NEW DELHI: On the final day of Prime Minister Narendra Modi’s four-day state visit to the US, the two leaders put a spotlight on the “Innovation Handshake," a new initiative aimed at addressing regulatory hurdles that stand in the way of partnership between the two countries.
Modi’s visit concluded with enhanced economic ties, collaboration in manufacturing, and enhanced diplomatic presence.
He ended the trip with a triumphant speech to an auditorium of Indian-American business leaders. With Blinken sitting nearby, Modi recounted the trip's successes and highlighted ongoing agreements for India to purchase U.S.-made planes and helicopters.
President Joe Biden and Prime Minister Modi joined top American and Indian executives in talks to increase cooperation between the two countries on artificial intelligence, semiconductor production and space.
Mukesh Ambani, Anand Mahindra, Nikhil Kamath and Vrinda Kapoor were seen attending from India's side. American CEOs Satya Nadella, Sundar Pichai, Thomas Tull and Astronaut Sunita Williams were spotted too.
"India and US are united by a common destiny. When our partnership progresses, the world will be a better place,’’ said PM Modi.
PM Modi underlined the immense potential of harnessing India-US tech cooperation for socio-economic growth.
He also applauded the contribution of India’s talented youth in fostering a culture of innovation. Biden called on CEOs to help expand India-US tech partnerships to new fields including biotechnology and quantum. Both leaders underscored that the India-US partnership would play an instrumental role in building a better future for our people and for the world.
PM Modi invited Google CEO Sundar Pichai to explore further avenues of collaboration in Artificial Intelligence, fintech, cybersecurity and mobile device manufacturing in India. He also discussed a possible collaboration between Google and academic institutions in India to promote research and development and skill development.
Meanwhile, while addressing a gathering of over 1000 professionals in the US at the John F. Kennedy Centre, PM highlighted the progress made in India.
"This is the moment,’’ he said and invited the professionals to forge partnerships with India.
While addressing the diaspora, in the Ronald Reagan Centre, PM Modi said that those attending the meeting have created a mini-India as there were representatives from across all states in India who are now settled in the US.
"In the past four days I have met President Biden, CEOs of leading companies and am impressed by the India-US partnership which is based on conviction, compassion and shared commitment for a better world,’’ said PM Modi to the diaspora adding that the foundation of the partnership was the Indian diaspora.
As part of Modi's state's visit — the first by an Indian leader since Manmohan Singh in 2009 — the two leaders announced several major investments by U.S.-based companies 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. U.S.-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.
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.
Earlier this year, the two countries launched the Initiative on Critical and Emerging Technologies, which sets the path for collaboration on semiconductor production, developing artificial intelligence, and a loosening of export control rules. The initiative was critical in sealing a deal, announced Thursday, that will allow U.S.-based General Electric to partner with India's Hindustan Aeronautics to produce jet engines in India.
India has “proved that democracies can deliver and when I say deliver, this is regardless of class, creed, religion, gender," Modi declared.
Modi said the U.S. and India have been on “a long and beautiful journey” with unprecedented cooperation in defense and strategic areas as well as new trust in resolving longstanding trade issues.
He said the U.S.-India defense partnership had “reached new heights” during his visit, to the happiness of both sides.
“When I spoke to Congress about this, there was no stopping the applause in the chamber,” he said.
(With inputs from AP)