India's Opening Up Has Tremendously Benefited U.S. Firms: CII

As a result of such pro-business policies, India has been consistently rated among the top investment destinations globally by international bodies including the World Bank, and UNCTAD, Shroff said.

This is further evidenced in the fact that cumulative global FDI inflows to India between 2002-2012 stood at $164.4 billion, of which the US share is pegged at about six percent.

In addition, the fact that countless US companies are experiencing high growth and profitability in India clearly indicated that US companies, like other foreign firms have tremendously benefited from India's opening up, Shroff said.

Pointing out that the broader strategic partnership between the two countries, goes beyond the merely transactional, CII said revamping interactions through various bilateral forums could lead to constructive conversations, policy prescriptions and follow on action to further boost investor confidence.

Meanwhile, Ron Somers, president of US-India Business Council (USIBC), a trade group comprising 350 top US and Indian companies, said "there are many reasons India should be a top priority for US attention".

Read More:

India Will See More U.S. Investments At 49 Percent FDI In Defence: Kohler

U.S. Must Exercise Care In Verdicts On India's Trade Policies