2. Index
Contents
Index
President’s Message..........................................................................................................................................4
From the Secretary General’s Desk..................................................................................................................6
Happenings at IACC ...........................................................................................................................................7
Trade Opportunities with IACC ......................................................................................................................28
Trade Opportunity from USA.............................................................................................................................. 28
Trade Opportunity fromINDIA ........................................................................................................................... 28
US investments in India...................................................................................................................................29
Cisco to invest $1.7 billion in India this year; to partner Centre’s digital drive ......................................................... 29
New York City based Rockefeller Foundation to set up 1,000 mini power grids across rural India ........................... 30
Bill Gates Backs Impact Investor Unitus Seed ......................................................................................................30
India’s Investments in U.S................................................................................................................................32
Tech Mahindra buys US Company for$240 million .............................................................................................. 32
Aurobindo wins Natrol bid with $132 million........................................................................................................ 32
Indo-US Corporate News.................................................................................................................................34
Microsoft to use ‘white space’ tech forfree internet in India ................................................................................. 34
CCI gives nod to Mylan-Abbott merger ............................................................................................................... 34
Delaware headquartered DuPont introduces technology solution to tackle fake pesticides sale ............................ 35
After Google and Microsoft,IBM towoo online start-ups..................................................................................... 35
'Rs 299 corner': Google gears up forGreat Online Shopping Festival ....................................................................36
Made-in-India KTM Duke 390,RC390 heads to America: Launch price starts at $4,999......................................... 38
Huge demand forcars will turn around Ford's fortunes in India: President Nigel Harris .......................................... 39
Massachusetts based Dunkin's DonutsIntroduces Chickpea, Saffron, and Chili to their menu ............................... 40
Oregon based Columbia Sportswear to open 25 stores in India by April 2015........................................................ 40
Oracle Signs MoU with ICT Academy of Kerala to help students develop IT skills .................................................. 41
Global hotel chains eye secondary, tertiary markets in India................................................................................. 42
In the News:.....................................................................................................................................................44
'Infra sector to be main focus area for Indo-UScommerce ties'............................................................................. 44
U.S. President Barack Obama to bechief guest at Republic Day celebrations ....................................................... 45
Chuck Hagel understoodIndia's value, opened US military for Sikhs.....................................................................45
India and United States Joint Statement on the Trade Policy Forum.....................................................................46
Ex-Im Bank Chairman Hochberg Visits India toPromote Made-in-America Exports.............................................. 49
Wonderful moment in Indo-US ties: US Senator..................................................................................................50
Enrolment of Indian students in USup by28%: Report ........................................................................................ 51
3. India Signs MoU with USA on Setting-UpInfrastructure Collaboration Platform................................................... 52
Narendra Modi has turned India into a magnet: McKinsey CEO Dominic Barton ................................................... 53
Third Meeting of Indo-US Science & Technologyheld.......................................................................................... 54
Obama opens US borders to more talent from India............................................................................................ 54
Community leaders hail Verma's nomination as India's US envoy......................................................................... 56
Calendar of IACC Events for 2014....................................................................................................................57
Indo-US Trade Statistics...................................................................................................................................61
2014: U.S. trade in goods withIndia.................................................................................................................... 61
2013: U.S. trade in goods with India .................................................................................................................... 61
India – US Trade Analysis ................................................................................................................................62
International Buyer Program, 2014 Trade shows...........................................................................................63
How to reach us:..............................................................................................................................................64
4. President’s Message
Dear Member,
There are many positive developments that have unfolded in recent days that can impact the Indo-US economic
partnership.Foremostisthe conclusionof the Indo-USFoodSecurityagreement,whichcanheraldthe earliestsigning of a
trade facilitation agreement under the WTO. After a long spell of impasse, the multilateral trade negotiations will be
resumedinthe rightearnest. The bonhomie at the G20 meeting in Brisbane, where India was an active participant, is an
indication of the resolution of the WTO contracting parties to forget the past and seize the opportunities that are
unfolding in world trade. The coming months will witness some solid initiatives in this regard.
A related development is the consensus reached by the US and China to limit the emission of greenhouse gases. The
pledge by the US of USD 3 billion towards Green Climate Fund (GCF), in particular, signals the importance that is being
accordedto climate change.India’shope isthatthe GCF will be increasingly committed to enabling developing countries
like India to access state-of-the-art technologies to abate pollution.
Education is emerging as a sector that is further strengthening the bilateral relationship between India and the US. The
enrollmentof Indiansinthe USschools,collegesandtechnical instituteshasgone upby 28 percent. Indian students make
up the second largest foreign contingent in the US after China, contributing to a sizeable portion of its revenue for the
sector.Yet,the cherishedgoal of Indiato emerge as a regional hub for education, despite its huge network of schools of
higherlearningstillremainstobe afar cry. Our cooperationineducationsectorhastoshow more seriousness in terms of
exchange of facultiesandsharingof informationandnetworkingamongthe topuniversities.There is no denial that some
of the leading universities in US have expressed their desire to have off campuses in India to cater to the educational
needs of not only Indians but also for the students from the developing world, who cannot afford higher cost in the US
cities. Legislations that bar setting up of such institutions must be amended to take the conversation forward.
Recently, Union Finance Minister Arun Jaitley stressed the need for accelerating India’s services exports to offset the
increasingdeficitinthe merchandizetrade.He hadidentifiedsome low lyingfruitslikehealthcare,legal services, research
and development,financial servicesetc.whichcanbe easilyandconveniently tapped to up the services exports from the
country.At the same time,India’straditionalstrengthinITandITES has to be consolidatedsince thissegmentwasthe first
to be exploitedandhascatapultedservicesexportsfromthe countryfroma few milliondollarssome two decades back to
US$ 151 billion.The governmentshouldaddresssome of the irritantslikevisaregulationtoenable India to accelerate the
services exports to the US.
