Prime Minister Narendra Modi has a packed schedule during his upcoming US visit. This will be second time when Modi will be addressing the US Congress, something no other Indian Prime Minister has done. Modi will also be meeting CEOs of major US companies and he will be discussing defense manufacturing options in India. There could be pacts about technology transfer and local manufacturing in India.

PM Modi is facing elections next year and it would help if Indian government could improve investments in various sectors. India has been trying to project itself as an alternative to China in terms of manufacturing. India has been pushing forward with new projects for local semiconductor production. The shortage of chips during the last two years has put focus on semiconductor industry, largely dominated by Taiwan and other Asian manufacturing hubs.

Prime Minister Narendra Modi is scheduled to hold meetings with the CEOs of prominent American companies like FedEx, MasterCard, and Adobe during his official state visit to the United States. The CEO reception, which will include over 1,200 participants, including business leaders from both U.S. and Indian companies such as Tech Mahindra and Mastek, is set to take place on June 23 at the John F. Kennedy Center for the Performing Arts in Washington.

The CEO meet will be preceded by an official state dinner at the White House on June 22, marking a significant milestone in the relationship between the two democracies.

President Joe Biden has shown a strong desire to strengthen ties with India as part of his efforts to position the contest between free and autocratic societies, particularly China. While it is unlikely that Modi will address the China threat directly in public remarks, a second source revealed that he is expected to discuss the issue during private discussions.

United States and European Union have criticized India for buying Russian crude oil. India has pushed back saying that Indian government's priority is to arrange for its energy needs at affordable price. As per May 2023 data, China and India have accounted for 80 percent of Russian crude exports. EU and United States blame India and China for directly supporting Russia's invasion of Ukraine by purchasing Russian crude.

During the discussions between the two countries, key topics of focus will include reducing India's reliance on Russia for defense needs and enhancing its own manufacturing capabilities. Furthermore, the Biden administration is urging New Delhi to navigate its bureaucratic hurdles and move forward with a deal for numerous U.S.-made armed drones, as per Reuters sources.

Washington has objected to New Delhi's involvement in military exercises with Russia. The United States has been encouraging New Delhi to take stronger action against Russia for its invasion of Ukraine but India is keeping a neutral stance on Ukraine-Russia war.

India is an important market for United States as the trade has been growing steadily. United States is the largest trading partner for India with bilateral trade rising by 8% to $128 billion. India is also trying to reduce its dependence on China, its second largest trade partner. For year 2022-23, India's bilateral trade with China reduced by 1.5 percent to $114 trillion.