Applied Materials will soon be announcing an innovation centre in India that will focus on innovation equipment, its president and CEO Gary E Dickerson said after his meeting with Prime Minister Narendra Modi in Washington, DC today (IST). The meeting was part of PM Modi's scheduled interactions with top CEOs during his State visit.

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"We have a very high confidence that working together with India, we can create tremendous success," Dickerson said.

#WATCH | Washington, DC: Applied Materials president & CEO, Gary E. Dickerson, says "I am just so impressed with India and I believe that the opportunity for India’s growth in the semiconductor industry is now. This is India’s time to drive incredible growth. India is a trusted… pic.twitter.com/jtV2W7YtBi

— ANI (@ANI) June 21, 2023

The PM invited Applied Materials to contribute to strengthening the semiconductor ecosystem and development of process technology and advanced packaging capabilities in India, Ministry of External Affairs spokesperson Arindam Bagchi said in a tweet. The PM also invited Applied Materials for development of process technology and advanced packaging capabilities in India. PM Modi and Dickerson discussed the potential of Applied Materials’ collaboration with academic institutions in India to create skilled workforce as well.

President & CEO of @Applied4Tech, Mr. Gary E. Dickerson, had a meeting with PM @narendramodi in Washington DC. They discussed ways to strengthen the semiconductor ecosystem in India. pic.twitter.com/y34TIcwtuh

— PMO India (@PMOIndia) June 22, 2023

Dickerson said now is the opportunity for India to grow in the semiconductor industry.

"I am just so impressed with India and I believe that the opportunity for India’s growth in the semiconductor industry is now. This is India’s time to drive incredible growth," he said.

He added that India is a trusted partner. "Many countries around the world see the trust and tremendous talent that India has. I deeply believe this is India’s time to shine," he said.

PM Modi, who arrived in Washington D.C on June 21, also met with Micron Technology President and CEO Sanjay Mehrotra. Mehrotra said he had an excellent meeting with PM Modi and he was very impressed with his vision for India. Ahead of the PM's first State visit to the US, the Indian cabinet gave its approval to Micron Technology's plan to invest $2.7 billion in setting up a semiconductor testing and packaging unit in Gujarat, India, on Tuesday, June 20.

Tesla and SpaceX CEO Elon Musk was among the first top CEOs to meet PM Modi in New York, before he flew to Washington, D.C. The PM invited him to explore investment opportunities in India.

Prime Minister Modi is visiting the United States on the invitation of the US President Joe Biden and First Lady Jill Biden. PM Modi's US visit marks his sixth trip to the country since coming to power in May 2014, but this is his first state visit. Modi is likely to meet 15-20 CEOs over the course of three days, with the meetings taking place in the afternoons of June 20, 21, and 23.

For LIVE updates on PM Modi's visit to the US, follow CNBC-TV18 here. To check out our full coverage, check here.

First Published:Jun 22, 2023 6:58 AM IST