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WASHINGTON (AP) — President Joe Biden and Prime Minister Narendra Modi on Friday joined top American and Indian executives in talks to increase cooperation between the two countries on artificial intelligence, semiconductor production and space.
On the final day of Modi’s four-day state visit, the leaders put a spotlight on the “Innovation Handshake,” a new initiative aimed at addressing regulatory hurdles that stand in the way of partnership between the two countries.
WATCH: White House holds news briefing as state visit by Indian Prime Minister Modi concludes
“Our countries are taking innovation and cooperation to new levels,” Biden told the group, which included Apple CEO Tim Cook, Google CEO Sundar Pichai and Microsoft CEO Satya Nadella. “We’re going to see more technological change … in the next 10 years than we’ve seen in the last 50 years.”
White House officials say India’s deep talent pool will be crucial in building more resilient supply chains and developing technology to address climate change. All this comes as the administration has sought to put the U.S.-India relationship on a higher plane in the face of an ascendant China in the Indo-Pacific.
Modi commended Biden for seeing “the possibility that India represents.”
As part of Modi’s state’s visit — the first by an Indian leader since Manmohan Singh in 2009 — the two leaders announced several major investments by U.S.-based companies in India.
Micron Technology has agreed to build a $2.75 billion semiconductor assembly and test facility in India, with Micron spending more than $800 million and India financing the rest. U.S.-based Applied Materials will launch a new semiconductor center for commercialization and innovation in India, and Lam Research, another semiconductor manufacturing equipment company, will start a training program for 60,000 Indian engineers.
On the space front, India signed on to the Artemis Accords,