According to Union Minister Smriti Irani, the visit of Prime Minister Narendra Modi to the United States produced important results in the partnership on vital minerals, renewable energy, and military.
“Prime Minister’s visit to the United States resulted in significant outcomes in areas such as defence, renewable energy and critical minerals cooperation. India and US cracked several deals on Space and Defence. MoU on Semiconductor Supply Chain and Innovation Partnership will not only promote research but also business opportunities,” said Smriti Irani.
The Memorandum of Understanding (MoU) on semiconductor supply chain and innovation partnership will promote not only research but also commercial opportunities, Union Minister Smriti Irani said on Friday while outlining the various Memorandums of Understanding (MoU) signed by US President Joe Biden and Prime Minister Narendra Modi.
“Microone Technology Inc. will invest 825 billion dollars to build a new semiconductor assembly and test facility in India with the support of the Indian government,” Union Minister Smriti Irani said while addressing a press conference on Friday.
Union Minister Irani informed that the combined investment between Microone Technology Inc. and the Indian government is valued at 2.7 billion dollars.
“The Prime minister’s visit to the United States has resulted in significant outcomes in the areas of defence, cooperation with regard to strategic technology, a partnership in renewable energy and also critical minerals cooperation,” she added.
“NASA and ISRO will develop a strategic framework for human space flight cooperation, by the end of 2023. A joint Indo-US quantum coordination mechanism will also help facilitate collaboration between industry, academia, and government,” she informed on the NASA ISRO project to send human spaceships by 2024.
Irani further informed that a two million dollar grant program for joint development and commercialization of artificial intelligence, and quantum technologies was launched.
“An MOU between General Electric and Hindu Aeronautics Limited (HAL) for the manufacture of GES 414 jet engines in India, is an MOU which is being hailed across the country,” she added.
She also mentioned that a network of universities, startups, businesses, and think tanks called the India-US Defence Acceleration Ecosystem had been established.
This ecosystem will support the co-production of cutting-edge defence technology between Indian and American industries.
She said that a “pro-planet” Prime Minister has helped actualize India, US’ new and emerging renewable energy technologies action platform. The launch of this platform will accelerate cooperation in green hydrogen offshore and onshore wind and other emerging technologies, she said.
“India has announced the world’s largest green hydrogen mission, and this platform will complement that very Indian ambition. India now has become the newest partner in the mineral security partnership, which will help accelerate the development of diverse and sustainable critical energy mineral supply chains,” Irani said regarding the steps taken by the two leaders to control energy transmission.
Smriti Irani also said that this is the era of dialogue and diplomacy. The oldest democracy through dialogue and diplomacy has yet again delivered for the people of India and it is best enunciated in the recent partnerships between India and US.