After rolling out the White House red carpet for Indian Prime Minister Narendra Modi on Thursday, President Joe Biden hailed a new era in the US-India relationship, touting deals on defence and commerce to counter China’s global influence.
Biden told reporters at a joint press conference with Modi that the partnership is “stronger, closer, and more dynamic than at any time in history,” and the economic relationship is “booming,” with trade more than doubling over the last decade.
“A trade and investment partnership between India and the United States is critical not only for our two countries, but also for the global economy,” Biden said. “We have decided to resolve long-pending trade-related issues and start over,” he said.
After the two leaders emerged from Oval Office talks in which their differences on Russia and human rights were discussed, Modi touted “a new chapter” in the countries’ “strategic partnership.”
Washington sees India as a critical strategic counterweight to China, though some analysts and former officials question India’s willingness to stand up to Beijing collectively on issues such as Taiwan. In Moscow’s war in Ukraine, Washington has been frustrated by India’s close ties with Russia.
In the aftermath of strained relations with neighbouring China, Modi is attempting to increase India’s, the world’s most populous country with 1.4 billion people, influence on the global stage.
“We have also decided that, in the face of global uncertainties, India and America will, as trusted partners, build reliable, secure, and resilient global supply chains and value chains,” he added.
Biden believes the benefits of engaging with the world’s most populous democracy during increased tensions with rival China outweigh the costs and risks.
“The challenges and opportunities that the world faces in the twenty-first century require India and the United States to work and lead together, and we are,” Biden said as he welcomed Modi to the White House.
A cappella group Penn Masala performed renditions of songs by American group Maroon 5 and from movies starring Bollywood superstar Shah Rukh Khan at a morning ceremony at the White House.
Following Modi’s speech to Congress, Biden will host the Indian leader for a glittering state dinner on Thursday evening.
US- modi agreements
According to Biden administration officials, sweeping agreements on semiconductors, critical minerals, technology, space cooperation, defence cooperation, and sales will usher in a new era in bilateral relations.
Some aim to diversify supply chains to reduce reliance on China. Others attempt to monopolise advanced technologies that may be used on future battlefields.
The US has also sought to counter China’s growing influence in the Indo-Pacific region by strengthening defence ties with India, Japan, Australia, South Korea, and other Pacific and Southeast Asian countries.
Here’s a list of deals that have been or will be announced:
General Electric (GE) and India’s state-owned Hindustan Aeronautics Ltd (HAL) have signed an agreement to jointly manufacture engines for the Indian Air Force.
The historic agreement is the most significant of all the announcements thus far, as it shows that the US is willing to grant India access to critical American technologies such as F414, which it rarely shares with non-allies.
The agreement is significant for India because it can help it meet its target of using homemade jets powered by homemade engines to keep costs under control and avoid becoming dependent on a foreign supplier.
The F414 GE engine in question has been used by US Navy aircraft for more than 30 years. HAL powers its indigenous light combat aircraft called “Tejas” with the F414’s predecessor. India is currently working on the next-generation Tejas 2, powered by the F414. The same engine will power India’s next-generation Advanced Medium Combat Aircraft.
Under a maritime agreement, US Navy ships in the region can stop in Indian shipyards for repairs, and India will purchase armed MQ-9B SeaGuardian drones made in the US.
Micron Technology, a US chipmaker, will invest more than $800 million in a new $2.75 billion semiconductor assembly and test facility to be built in Modi’s home state of Gujarat.
RajkotUpdates.News: Government May Consider Levying TDS TCS on Cryptocurrency Trading
Yahoo Finance: Your One-Stop Source for Financial News, Data, and Analysis
World News Times: The Most Comprehensive News Site on the Earth!