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April 2016 | Vol IV | Issue 6AmCham - The Voice of American Business in India
• AmChamsupportedU.S.TechnologyRoundtableforAjmerSmartCity
• AmChamhostedAssistantSecretary,U.S.DepartmentofTransportation,Ms.SusanKurlandforanExclusiveRoundtablewithU.S.IndustryLeaders
• 24thAnnualGeneralMeetingofAmCham
• AmChamMeetingwithMs.NishaDesaiBiswal,U.S.AssistantSecretaryofStateforSouthandCentralAsianAffairs
• AmChamDefenseCommitteemetwithUnderSecretaryofDefense,U.S.DoDFrankKendall foranU.S.–IndiaIndustrySession
• "DirectTaxDevelopmentsintheLastFinancialYear"writtenbySauravBhattacharya,ExecutiveDirector,PwCIndia
HIGHLIGHTS
AmCham
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Managing Risk | Maximising Opportunity www.controlrisks.com
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Contents04
24thAnnualGeneralMeetingofAmCham
28Exclusive Roundtable with AssistantSecretary, U.S. Department ofTransportation,Ms.SusanKurland
32AmChamandUSIBCJointReceptiononEveofDefExpo2016
35AmChamsupportedMinistryofDefenceledDefExpoIndia
38"Direct Tax Developments in the LastFinancial Year" written by SauravBhattacharya, Executive Director, PwCIndia
46Meeting with Ms. Nisha Desai Biswal,U.S. Assistant Secretary of State forSouthandCentralAsianAffairs
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Office Bearers
Chairman
Mr. Pratyush Kumar
President
Boeing India
Vice Chairmen
Mr. Richard Rekhy
Chief Executive Officer
KPMG in India
Mr. Gulshan Kumar Sachdev
Managing Director
Quaker Chemical India Limited
Hon. Secretary & Treasurer
Mr. Atul Dhawan
Regional Managing Partner
Deloitte Touche Tohmatsu India LLP
Board Members
Ms. Rekha M. Menon
Chairman
Accenture India
Mr. Varun Khanna
Managing Director
Becton Dickinson India Pvt. Ltd.
Mr. Venkatesh Kini
President & CEO – India and South West Asia
Coca-Cola India Pvt. Ltd.
NATIONAL EXECUTIVE BOARD 2016-17
Mr. Arun Kumar Jain
Managing Director
Fluor Daniel India Pvt. Ltd.
Mr. Kaher Kazem
President and Managing Director
General Motors India Pvt. Ltd.
Mr. Nick Mitchell
Managing Director
Phenomenex India Pvt. Ltd.
Mr. Krish Iyer
President and CEO
Wal-Mart India Pvt. Ltd.
Dr. Kiranmai Pendyala
CVP HR Greater Asia
AMD R&D Center India Pvt. Ltd.
Mr. Madan Mohan Rao Yalamanchili
Executive Chairman
S&P Capital IQ (India) Pvt. Ltd.
Dr. Pradip K. Dutta
Corporate Vice President & Managing Director
Synopsys (India) Pvt. Ltd.
Mr. Inderjit Sial
President & Managing Director
Textron India Pvt. Ltd.
Mr. K. P. Sengupta
Chairman
Data Core (India) Pvt. Ltd.
Mr. Rustom J. Desai
Managing Director
Corning India and Telecom Operations
Mr. Ramkumar Ramamoorthy
Senior Vice President, Marketing, Corporate Affairs and Communications
Cognizant Technology Solutions
Mr. A. Viswanathan
Dy. Managing Director
BS&B Safety Systems India Limited
Mr. Sukanti Ghosh
Managing Director, India
APCO Worldwide India Pvt. Ltd.
Ms. Kaku Nakhate
President & Country Head (India)
Bank of America N.A.
Immediate Past Chairperson
Ms. Vanitha Narayanan
Managing Director
IBM India Pvt. Ltd.
Honorary Members
Mr. John M. McCaslin
Minister Counselor for Commercial Affairs
U.S. Embassy
Mr. George N. Sibley
Minister Counselor for Economic Affairs and Environment, Science and Technology
U.S. Embassy
Special Invitee
Mr. C. R. Dua
Managing Partner
Dua Associates
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I amhonoured to be elected as theChairmanof AmCham India for theyear2016-17atitsrecentlyconcluded24thAGM.ThisisaspecialyearasAmChamhascompleted24yearsofIndia-U.S.businesspartnership.
