PM Modi In US: Semiconductor, Jet Engine, Space Deals Sealed In Boost To Indo-American Ties

Prime Minister Narendra Modi's state visit to the was marked by several deals to boost the economy and relations between both nations.

PM Modi being greeted by US President Joe Biden at the White House.

Source : PTI

Prime Minister Narendra Modi, who is on his maiden state visit to the United States, is overseeing several major deals. Among these deals, is the historic GE-HAL defence deal and the civil space exploration agreement. India and US are also likely to announce changes in visa processing procedures to make it easier for skilled workers from India to renew their work permits. PM Modi, during the state visit, met several CEOs, economists, and scientists. He also thanked US President Joe Biden for his hospitality.

Here are the highlights of the deals that have been agreed upon so far during PM Modi's visit:

Micron Technology Assures $800 Million Investment In Gujarat

Ahead of Prime Minister Modi's state visit to the US, the Cabinet approved computer storage chip maker Micron Technology's $2.7 billion plan for a semiconductor testing and packaging unit. During his visit, Modi met with Micron CEO Sanjay Mehrotra and extended an invitation to the company to enhance semiconductor manufacturing in India. The company will set up a semiconductor assembly and test plant in Gujarat. The plant will receive financial support from the Indian government and the state of Gujarat. 

"Micron Technology, with support from the Indian National Semiconductor Mission, announced an investment of more than $800 million that together with additional financial support from the Indian authorities up to a $2.75 billion semiconductor assembly and test facility in India," a senior US administration officials.

India To Sign Artemis Accords For Civil Space Exploration

PM Modi's visit will also see the signing of the Artemis Accords for civil space exploration. Under this agreement, NASA and ISRO (Indian Space Research Organisation) will collaborate on a joint mission to the International Space Station in 2024, according to the White House. The Artemis Accords, based on the Outer Space Treaty, aim to guide space exploration and cooperation.  The Artemis Accords are a non-binding set of principles that guide civil space exploration. It is a US-led effort to return humans to the moon by 2025, and ultimately expand the scope of space exploration to Mars and beyond.

New Missions In Bengaluru, Ahmedabad, Seattle To Boost Ties

The US will open consulates in Bengaluru and Ahmedabad, while India plans to establish a mission in Seattle to enhance people-to-people connections, according to a White House official. Last year, the US issued a record 1,25,000 visas to Indian students, with a 20% increase in the Indian student community. Additionally, the US Department of State will pilot a programme to process renewals of certain work visas domestically, including those for Indians. India currently has consulates in five US cities.

GE, HAL Sign Fighter Jet Deal

During Prime Minister Narendra Modi's US State visit, GE Aerospace and Hindustan Aeronautics Limited (HAL) signed an MoU to produce fighter jet engines for the Indian Air Force (IAF). The agreement includes the potential joint production of GE Aerospace's F414 engines in India as part of the IAF's Light Combat Aircraft (LCA) Mk2 programme. GE Aerospace is currently working with the US government for export authorization. H Lawrence Culp Jr, CEO of GE Aerospace, highlighted the economic and national security benefits of the collaboration. GE Aerospace's involvement in India is expected to expand with offerings for the LCA Mk1 and Mk1A aircraft, as well as the AMCA programme.

Reaper Drone Deal To Boost India's Defence Capabilities

India and the United States will announce a significant deal for the purchase of General Atomics MQ-9 "Reaper" armed drones, according to the White House. The acquisition of these drones will enhance India's national security and surveillance capabilities in the Indian Ocean and along the China border. The MQ-9 "Reaper" offers increased payload capacity and horsepower compared to its predecessor, the MQ-1 Predator, and provides long-endurance surveillance and strike capabilities. The drones have an endurance of over 27 hours, speeds of 240 KTAS, and can operate at altitudes of up to 50,000 feet. The deal, valued at around $3 billion, is expected to be announced following discussions between Prime Minister Narendra Modi and President Joe Biden.