Prime Minister Narendra Modi started his campaign to welcome more investments and enterprise creation in India with a meeting with wireless technology giant Qualcomm CEO Cristiano Amon in Washington on Thursday. Qualcomm, with a market cap of about $150 billion, is a leader in the manufacture of chips used in everything from cameras to aircraft and a pioneer in 5G technology.

After their meeting, the Prime Minister's Office tweeted that they “had a productive interaction. PM Modi highlighted the vast opportunities India offers. Mr. Amon expressed keenness to work with India in areas such as 5G and other @_DigitalIndia efforts.”

It added that they discussed “investment opportunities in hi-tech sectors in India. Discussed recent electronics & telecom manufacturing PLI schemes; & measures to strengthen innovation ecosystem.”

When the leaders of the Quad – Modi, President Joe Biden and Prime Ministers Yoshihide Suga of Japan and Scott Morrison of Australia – meet on Friday semiconductors will likely be a priority in their agenda.

The US and others plan to diversify their semiconductor manufacturing because of its strategic importance and India could benefit.The supply chain for semiconductors has been disrupted resulting in manufacturing from digital devices to automobiles hit by shortages creating strategic worries for the US.