Indian Prime Minister Narendra Modi’s recent visit to the United States marked a significant milestone in enhancing cooperation between India and the US in the technology sector. During his meetings with top executives of leading tech giants, PM Modi aimed to strengthen ties and address regulatory challenges hindering fruitful partnerships. Let’s explore the outcomes of PM Modi’s US visit and the ‘Innovation Handshake’ with CEOs of prominent US-based technology companies.
Google’s $10 Billion Investment in India:
During the meeting with PM Modi, Google and Alphabet CEO Sundar Pichai announced a substantial investment of $10 billion in India’s digitization fund. Pichai praised PM Modi’s vision for Digital India, considering it a blueprint for other nations. This investment by Google signifies the company’s commitment to supporting India’s digital transformation.
Amazon’s Commitment to Job Creation:
Amazon CEO Andrew Jassy reaffirmed the company’s dedication to generating employment opportunities in India. Following the meeting with PM Modi, Jassy expressed interest in assisting the digitization of small and medium-sized businesses and facilitating the global export of Indian companies and products. Amazon’s substantial investments in India, totaling $26 billion, exemplify their commitment to the country’s growth and development.
Micron Technology’s Semiconductor Center:
Micron Technology, a Global Semiconductor company, has agreed to establish a state-of-the-art semiconductor assembly and test facility in India. With a total investment of $2.75 billion, this project will contribute significantly to India’s semiconductor manufacturing capabilities. Additionally, US-based Applied Materials and Lam Research will collaborate to launch a semiconductor centre for innovation and commercialization in India, fostering technological advancements in the sector.
GE-HAL Partnership:
GE Aerospace announced a major collaboration with Hindustan Aeronautics Limited (HAL) during PM Modi’s US visit. The Memorandum of Understanding (MoU) between the two entities aims to produce fighter jet engines for the Indian Air Force. This agreement includes the potential for joint production of GE Aerospace’s F414 engines in India, signifying a crucial step in strengthening defence cooperation between the two countries.
ISRO-NASA Collaboration:
In the realm of space exploration, India has joined the Artemis Accords, a collaborative framework for lunar exploration led by NASA. This agreement paves the way for future cooperation between NASA and the Indian Space Research Organization (ISRO). Furthermore, both organisations have agreed to undertake a joint mission to the International Space Station in the coming year, further strengthening India’s space capabilities.
PM Modi’s US visit and the ‘Innovation Handshake’ with CEOs of US-based technology majors have yielded significant outcomes for Indo-US tech cooperation. The investments, collaborations, and agreements forged during this visit demonstrate the shared commitment to fostering innovation, digitization, and space exploration. These developments lay the foundation for a stronger partnership between India and the US, leading to mutual growth and advancements in the technology sector.
