Amid persistent pressure imposed by the US on its allies to sidestep China’s Huawei, Indian Prime Minister Narendra Modi has urged American businessmen to become partners in his country’s next generation infrastructure development.
“Opportunities in technology also include opportunities in the frontier technologies of 5G, Big data analytics, Quantum computing, Block-chain and Internet of things,” Modi said while addressing the US-India Business Council event by video conference.
Modi also mentioned that India’s civil aviation sector requires over 1,000 aircraft in the coming decade, adding that it is providing big opportunities to aircraft manufacturers to set up their facilities in India.
Modi underlined that each year India is reaching record highs in Foreign Direct Investment (FDI), adding that FDI inflows in India in 2019-20 were $74 billion, which is an increase of 20% over the previous year. He highlighted that even during the pandemic, India has attracted foreign investment of more than $20 billion - between April and July this year.
Washington has claimed Beijing uses the firm's equipment for spying which is denied by Huawei, which has offered to sign a “no-spy” agreement with India.
In the past week, Huawei has faced setbacks in the UK and France as both two countries made U-turns and restricted access to Huawei's 5G technology due to national security concerns.