During his state visit to the White House, Indian Prime Minister Narendra Modi is set to meet with several top U.S. corporate executives who are prioritizing this opportunity amid China’s faltering economy. This includes Apple CEO Tim Cook, Google CEO Sundar Pichai, Microsoft CEO Satya Nadella, and FedEx CEO Raj Subramaniam, among others, who will attend the state dinner on Thursday. The significance of the state dinner for India cannot be understated, as it is seen as a major achievement by New Delhi.
According to sources familiar with the situation, other companies with a strong presence in India, such as Marriott and Cummins, will also send their CEOs to the White House. Furthermore, the highlight of the visit will be the announcement of General Electric’s collaboration with Hindustan Aeronautics to co-produce military jet engines in India. Safiya Ghori-Ahmad of the Atlantic Council, who previously worked on the Senate Foreign Relations Committee, expects the strengthening of U.S.-India defense and security ties to be a major outcome of the trip.
In addition, General Atomics is reportedly close to finalizing a deal to sell new drones to India, which is seeking to enhance its security infrastructure. Modi’s visit to the U.S. follows an important meeting between Secretary of State Antony Blinken and Chinese President Xi Jinping in China, aimed at reducing tensions between the two largest economies. China, therefore, becomes a key focus as Modi meets with President Biden and U.S. executives.
Multiple sources have revealed that a separate meeting between Modi and tech leaders is also being planned, where discussions on technology transfer and reducing dependence on China will take place. With China’s economy slowing down and political tensions rising, American companies have been actively diversifying away from the country. For instance, Apple recently opened two retail stores in India and relocated iPhone production there. It has also been reported that Apple is considering moving some of its iPad production from China to India. However, challenges such as unskilled labor and weak infrastructure hinder the expansion of U.S. businesses in India.
Modi aims to address these concerns and encourage more U.S. companies to invest in manufacturing in India. Sources close to him have revealed that he met with Tesla CEO Elon Musk earlier this week to discuss the possibility of opening a factory in the country. Overall, Modi’s visit to the U.S. presents a significant opportunity for both countries to collaborate strategically against the backdrop of China’s rise. By strengthening economic and defense ties, both the U.S. and India hope to effectively manage the challenges posed by China’s growing power.
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