Last June in my address to a joint session of the U.S. Congress, I stated that the relationship between India and America had overcome the “hesitations of history.” A year later, I return to the U.S. confident in the growing convergence between our two nations.

This confidence stems from the strength of our shared values and the stability of our systems. Our people and institutions have steadfastly viewed democratic change as an instrument for renewal and resurgence.

In an uncertain global economic landscape, our two nations stand as mutually reinforcing engines of growth and innovation. Confidence in each other’s political values and a strong belief in each other’s prosperity has enabled our engagement to grow. A vision of joint success and progress guides our partnership.

Our bilateral trade, which already totals about $115 billion a year, is poised for a multifold increase. Indian companies are adding value to the manufacturing and services sectors in the U.S., with total investments of approximately $15 billion and a presence in more than 35 states, including in the Rust Belt. American companies have likewise fueled their global growth by investing more than $20 billion in India.

The transformation of India presents abundant commercial and investment opportunities for American businesses. The rollout of the Goods and Services Tax on July 1 will, in a single stroke, convert India into a unified, continent-sized market of 1.3 billion people. The planned 100 smart cities, the massive modernization of ports, airports, and road and rail networks, and the construction of affordable housing for all by 2022—the 75th anniversary of India’s independence—are not just promises of great urban renewal within India. These plans also showcase the enormous fruits of our relationships with enterprising U.S. partners—worth many billions of dollars over the next decade alone—together with concomitant new employment opportunities across both societies.