Modi's US visit: How Gujarat will benefit from PM's state trip
Industry leaders hailed Prime Minister Narendra Modi's US visit. Prime Minister Narendra Modi’s US visit has resulted in some big investments for Gujarat.Modi, who was previously chief minister of Gujarat, recently made his first state visit to the United States.How Gujarat will benefit from Modi’s visit? What does this mean for the state?Let’s take a closer look:Micron’s massive investmentUS chip maker Micron announced during Modi’s visit that it would invest up to $825 million in a new chip assembly and test facility in Gujarat.According to The Print, the development followed after a meeting between Modi and Micro Technology CEO Sanjay Mehrotra.This will be Micron’s first such plant in India.The firm, which is listed on NASDAQ and is one of the world’s largest semiconductor manufacturers, said its total investment in the facility – with support from the Centre and the state – will be around $2.75 billion.Of that total, 50 per cent will come from the Centre and 20 per cent from the state of Gujarat.Micron said construction of the new facility in Gujarat is expected to begin in 2023 and the first phase of the project will be operational in late 2024. A second phase of the project is expected to start toward the second half of the decade, it said. The two phases together will create up to 5,000 new direct Micron jobs.According to The Print, the facility will likely create around 5,000 new jobs as well as 15,000 jobs in the local community in the next few years.India Today reported that around 500 highly-skilled engineering jobs will also likely be created.“We are excited about the steps India is taking to develop the local semiconductor ecosystem,” Mehrotra was quoted as saying by The Print. “I am grateful to the Indian government and all of the officials involved that made this investment possible. Our new assembly and test location in India will enable Micron to expand our global manufacturing base and better serve our customers in India and around the world,” he added.Union Railways, Communications, Electronics and IT Minister Ashwini Vaishnaw was quoted as saying: “Micron’s investment to set up assembly and test manufacturing in India will fundamentally transform India’s semiconductor landscape and generate tens of thousands of high-tech and construction jobs.”“This investment will be a crucial building block in the country’s blossoming semiconductor ecosystem,” Vaishnaw further said.MoS IT Rajeev Chandrasekhar said the latest investment proposal by Micron to set up a plant in India will boost the semiconductor ecosystem in India.Chandrasekhar was quoted as saying by ANI: “In the last 18 months, India has progressed significantly in the semiconductor industry. American companies’ announcements will also help promote startups in India.”Micron said it zeroed in on Gujarat for its manufacturing infrastructure, ease of doing business and well-established talent pipeline in the SANAND Industrial Park (Gujarat Industrial Development Corporation – GIDC).Google goes big Meanwhile, Google said it will open a global fintech operation center in GIFT City in Gujarat.Gujarat International Finance Tec-City is a central business district under construction in Gandhinagar district.Modi, on the final day of his Washington trip, met with US and Indian technology executives, including Apple’s Tim Cook, Google’s Sunder Pichai and Microsoft’s Satya Nadella and appealed to global companies to “Make in India”.The company said its teams would work on operations supporting its payment service GPay, and other product operations at Google.Pichai added that Modi’s vision for Digital India serves as a blueprint for other countries.Pichai after meeting PM Modi, said, “It was an honour to meet PM Modi during the historic visit to the US. We shared with the Prime Minister that Google is investing $10 billion in India’s digitisation fund.”According to India Today, GIFT City was envisioned by Modi when he was chief minister in 2007.“Google’s announcement is certainly the most promising one for the ambitious project that has been waiting in the wings for 15 years,” the piece noted.The piece also noted that Gujarat is set to host the Vibrant Gujarat Global Summit in January 2024.The previous two editions were cancelled due to COVID.“The latest investment announcements will help project Gujarat as the manufacturing fountainhead of cutting-edge technologies. Technology-driven investment is already being projected as the cornerstone of the upcoming summit,” the piece noted.Industry hails visitThe Indian business industry has hailed the results of Modi’s visit to the US.Speaking to ANI, chairman Mahindra Defence and Aerospace, SP Shukla on PM Modi’s US visit said: “…It’s a trend-setting visit. PM Modi addressing US Congress for the second time sends out a very important message that the two nations wish to work together. The message goes to the industrial community, business, community, and policymakers and intent starts getting translated into action. Both leaders have clearly specified that technology will be the cornerstone of the partnership…”Federation of Indian Chambers of Commerce & Industry (FICCI) president, Subhrakant Panda, said PM Modi’s landmark visit to the US has been very successful with several substantive outcomes relating to semiconductors defence acquisitions, access to critical technology, the Artemis Accord for space cooperation and the resolution of six outstanding trade disputes.“I’m very confident that this is the start of a new chapter in the bilateral relationship with mutual trust and convergence of views on strategic issues. It will benefit not just the two nations but the world at large. As the prime minister said the future is AI America and India…,” he said.Former FICCI president Harsh Pati Singhania called PM Modi’s US visit historic.“The strategic accords concerning semiconductors, defence, space collaboration and research issues are pathbreaking and significant. India will gain from the technology of the United States and make itself much more self-reliant. And the US will benefit from the number of jobs and other new opportunities that arise out of this partnership. We from industry are very excited to see what lies ahead and for the great opportunities for development, cooperation and further economic growth between our two nations..” he said.Modi has visited the US five times since taking the reins of the country in 2014 but his recent visit is his first with the full diplomatic status of a state visit, indicating the strengthening bond between Washington and New Delhi.Confederation of Indian Industry (CII) President R Dinesh on the PM’s visit said: “MSMEs are the backbone of our country’s growth. MSMEs finding a mention in the joint statement between India & US is a significant development. We welcome this & thank the PM for it. The expanse & depth with which the approach has been made by PM has never been seen before.”Edelweiss Group founder & former President FICCI, Rashesh Shah, said: “This was one of the most important events, economically & geopolitically. In the last 2-3 yrs, this entire change in Geopolitics, the China Plus One strategy, plus India has also improved a lot. I think our physical infrastructure, digital infrastructure have come a long way. Success stories like Adhaar & UPI have become global benchmarks. This trip has put the switch on to make India more attractive to global businesses & global investors….”But not everyone is thrilled.Shiv Sena Sanjay Raut on Saturday slammed Modi’s visit to the United States.Raut, tagging Maharashtra deputy chief minister Devendra Fadnavis, tweeted: Is this true Devendraji? Modiji went to the US and made only one investment contract, for his own state of Gujarat. Maharashtra received nothing. Is Mumbai really the country’s financial capital?With inputs from agenciesRead all the Latest News, Trending News, Cricket News, Bollywood News, India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram. Updated Date: June 27, 2023 15:30:56 IST TAGS: The Stryker armoured vehicles refer to a family of eight-wheel-drive combat machines that have been deployed by US in Iraq and Afghanistan. Experts say these vehicles are designed to transport and deliver infantry squads and allow for mobility in ‘ugly, restricted environments’ of cities Both the countries will also explore pathways for start-ups to access each other's respective research and development (R&D) centers and innovation labs to support start-up collaboration. The Indian diaspora warmly greeted PM Modi upon his arrival in New York, marking the beginning of his first official state visit to the US Network18 sites Copyright © 2023. Firstpost - All Rights Reserved.