The leaders are putting a spotlight on the “Innovation Handshake,” a new initiative aimed at addressing regulatory hurdles that stand in the way of cooperation between the two countries and promoting job growth in emerging technologies.
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.“This is definitely a guarantee for a bright future,” Modi added.
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.