Mega India-US deals: Big-ticket defence deals, mega chip factory, new visa rules

By Lokmat English Desk | Published: June 24, 2023 02:57 PM2023-06-24T14:57:55+5:302023-06-24T14:57:55+5:30


Prime Minister Narendra Modi has signed many big agreements during his visit to America (PM Modi US Visit). These include contracts for semiconductor plants, railways, technology, drones, jet engines and space. Such an agreement has been signed between India and America.

Apart from this, the American semiconductor company Micron (US Chip Company Micron) is going to set up its plant in Gujarat. The company is going to invest 2.7 billion dollars here. During his visit to America, PM Modi held discussions with the CEOs of many companies, he made these companies in India.

GE-HAL Deal - General Electric's aerospace unit has announced an agreement with Hindustan Aeronautics Limited (GE HAL Deal). Both companies will manufacture fighter jet engines for the Indian Air Force in India. GE-HAL agreement to co-produce F414 fighter jet engine in India.

Drones - India and the US have announced a major deal on the purchase of General Atomics MQ-9 Reaper armed drones. The MQ-9 Reaper drone is vital to India's national security. Due to the deployment of these drones, the security of the country on the border of the Indian Ocean and China is assured.

Trade - Both India and the US will create global supply chains and value chains together. This will make the economy less vulnerable to adverse global conditions. Both countries have agreed to settle six pending disputes at the World Trade Organization.

Minerals - India has joined the Minerals Security Partnership (MSP). It is a US-led partnership to build a critical energy mineral supply chain. India will participate in this along with 12 other countries including the European Union.

Solar Power Investment - A new venture backed by Indian solar panel maker Vikram Solar Ltd ( VIKO.NS ) will invest up to $1.5 billion in the U.S. solar energy supply chain. The company gave this information on Thursday. A project in Colorado

Indian Railways - Indian Railways has entered into a Memorandum of Understanding with the United States Agency for International Development/India (USAID/India). Cooperation will be done on clean energy and energy efficiency measures. Apart from this, the mission is to achieve the goal of net zero carbon emissions.

iCET - This is an agreement between the US and India to protect and share complex technologies with each other. Besides this Initiative on Critical and Emerging Technologies (iCET) has also been launched.

Space - The Artemis Accords agreement was also sealed during PM Modi's US visit. It brings together like-minded countries on the issue of civil space exploration. Both NASA and ISRO have agreed on a joint operation for the International Space Station in 2024.

Advanced Computing – India and the US have established a joint India-US Quantum Coordination Mechanism to facilitate joint research in the public and private sectors of both countries. He focused on AI advanced wireless and quantum technology.

Visa- The new visa rules will make it easier for Indians to live and work in the US. Under the new rules, it is learnt, a small number of Indians and other foreign workers on H-1B visas will be able to renew those visas in the US without having to travel abroad, a source said.