PM Modi in US: What Indian Inc get from 'Innovation Handshake' with Google, Apple, Amazon, Microsoft, other CEOs | Mint
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Business News/ News / India/  PM Modi in US: What Indian Inc get from 'Innovation Handshake' with Google, Apple, Amazon, Microsoft, other CEOs
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PM Modi in US: What Indian Inc get from 'Innovation Handshake' with Google, Apple, Amazon, Microsoft, other CEOs

PM Modi US visit: Google CEO Sundar Pichai announced that his company will invest $10bn in India's digitisation fund

PM Modi US visit: Micron Technology has agreed to build a $2.75bn semiconductor assembly and test facility in India, while Amazon CEO Andrew Jassy expressed his commitment to generating additional employment opportunities in the country. (AP)Premium
PM Modi US visit: Micron Technology has agreed to build a $2.75bn semiconductor assembly and test facility in India, while Amazon CEO Andrew Jassy expressed his commitment to generating additional employment opportunities in the country. (AP)

PM Modi US visit: In a bid to enhance Indo-US cooperation on artificial intelligence, semiconductor production, space, and other tech segments, Indian Prime Minister Narendra Modi met executives of various tech giants. Under the flagship 'Innovation Handshake' initiative, PM Modi met CEOs of Google, Apple, Microsoft, and other tech giants. In these meetings, PM Modi highlighted the new initiatives taken by the Indian government to address regulatory hurdles that stand in the way of a partnership between the two countries.

Here we list out what India received from PM Modi's US visit and 'Innovation Handshake' with CEOs of US-based technology majors:

Google to invest $10 billion in India

After meeting Narendra Modi in Washington, DC on Friday, Google and Alphabet CEO Sundar Pichai said that Google is investing $10 billion in India's digitisation fund, adding that PM Modi's vision for Digital India serves as a blueprint for other countries.

Google CEO Sundar Pichai after meeting PM Modi said, "It was an honour to meet PM Modi during the historic visit to the US. We shared with the Prime Minister that Google is investing USD 10 billion in India's digitisation fund."

Micron Technology to build semiconductor center in India

Micron Technology has agreed to build a $2.75 billion semiconductor assembly and test facility in India, with Micron spending more than $800 million and India financing the rest. US-based Applied Materials will launch a new semiconductor center for commercialization and innovation in India, and Lam Research, another semiconductor manufacturing equipment company, will start a training program for 60,000 Indian engineers.

ISRO-NASA joint mission

On the space front, India signed on to the Artemis Accords, a blueprint for space exploration cooperation among nations participating in NASA’s lunar exploration plans. NASA and the Indian Space Research Organization also agreed to make a joint mission to the International Space Station next year.

GE-HAL deal

In a major announcement coinciding with PM Modi's US visit, GE Aerospace announced that it has signed a Memorandum of Understanding (MoU) with Hindustan Aeronautics Limited (HAL) to produce fighter jet engines for the Indian Air Force. The agreement includes the potential joint production of GE Aerospace's F414 engines in India. GE-HAL MoU to produce fighter jet engines for IAF is a major milestone amidst PM Modi's official state visit to the United States and a key element in strengthening defense cooperation between the two countries.

Amazon to create job opportunities in India

Amazon CEO Andrew Jassy expressed his commitment to generating additional employment opportunities in India after meeting PM Narendra Modi in Washington DC. Notably, Amazon is one of the biggest investors in India.

"Very interested in helping create more jobs, helping digitise more small and medium size businesses and helping more Indian companies and products be able to be exported all around the world," said Jassy adding, “We have already invested 11 billion dollars, with an intention to invest another 15 billion dollars bringing the total to 26 billion dollars."

Recently, a top Amazon official said that the E-commerce giant plans to invest $15 billion more in India, taking its total investment in the country to $26 billion.

(With inputs from agencies)

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
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Published: 24 Jun 2023, 08:17 AM IST
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