Tracing the rapid growth in the bilateral economic relations, Kamath said that there is an opportunity today and that businesses of both India and the US must seize upon this for mutual benefit.

"There is a whole range of opportunities in the private- private route," Kamth said referring to the opportunities in the rural landscape. "The government will be a facilitator on both sides, " he added.

With between eight and ten million people entering the workforce in India, one of the biggest challenges is that of "skills to manage the jobs and relatedly the need to revamp the educational process," Kamath said. "To me that seems to be the major challenge."

The CEO delegation included Gopal Srinivasan, Chair and Managing Director of TVS Capital Funds Limited, Harpal Singh Chair of Ranbaxy Laboratories, Jignesh Shah Chair and CEO of Financial Technologies, Rajan Navani of Jetline Group of Companies and Hari Bhatia, Co Chair and Managing Director of Jubilant Organosys.