Modi In America: From Defence To IT, Know Why Interaction With Global CEOs Assumes Significance

The Prime Minister's meeting with American CEOs from five different key areas is reflective of the priorities of his government.

PM Modi is on a 3-day visit to America and he will interact with top 5 CEOs on day 1.

New Delhi: Prime Minister Narendra Modi, who has arrived in the US for his three-day visit to the United States will be holding several high-profile interactions, including meetings with President Joe Biden and Vice President Kamal Harris.

Modi will also participate in a summit of the Quad leaders and address the United Nations General Assembly (UNGA).

The PM will highlight economic opportunities in India during his meetings with CEOs. In this aspect on Thursday, Modi will meet top five American CEOs including Indian Americans -- Shantanu Narayen from Adobe and Vivek Lall from General Atomics. The other three are Cristiano E Amon from Qualcomm, Mark Widmar from First Solar, and Stephen A Schwarzman from Blackstone.

Here’s why meeting with American CEOs holds significance

The Prime Minister's meeting with American CEOs from five different key areas is reflective of the priorities of his government.

Strengthening military capabilities: The company holds significant as the company is not only the pioneer in military drone technologies but it is also the world's top manufacturer of state-of-the-art military drones, which the US shares only with its key allies and partners.

Jakarta-born Vivek Lall, now based out of California, has remained a significant partner and instrumental in executing major bilateral defence deals worth around $18 billion, as India and the US took steps to forge a new relationship in which defence trade is a key pillar.

Moreover, India is in the process of procuring a significant number of drones for the three branches of its armed forces. Aprt from this, a few drones has been leased from General Atomics.

A major push to IT sector:  The meeting with chip giant Cristiano Amon assumes significance, given India's push for the 5G technology to be safe and secure.

The San Diego-based company creates semiconductors, software, and services related to wireless technology. A world leader in 3G, 4G, and next-generation wireless technology innovations for more than 30 years, Qualcomm is now pioneering its way to 5G with a new era of intelligent products that are revolutionising industries, including automotive, computing, and IoT.

Besides, India is eyeing major investment from Qualcomm. Lastly, Adobe showcases the IT and digital priority that the Indian government is pushing for.

 Achieving renewable energy targets

As India is taking gigantic steps in the use of solar power to meet its energy needs, the meeting with Mark Widmar is important as First Solar is a leading global provider of comprehensive photovoltaic ( PV ) solar solutions, which use its advanced module and system technology.

Early this summer, the Arizona-based company announced to add 3.3 GW of capacity in a new facility in India at an estimated cost of USD684 million.

Pushing investment

Stephen A. Schwarzman is Chairman, CEO and Co-Founder of Blackstone, one of the world's leading investment firms investing capital on behalf of pension funds, large institutions and individuals.

In March this year, Blackstone announced that funds managed by Blackstone Real Estate have acquired Embassy Industrial Parks from Warburg Pincus and Embassy Group, in one of India's largest logistics transactions.

Next, he is scheduled to meet President Joe Biden, Vice President Kamala Harris, Prime Ministers Scott Morrison from Australia and Yoshihide Suga from Japan.

(With inputs from PTI)