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Tuesday, October 3, 2023

PM Modi’s Official Visit Strengthens Indo-US Relations and Tech Investments

The discussions resulted in a significant tech deal that includes capital investments and technical cooperation aimed at supporting Indian technology

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INDIA/UNITED STATES: The Indo-US relationship has reached new heights with the recent official visit of Prime Minister Narendra Modi. This visit has extended the bars of cooperation and collaboration between the two nations.

Under the flagship of the ‘Innovation Handshake’ initiative, PM Modi engaged in productive discussions with CEOs of leading tech giants, including Google, Apple, Microsoft, and Amazon, exchanging valuable thoughts and exploring investment opportunities in India.

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The discussions resulted in a significant tech deal that includes capital investments and technical cooperation aimed at supporting Indian technology. This collaboration will play a pivotal role in driving digital transformation, promoting local language content, creating employment opportunities, and boosting the export of Indian products on a global scale.

One of the key outcomes of these meetings is Amazon’s commitment to investing an additional $15 billion in India over the next seven years. This substantial investment will bring Amazon’s total investment across all its businesses in India to $26 billion, demonstrating its long-term commitment to the country’s growth and potential. 

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Additionally, Google announced its plans to establish a global fintech operation center in Gujarat, a move that highlights its recognition of India’s thriving fintech ecosystem.

During his meeting with PM Modi, Microsoft Chairman, and CEO Satya Nadella discussed the future of technology, particularly Artificial Intelligence (AI), and its potential to improve the lives of Indians. 

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Microsoft’s statement emphasized its dedication to supporting the growth of Indian technology, acknowledging India as a hub for vibrant developers and startups that impact both the local market and global markets.

In a reassuring gesture, Amazon CEO Andy Jassy affirmed the company’s support for Indian startups, job creation, increased exports, and the empowerment of small businesses on the global stage. 

Amazon’s official release highlighted its commitment to digitize 10 million small businesses, enabling $20 billion in exports and generating 2 million jobs in India by 2025. Encouragingly, Amazon India has already made significant progress in these areas, having digitized over 6.2 million small businesses, facilitated over $7 billion in exports, and created more than 1.3 million direct and indirect jobs.

The successful discussions and commitments made during PM Modi’s visit not only strengthen the bond between India and the United States but also pave the way for enhanced technological advancements and mutually beneficial collaborations. 

With investments pouring in and tech giants pledging their support, India’s technology sector is poised for exponential growth, opening new avenues for innovation, job creation, and economic development.

Also Read: PM Narendra Modi Delivers Inspiring Address to US Congress, Strengthening Bilateral Ties


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