AMCHAM’s Western Region convened a closed-door roundtable on November 5th at the KKR office in Worli, Mumbai, bringing together senior leaders from member companies for an open discussion. The purpose of the interaction was to exchange insights on the investment climate in India, understand sectoral trends, and highlight challenges and opportunities that shape foreign investor sentiment.

Participants acknowledged that India continues to hold strong long-term potential as an investment destination; however, they also highlighted several real-time challenges that businesses are currently experiencing. Many sectors have been impacted by tariff-related changes, which have created uncertainties and affected operational planning. Members noted that regulatory unpredictability remains a concern, with companies often navigating inconsistencies between policy intent and administrative implementation on the ground. Despite these issues, there was broad agreement that the Indian government is moving in the right direction, with a continued focus on economic growth, investment promotion, and signalling support for profit-making enterprises.

The discussion also covered broader sectoral and strategic themes. Several members spoke about the implications of tariffs on both the services and manufacturing sectors and how companies are actively pursuing China-plus-one strategies to diversify supply chains. India’s market scale, talent availability, and improving geopolitical positioning make it an attractive alternative. However, members pointed out that the country’s overall technology readiness remains modest, with scope for deeper investment in advanced capabilities. At the same time, India offers significant opportunities for technology transfer in areas such as semiconductors, supply chain modernization, and risk management technologies. Participants also highlighted that data center investments remain high due to India’s digital growth trajectory, supported by a strong talent pipeline.

Structural and governance-related reforms formed another major part of the discussion. Members emphasized the need to rebuild trust between businesses and regulatory bodies and reduce the gap between policy formulation and administrative execution. Enhancing business dispute resolution mechanisms, strengthening bankruptcy and insolvency processes, and addressing the recent slowdown in the start-up ecosystem were identified as important areas. Labour and firm-level reforms, along with judicial reforms to reduce delays and uncertainty, were also noted as critical factors in improving the business environment and attracting sustained foreign investment.

The conversation reflected on the increasing competitiveness among Indian state governments. Participants observed that states are actively offering incentive packages to attract investors and are working towards streamlining processes through single-window clearance systems, which are improving the ease of doing business. It was noted that the Government of India has consistently communicated its support for companies that create value and deliver profits and is encouraging greater investment by providing enabling conditions and assistance. The meeting was attended by Mr. Richard Bullock, CFA, Global Macro & Asset Allocation, KKR, Mr. Anand Jha, Managing Director, Visa India, Ms. Simi Thapar, Country CEO, CSI Leasing, Mr. Karna Rao, Vice President, CSI Leasing, Mr. Aditya Dhand, Managing Director & Country Lead, JS Held, Dr. Niranjan Pai, Senior Director, APCO Worldwide, Ms. Tehmina Sharma, Partner, Deloitte, Mr. Anil Talreja, Partner, Deloitte, Mr. Nachiket Deo, Partner, Ernst & Young and Ms. Rakhi Sikka, Regional Director – Western Region, AMCHAM.