U.S. reaffirms support for India's NSG membership, commits $500 million for renewable fund

It details specific agreements and ongoing initiatives aimed at strengthening bilateral ties and addressing global challenges.

Who it concerns: The agreement involves the governments of India and the United States, specifically affecting ministries (Defence, Electronics and Information Technology, Biotechnology), sectors (semiconductors, telecommunications, defense, space, renewable energy, biotechnology), and named entities including ISRO, NASA, GE Aerospace, Hindustan Aeronautical Limited (HAL), Microchip Technology, Advanced Micro Device, Micron, LAM Research, Applied Materials, Bharat 6G Alliance, Next G Alliance, IIT Council, Association of American Universities, and the U.S. Navy.

What was agreed

• Midterm review of the India-U.S. Initiative on Critical and Emerging Technology (iCET) in September 2023.
• ISRO and NASA discussions for a joint effort to the International Space Station in 2024 and a strategic framework for human space flight cooperation by end of 2023.
• Microchip Technology investment of approximately US$300 million in India for R&D expansion.
• Advanced Micro Device investment of US$400 million in India over five years for R&D and engineering operations.
• Signing of an MoU between Bharat 6G Alliance and Next G Alliance and establishment of Joint Task Forces for Open RAN and 5G/6G R&D.
• Establishment of the India-U.S. Global Challenges Institute with a combined initial commitment of at least US$10 million.
• Negotiations for a commercial agreement between GE Aerospace and HAL to manufacture GE F-414 jet engines in India.
• Signing of a second Master Ship Repair Agreement between the U.S. Navy and Mazgaon Dock Shipbuilders, Ltd.
• Procurement of 31 General Atomics MQ-9B remotely piloted aircraft by India.
• India’s National Investment and Infrastructure Fund and the U.S. Development Finance Corporation providing up to US$500 million each to anchor a renewable infrastructure investment fund.
• Joint support for the procurement of 10,000 made-in-India electric buses.

Also in the document

• The United States reaffirmed support for India's membership in the Nuclear Suppliers Group.
• A specific commitment to procure 31 General Atomics MQ-9B drones (16 Sky Guardian and 15 Sea Guardian) was welcomed.
• A financial commitment of up to US$500 million from each country's development finance arm to anchor a renewable infrastructure investment fund.
• A combined initial commitment of at least US$10 million for the new India-U.S. Global Challenges Institute.