5. IACC has been taking regular initiatives in creating newer ideas and approaches for cementing the India-US economic
cooperation. The recently concluded India-US Economic Summit ferreted out many new ideations that can be put to
practice in many areas including energy, tourism, education, manufacturing sector etc. Across our regions, we are
engaginginnewerconversationson hot topic issues such as infrastructure, agriculture, manufacturing, CSR, and inviting
more and more delegations to India.
Significantly,thereisanew found enthusiasm in the Indian economic landscape. Many new policy initiatives have been
unveiled. FDI regime is being increasingly liberalized. Newer schemes like Make in India, Digitizing India etc. are being
implemented. The Indian industry has considerable stake in that. To tap that potential, we need state-of-the-art
technologies,huge resourcesandcapabilities.Insuchthings, the US is our natural partner. This message IACC has to take
to the nation through its well-crafted sensitization programs, workshops, and seminars so that we can remain ahead of
others in espousing the cause and importance of the Indo-US economic partnership.
Asoke K. Laha
National President, IACC
6. From the Secretary General’s Desk
Dear Members,
An investmentof over$ 1 trillionisneeded for toning up the Indian infrastructure sector in the next ten years or so. The
resource requirement will be much higher if we are to go by the importance assigned by the new dispensation for this
sector.Thisis reflectedinsome ambitiousannouncementslikespeedyintroductionof bullettrains,creatingfourtransport
corridors, developing urban transport like metros, and light rail, smart cities, and the unprecedented focus on power
generation.
Domestic resource constraints are many. For instance, huge resources are being planned for education, health, river
cleaning, cleanliness drive, Jan Dhaan Yojana, etc. Therefore, it is necessary that we seek investments from abroad.
Infrastructure proposalsshouldbe attractive,gestationperiodlow andreturnoncapital adequate tomotivate investorsto
bringin the capital.Goingbythe pasttrend,FDI inIndiaismostlydirectedtothe servicessector,followedbyconstruction,
and the rest is miniscule spread across various sectors. We have to change this trend. Infrastructure should be a vertical
that fits the bill for foreign investors.
In the past, many knee jerk exercises have been carried out to attract investment in infrastructure, such as sovereign
guarantee of minimum returns on investment in the power sector, opening up of various segments like construction,
townshipforforeigninvestorparticipation,relaxationof landholdingrightsforcertaininvestments, etc.Butthe resultsare
not adequate, going by the flow of investments into the segment.
Against this backdrop, IACC’s forthcoming Infrastructure Summit assumes importance. A delegation from the State of
Texas led by Ed Emmett, the top elected official of Harris County and an internationally renowned authority on
transportationandlogistics, Mr. Tom Kornegay, the longest serving Executive Director of the Port of Houston Authority,
TexasState SenatorRodneyEllisandIACCGHPresidentandExecutive Directorwill be attending the summit. Importantly,
Mr. Nitin Gadkari, Union Minister for Urban Affairs is the Chief Guest for this Summit. We expect both Indian and US
Stakeholderstoparticipate andferretoutthe policy framework that is needed for catalyzing investment into the sector.
IACC will host this delegation from the State of Texas, US, led by Ed Emmett in Mumbai as well.
In December, IACC will host another delegation led by Mr. Wilfred Muskens, Deputy Secretary, Office of International
Business Development, Commonwealth of Pennsylvania, in Mumbai, Ahmedabad, Bangalore, and Pune.
I invite youto read this issue of the Newsletter, and pay particular attention to our list of upcoming events. We have an
interesting line-up of events in sectors such as Infrastructure, International Trade Development, Finance, Taxation &
Corporate Affairs, CSR, and Agriculture. We look forward to your active participation in all our initiatives pan India. As
always, your suggestions and comments are welcome.
With regards, Atul Vyas,
Acting Secretary General
7. Happenings at IACC
West India Council
IACC in association with Nishith Desai Associates organized a program on “International Arbitration” in
Mumbai
IACC along with Nishith Desai Associates organized a program on “International Arbitration”. on October 17, 2014, from
4:30 pm to 6.30 p.m. in the Banquet Hall No. 4 on 2nd
Floor of Garware Club House, Wankhede Stadium,'D' Road,
Churchgate, Mumbai - 400 020.
Indiaand the UnitedStatesare major playersinthe worldeconomy,withrapidlygrowingtrade andbusinessrelationships
between companies located in far apart regions such as India and Texas. Companies like these, who are doing business
across transnational borders,frequently turn to arbitration to resolve their business disputes. This program provided an
overviewof international arbitration,examine choices to further the company’s objective to keep costs down and avoid
unnecessary delays, and explore strategies for tailoring the process to meet your needs.
The esteemed panellists included Ms. Shashi Patel, Partner, Ware, Jackson, Lee & Chambers, LLP, USA who spoke on
“International Arbitration.TipsforMaximizingthe BenefitsandManagingDisputesArisingwithCompanies outside India”
and SeniorAssociatesMr.Sahil Kanuga and Ms. Shalaka Patil from Nishith Desai Associates who spoke on “International
Arbitration – Past, Present and Future with a Focus on India”. The session was chaired by Mr. Suresh Kotak, Promoter,
KotakMahindra Finance Ltd.Mr. Kotakaddedto the discussionbygivinghisveryvaluable inputsand moderated the Q&A
brilliantly.
After attending the program, participants had a better understanding about:
1. Differences between Arbitration, Mediation & Litigation.
2. Characteristics of the Arbitral Process.
3. Advantages of the Arbitral Process.
4. Disadvantages of the Arbitral Process.
5. Essential Considerations in Drafting the Arbitration Clause/Agreement.
6. Enforcement of the Arbitration Agreement.
The session was phenomenal and was very well attended and appreciated by the participants.
Ms. Rajyalakshmi Rao, Regional President, IACC-WIC welcoming the participants and introducing the esteemed speakers at the event.
