Indian Prime Minister Narendra Modi completed a four-day state visit to the United States recently.
Many of the discussions were very strategic and futuristic to develop mutual capabilities for both the countries.
For a long time, SFO and its subsidiaries have been a registered Federal Vendor to almost 150 Federal Agencies in USA.
We are pleased to be involved in financing / executing / developing several of these mutual business outcomes decided in the recent visit and few as listed below.
- The Biden administration promised to help India increase production of electric vehicles and meet its goal of installing 500 gigawatts of wind, solar, and other renewable energy this decade.
- U.S. memory chip firm Micron Technology will invest up to $825 million in a new chip assembly and test plant in Gujarat, which will be its first factory in India.
- Indian solar panel maker Vikram Solar Limited will invest up to $1.5 billion in the U.S. solar energy supply chain.
- India has also agreed to join the U.S.-led Artemis Accords on space exploration and will work with NASA on a joint mission to the International Space Station in 2024.
- India will remove retaliatory tariffs imposed on U.S. products such as chickpeas and apples without the expectation that the United States will remove its own tariffs on steel and aluminum imports that had initially led to these retaliatory tariffs.
- Perhaps most importantly, both countries scored wins in their defense and strategic partnership.
- U.S. company General Electric has signed a memorandum of understanding with Hindustan Aeronautics Limited to produce fighter jet engines for the Indian Air Force. While the deal is subject to congressional approval, this is a huge step both for India, which can domestically manufacture fighter jets but not the engines to power them, and for the United States, which is very choosy about the sharing of military technology. Moreover, India’s defense ministry has approved the purchase of armed MQ-9B SeaGuardian drones (a type of Predator drone) made by General Atomics, which will enhance the intelligence, surveillance, and reconnaissance capabilities of India’s armed forces across domains. Currently, only some U.S. allies own Predator drones.
- The two countries also established a Joint Indo-U.S. Quantum Coordination Mechanism to facilitate joint research between public and private sectors and launched the INDUS-X partnershipto expand their strategic technology and defense industrial cooperation.
- India also agreed to join the Minerals Security Partnership (MSP), a U.S.-led partnership with twelve other countries plus the European Union, to create critical energy minerals supply chains.
■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■■
Copyright © SFO Media & Entertainment Ltd https://tinyurl.com/ykf4j53c ( Part Of SFO Group ). All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without expressed written permission of sekhonfamilyoffice.com is prohibited.