News Brief
PM Modi Meets Business Tycoons, Quad Leaders In The US Visit; Terrorism, Climate Change, Indo-Pacific In Focus
PM Modi in US (Pic Via Twitter)
Yesterday (23 September), Prime Minister Narendra Modi began his first visit to the United States (US) in two years.
Meeting Business Leaders
He met with CEOs of Fortune 500 companies in the morning. He met with the CEOs of five companies that have invested in India or have significant investment potential: semiconductor and wireless technology manufacturer Qualcomm, renewable energy company First Solar, software company Adobe, energy systems and arms manufacturer General Atomics, and investment management company the Blackstone Group.
Technology, energy and defence were the focus of PM Modi’s talks with the industry heads. He reportedly discussed technology, especially artificial intelligence, at the meeting with Adobe, as well as the “ever changing nature of media” and start-ups.
Modi’s discussion with Qualcomm CEO Cristiano Amon included semiconductors and 5G technology.
“If you look at it from a year-on-year basis, American investments coming into India is growing substantially. India needs $100 billion investment annually to achieve its objective of being a $5 trillion economy. At the moment, the number is close to $70-75 billion annually, so the appetite is tremendous, and it is tied closely to the de-risking of supply chains from China and as the economic prosperity of India increases, so does the allure of the Indian market and hence the alacrity of American investors,” Mukesh Aghi, president and CEO, US India Strategic Partnership Forum was quoted as saying by The Hindu.
Meeting Political Leaders
In the afternoon, PM Modi attended bilateral meetings with US Vice-President Kamala Harris; Japanese prime minister Yoshihide Suga; and Australian prime minister Scott Morrison.
During her maiden meeting with PM Modi, Harris "suo motu" referred to Pakistan's role in terrorism, and asked Islamabad to take action so it does not impact America and India's security.
"India and America are natural partners. We have similar values, geopolitical interests," PM Modi said in a joint media appearance with Harris. "I am confident that under President Biden and your leadership our bilateral relations will touch new heights," he added. He also called Harris "a source of inspiration for many people in world" and invited her to visit India.
"I welcome India's announcement that it will soon be able to resume vaccine exports. It is particular note & admiration that India is currently vaccinating approximately 10 million people a day as of today," said Harris.
The PM and Suga had a "fruitful meeting" and the two leaders discussed ways to boost trade and cultural ties and further cement the bilateral strategic relations ahead of the first in-person Quad meeting.
Official Spokesperson, Ministry of External Affairs, India, Arindam Bagchi in a tweet said that the meeting marked another chapter in India's Comprehensive Strategic Partnership with Australia. He mentioned that both the leaders discussed regional and global developments as well as ongoing bilateral cooperation in areas related to COVID-19, trade, defence, clean energy and more.
Earlier, Morrison had called PM Modi to brief him about the plan to go ahead with the Australia, UK and US (AUKUS) alliance.
US India Comprehensive Partnership and Quad
Planned for today are bilateral talks with US President Joe Biden on a ‘Comprehensive Global Strategic Partnership’. Both leaders will discuss a range of issues, including Afghanistan, counter-terrorism, trade and climate cooperation.
Another important event for today is the Quad summit with Biden, Suga and Morrison. No large diaspora events are scheduled due to the COVID-19 pandemic. Apart from Chinese aggressions in the Indo-Pacific, the four leaders are also expected to discuss climate change, COVID-19 response and cyber security.
On the importance of the Quad summit, Aghi said, “It is significant because to preserve the freedom of global rules and laws of operations, it is important that the four democracies coalesce and support each other, and they are collaborating on areas of alternative technology, on de-risking of supply chains, on healthcare, on 5G technology, on cybersecurity, so it is a collaboration that is a win-win situation for the world itself.”
Today, PM Modi will leave for New York and address the UN General Assembly tomorrow.
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