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Clinton and other officials are expected to spell out the new administration's policy for India, with whom the US President has favoured "deep" strategic relations.
India, on the other hand, would be represented by its Commerce Minister and some of its leading corporate leaders, including Azim Premji and Anil Ambani.
Besides Clinton, the United States Government would be represented by its Secretary of Commerce Gary Locke and US Trade Representatives Ambassador Ron Kirk at the day-long deliberations between the corporate leaders of the two countries at the 34th annual convention of the USIBC.
The US officials are expected to articulate the policies of the Obama Administration towards India and set the ball rolling for the rest part of Obama's current tenure.
In the first five months of its governance, the Obama Administration had to wait for the elections in India to be over. Now that the new government has occupied its seat in New Delhi the White House does not want to waste any time and it now seems to be all set to put the relationship on fast track.
The summit will be followed by Clinton's visit to India in July. Several other top officials too are expected to visit India in the months that follow. Later this week, US Under Secretary of State Williams Burns is travelling to New Delhi and Mumbai to prepare the ground work for the Clinton's travel.
"With the historic elections in both countries now behind us, USIBC aims to 'bang the pots and pans' and awake both governments as to the real work that now needs to be completed in order to keep the US-India commercial and trade relationship flourishing," USIBC President Ron Somers said.
The two-day summit in Washington, DC will focus on the opportunities that will flow from inherent synergies bolstering the world's two largest free-market democracies, the USIBC said in a statement.
Besides Azim Premji and Anil Ambani, and several other prominent corporate leaders a high-level Confederation of Indian Industry (CII) executive mission being led by its new president, Venu Srinivasan and CII's Chief Mentor Tarun Das would be attending the summit.
Led by Pepsi's Indra K Nooyi, top US corporate leaders too would be presented in full strength at the annual USIBC meet. Nooyi is the chairman of USIBC.
"Azim Premji will be felicitated for his Global Vision, possesses the capabilities and skills to articulate how global sourcing is a positive force," Somers said adding that the summit will also honour Anil Ambani for his exemplary Global Leadership.