PM Modi's US Visit: It’s 'raining' business in Washington
By Team Newsable | First Published Jun 22, 2023, 10:55 PM ISTWhile the long-term sustainability remains to be assessed, the deals signed by India and the United States undeniably provide an immediate boost to stimulating growth in the defence and critical technology sectors. Dr Krishna Kishore, Asianet News Chief Correspondent in the United States, reports.
Amidst all the pomp and grandeur celebrating the State Visit of Prime Minister Narendra Modi to the United States, the two sides have been working relentlessly over the past few months to ink several deals with tangible outcomes. Both President Biden and Prime Minister Modi continue to reiterate the strategic relationship between the two countries and how the friendship is moving to another dimension, but let us look at six key areas where there will be some tangible impact.
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Co-creation of technology is the new operating ‘mantra’ of both countries -- invest in an ecosystem that leverages the human capital and technology prowess of both countries to create lasting impact. Let us take a look at the areas where the two countries are cooperating.
Deal 1: General Electric-HAL MoU for Jet Engines
The agreement includes the potential joint production of GE Aerospace’s F414 engines in India. The effort is part of the Indian Air Force’s Light Combat Aircraft Mk2 program. The F414 engines will equip India’s efforts to ramp up its arsenal of Tejas MK2 aircraft. GE will initially supply the new engines and then will do technology transfer to jointly manufacture the jet engines in India.
Deal 2: Joint ISRO-NASA Space Mission 2024
NASA and ISRO have agreed to a joint mission to the International Space Station in the year 2024. Both entities will also develop a strategic framework for human spaceflight cooperation this year.
Deal 3: India to sign US Artemis Accord
Grounded in the 1967 Outer Space Treaty, the Artemis Accords is a non-binding international agreement, designed to guide civil space exploration and use. Currently, 26 nations have signed the accord. Spearheaded by the United States, the Artemis Accords aim to facilitate the human return to the moon by 2025, as a pivotal step towards advancing space exploration to encompass Mars and other celestial destinations in the future. China and Russia will be miffed by India’s decision to be part of the Artemis Accords.
Deal 4: Creation of a semiconductor ecosystem
Indian and US companies will join hands to create an ecosystem for semiconductors that promotes supply chain diversification. Specifically, Micron Technology, in partnership with the Indian National Semiconductor Mission, has revealed plans for a significant investment exceeding $800 million. Micron’s Indian-origin CEO Sanjay Mehrotra is bullish on India’s potential to be part of the semiconductor ecosystem.
Applied Materials, a major US manufacturer, has also unveiled plans for the establishment of a semiconductor centre focused on commercialization and innovation within India. This initiative aims to upskill up to 60,000 Indian engineers.
India and US have signed an agreement on AI and quantum technologies.
Deal 5: Open Radio Access Network
India and US are also working together on Open Radio Access Network (RAN) systems. Both countries will be announcing partnerships on open ran, field trials, and rollouts, including scale deployments in both countries with operators and vendors of both markets. This will have funding from the US International Development Finance.
Deal 6: New Consulate in Seattle
In addition, both countries will expand their diplomatic outposts -- India will open a new consulate in Seattle, bringing the number of Indian consulates in the US to six. Reciprocally, the US will open two new consulates one each in Bengaluru and Ahmedabad.
The sustainable impact of these deals needs to be seen, but in the short term, it provides a fillip to spurring growth in the defence and critical technology areas.
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