Duringthelast24years,thechamberhasbeenattheforefrontofsupportingevergrowingtradebetween IndiaandtheUnitedStates,whichtoppedarecord$108billionduring2015.TheU.S.hasalsobeenamongstthetopfiveinvestorsinIndiaandthepresenceofU.S.companiescanbeseeninalmostallareasofbusiness.
AmCham member companies have contributed significantly towardsemployment generation, exports, skill development, research anddevelopment, innovation and technology exchange, and participated inCSR activities in India. AmCham has recently brought out a publication“HappilyGoingMiles for Their Smiles” showcasing theCSR activities ofAmericancompanies.
AsChairman,mygoalwillbetosteerthechambertowardsstrengtheningU.S.industry’sengagementinfocusareasoftheGovernmentofIndiasuchas manufacturing, digital connectivity, smart cities, infrastructure build,skilldevelopment,entrepreneurship,and innovation. Given India’sstronggrowth outlook and compelling demographics, along with convergingstrategicinterestswiththeUnitedStates,thechamberiswellpositionedtopartnerwiththeIndianandtheUnitedStatesgovernmentstohelprealizethefullpotentialofIndo-U.S.cooperationinthecomingyears.
IncarryingoutmyresponsibilitiesastheChairmanofAmCham,IwillbeablysupportedbythenewlyconstitutedboardwhichconsistsofCEOsofAmericancompanies based in India. We hope to work very closely with the U.S.EmbassyandlookforwardtobeingguidedbytheU.S.AmbassadortoIndia,Mr.RichardR.Verma,whoisalsotheHonoraryPresidentofAmCham.
Ihopeyouwillallparticipateintheactivitiesofthechambertomakethisa robust organization and contribute towards the growth of the Indianeconomy.
Mr. Pratyush KumarChairman, AmCham
Chairman’s Message
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Smart Infrastructure and Eco Systems – Foundation for Sustainable Growth
of AmCham
Statutory AGM
Mr. Ajay Singha,ExecutiveDirector,AmChamIndia,madewelcomeremarksfollowedbyadetailedpresentationoftheannualreport,whichhighlightedmajorprogramsheldduringtheyear.
Mr.AjaySingha,ExecutiveDirector,AmCham
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Mr. Atul Dhawan,HonoraryTreasurerandSecretary,AmChamandRegionalManagingPartner,Deloitte,presentedthedetaileddraftofauditedstatementofaccounts.Mr.RamkumarRamamoorthy,SeniorVicePresident,Marketing,CorporateAffairsandCommunications,Cognizant,proposedthepassingofaccountsandMr.RichardRekhy,CEO,KPMGinIndia,secondedit.
The election results for the NEB for 2016 – 2017 were announced. The composition of the board comprises ofrepresentationfromtheregionalchapters,9electedmembers,and2honorarymembersfromtheU.S.Embassy.Mr.PhilShaw,ChiefExecutive–India,LockheedMartinIndia,proposedtopasstheboardofAmCham.Mr.AshokSwarup,ManagingDirector,CorporateAffairs&BusinessDevelopment,Citibank,secondedit.
Thefollowingboardmemberswereelected:
1. Ms. Rekha M. Menon,Chairman,AccentureIndia
2. Mr. Varun Khanna,ManagingDirector,BectonDickinsonIndiaPrivateLimited
3. Mr. Venkatesh Kini,President&CEO–IndiaandSouthWestAsia,Coca-ColaIndiaPvt.Ltd.
4. Mr. Atul Dhawan,RegionalManagingPartner,DeloitteToucheTohmatsuIndiaLLP
5. Mr. Arun Kumar Jain,ManagingDirector,FluorDanielIndiaPvt.Ltd.
6. Mr. Kaher Kazem,PresidentandManagingDirector,GeneralMotorsIndiaPvt.Ltd.
7. Mr. Richard Rekhy,CEO,KPMGinIndia
8. Mr. Nick Mitchell,ManagingDirector,PhenomenexIndiaPvt.Ltd.
9. Mr. Krish Iyer,PresidentandCEO,Wal-MartIndiaPrivateLimited
10.Dr. Kiranmai Pendyala,CVPHRGreaterAsia,AMDR&DCenterIndiaPvt.Ltd.
11.Mr. Madan Mohan Rao Yalamanchili,ExecutiveChairman,S&PCapitalIQ(India)Pvt.Ltd.
12.Dr. Pradip K. Dutta,CorporateVicePresident&ManagingDirector,Synopsys(India)PrivateLimited
13.Mr. Inderjit Sial,President&ManagingDirector,TextronIndiaPvt.Ltd.