8. Participants listening intently to the panel discussion
Interactive session with Mr. K. V. Chowdary, Chairman of Central Board of Direct Taxes, Delhi on October 13,
2014 in Mumbai
IACC organized an interactive session with Mr. K. V. Chowdary, Chairman of Central Board of Direct Taxes, Delhi on
October 13, 2014 from12.30 to 2.00 p.m. inHall No.1 on the 2nd
Floorof the Garware Club House, Wankhede Stadium,'D'
Road, Churchgate, Mumbai - 400 020.
The topic of discussion was “Retro amendment and exchange of information under Tax treaties.
Mr. Chowdaryinhisspeechassertedthe sovereign'srightto change laws retrospectively, and added that taxpayers have
benefited in some cases. He pointed out that "Retrospective amendment is the constitutional prerogative of the
governmentandgovernments prior to this have enacted tax laws with retrospective effect. Some of them have been in
favorof the tax payer,"he said,concedingthatsuchamendments put the industry at some risk. Mr. Chowdary incredibly
answered to innumerable questions and also discussed various direct tax related issues raised by the participants.
The session was outstanding and very well attended.
9. Ms. Rajyalakshmi Rao, Regional President, IACC-WIC welcoming Mr. K. V. Chowdary, Chairman of Central Board of Direct Taxes, Govt.
of India by presenting a memento of appreciation
Mr. Jairaj Purandare, Executive Council member of IACC in discussion with Mr. Chowdary during the Q&A session
Mr. Chowdary addressing the participants
10. Gujarat Branch
Interactive Meeting with the Mr. Thomas L. Vajda, U.S Consul General, US Consulate Mumbai at Hotel
Radisson Blu, Ahmedabad
The Indo – AmericanChamberof Commerce (IACC),GujaratBranch,organized an Interactive Meeting with Mr. Thomas L.
Vajda, the Consul General, US Consulate Mumbai on October 17, 2014, at Hotel Radisson Blu, Ahmedabad.
ChairmanMr. JaiminShahwelcomedMr. Thomas L. Vajda, Consul General, US Consulate Mumbai and introduced him to
the Council members. Mr. Vajda previously served as the Director of the Middle East Partnership Initiative, a foreign
assistance programsupportingpolitical andeconomic reform in the MENA region. His service in Washington has been in
the areas of East Asian and Pacific affairs, weapons removal and abatement, and human resources.
There was a discussion on opportunities for trade, investment and economic growth etc. Chairman Mr. Shah briefed CG
that IACCisworkingforpromotingIndo-USbusinessandhe alsorecognizedIACCas a key Indian Business partner to USA.
Mr. Vajdagave a brief ideaaboutSelectUSA programme,International Buyersprogramme,Delegation from USA to India,
Bank tie-ups for investors in USA, Development on Infrastructure, Hospitality and Education sectors in India and
investmentopportunityforUSbusinessmen.Mr.Vajdaalso said that many American Companies are interested to invest
in Gujarat, as Gujarat has very positive situations for Industrial Growth.
Ms. Camille Richardson, Principal Commercial Officer, US & Foreign Commercial Service, Mumbai also joined for the
interactive session. The meeting was followed by Hi-tea.
Mr. Jaimin Shah Chairman, IACC Gujarat Branch welcoming CG Mr. Thomas L. Vajda
11. (L- R) Ms. Camille Richardson, Principal Commercial Officer, USCS; Mr. Thomas L. Vajda, Consul General, US Consulate; Mr. Jaimin
Shah, Chairman IACC Gujarat.
Mr. Samir Shah- Sr. Vice Chairman welcoming Ms. Camille Richardson
12. Interactive meeting in progress with Mr. Vajda
Mr. Thomas L. Vajda with IACC Council members
13. Pune Branch
IACC and U.S. Commercial Service jointly inaugurated ‘American Business Corner’ on October 20, 2014 at
Mahratta Chamber of Commerce Industries and Agriculture (MCCIA).
Indo-American Chamber of Commerce and U.S. Commercial Service are working together through ‘American Business
Corner’, which was successfully inaugurated on October 20, 2014 at Mahratta Chamber of Commerce Industries and
Agriculture (MCCIA).The inaugurationof newoffice premisesatMCCIA were done bythe hands of the honorable Thomas
L. Vajda, Consul General, U. S. Consulate, Mumbai.
The U.S. Commercial Service wants to reach out to the need of the business community in the 2nd and 3rd tier cities of
India,andfacilitate trade betweenIndianimporters&exportersandtheirAmericancounterparts.The ‘AmericanBusiness
Corner’,will offeropportunitiestoIndianimportersinthesecitiestolearnaboutthe servicesandprogramsofferedby the
ABC andconnectwithAmericanbusinessesthroughbooklets,brochures,newsletters, magazines and CDs; and upcoming
business opportunities.
The eventwas well attendedby60+ industryveteransandwasfollowedby Breakfast. The ABC launch has been very well
received by Pune stakeholders.
Thomas L. Vajda, U.S. Consul General inaugurates American Business Corner.
(L-R) Ms. Camille Richardson, Principal Commercial officer, Mr. Dillon Banerjee, Counselor for Commercial Affairs, Ms. Rajyalakshmi
Rao, Regional President , IACC – WIC& Mr. Prashant Pansare, Chairman, IACC Pune look on.
14. Mr. Dillon Banerjee getting introduced to Mr. Surendra Kumar Jain, Presi dent MCCIA as Ms. Camille Richardson and Mr. Shalendra
Porwal look on.
American Business Corner premises
15. Mr. Thomas L. Vajda inaugurating the American Business Corner as Mr. Prashant Pansare looks on.
Exchange of MoU’s (Memorandum of Understanding)
16. North India Council
Indo-US Economic Summit: Convergence and Connectivity in Indo-US Economic Relations, on
October 15-16, 2014, in New Delhi
The Indo-American Chamber of Commerce (IACC) hosted its decennial edition of the Indo-US Economic Summit in New
Delhi on October 15-16, 2014. This year’s theme “Convergence and Connectivity in Indo-US Economic Relations”, was a
natural progression from last year’s topic “Indo-US Resurgence Summit: A Search for Innovative Strategies”, as it took
forwardthe momentumsetinour bilateral dialogue.The Summitcontinuedtoprove itsrelevanceasa significantplatform
for deliberations on Indo-US strategic, economic, trade and business relations.
