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PM Modi meets Scott Morrison ahead of Quad, talks to top CEOs about investments

Per week after Australia’s Prime Minister Scott Morrison rang Prime Minister Narendra Modi to inform him in regards to the Australia-UK-US (AUKUS) pact that was going to be introduced, the 2 leaders met in Washington DC on Thursday.

The assembly occurred a day earlier than the first-in-person Quad leaders’ summit, which might be hosted by US President Joe Biden.

The official spokesperson of the Ministry of Exterior Affairs Arindam Bagchi tweeted, “One other chapter in our Complete Strategic Partnership with Australia!”

He mentioned Modi and Morrison mentioned “regional & international developments in addition to ongoing bilateral cooperation in areas associated to Covid-19, commerce, defence, clear vitality & extra.”

The Prime Minister’s official deal with tweeted, “Advancing friendship with Australia…They mentioned a variety of topics aimed toward deepening financial and people-to-people linkages between India and Australia.”

The Prime Minister will meet with US Vice President Kamala Harris and Japan’s outgoing PM Yoshihide Suga within the early hours of Friday, India time.

On Friday night 8.30 pm IST — 11 am in Washington DC — Modi will meet President Biden on the White Home, which might be adopted by the Quad leaders’ summit.

Moreover Indo-Pacific technique, the leaders are anticipated to debate the state of affairs in Afghanistan, Covid vaccines, resilient international provide chains, local weather change, and new and rising applied sciences.

A pact or framework on international provide chains — with a watch on China — is anticipated to be adopted by the Quad leaders after the high-profile summit.

This would be the signature occasion of the go to, which is anticipated to happen at 11.30 pm India time on Friday.

The Quad summit is going down inside days of the US, UK, and Australia signing a brand new trilateral safety alliance for the Indo-Pacific in an try and counter China’s rising assertiveness within the area.

Unveiling the bold safety initiative, President Biden, UK Prime Minister Boris Johnson, and Australian Prime Minister Scott Morrison had mentioned in a joint assertion that the pact would promote stability within the Indo Pacific, and assist their shared values and pursuits.

The pact, named AUKUS (Australia, UK, US), will assist Australia purchase nuclear-powered submarines to counter China’s rising energy within the strategically very important area.

India has mentioned that Quad and AUKUS are “not groupings of the same nature”, and since India is just not a celebration to AUKUS, it’s neither related nor will it have any influence on the Quad.

The Modi-Biden assembly might be their first in-person assembly since Biden assumed workplace in January this yr, though they’ve spoken thrice since November, and took part in digital summits thrice.

Earlier on Thursday, Prime Minister Modi started his US go to with a sequence of conferences with high executives of Qualcomm, Adobe, First Photo voltaic, Normal Atomics and Blackstone.

He mentioned funding alternatives in India’s electronics and telecommunications sectors with Cristiano Amon, CEO of Qualcomm. This included the not too long ago launched Manufacturing Linked Incentive Scheme (PLI) for Electronics System Design and Manufacturing (ESDM), in addition to developments within the semiconductor provide chain in India.

“Methods for constructing the native innovation ecosystem in India had been additionally mentioned,” an MEA assertion mentioned.

Sources mentioned Amon expressed enthusiasm about working with India on bold digital transformation programmes together with in 5G and PM-WANI, amongst others.

“It’s the proper time for India to not solely manufacture for the Indian market but additionally plan to serve the wants of different nations”, he’s learnt to have mentioned.

Amon additionally expressed curiosity in partnering with India within the area of semiconductors. Sources mentioned the Prime Minister assured him that India will proactively work on the proposals made by Qualcomm.

At his assembly with Shantanu Narayen, president and CEO of Adobe, the PM mentioned the corporate’s ongoing collaboration and future funding plans in India.

“Discussions additionally centered on India’s flagship programme Digital India, and use of rising applied sciences in sectors like well being, training and R&D,” the MEA assertion mentioned.

The Adobe CEO expressed curiosity in contributing to the celebration of India’s 75th anniversary of independence. He expressed the will to carry video animation to each little one in India, sources mentioned.

Modi mentioned that bringing good training to each little one is vital, and that makes expertise essential. He mentioned that within the Covid period, the bottom for digital training has been laid, and it was time to maneuver ahead now, sources mentioned.

The PM and Narayen each emphasised on creating centres of excellence in AI in India.

On the PM’s assembly with Mark Widmar, CEO of First Photo voltaic, the dialogue was about India’s renewable vitality panorama, notably photo voltaic vitality potential, and the goal of producing 450 GW electrical energy from renewable sources by 2030.

“Discussions additionally occurred about First Photo voltaic’s curiosity in organising manufacturing services in India utilizing their distinctive thin-film expertise by availing the not too long ago launched Manufacturing Linked Incentive (PLI) Scheme, as nicely integrating India into international provide chains,” the MEA mentioned.

Sources mentioned Widmar expressed “happiness with the Indian insurance policies for local weather change and associated industries”.

Modi spoke in regards to the “One world, one solar, and one grid initiative, and its potential”. He referred to the goal of 450 GW of renewable vitality, and emphasised on India’s deal with manufacturing for photo voltaic vitality. He mentioned that corporations within the area of photo voltaic vitality might take essentially the most benefit of PLI schemes, sources mentioned.

In his assembly with Vivek Lall, CEO of Normal Atomics, the PM spoke about India’s liberal drone coverage, and the chance within the area of producing because of the PLI scheme.

Lall mentioned India is a pretty vacation spot for manufacturing drones. He additionally mentioned {that a} devoted drone hub could be created in India to assist the ecosystem of drones.

At his assembly with the PM, Stephen Schwarzman, CEO of Blackstone, spoke about Blackstone’s funding in India, and the corporate’s plans to ramp it up additional.

Sources mentioned Modi mentioned there’s enormous scope for additional growth of Blackstone’s partnership in India, and elaborated on the reforms carried out within the nation. He particularly spoke in regards to the asset monetisation and dangerous financial institution initiatives.

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