1. Home
  2. Current Affairs
  3. Current News
  4. India-US Deals

India-US Deals

  • 23 Jun 2023

On June 22, 2023, during Prime Minister’s visit to the United States several key announcements and deals were made, highlighting the strengthening of bilateral relations between India and the United States.

Major Highlights

  • Co-production of GE 414 Jet Engines: General Electric (GE) and Hindustan Aeronautical Limited (HAL) signed an MoU for the co-production of GE 414 Jet Engines in India, supporting the development of the Tejas Mk2 light combat aircraft.
  • The agreement marks a significant milestone in India's defense sector, showcasing the commitment of both countries to enhance defense capabilities and promote strategic cooperation.
  • The collaboration demonstrates the progress made in overcoming bureaucratic obstacles, with U.S. officials expressing satisfaction with the deal's development.
  • Investment by Micron Technology in Gujarat: Micron Technology, a U.S. semiconductor technology and chip maker, plans to invest up to $825 million in a new chip assembly and test facility in Gujarat, India.
  • Purchase of Armed Drones: India revealed its potential purchase of armed drones, indicating a significant step in enhancing its defense capabilities and strengthening its security infrastructure.
  • Launch of 'INDUS-X' Innovation Platform: The Defense Ministries of both countries launched the innovation platform 'INDUS-X.' This platform aimed to promote collaboration in defense industries, fostering innovation, technological advancements, and mutual cooperation in the defense sector.
  • Space Cooperation: India joined a framework involving 25 countries for space exploration and collaboration.
  • This participation showcased India's commitment to space exploration and its growing role in international space missions.
  • Additionally, India and the United States agreed on a framework for human spaceflight and planned a joint mission to the International Space Station in 2024, reflecting their shared aspirations in space exploration.
  • Visa Renewal Pilot Program: The United States announced a pilot program to facilitate visa renewals domestically for certain petition-based temporary workers.
  • This program aimed to streamline the visa renewal process, providing convenience and efficiency for applicants.