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Prime Minister Narendra Modi held back-to-back power-packed meetings with top global CEOs of five firms as part of his foreign visit to the United States. Modi held talks with the Chief Executive Officers of Qualcomm, Adobe, First Solar, General Atomics, and Blackstone.
Experts say the meetings hold a potential to bring huge investments to India after the Covid-19 pandemic ravaged economies across the world. The meetings with the international industry leaders signal a positive shift as India pushes towards more opportunities in key sectors.
Here is what the talks could bring to India:
Qualcomm CEO: 5G, Semiconductors and India’s New Drone Policy
The Prime Minister first met Qualcomm CEO Cristiano R Amon. Amon, the president and CEO of Qualcomm Incorporated, a multinational firm that develops semiconductors, software, and wireless technology-related services, expressed enthusiasm to work with India on ambitious digital transformation programmes including in 5G, PM WANI (Prime Minister’s Wi-Fi Access Network Interface Scheme) and others, government sources said.
Qualcomm currently has a huge presence in India, including Research and Development.
• In the meeting, Amon spoke about the “incredible opportunities” in India. He said India is a big market, but that the firm also views the country as a big export market. “It’s the right time for India to not only manufacture for the Indian market, but also plan to serve the need of other countries,” he said, sources said.
• The sources said Amon also expressed interest in partnering with India to work in the field of semi-conductors.
• The Prime Minister assured Amon that India would proactively work on the proposals made by them. Modi stressed that India has the scale for many ambitious projects, adding that the country has prepared 5G standards, and urged Qualcomm to actively participate as they did in case of NAVIK.
• PM Modi also said that since Qualcomm has trusted Indian talent already, it can now start manufacturing with the advantage the PLI scheme offers. During the meeting, the PM also spoke about the new liberalised drone policy and said that Qualcomm could take part in new opportunities in the new emerging market.
Adobe: ‘Animation to Every Child in India’
Modi next met Adobe Chairman Shantanu Narayen. Founded in 1982, Adobe or formerly Adobe Systems Incorporated is a multinational computer software corporation headquartered in Redmond, Washington. It is behind famous softwares such as Adobe Illustrator, or Adobe Acrobat. Narayen has been the chairman, president, and chief executive officer (CEO) of Adobe since December 2007.
“PM Modi believes that technology is the way to help things move forward.”Mr. Shantanu Narayen, Chairman, President and CEO of @Adobe shares what he discussed with PM Modi during their meeting. pic.twitter.com/4uovM0kRF4
— PMO India (@PMOIndia) September 23, 2021
• Government sources said Narayen appreciated the efforts of India in fighting COVID and particularly in the rapid vaccination.
• He expressed interest to contribute in India’s 75th anniversary of independence, and said he wanted to bring video, animation to every child in India, the sources said.
• The PM said that bringing bring smart education to every child is important and that makes technology very important. He said that in the COVID era, the ground for digital education has been laid and we should move forward now, sources said.
• The PM and CEO of Adobe both emphasised on creating few centres of excellence in Artificial Intelligence in India.
First Solar: ‘Enhancement of Solar Energy in India’
PM Modi held talks with First Solar CEO Mark Widmar. First Solar is a solar panel manufacturer as well as a producer of utility-scale PV power plants and related services.
• Mark Widmar expressed happiness with the Indian policies for climate change and related industries, government sources said.
• The Prime Minister spoke about the ‘One world, one sun and one grid’ initiative and its potential. He referred to India’s ambitious target of 450 GW of renewable energy. He also emphasised on India’s focus on manufacturing for solar energy and said that Companies in the field of solar energy can take maximum advantage of India’s PLI schemes.
• Modi also spoke about India’s green hydrogen mission.
• CEO and PM both agreed on enhancement of the manufacturing of Solar in India. This will also benefit the countries in the region, sources said.
General Atomics: ‘Dedicated Drone Hub Can be Created in India’
The Prime Minister held discussions with General Atomics CEO Vivek Lall. General Atomics is a research and development-focused American energy and defence firm. Lall, a world renowned scientist, took over as CEO of the firm since June 1 last year.
• Lall said that India’s policies and reforms in the field of drones are laudable, government sources said.
• The Prime Minister spoke about India’s liberal drone policy and the opportunity in the field of manufacturing due to PLI scheme. Lall also said that India is an attractive destination for manufacturing of drones. He also said that a Dedicated drone hub can be created in India to support the entire eco system of drones, sources said.
• India’s Space reforms were appreciated by Vivek Lall, sources said.
Blackstone: ‘Will Ramp Up Investments’
Prime Minister Narendra Modi lastly held a meeting with Blackstone CEO Stepehn A Schwarzman.
According to government sources, Schwarzman said has been the firm’s best market for investment in the world.
• Schwarzman talked about Blackstone’s investment in India and their plans to further ramp it up.
• The PM said that there is huge scope for further expansion of Blackstone’s partnership in India and elaborated on the reforms done in India. He specifically spoke about Asset Monetisation and Bad Bank, sources said.
• 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 that reforms undertaken by the India.
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