The India-US business forum has called for increased industry partnership between the two countries in order to face the increasing competition from China.
The India-US CEO Forum meeting, to be held in Washington on 22 June, is expected to detail the new US strategy to tame an assertive China.
Finance minister Pranab Mukherjee and commerce and industry minister Anand Sharma and planning commission deputy chairman Montek Singh Ahluwalia are also meeting with their US counterparts alongside the bilateral meeting.
The bilateral meeting assumes special significance in the light of the introduction of a legislation in the US Congress on Friday to ban the purchase of Chinese products with taxpayers money.
At a function organised by the US-India Business Council (USIBC) and the Federation of Indian Chambers of Commerce and Industry (FICCI), the President of USIBC, Ron Somers, has asked the US and India to work in partnership.
"As we watch this new assertiveness, new Chinese muscularity, its time that the United States and India come closer as partners than ever before because it's worth it," he said.
The FICCI President Rajan Bharati Mittal also said India deserved a better partnership status in the light of its track record as a responsible and mature country.