14.Mr. K. P. Sengupta,Chairman,DataCore(India)Pvt.Ltd.
15.Mr. Gulshan Kumar Sachdev,ManagingDirector,QuakerChemicalIndiaLimited
16.Mr. Rustom J. Desai,ManagingDirector,CorningIndiaandTelecomOperations
17.Mr. Pratyush Kumar,President,BoeingIndia,BoeingInternationalCorporationIndiaPvt.Ltd.
18.Mr. Ramkumar Ramamoorthy,SeniorVicePresident,Marketing,CorporateAffairsandCommunications,ognizantTechnologySolutions
19.Mr. A. Viswanathan,Dy.ManagingDirector,BS&BSafetySystemsIndiaLimited
20.Mr. Sukanti Ghosh,ManagingDirector,India,APCOWorldwideIndiaPvt.Ltd.
21.Ms. Kaku Nakhate,President&CountryHead(India),BankofAmericaN.A.
22.Ms. Vanitha Narayanan,ManagingDirector-India/SouthAsia,IBMIndiaPvt.Ltd.
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HonoraryMembers:
23.Mr. John M. McCaslin,MinisterCounselorforCommercialAffairs,U.S.Embassy
24.Mr. George N. Sibley,MinisterCounselorforEconomicAffairsandEnvironment,ScienceandTechnologyU.S.Embassy
Mr. Gulshan Kumar Sachdev, ViceChairman, AmChamandManagingDirector,QuakerChemical India Limited,sharedthevoteofthankstothepastchairpersonandtomembersofAmCham.
Mr.GulshanKumarSachdev,ManagingDirector,QuakerChemicalIndia
Ms. Vanitha Narayanan,Chairperson,AmCham,presentedthethemeandoverviewoftheprogram.VanithamentionedthatAmCham’sgeneralpurposeistobringalltheU.S.companiestogether.ItwasdecidedthatthecommongoaloftheorganizationwastodriveAmericancompanies’participation inasustainablewaythat isgoodfor Indiaandforthecompany.Ofalltheprogramsthegovernmenthaslaunched,AmCham’saimistocontributetowardsthatnationaltailwindandtomakeanimpact.
Last year the themeof theAGMwassmart infrastructure fordigital Indiawhichevencoveredsocial,physicalandfinancialinfrastructure.Vanithasaidthatthisyearthethemehasbeenrefinedandfocusedontheareaswhereworkisbeingdone.
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Vanithaexplained that thefirstpanelwouldbeonagricultureand foodprocessing–whichwas focusedon in the
budget.Thesecondsessionwould focuson infrastructure–highlighting theopportunitiesand theprogressbeing
madebyAmericancompaniesinthatsector.VanithamentionedthatalthoughnotmanyU.S.companiesarefocused
oneducation,sheencouragedeveryonetoalsokeepskilldevelopmentandhealthcareattheforefrontofgovernment
discussions,asthosecoreareasofsocialinfrastructureneeddevelopmentforthenationtoprogress.Sheremarked
thatithasbecomeincreasingclearthatnewandemergingecosystemshavetocometogethertodeliverthesesolutions.
Panel Discussion on Agriculture and Food Processing
Mr. Atul Dhawan,HonoraryTreasurer&Secretary,AmChamandRegionalManagingPartner,Deloitte,inhisopening
remarksasmoderator,emphasizedthatagricultureisnotonlyaboutfood,butfoodsecurityandpopulationwelfare.
Itisasteppingstonetotheindustrialpartoftheeconomyandisinaveryimperativestagewherepeoplearetalking
andrealizingtheimportanceofit.Itisalsoevidentfromthefactthatbudget2016gavedueimportancetoagriculture.
Dr. Ashok Gulati,Professor forAgriculture, ICRIER,givingan Indianworldview,mentionedthatunderstandingthe
demandandsupplyisveryimportantandwhatisequallyimportantisthepressurewhichisgoingtomountonproviding
foodsecurityandonthefarmersbytheconsumers.AnaverageIndianhousehold,wherethemonthlyfoodbudget
spendis45%,andwiththecurrentGDPgrowthof7%perannumand6%growthinpercapitaincome,thesituationis
goingtomanifoldtill2021.
