Prime Minister Narendra Modi addresses a rally in Washington DC | Photo credit: ANI

Prime Minister Narendra Modi’s visit to the United States will strengthen bilateral relations and deepen strategic technology collaboration in areas including defence, semiconductors, space and artificial intelligence, India Inc said on June 24. .

Prime Minister Modi left for Egypt on June 24 after concluding his state visit to the United States, during which he met with President Joe Biden and addressed the joint session of the Congress.

CII Director General Chandrajit Banerjee said the visit resulted in laying a solid foundation for further strengthening India-US relations.

“A new chapter has been added to the partnership which will see much stronger collaboration in strategic technology collaboration, including defence, semiconductors and space and in emerging technology sectors like AI and quantum, advanced materials, biotechnology and telecommunications,” Mr. Banerjee said.

He observed that the visit is also significant as we see new areas where industry on both sides would significantly benefit from the results.

“It also creates an enabling environment for the private sectors on both sides to flourish in the spirit of true partnerships. This visit is particularly important as it would help create a bigger manufacturing game in India, FDI flows and naturally more jobs,” Banerjee said.

Another industry body, Assocham, said the Prime Minister’s visit had taken India-US strategic and commercial relations to greater heights, paving the way for immense business opportunities. bilateral commitment.

“”The Prime Minister’s visit is seen as a turning point in India-US relations in a rapidly changing global order that would see the two countries emerge as the most influential economies with strategic prowess in the developing international political economy” “said Assocham’s secretary. said General Deepak Sood.

He observed that while Mr Modi demonstrated India’s soft power by participating in International Yoga Day at the United Nations headquarters in New York, the Prime Minister’s personal chemistry with President Biden at the White House demonstrated the shared cultural values ​​of the two largest democracies in the world.

“In his inspirational address to the Joint Session of the US Congress, Modi told the world about the substantial and comprehensive progress that India has made in the areas most critical to our country and the world,” Mr. Sood said.

He added that the Make In India initiative has started yielding dividends in the electronics and strategic defense manufacturing space, as evidenced by the deal between GE Electric and Hindustan Aeronautics for the manufacture of engines. fighter jets in India.