E-Paper
PM Modi's US visit: New H1-B visa rules, defence and space — list of mega deals
PM Narendra Modi USA Visit: Joe Biden and Narendra Modi will announce a series of defence and commercial deals to improve military and economic ties.
US President Joe Biden aims to herald the start of stronger ties with India on Thursday by announcing a series of defence and trade agreements with Prime Minister Narendra Modi as Washington attempts to counter China's global influence.
Top announcements during PM Modi's US visit:
1. Modi and Biden will sign off on what one official called a “trailblazing” deal to allow General Electric Co (GE.N) to produce jet engines in India to power Indian military aircraft. GE said on Thursday it signed a memorandum of understanding with Hindustan Aeronautics Ltd to produce the engines.
2. In addition, US Navy ships in the region will be able to stop in Indian shipyards for repairs under a maritime agreement reached between the two governments. Both leaders will also announce India's plan to procure US-made armed MQ-9B SeaGuardian drones. "We have now entered really a 'next generation' defence partnership," said a US official.
3. The agreements will include US chipmaker Micron Technology's (MU.O) $2.7 billion plan for a new semi-conductor testing and packaging unit, to be built in Gujarat.
4. The US is also set to introduce in-country renewable H-1B visas, a significant decision that would help thousands of Indian professionals in staying in the country to continue with their jobs without the hassle of travelling overseas for the renewal of their work visas.
5. Additional announcements include Indian plans to sign the Artemis Accords, a framework signed by two-dozen nations — but not Russia or China — governing joint missions and civilian space exploration. Modi met with SpaceX chief Elon Musk in New York on Tuesday.
6. NASA and the Indian Space Research Organisation or ISRO have also agreed to a joint mission next year to visit the International Space Station.
