Winning Bizness Desk
Mumbai. The much-awaited American visit of the country's Prime Minister Narendra Modi has come to an end. Entire country had high hopes from this tour and it seems Modi has lived the expectations of the country.He has done many such deals for the country, which will give a boost to manufacturing in India. The country will move forward in the field of semiconductors. With being strong in the defense sector, it will create lakhs of employment opportunities in the country. Tesla will come to the country in the coming days. First of all, let's talk about Google which is going to invest 10 billion dollars to increase digitization in India. Amazon has also agreed to invest $ 15 billion. Along with this, America's biggest chip company is also going to do a deal of more than two and a half billion dollars in Gujarat. Such deals can be very important for India in the coming years.
Semiconductor deal: American memory chip company Micron Technology will invest up to $825 million in Gujarat for chip assembly and testing facility. The memory chip company said the total investment in the facility would be $2.75 billion. Out of that total, 50 percent will come from the Government of India and 20 percent from the Government of Gujarat. The company said that this investment will generate 5,000 new direct jobs.
Fighter jet plane deal: General Electric has signed an agreement with Indian company Hindustan Aeronautics Limited (HAL) to manufacture engines for the Tejas light fighter plane as part of an effort to improve defense and technology. Together they will make the F414 engine.
Tesla will come to India: On the other hand, in the US tour, India's PM Narendra Modi has met the world's richest businessman and Tesla CEO Elon Musk. After this meeting, Musk has agreed to set up Tesla's manufacturing unit in India. It is expected that Elon Musk can invest 3 to 5 billion dollars in India. Work on this can start by next year.
Google will invest 10 billion dollars: Google CEO Sundar Pichai has met PM Modi. After which he said that he is going to invest 10 billion dollars to promote digitization in India. Along with this, Google will also open its fintech center in Gift City, Gujarat.
Solar energy investment: A new venture backed by Indian solar panel maker Vikram Solar Ltd said on Thursday it will invest up to $1.5 billion in the US solar energy supply chain, starting with a factory in Colorado next year. VSK Energy LLC company will help America in clean energy manufacturing sector to compete with China.
Visa deal: The US is likely to make it easier for Indians to live and work in the United States. The Biden administration has agreed to introduce renewable H-1B visas in the country. This decision will help thousands of Indian professionals living in the country to continue with their jobs without the hassle of traveling abroad to renew their work visas.
Amazon to invest $ 15 billion
After his meeting with Prime Minister Narendra Modi, Amazon CEO Andrew Jesse announced that Amazon has already invested $11 billion in India. Now he is planning to invest an additional 15 billion, taking his total investment to a remarkable $26 billion. These funds will be used to create more employment opportunities, digitize small and mid-sized businesses.
Critical Mineral Partnership
India has joined the Mineral Security Partnership, a US-led partnership to build critical mineral energy supply chains. Apart from the European Union, India will join 12 other partner countries. Under this deal, India's Epsilon Carbon Limited will invest $650 million in a greenfield electric vehicle battery component factory, hiring more than 500 employees over five years.