Narendra Modi arrives in the US on his first official state visit with India’s geopolitical clout higher than at any point since he took power in 2014. He’ll be looking to leverage that to become an indispensable partner for American tech ambitions.
The trip will be a high-profile affair, complete with a banquet at the White House and an address to the US Congress, making Modi the first Indian prime minister to speak in front of the legislature twice. Besides meeting US President Joe Biden, he caught up with private-sector leaders including Tesla Inc.’s Elon Musk, who said he’s planning to visit India next year.
High on the agenda will be removing regulatory constraints to doing business, particularly in the tech space. As the Biden administration seeks to prevent China from obtaining advanced chips and other technology, the US and India are working on ways to promote semiconductor manufacturing in India, according to officials aware of details who asked not to be named since discussions were private.
Modi’s ambition for India to become a player in chip manufacturing looks far more credible today, after US imports of chips from the South Asian nation multiplied more than 38 times in the first quarter. Apple Inc. tripled iPhone production in India over the past fiscal year as it seeks to reduce its reliance on Beijing, while memory maker Micron Technology Inc., which is under investigation in China, is close to receiving government approval on a $1 billion semiconductor plant.
The technological cooperation with the US is also spilling over to defense. General Electric Co. and Hindustan Aeronautics are set to sign an agreement during Modi’s visit to produce engines for India’s fighter jets. The two sides will have a flexible licensing agreement allowing for the transfer of technology.
It worked: Hon Hai plans a $700 million plant for iPhone parts and Samsung Electronics Co. is also looking to expand production. Modi’s trip comes at a pivotal time for India’s tech ecosystem, where a new digital law is being crafted in consultation—and sometimes in conflict—with big names like Google, Meta Platforms Inc. and Twitter. Draft legislation expected within weeks will help determine exactly how big an opportunity India presents to overseas players.
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