In themedium to long run,wearegoing tohavemassivedemand for food, feedandfiber.Highvalueagriculture
products(milk,meat,proteins,andvitamins)aregoingtobeindemand.Thefutureofdemandisnotonlywheatand
riceorfarmingbutisavaluechainfromafarmertotheconsumer,platetotheplough,asconsumeristhekingand
hewillcreatethedemandforproduction.Dr.Gulatisaid,inthe60’sand70’s,peopleusedtoconsumewhateverwas
producedbutnowtheendconsumeristhekingandhewilldemandwhathewantstoeatandindustrywillhaveto
produce.
Better and cleaner policies are needed from reforming land leased markets and agricultural produce marketing
committee(APMC)markets.Controlsonrentseekingactivitiesandstockinglimithastobecleaned.TheEssential
CommoditiesActhas tobeeradicated tocleanup theoverallsystem.Dr.Gulatipointedout, thequestion is ifour
governmentisbraveenoughtocarryoutabroaderagendaandcleanupallthistobeabletoletthefarmerearnhis
duecreditandclimbuptheladderofsuccess.
FasalBimaYojna-aninterestingschemewaslaunchedbythegovernmentforfarmersandweareeagerlywaitingto
seehowitwillunfold.Similarlythenationalagriculturemarketiscreatedandisgoingintherightdirection.
Alsobringingbackthefocusontheconsumer,aconsumershouldhaveachoicetoaccessanythingfromanywhere.
Dr.GulatiemphasizedthatIndiahasthehighestmilkproductionintheworldbutwhatastonishesusisthatwearestill
utilizingonlylessthan20%throughorganizedsector,while80%isstillpending.ThisshowsthepotentialIndiahasand
wehavealongwaytogo.Variouscommoditiescanbediscussedinasimilarway.
Insummation,Dr.Gulati said,massiveamendmentsareneeded– institutionalchanges, infrastructuralchanges in
termsofFDI.Allishappening,thoughataslowpacebuthewashappytosharethatIndiaisonarightpath.Allweneed
isanoptimisticapproachforthesame.Perseveranceandbolderapproachistheneedofthehourandlearningthe
valuechainofprocessing,retailing,logisticsandevenexecutionholdsthekey.IndiahasstartedInfluencingnationally
andinternationallytoo.
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Mr. Gokul Patnaik,Chairman,GlobalAgriSystemPvt.Ltd.,saidthatagricultureandthefoodprocessingindustrywerecomplimentarytoeachotherandonecouldnotbeaddressedwithouttheother.Healsobroughtouttheimportantroleprivatesectorcouldplayinincreasingthegrowthofthissectorintermsofproductivityandhowthecompaniescouldfacilitatethechainoffoodprocessing.TheIndianmarkethasdifferentrulesindifferentstates.Tointegrateallofit,itwasimportanttoimplement–GST,APMCActetc.
Mr.Patnaikdiscussedhowmoreandmorestatesfacechallengesinagriculturemarketingandhowthereislittleattemptatcreatinganationalagriculturalmarket.Tocreatesuccess,GSThastobeinconjunctionwiththenationalagriculturalmarket,togetherwiththeremovalofinterstatebarrierstotrade.Aproperregulatorymediumforsoilandwaterneedtobeputinplacealso.Waterpolicyisoneofthemostimportantpoliciesthatneedstobeaddressed.Infrastructureneedssuchasruralroadsandelectricityalsoneedstobeaddressed.
Mr. Ashwani Sharma,ChiefMerchandisingOfficer,Wal-Mart India,emphasizedthatforanefficientfarmtomarketprocessorconsumertofarmprocess,theconsumershouldgetfarmproducewhichistherightqualityattherightprice.Consumersshouldbeawareofalldeclarations(percentages,contents,certificationsandagriculturalprocesses)fortheproduce.Farmersinturnshouldgetadequateremunerationandalsohavetheabilitytochoosethemarkettheywanttosellto.
Theprivatesectorisveryhopefulontheencouragingpoliciesthathavebeenputinplaceorhavebeenannouncedorareintheprocessasitappearsencouragingtotheoveralldevelopmentinthefoodandagriculturesector.
