PM Modi's 'Innovation Handshake'
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PM Modi's 'Innovation Handshake'
From Google's $10 billion investment to space collaborations, explore the outcomes of PM Modi's 'Innovation Handshake' with tech giants.
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In a dynamic fusion of innovation and collaboration, Indian Prime Minister Narendra Modi embarked on a visionary mission, engaging in a power-packed rendezvous with tech titans from Google, Apple, and Microsoft.
With the "Innovation Handshake" initiative as their guiding force, they explored the realms of artificial intelligence, semiconductor production, space exploration, and beyond.
Amidst this enthralling meeting of minds, PM Modi unveiled India's groundbreaking initiatives to surmount regulatory obstacles hindering a transformative partnership with the United States.
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 digitization 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 honor 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 digitization 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
India signed on to the Artemis Accords on the space front, 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 most prominent investors in India.
"Very interested in helping create more jobs, helping digitize 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, 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.
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