PM Modi, Joe Biden Hold 'Fruitful' Talks On Ukraine, Semiconductor Fabrication Plant, MQ-9B Aircraft Procurement

(MENAFN- Live Mint) Prime Minister Narendra Modi met with US President Joseph Biden on the sidelines of the Quad Summit in Delaware on Saturday. In a "special gesture", President Biden hosted the meeting at his home in Wilmington, the Ministry of External Affairs said.

According to the ministry, the discussions between the two leaders focused on "ways to further deepen the India-US bilateral partnership in areas of mutual interest." They also exchanged views on global and regional issues, including the Indo-Pacific region and beyond.

Following the meeting, PM Modi posted on X, "I thank President Biden for hosting me at his residence in Greenville, Delaware. Our talks were extremely fruitful. We had the opportunity to discuss regional and global issues during the meeting."

Here's what happened during the PM Modi-Joe Biden meeting (excerpts from White House release):

1. President Biden and Prime Minister Modi hailed a watershed arrangement to establish a new semiconductor fabrication plant focused on advanced sensing, communication, and power electronics for national security, next generation telecommunications, and green energy applications.

2. Biden and PM Modi welcomed progress toward the first joint effort by NASA and ISRO to conduct scientific research onboard the International Space Station in 2025. They appreciated the initiatives and exchange of ideas under the Civil Space Joint Working Group.

3. The leaders plan to mobilize up to $90+ million in US and Indian government funding over the next five years for the US-India Global Challenges Institute to support high-impact R&D partnerships between US and Indian universities and researc institutions, including through identifying options to implement the Statement of Intent signed at the June 2024 iCET meeting.

4. President Biden welcomed the progress towards India concluding procurement of 31 General Atomics MQ-9B (16 Sky Guardian and 15 Sea Guardian) remotely piloted aircraft and their associated equipment,“which will enhance the intelligence, surveillance and reconnaissance (ISR) capabilities of India's armed forces across all domains.”

5. President Biden commended Prime Minister Modi for his historic visits to Poland and Ukraine , the first by an Indian Prime Minister in decades, and for his message of peace and ongoing humanitarian support for Ukraine, including its energy sector, and on the importance of international law, including the UN charter.

6. India, US to work on projects focused on clean energy deployment to Africa, under a new initiative. The US and India are working to unlock $1 billion in new multilateral finance through the International Bank for Reconstruction and Development (IBRD) for projects that include catalyzing India's domestic clean energy supply chain buildout.

7. The leaders welcomed India's signature and ratification of the Agreements under Pillar III, Pillar IV and the overarching Agreement on the Indo-Pacific Economic Framework for Prosperity (IPEF). The Leaders underscored that IPEF seeks to advance resilience, sustainability, inclusiveness, economic growth, fairness, and competitiveness of the economies of its signatories.

8. President Biden welcomed India's decision to set a uniform Goods and Services Tax (GST) of 5 percent on the maintenance, repair, and overhaul (MRO) sector, including on all aircraft and aircraft engine parts thereby simplifying the tax structure and paving the way for building a strong ecosystem for MRO services in India.

9 . The leaders also announced a new Memorandum of Cooperation between the US Agency for International Development and the International Solar Alliance aimed at promoting more responsive and sustainable power systems that leverage diverse renewable energy sources.

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