Focusing on this year’s Summit theme, Dr. Lalit Bhasin, Regional President, IACC and Summit Chairperson said that a
special emphasishadbeenimpartedtowardspromotionof ourengagementinthe Servicessector,asectorthat surpassed
any otherintermsof itscontributionandpotential indefiningouroverall trade contours.Inhiswelcomeaddress,he cited
the meeting of Honorable Prime Minister Mr. Narendra Modi and President Barack Obama as a historic and defining
moment in Indo-US relations. He further added that the IACC Forum remained aligned with the efforts of our
GovernmentsandIndustries in bridging the Indo-US gap for future growth, continuously engaging a strong membership
base of 2100 large, medium and small companies from India and the US across 11 offices pan India.
Mr. Asoke Laha,National President,IACC,reiteratedDr.Bhasin’scommentandsaidthatinthe upcomingyear,IACCwould
continue tocontribute inthe facilitation of Indo-US trade by providing policy inputs and industry insights, particularly in
sectors such as aviation and defense, manufacturing, services, skill development, hospitality and tourism, and
infrastructure.EffectivelyengagingSMEswasalsoa priorityforIACC,SMEs beinganinfluential andcrucial segment of the
industrythatwas havingan increasing impact on the global economy. The Chamber was looking forward to engage with
this group in both the countries and generating ideas to enhance the bilateral cooperation.
The two-dayEconomicSummithada lineupof leading experts in fields of IT and Cyber Security, Aviation, Education and
Skill Development,Hospitality and Tourism, e-commerce, Media & Entertainment, International Trade and Services. Mr.
George Sibley,Acting Deputy Chief of Mission, US Embassy was the Chief Guest and delivered his special address at the
Inaugural session. Mr. Sibley suggested that while the PM and the President had come up with a joint statement that
highlighted key issues of interest for both India and the US; for the success of this partnership, it was pertinent that the
twocountriesrecognizedeachother’s‘worth’inthisjointrelationshipandworkcooperativelytowardsthe shared‘vision’
of “Chalein Saath Saath: Forward Together We Go”.
During the inaugural, Mr. George Sibley released a white paper jointly carried by IACC and the Summit’s Knowledge
Partner,Kochhar& Co.Thispaper coversa wide range of topical issues,whichwere also discussed over the course of the
two days of the Summit. Mr. Pratyush Kumar, Regional Vice President, IACC-NIC, and President Boeing India and Vice
PresidentBoeingInternational,highlighted the three areas of focus for his company and for the larger Indo-US dialogue,
namely,Defence,TechnologyandAviation. He suggested that there was tremendous scope for convergence in all these
sectors,andlaidspecial emphasis on the “Make in India” initiative launched by the Indian Government. Mr. Raman Roy,
CMD, Quatrro Global Services Pvt. Ltd. presented the Indian industry perspective and said that India and the US were
natural partners where India represented a varied and skilled supply base that could deliver world class services. Mr.
SanjayMehta,Regional Vice President,IACC,andManagingDirector,Teleperformance Indiadeliveredthe Vote of Thanks.
On the firstday,the Summithostedknowledge sessionsonIT& CyberSecurity,TrendsinIndo-USCooperationinAviation,
Education and Skill Development, and Hospitality and Tourism. On day two, the Summit delved into Sessions on
International Trade,e-Commerce the Changing Paradigm, Media & Entertainment, Exchange of Services: Cooperation in
Accounting, Financial & Legal Services, and closed with concluding remarks by Dr. Lalit Bhasin, Mr. Asoke Laha and Mr.
John McCaslin.
17. Dr Lalit Bhasin, Summit Chairman and Regional President, IACC delivering the Welcome Remarks
Mr. Asoke K Laha, National President, IACC & President & CEO, Interra Information Technologies Inc. making the Theme Présentation
Mr. George N Sibley, Acting Deputy Chief of Mission, US Embassy delivering the Inaugural address during the Summit.
18. Releasing of Study Book prepared by Kochhar & Co. the Knowledge Partner
(L-R) Mr. Sanjay Mehta, Regional Vice President, IACC & Managing Director, Teleperformance India; Mr. Pratyush Kumar, Regional
Vice President, IACC & President Boeing India and Vice President Boeing International; Dr Lalit Bhasin; Mr. Rohit Kochhar, Chairman &
Managing Partner, Kochhar and Company; Mr. George N Sibley and Mr. Asoke K Laha
Participants at the Summit
19. Dr. Kamlesh Bajaj, CEO, Data Security Council of India (DSCI) led the session on IT & Cyber Security. Mr. Ashish Sonal,
Founder & CEO, Orkash Services Pvt. Ltd., Mr. Daniel Clegg, US Dept. of Justice, Federal Bureau of Investigation, Mr.
Umesh Verma, CEO, Blue Lance Inc., & Chairman Cyber Security Task Force of Greater Houston Partnership and Mr.
UmeshSachdev,CEO, Uniphore Software Systems,alsoaddressedthe audience inthissession.Theydiscussedkeyaspects
of cyberterrorism,the increasingthreatsto companies and personal privacy, and ways to set in place counter-measures
to minimize the frequencyandscope of the attacks. Information protection was key to avoid identity and currency theft.
