Prime Minister Narendra Modi held back-to-back power-packed meetings with top global CEOs of five firms as part of his overseas visit to the United States. Modi interacted with CEOs of Qualcomm, Adobe, First Solar, General Atomics and Blackstone.
Experts say the meetings have the potential to bring in huge investments into India in the aftermath of economies ravaged by the Kovid-19 pandemic across the world. Meetings with international industry leaders indicate a positive change as India moves towards greater opportunities in key sectors.
Here’s what the talks can bring to India:
Qualcomm CEO: 5G, Semiconductors and India’s New Drone Policy
Prime Minister met for the first time Qualcomm CEO Cristiano R. Amon. Amon, President and CEO of Qualcomm Incorporated, a multinational firm developing services related to semiconductors, software and wireless technology, expressed his enthusiasm to work with India on ambitious digital transformation programs including 5G, PM Vani (Prime Minister Wi-Fi Access) did. Network Interface Scheme) and others, government sources said.
Qualcomm currently has a large presence in India, which includes research and development.
• At the meeting, Amon talked about the “incredible opportunities” in India. He said that India is a large market, but that the firm also sees the country as a large export market. “This is the right time for India to not only manufacture the Indian market, but also plan to cater to the needs of other countries,” he said, sources said.
• Sources said Amon also expressed interest in partnering with India to work in the field of semiconductors.
• The Prime Minister assured Amon that India would actively work on the proposals made by him. Modi stressed that India has scale for many ambitious projects, adding that the country has set 5G standards, and urged Qualcomm to actively participate as he did in the case of NAVIK.
• PM Modi also said that since Qualcomm has already relied on Indian talent, it can now start manufacturing with the benefit of PLI scheme. During the meeting, the PM also talked about the new liberal drone policy and said that Qualcomm can participate in the new opportunities in the newly emerging market.
Adobe: ‘Animation for every child in India’
Modi next meeting Adobe Chairman Shantanu Narain. Founded in 1982, Adobe or formerly Adobe Systems Incorporated is a multinational computer software corporation headquartered in Redmond, Washington. It is behind well-known software like Adobe Illustrator, or Adobe Acrobat. Narayan has been the President, President and Chief Executive Officer (CEO) of Adobe since December 2007.
“PM Modi believes technology is the way to help things move forward.” Mr. Shantanu Narayan, Chairman, Chairman and CEO @adobe He shared what he discussed with PM Modi during their meeting. pic.twitter.com/4uovM0kRF4
— PMO India (@PMOIndia) September 23, 2021
• Government sources said Narayan appreciated India’s efforts in fighting COVID and especially in rapid vaccination.
• He expressed his desire to contribute to the 75th anniversary of India’s independence and said that he wants to bring videos, animations to every child in India, sources said.
• The Prime Minister said that it is important to bring smart education to every child and this makes technology very important. Sources said that he said that the foundation of digital education has been laid in the Kovid era and we should move forward now.
• Both the Prime Minister and CEO of Adobe emphasized on creating some centers of excellence in Artificial Intelligence in India.
First Solar: ‘Promoting Solar Energy in India’
PM Modi negotiated With First Solar CEO Mark Widmar. First Solar is a solar panel manufacturer as well as a manufacturer of utility-scale PV power plants and related services.
• Mark Widmar expressed happiness over Indian policies for climate change and related industries, government sources said.
• The Prime Minister spoke about the ‘One World, One Suraj and One Grid’ initiative and its potential. He mentioned India’s ambitious target of 450 GW of renewable energy. He also emphasized on India’s focus on manufacturing for solar energy and said that companies in the solar energy sector can take maximum advantage of India’s PLI schemes.
• Modi also told about India’s Green Hydrogen Mission.
• Both the CEO and the PM agreed to increase the manufacturing of solar in India. Sources said that this will also benefit the countries of the region.
Normal Nuclear: ‘Dedicated Drone Hub Can Be Made in India’
Prime minister discussed With General Atomics CEO Vivek Lal. General Atomics is a research and development-focused American energy and defense firm. World renowned scientist Lal has taken over as the CEO of the firm with effect from June 1 last year.
• Lal said India’s policies and reforms in the field of drones are laudable, government sources said.
• The Prime Minister talked about India’s liberal drone policy and the opportunity in manufacturing due to the PLI scheme. Lal also said that India is an attractive destination for manufacturing of drones. He also said that a dedicated drone hub could be created in India to support the entire ecosystem of drones, the sources said.
• India’s space reforms were appreciated by Vivek Lal, sources said.
Blackstone: ‘Will Ramp Up Investments’
Finally Prime Minister Narendra Modi Held a meeting With Blackstone CEO Stephen A. Schwarzman.
According to government sources, Schwarzman said the firm has had the best market for investment in the world.
• Schwarzman talks about Blackstone’s investment in India and their plans to grow it further.
• The Prime Minister noted that there is great scope for further expansion of Blackstone’s partnership in India and elaborated on the reforms undertaken in India. Sources said he specifically talked about asset monetization and bad banks.
• Schwarzman said that he is very optimistic about India’s potential and added that it is one of the fastest growing countries in the world. He also appreciated the reforms undertaken by India.
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