NEW DELHI: Over 50 American businesses are expected to invest $27 billion (1.85 trillion) in India by 2017 as against $15 billion invested since May 2014, US-India Business Council president Mukesh Aghi said on Wednesday.

"We expect 52 US companies to invest $27 billion in India this year and next year, in addition to $15 billion by 20 per cent of our member companies since Prime Minister Narendra Modi assumed office," Aghi said, citing a council survey.

Noting that reforms under Modi's leadership were resonating well with US companies, he commended the country's rise in the ease of doing business index.

"Our members are buoyed by the direction of reforms, including fast-tracking approvals, transparent auction of natural resources and facilitating a level-playing field for investors," he said.

Reorganizing its policy groups to address Modi's priorities, focusing on manufacturing ties, the council told Modi at a meeting with him that a robust IP (intellectual property) policy was essential to boost investor confidence.

"We also stressed on greater clarity on certain FDI regulations and implementation of the goods and services tax (GST)," Aghi added.

A delegation led by council chairman and global networking major Cisco head John Chambers met Modi and key ministers to explore new opportunities for the India-US relationship.

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