Session on IT and Cyber Security
(L-R) Mr. Daniel Clegg, Legal Attache, Federal Bureau of Investigation; Dr. Kamlesh Bajaj, Chief Executive Officer, Data Security
Council of India (DSCI); Mr. Umesh Verma, CEO, Blue Lance Inc. & Chairman Cyber Security Task Force of Greater Houston
Partnership; Mr. Umesh Sachdev, Chief Executive Officer, Uniphore Software Systems and Mr. Ashish Sonal, Founder & CEO, Orkash
Services Pvt Ltd;
20. Mr. Atul Sharma, Past Regional PresidentIACC-NIC,andManagingPartner,LinkLegal India Law Services, led the Aviation
Session which discussed the opportunities in Aviation Infrastructure, and re-looked at the Civil Aviation Authority
Regulations. Mr. Henry Steingass, Regional Director, S&SE Asia, USTDA, Mr. Arijit Ghosh, President – Aerospace,
Honeywell India, Mr. Nalin Jain, President and CEO, South Asia, GE Transportation, GE Aviation, Mr. Amber Dubey,
Partnerand Head – Aerospace andDefence,KPMG, Mr.Piyush Gupta,Partner,Kochhar& Co., Mr. Ravi Menon,Executive
Director,AirWorks india,Group Captain R K Bali (Retd),Secretary,BusinessAircraftOperatorsAssociation (BAOA), Cdr. A
M Ganapathy, ManagingPartner, ACCOLITE CBAS Inc. were the other speakers in this session. Given that most air traffic
growthhad beenfoundinAsia,specificallyIndiaand China, the lack of infrastructure at some of the airports in India was
resultinginthe disabilityof handlinghighairtrafficandmaintainingoptimumairconnectivity.The speakersalsocalled for
rationalization of taxes, revision of certain policies that hampered investment in this sector and better regulations for
MROs.
Session on “Trends in Indo-US Cooperation in Aviation”
(L-R) - Mr. Amber Dubey, Partner and Head-Aerospace and Defense, KPMG;Mr. Nalin Jain, President and CEO, South Asia, GE
Transportation, GE Aviation; Mr. Arijit Ghosh, President –Aerospace Honeywell India; Mr. Henry Steingass, Regional Director, S&SE
Asia, USTDA; Mr. Atul Sharma, Past Regional President, IACC & Managing Partner, Link Legal India Law Services; Mr. Piyush Gupta,
Partner, Kochhar & Co; Mr. Ravi S Menon, Executive Director, Air Works India; Group Captain R K Bali (Retd), Secretary, Business
Aircraft Operators Association (BAOA) and Cdre A M Ganapathy, Managing Partner, ACCOLITE CBAS Inc.
21. The Educationand Skill Development session was led by Mr. Vivek Singh, Director, Grant Thornton India LLP. Mr. Sanjay
Mehta, Managing Director, Teleperformance India, Mr. Deepak Bharara, Chief Human Resource Officer, Lanco Infratech
Limited, Mr. Dilip Chenoy, Managing Director & CEO, National Skill Development Corporation (NSDC), and Prof. Rupa
Chanda, IIM Bangalore were the other panelists for this session. The panelists called for global sensitization of every
studentinIndia,andadvisedalookat whether there is alignment in the faculty instruction and industry expectation i.e.
between education and employability. Given the new Govt.’s increased focus on skill deve lopment, the panelists
encouragedapublicprivate partnershipingeneratingadvocacycampaignstomotivate peoplein specializing in skills that
were in demand internationally.
Session on Education and Skill Development
(L- R) Mr. Deepak Bharara, Chief Human Resource Officer, Lanco Infratech Limited; Mr. Sanjay Mehta; Mr. Vivek Vikram Singh,
Executive Director, Grant Thornton India LLP; Prof Rupa Chanda, IIM Bangalore and Mr. Dilip Chenoy, Managing Director & CEO,
National Skill Development Corporation (NSDC)
22. Mr. Baljit Sobti, Managing director, Systems Tek India Pvt. Ltd. led the Hospitality and Tourism session, along with Mr.
John McCaslin, Minister Counselor for Commercial Affairs, US Embassy, Mr. Vikram Madhok, Managing Director,
Abercrombie & Kent India Ltd., Mr. Sunder Advani, CMD, Advani Hotels & Resorts India Pvt. Ltd., Mr. Navin Berry, Chief
Executive, Cross Section Media and Mrs. Ragini Chopra, Director, Jetairways as speakers. The speakers echoed some of
the concerns mentioned in the Aviation session regarding non-conducive regulations and policy, along with lack of
connectivitybyairandtrain and heavytaxation that negatively impacted tourism and travel in India. They were hopeful
that the new‘Visaonarrival’initiative forall Americanswouldbe a game changer for India and expected a 15% growth in
this sector so that India could realize its capability of handling 15 million tourists each year. Mr. McCaslin made a highly
engagingpresentationonthe promotionof tourismfromIndiatothe US, the US government’sfocusandinitiatives in this
area and also the significant amount of revenues this sector contributed to the overall US economy thus giving a very
balanced tone to the overall discussions and adding the vital US perspective.
Session on Hospitality and Tourism
(L-R) Mr. Navin Berry , Chief Executive, Cross Section Media; Mr. Sunder Advani, CMD, Advani Hotels & Resorts India Pvt. Ltd; Mr.
John M McCaslin, Minister Counselor for Commercial Affairs, US Embassy; Mr. Baljit Sobti, Managing Director, Systems Tek India Pvt
Ltd; Mr. Vikram Madhok, Managing Director, Abercrombie & Kent India Ltd and Mrs. Ragini Chopra, Director, Jet airways
23. The session on International Trade opened day 2 of the Summit and was led by Mr. Kamal Meattle, Past National
President IACC and CEO, Paharpur Business Centre & Software Technology, Incubator Park. Mr. Don Jackson, Partner,
Ware JacksonLee & Chambers, Mr. R. Chandrashekhar, PresidentNASSCOM, Mr.Hugo Yon,ActingMinisterCounselorfor
Economic,Environment,Science and Technology, US Embassy, and Mr. Ronen Sen, Former Indian Ambassador to the US
were the other speakers for this session. The speakers touched upon the significant role of the IT sector in defining the
Indo-UStrade relationmaintainingthat it was not just the presence of Indian IT companies in the US that was significant
but the presence of US IT companies in India which also had to be recognized. There was still tremendous scope for
innovation in this sector. They also elicited the importance of start-ups, particularly in the US and the role of Indian
entrepreneurs and stressed on the Indo-US relationship that was enabling job creation in both countries.
