During Prime Minister Modi's recent (2023) state visit to the United States, the both sides announced the following deals - Semiconductor industry investments Semiconductor Assembly and Testing Plant to be built by the US-based company, Micron , in India by the end of 2024, and it will produce its first chip in six quarters . Semiconductor is a 'foundational technology' used in electronic appliances such as phones, computers, cars etc . Government of India has revised the incentives offered to manufacturers under the Productive Linked Incentive (PIL) scheme . Partnership in quantum and advanced computing and AI Cooperation of Jet engines in India This deal will sea 80% technology transfer by General Electric (GE) to Hindustan Aeronautics Limited (HAL) after three year of signing the contract. Previously 'Engine Development Agreement' was signed in 2012 between GE and HAL for the F414 engine . It had provided for 58% technology transfer. Under the deal, F414 ...
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