The following is a roundup of the foremost bulletins:
Visas
The Biden administration will make it simpler for Indians to dwell and work within the United States. The State Department might announce as quickly as Thursday {that a} small variety of Indians and different international staff on H-1B visas will have the ability to renew these visas within the US with out having to journey overseas, one supply stated, a part of a pilot program that could possibly be expanded in coming years.
The United States intends to open new consulates in Bengaluru and Ahmedabad. India is opening a brand new consulate in Seattle this yr and can quickly announce two new consulates within the United States.
Chipmaker to put money into India
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US reminiscence chip agency Micron Technology stated on Thursday it might make investments as much as $825 million in a brand new chip meeting and take a look at plant in Gujarat, its first manufacturing unit in India. Micron stated that with assist from the central authorities and from the state of Gujarat, the full funding within the plant will likely be $2.75 billion. Of that, 50% will come from the central authorities and 20% from the state of Gujarat. US semiconductor toolmaker Applied Materials (AMAT.O) will make investments $400 million over 4 years in a brand new engineering heart in India, the corporate stated on Thursday.
Trade
United States Trade Representative Katherine Tai stated the 2 nations have agreed to terminate six excellent disputes on the World Trade Organization. India additionally agreed to take away retaliatory tariffs, which it had imposed in response to the US Section 232 nationwide safety measures on metal and aluminum, on US merchandise, together with chickpeas and apples.
Critical minerals
India joined the Minerals Security Partnership (MSP), a US-led partnership to create crucial vitality minerals provide chains. India will be a part of 12 different associate international locations, plus the European Union.
India’s Epsilon Carbon Limited will make investments $650 million in a greenfield electrical car battery element manufacturing unit, hiring over 500 staff over the course of 5 years.
Solar energy funding
A brand new enterprise backed by Indian photo voltaic panel maker Vikram Solar Ltd (VIKO.NS) stated on Thursday it should make investments as much as $1.5 billion within the US photo voltaic vitality provide chain, starting with a manufacturing unit in Colorado subsequent yr. The newly fashioned firm, VSK Energy LLC, will help the US push to construct a clear vitality manufacturing sector to compete with China.
Fighter jets
General Electric’s aerospace unit stated on Thursday it has signed an settlement with India’s state-owned Hindustan Aeronautics Ltd to make fighter jet engines for the Indian Air Force. The “historical” settlement contains the potential joint manufacturing of GE Aerospace’s F414 engines in India and the engines will likely be used to energy Tejas fighter jets, GE stated.
Drones
India’s protection ministry has accepted the procurement of armed MQ-9B SeaGuardian drones, sources instructed Reuters earlier this month. India will purchase 31 drones made by General Atomics price barely over $3 billion.
The MQ-9Bs will likely be assembled in India, a joint assertion stated, and US producer General Atomics can even set up new facility in India.
Space
India agreed to affix the US-led Artemis Accords on area exploration and to work with NASA on a joint mission to the International Space Station in 2024.
Advanced computing
India and the United States established a Joint Indo-US Quantum Coordination Mechanism to facilitate joint analysis between the private and non-private sectors throughout each international locations.
Source: economictimes.indiatimes.com