Indian market in the year 1993 and ever since has grown to become the second largest climate systems supplier, largest cockpit electronics and interior systems technology provider in India.
Walmart
Walmart is committed to business in India and dedicated to making a difference in the lives of customers and supporting suppliers and sellers, while contributing to communities and the economy as part of India’s long-term growth. As of October 31, 2022, Walmart had 10,586 stores and clubs in 24 countries, operating under 46 different names. The company operates under the name Walmart in the United States and Canada and as Flipkart Wholesale in India. The Flipkart Group is one of India's digital commerce leaders and includes group companies Flipkart, Flipkart Wholesale, and Myntra. Since launching in 2007, Flipkart has enabled millions of consumers, sellers, merchants, and small businesses to be a part of India's e-commerce revolution.
Whirlpool
Whirlpool of India Ltd, is a subsidiary of Whirlpool Corporation, committed to being the best global kitchen and laundry company, in constant pursuit of improving life at home. Headquartered in Gurugram, the company is one of the largest manufacturers and marketers of major home appliances in the country. The company owns three manufacturing facilities at Faridabad, Pondicherry, and Pune. Whirlpool entered India in the late 1980s as part of its global expansion strategy. It forayed into the market under a joint venture with TVS group and established the first Whirlpool manufacturing facility in Pondicherry for washing machine category.
Xerox
Xerox India, based in Gurgaon, India, is the Indian subsidiary of Xerox Corporation, the American printer, photocopier, document supplies, technology and services company. Originally Modi Xerox, the business was derived from a joint venture formed between Dr. Bhupendra Kumar Modi through ModiCorp (now Spice Group) and Rank Xerox in September 1983. In 2010, Xerox Corporation announced the opening of its India Innovation Hub located in Chennai at the Olympia Technology Park.
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