Session on International Trade
(L- R) – Mr. Don Jackson, Partner, Ware Jackson Lee & Chambers; Mr. Ronen Sen, Former Indian Ambassador to US; Mr. Kamal
Meattle, CEO, Paharpur Business Centre & Software Technology Incubator Park; Dr Lalit Bhasin; Mr. R Chandrashekhar, President,
NASSCOM and Mr. Hugo Yon, Acting Minister Counselor for Economic, Environment, Science and Technology, US Embassy;
24. The nextsessionone-Commerce,the ChangingParadigm, was led by Mr. Sanjay Mehta, Regional Vice President, IACC &
Managing Director,Teleperformance India.Otherhighprofilepanelists included Mr. Amarjit Singh Batra, CEO, OLX South
Asia, Mr. Praveen Sinha, MD & Founder, Jabong.com, Mr. Nitin Bawankule, Industry Director, Ecommerce, Local and
Media, Google India, Mr. Sunil K. Goyal, CEO, Yournest.in and Mr. Skand Bhargava, Lead Analyst, Contact Center
Outsourcing,Everest Group. In the last few years, India had evolved as a market for ecommerce with a large population
becomingincreasinglycomfortablewithonline buying.The speakerstalkedabouthow thisformatempoweredthe buyers
to not only buy at a lower cost point but to also voice their review for products and services on social media thereby
ensuringinstantfeedbackandinfluencingbuyingpatterns.However,Indiahadtobe evaluatedasacollective combination
of smallerregions rather than a whole country so that local culture and economics could be factored in for targeted and
relevant products & services.
Session on e-Commerce, The Changing Paradigm: Driving Consumer Empowerment
(L-R) Mr Skand Bhargava, Lead Analyst, Contact Center Outsourcing, Everest Group; Mr Sunil K Goyal, CEO, Yournest.in; Mr. Sanjay
Mehta; Dr Lalit Bhasin; Mr. Amarjit Singh Batra, CEO, OLX South Asia; Mr. Praveen Sinha, MD & Founder, Jabong.com and Mr. Nitin
Bawankule, Industry Director, Ecommerce, Local and Media, Google India.
25. Mr. Sandeep Marwah, Chairman, NIC’s Media and Entertainment Committee & Director of Asian Academy of Film &
Television & Asian School of Media Studies led the session on Media & Entertainment, along with Mr. Pankaj Parashar,
eminentFilmDirector, Mr.SantoshBhartiya, CEO, Senior Media Ltd. and Mr. Uday Singh, Managing Director, the Motion
Picture Distributors Association India as distinguished speakers.
Session on Media and Entertainment
(L-R) Mr. Santosh Bhartiya, CEO, Senior Media Ltd; Mr. Sandeep Marwah, Director of Asian Academy of Film & Television & Asian
School of Media Studies; Mr. Uday Singh, Managing Director, The Motion Picture Distributors Association India and Mr. Pankaj
Parashar, Film Director.
26. The last session of the day “Exchange of Services: Cooperation in Accounting, Financial & Legal Services” was led by Mr.
AseemChawla,Regional Council Member,NIC&Partner,MPC Legal and Mr. Atul Sharma, Past Regional PresidentIACC &
Managing Partner, Link Legal India Law Services. Ms. Shashi Patel, Ware, Jackson, Lee & Chambers, LLP, Mr. Thiru
Govender,CPA,Shareholder,ElliottDavisPLLC,and Mr. Sanjay Agarwal, Chairman,Committee onEconomic, Commercial
Laws & WTO, Institute of Chartered Accountants of India also addressed the audience.
Session on Exchange of Services Cooperation in Accounting, Financial & Legal Services
(L-R) Mr. Thiru Govender , CPA, Shareholder, Elliott Davis PLLC; Mr. Atul Sharma; Dr Lalit Bhasin; Mr. Aseem Chawla, Partner, MPC
Legal; Ms. Shashi Patel, Ware, Jackson,Lee & Chambers ,LLP and Mr. Sanjay Agarwal, Chairman, Committee on Economic, Commercial
laws & WTO, Institute of Chartered Accountants of India.
The Summit hosted over 250 delegates on each day representing organizations from India and the US, ,top diplomats,
officialsfromIndiangovernmentandUS Embassyandfocusedonareas of bilateral trade and investment, knowledge and
technology transfer, public private partnerships, and joint partnerships in the varied sectors.
27. South India Council
Tamil Nadu Branch
Networking Meet with Ambassador Kathleen Stephens, Chargé d’ Affaires, U.S. Embassy, New Delhi on
October 19, 2014
Indo-AmericanChamberof Commerce (IACC) organizedaNetworkingMeetwith Ambassador Kathleen Stephens, Chargé
d’ Affaires, U.S. Embassy, New Delhi at Hotel Hyatt Regency, Chennai.
While addressingthe gathering,Ambassador Stephens expressed America’s keenness to partner with India in achieving
Prime MinisterModi’smandate tocreate 1 millionjobseverymonth. She pointedout issuance of 8 lakh visas to India by
U.S. Embassy so far this year, in her speech.
The Ambassador further said, as far as Chennai is concerned its proximity to business communities in eastern countries
like Korea, Japan, Singapore should be encourage more investment opportunities. Also, improvement in India’s
Intellectual Property Rights with International Standards would help boost the confidence of American investors.
In conclusion, Ms. Stephens emphasized the partnership need between India & U.S. on various issues like tackling
terrorism, space cooperation and climate change.
This program was attended by prominent senior representatives from various industries based in Chennai.
Ambassador Kathleen Stephens, Chargé d’ Affaires, U.S. Embassy, New Delhi addressing the participants.
