Ravi Kumar, CEO of Cognizant, told CNBC-TV18 that India and the US have been witnessing a remarkable inflection point in their bilateral trade and collaboration. Notably, the trade partnership in manufacturing goods and commodities has surged to an impressive $150 billion, positioning India as a significant eighth or ninth partner for the US.

A separation might not ultimately take place, the Financial Times report said, citing people familiar with the matter, with one of them saying listing the entity in Shanghai was also possible.

PM Modi and US President Joe Biden are also expected to discuss the co-production of munitions as well as ground vehicles such as armoured personnel carriers during the former's official visit to US next week, sources told news agency Reuters.

Honeywell CEO Vimal Kapur emphasised the potential for collaboration in the fields of computing and cybersecurity, besides high technology defence manufacturing and climate change.