Why PM Modi is meeting CEOs of Qualcomm, Adobe, First Solar, General Atomics and Blackstone in US.
PM Modi in US: On the first day of his 4-day US visit, Prime Minister Narendra Modi is scheduled to meet CEOs of give global companies. From Solar energy, drone and 5G technologies to capital investment, PM Modi's separate interaction with top executives will focus on making India a 'manufacturing hub' of the world. PM Modi's meeting with American CEOs from five different key areas is reflective of the priorities of his government.
Notably, among the five CEOs with whom PM Modi will hold one-o-one meetings two are Indian Americans - Shantanu Narayen from Adobe and Vivek Lall from General Atomics. Cristiano E Amon from Qualcomm, Mark Widmar from First Solar, and Stephen A Schwarzman from Blackstone are the other three top executives who would be meeting the Indian Prime Minister in Washington today.
While Narayen reflects the IT and digital priority that the Indian government is pushing for, Modi’s meeting with Lall is significant as General Atomics is not only the pioneer in military drone technologies but also the world’s top manufacturer of state-of-the-art military drones, which the US shares only with its key allies and partners.
Eye on Latest Drone, 5G Technology:
India is in the process of procuring a significant number of drones for the three branches of its armed forces. It has also leased a few drones from General Atomics.
Jakarta-born Vivek Lall, now based out of California, for over a decade has been instrumental in major bilateral defence deals worth around USD18 billion, as India and the US take steps to forge a new relationship in which defence trade is a key pillar.
The meeting with chip giant Cristiano Amon assumes significance, given India’s push for the 5G technology to be safe and secure. The San Diego-based company creates semiconductors, software, and services related to wireless technology.
A world leader in 3G, 4G, and next-generation wireless technology innovations for more than 30 years, Qualcomm is now pioneering its way to 5G with a new era of intelligent products that are revolutionising industries, including automotive, computing, and IoT. India is looking for a major investment from Qualcomm.
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Focus on Solar Energy:
As India is taking gigantic steps in the use of solar power to meet its energy needs, the meeting with Mark Widmar is important as First Solar is a leading global provider of comprehensive photovoltaic (“PV”) solar solutions, which use its advanced module and system technology.
Early this summer, the Arizona-based company announced to add 3.3 GW of capacity in a new facility in India at an estimated cost of USD684 million.
Big Capital Investment:
Stephen A Schwarzman is Chairman, CEO and Co-Founder of Blackstone, one of the world’s leading investment firms investing capital on behalf of pension funds, large institutions and individuals.
In March this year, Blackstone announced that funds managed by Blackstone Real Estate have acquired Embassy Industrial Parks from Warburg Pincus and Embassy Group, in one of India’s largest logistics transactions.
(With PTI inputs)