28. Trade Opportunities with IACC
Trade Opportunity fromUSA
Sr. No. Business Interest of the Company Contact details
1. Simmons Engineering Corporation is USA based
company and has been a supplier of unique blades to
Industry.
This company is having world class quality in
Manufacturing, innovation in design and product
development and exceptional customer service. They
are currently active primarily in the foam and food
market. Additionally we have capability in the metal
cutting, wood cutting and aerospace industries.
Simmons is seeking distributors for their specialized
band saw blades that are used to cut and fabricate
foam rubber among other things.
ExportBusinessisone of the strategic initiatives of the
company moving forward.
For more details, please visit : www.simcut.com
Ms. Rakhi Panda
Regional Director, IACC-WIC
Tel: 91-22-22821413
rakhi@iaccindia.com;
B2B@iaccindia.com
Trade Opportunity fromINDIA
1. AKP Foundries (P) Ltd is in the business of
Foundry/casting manufacturing and CNC machining
since last 35 years.
Their Exports business is around 30% of sales.
Theywouldlike to have a Joint Venture in the product
segment of Pumps and valves
They act as a manufacturing and sales hub for the US
counterpartin the Asia pacific region as well as export
to European countries etc.
Also, they are interested in B2B the construction
equipmentand Engine manufacturers so as to explore
the possibility of exports of castings to US
For more details,pleasevisit: www.akpfoundries.com
Ms. Jitika Narang
Manager Memberships, IACC
(Karnataka Branch)
Tel:91-80-41148325/ 22203366
jitika@iaccindia.com;
B2B@iaccindia.com
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29. US investments in India
Cisco to invest $1.7 billion in India this year; to partner Centre’s digital drive
Nearly three months after Cisco Chairman & CEO John Chambers said he will "bet big on India", the world's biggest
computernetworkingcompanydetailed plans to invest around $1.7 billion in a year, becoming the first multinational to
make such a commitment in the country since the Narendra Modi government took over. After a spate of exits of top
officialsandconcernsoverbusinessgrowthinthe country,Ciscoisback onits feetwithbillionsof dollars up its sleeves as
it looks to partner India on the government's digital initiative.
"Ciscoisinvesting$1.7 billionthisyearintothe Indiaoperations,"Cisco'sIndiapresidentDinesh Malkani told media. "The
investment includes a $40-million innovation fund and investments into R&D." "I think Modi in India is going to turn
aroundthat country,"Chambershadsaid duringanearningscall inAugust."You can see the enthusiasmboth citizens and
businessesthere are bettingonasingle emerging market. I would bet on India right now in a big way." Cisco India lost at
leastfourkeypeople inthe pastyear,includingIndiaheadJeffWhite.Inthe quarterendedOctober 26, 2013, Cisco's India
revenue declined 18%. With the new Modi government in place, Cisco is placing a fresh bet on India.
Witha freshannual investmentof $1.7 billion in India, Cisco is preparing to bid for large government contracts for smart
cities and other Digital India projects. Chambers sees huge opportunity in India. During a speech in August, he said he
wants Cisco India's contribution to the parent company rise from less than 2% now to at least 5%. As the US network
equipment-makerfacesconstantdipinitsChinabusiness,Ciscosees India as a big opportunity for growth. In the quarter
endedJuly26, CiscoIndia'srevenue grew 18% while China revenue declined 26%. The slide in China revenue continued
evenduringthe subsequentquarterwhenthe companysaw a dip of 33% in China business. India was still growing at 6%.
"Ciscohas been a market leader in a lot of areas. India market is important for them from a smart city perspective. They
are doing a lot of work in that area. Even in the data centre space they are doing very well. With smart city being a big
thinginIndia,Ciscowill double down in the long term," said Karthik Ananth, director at marketing research firm Zinnov.
Cisco is now approaching the new government opportunity by carving out a new division called the Growth Vertical,
which will focus on areas such as eHealthcare, eEducation, smart cities and national broadband project.
The growing Internet penetration and exponential growth of Internetbased companies, such as Flipkart, Ola, Zomato in
the country, is creating newer opportunities for Cisco. "Every time a new user gets added to the network, he's an
opportunityforeducation,forbanking,forecommerce.We've beenworkingwithbusinesses to provide the network. We
also want to partner with the government for the national broadband project, to make sure the network is available to
every village in the country," Malkani said.
"We've got some of our bestpeople to be a part of this new division as it requires a lot of work," Malkani said. "For such
projects,the productsneedtobe more ruggedand localised.The teamisworkingonmaking sure we get every bit of that
right."Some of the keypeople whoare apart of the divisioninclude Purushottam Kaushik, who'll be heading the growth
vertical andhas previouslybeenworkingonprojectsintelecom,Indiadigitisation,Internet of Everything, physical safety,
energy,manufacturingand transportation. Vishal Saxena, who has been in the company for last eight years, working on
service provider and defence business, is now heading India digitisation and smart cities part of the growth vertical.
Rupinder Singh, who has been technical leader for the public sector, enterprise and service provider business, will be
playing the engineering director for India digitisation, Internet of Everything, physical safety and surveillance.
Cisco,whichemploys11,300 people inIndia,hasmoved about15-20% of itsIndiaworkforce tothe newlyformed division.
Cisco has already won some large government projects in these areas. The company is consulting the government on
buildingfouroutof the five smartcitiesinthe Delhi Mumbai Industrial Corridor."We built the entire blueprint for four of
the five cities on DMIC.
39. Huge demand for cars will turn around Ford's fortunes in India: President Nigel
Harris
About a decade and half since and after holding various positions across the globe, Harris is expected to play a very important role
for the company.
For Nigel Harris, his father has always been a great role model. But when he had the option of taking over the family's
dairy farm in New Zealand from his father, he looked elsewhere. His love for cars landed Harris at Ford Motor. Harris
joined the New Zealand unit of the US auto maker in 1985 as a fleet sales analyst.
