In terms of technology, the American chip manufacturer Micron Technology will invest $825 million in a new $2.75 billion chip testing and assembly plant in the Indian state of Gujarat. The American semiconductor toolmaker Applied Materials is also investing $400 million over four years in a new technology center in India.
President Joe Biden and Prime Minister Narendra Modi at the White House on June 22.
India has agreed to join the US-led Mineral Security Partnership (MSP) initiative to create supply chains for critical minerals. Indian company Epsilon Carbon will invest $650 million to build a factory for electric vehicle battery components, employing over 500 people over five years. According to the White House, once approved, this facility will be India's largest investment in the US electric vehicle battery industry. The two sides also launched and signed cooperation agreements related to advanced technologies in telecommunications, space, quantum computing and artificial intelligence, and fiber optics.
Meeting with Prime Minister Modi, President Biden praised the new era in US-India relations.
In the defense sector, the American company General Electric signed an agreement with the Indian state-owned company Hindustan Aeronautics to manufacture F414 engines in India. According to Reuters, these engines will be used in fighter jets of the Indian Air Force. New Delhi also approved a plan to purchase 31 MQ-9B SeaGuardian armed drones from General Atomics (USA). In another notable agreement, US Navy warships will be able to use service and repair facilities at several Indian ports.
On the other hand, the US State Department will facilitate the renewal of visas for Indian workers in the US, while both sides have also announced plans to open more consulates in each other's cities.
Source link
Comment (0)