"WhenI firstjoinedFord,Itoldmy fatherthatone day I will be the MD of Ford New Zealand,andhe laugheditoff,"Harris,
president of Ford's India operations since February this year, recalled at a recent interview. He went on to become the
managing director of Ford New Zealand in the late 1990s. About a decade and half since and after holding various
positionsacrossEurope,Africaandthe AsiaPacific, Harris is expected to play a very important role for the Detroit-based
company.Fordis lookingatIndiato be a driverof its emerging market push. It also wants to see the Indian unit making a
profit, something that eluded the company in its 17 years of operations here.
Not new to the Indian market, Harris was one of the key contributors for the Ikon sedan developed for the local market
and has travelledto the country 7-8 times in late 90s to get an insight into the Indian consumers. Expectations are high,
but Harrisseemsto be enjoyingit."I reckon, if you love what you do, if your hobby is your work, then you never have to
work a day in your life. That is what it has been like for the last 29 years."
The company hadone-off successeswithmodelssuchasthe Ikon,Figoand EcoSport,but still isn'ta mainstreamcarmaker
inIndiain termsof volume andprofitability.Itisoftencalleda"one-productcompany"-mostof itssalesatany givenpoint
come from one model,andnowitis the EcoSportcompact SUV. "The criticismleveled on us is understandable, we know
whyit isthe case," Harrissaid."It doeschange,because of the One Ford plan. I think we will change the perception, with
the evidence in the future."
CHANGE IN STRATEGY
Under the One Fordplan,productsmanufacturedinIndiaare now alignedwithglobal lifecycle anddevelopment costs are
expected to be shared by units in markets to where the products are exported. That is expected to make per-unit costs
lower,as the company will be able to utilize capacity better. The Ikon or Figo were developed specially for India, which
meant costs were high and volumes weren't enough to recover the cost.
The company isinvesting $1 billion in its new Sanand plant in Gujarat and will be rolling out at least three to four cars in
the nextcouple of years.Afterhittingthe sweetspotwiththe EcoSport, there is an entry level sedan lined up for launch,
as well asa small car thatis likelytoreplace the Figohatchbackandan all-new EndeavourSUV.Otherlikelymodelsinclude
a competitor on the B562 platform to Honda Cars India's City mid-size sedan and a seven-seat multipurpose vehicle.
47. StatesTrade PolicyForum(TPF).The twogovernmentssignaledtheirreadinesstoenhance bilateral trade and investment
ties in a manner that promotes economic growth and job creation in both India and the United States.
Work Sessions
MinisterSitharamanandAmbassadorFromandiscussedandexchangedviews on a range of trade and investment issues,
inparticular,(i) Agriculture,(ii) Services, (iii) Promoting Investment in Manufacturing, and (iv) Intellectual Property. The
co-chairsof the respective WorkSessionsbriefedMinisterSitharaman and Ambassador Froman on the outcomes of their
discussions and presented agreed upon work plans for continued engagement in these areas in 2015. Both countries
noted the importance attached to the Trade Policy Forum by Prime Minister Modi and President Obama to further
stimulate bilateral trade and investment.
Agriculture
Both countries recognized the important role of agricultural and food trade in feeding their populations, providing
consumer choice and supporting the livelihood of their farmers. India and the United States agreed to establish a new
technical dialogue thatwillpromote cooperation on plant health, animal health, and food safety issues in a manner that
facilitates the movement of agricultural goods between the two countries. They agreed to work towards facilitating
agricultural trade betweenthe twocountriesbyengagingwitheachotherclosely with the intent of establishing science -
and risk-based regulations and procedures that conform to international standards and guidelines set by CODEX
Alimentarius,the WorldOrganizationforAnimal Health(OIE) andthe InternationalPlantProtectionConvention (IPPC), to
the extent possible. Minister Sitharaman and Ambassador Froman also acknowledged the benefits that could accrue to
Indian and U.S. farmers and agri-businesses from these engagements.
Both countries noted each other’s' requests and agreed to follow up on exploring the possibility of enhanced market
access onidentifiedagricultural products.Theyalsonotedthe potentialreconciliationof the definition of wholesale pack
between Departments, forthcoming rules to allow stickering of maximum retail price at the port, and timely
implementation efforts concerning these issues.
Services and Investment
MinisterSitharamanandAmbassadorFroman highlightedthe importantrole of the servicessectorinIndiaand the United
States,andthe significantpotential forincreasingbilateral servicestrade and investment. To advance this goal, India and
the UnitedStatesagreedto increase engagementon servicesandinvestmentissues.The UnitedStatestooknote of India's
interest in engaging on social security totalization, and agreed to review any information provided by India about
developments in its social security regime. They decided to continue their engagement on visa issues, and the United
States took note of India's interest in ensuring easier access for Indian professionals in the United States.
MinisterSitharamanhighlightedIndia'seffortstopromote foreignparticipationinkeyservices sectors, including those of
interesttothe UnitedStates,andurgedU.S. investorstotake advantage of these opportunities. Minister Sitharaman and
Ambassador Froman recognized the benefits that can accrue from services liberalization in the information and
communications technology sector.
Promoting Investment in Manufacturing
Minister Sitharaman and Ambassador Froman discussed efforts that each country is undertaking to promote a business
friendly environment for attracting investment in manufacturing, moving forward on a commitment made by Prime
Minister Modi and President Obama in September 2014 to address this issue that is critical to each other’s' economy.
Affirmingtheirsharedgoal of usingtrade and investment as a vehicle for stimulating economic growth and job creation,
Minister Sitharaman and Ambassador Froman agreed to deepen bilateral engagement aimed at promoting bilateral
investment across sectors. Both countries stressed the importance of providing a transparent and predictable policy
environmentto help attract investments in manufacturing. In this regard, Minister Sitharaman and Ambassador Froman
agreed to exchange information on stakeholder participation in the framing of trade and investment policies and
procedures,andtodiscussbest practices.Further,theyhighlightedtheireffortstoincrease supply chain connectivity and