(LtoR)Mr.AtulDhawan,RegionalManagingPartner,Deloitte,Dr.AshokGulati,ProfessorforAgriculture,ICRIER,Mr.ScottSindelar,MinisterCounselorforAgriculturalAffairs,U.S.Embassy,Mr.GokulPatnaik,Chairman,GlobalAgriSystemPvt.Ltd.andMr.AshwaniSharma,ChiefMerchandisingOfficer,Wal-MartIndia
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Mr. Scott Sindelar,MinisterCounselorforAgriculturalAffairs,U.S.Embassy,saidthatagricultureandfoodprocessingstillseemtobeaneglectedpartoftheindustrialsector,especiallyforacountrylikeIndiawhereagriculturecanbeamorepoliticalissue.However,U.S.-Indiarelationshavecomealongwayintheagriculturesector.TheUSDAparticipatedinthestrategicandcommercialdialogue,tradepolicyreforms,andtheUSDASecretarybroughtadelegationtoIndiaandhadmanyseniorlevelengagementswiththeGOI.Thishasexceededexpectationsintermsofpolicyreformsandthegovernmenttogovernmentrelationship.ScottmentionedthatwiththesigningofanewMOUwiththeMinistryofAgricultureinIndia,ithashelpedtoaddressthechallengesoftheagriculturesector.ThiskindofMOUisasteppingstoneincommercialdialogueandthestartofanewphase.
U.S.exportsinagricultureandfoodproductstoIndiahasincreased$1billion,amilestone,andparticularlyin2015,U.S.exportstoIndiaasawholegrewby14%ascomparedtoadeclineinU.S.exportsintherestoftheworld.Scottsaid therearestillanumberofchallengeswhichcontinue to impact the relationship inagriculture,suchas legacypoliciesandregulationsfromthe50’sand60’s.Agriculturepoliciesintendedtosupportfarmersareinfactresultinginmisallocationoflandandwaterresources,andultimatelydistortcroppingpatterns.India’stradepoliciestoprotectfarmersareinsteadmisallocatingIndiannaturalresources.Indiacannotreachitsfullpotentialasanagriculturalpowerhousebecauseoftheseoldtradepolicies,whichresultinthesufferingoffarmers.
ScottemphasizedthatU.S.-Indiarelationsareataverypositivestateandthathascreatedawindowtocapturesomeoftheopportunitiesandpartnerwithprivatesectoronissuesrelatedtoclimatechangeandfoodsafety.
(LtoR)Dr.AshokGulati,ProfessorforAgriculture,ICRIER,Mr.ScottSindelar,MinisterCounselorforAgriculturalAffairs,U.S.Embassy,Mr.AtulDhawan,RegionalManagingPartner,Deloitte,Mr.GokulPatnaik,Chairman,GlobalAgriSystemPvt.Ltd.andMr.AshwaniSharma,ChiefMerchandisingOfficer,Wal-MartIndia
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(LtoR)Mr.C.R.Dua,ManagingPartner,DuaAssociatesandMr.AjaySingha,AmCham,inconversationwithMs.RekhaM.Menon,Chairman–AccentureinIndia,duringtheteabreak
(LtoR)Mr.GokulPatnaik,Chairman,GlobalAgriSystem,Dr.AshokGulati,ProfessorforAgriculture,ICRIERandMs.MadhviKataria,DeputyExecutiveDirector,AmCham
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Panel Discussion on Infrastructure
TheopeningremarksweremadebyMr. Richard Rekhy.Hesaidthat India is thefastestgrowingeconomyaheadof China, yet infrastructure development remains the biggest challenge.With supporting dynamics such as goodmonsoon,GST,andgettingsomeoftheefficienciesbackintotheeconomyitcanpropelthecountrytowardsdoubledigitgrowth.TheGOIinthecurrentbudgethasmadeanallocationof2.2trillionrupeesintoinfrastructure,mainlyintoroadsandrailways.Richardemphasized that inorder to leverage theprivatesector, thereneeds tobe transparentpublic-private partnershipmodels, predictable regulatory environments, stable tax regimes, and strong intellectualpropertyprotectionthathelpsdrawforeigninvestments.
Fundingofinfrastructureprojectscontinuestobeachallengeinthecountry,Richardsaid.BankshavetheirlimitationsandcannotbealwayscountedontofundmegainfraprojectsandoftenlargeinfrastructurecompanieshavetobearhugeburdenofNPAs(non-performingassets)despitehavingbuilticonicmegastructuressuchasmodernairports.Themunicipalbondmarket,whichcouldsupportinfrastructure,isnon-existentinIndia.Theotherchallengeisinthedigitalspace.Disruptioncausedbytechnologydrivenplatformswillaugmentgrowthbutthechallengewillbetoseehowsecuretheenvironmentcanbemadeconsideringcybersecurityisemergingasseriouschallengetoensuringconfidentialityandsecuringpersonalinformationanddata.
ThekeywillbetodevelopdifferentiatedPPPmodels;governmentannouncementsneedtopercolatetopolicy;landacquisition lawsneedtransparencyandbetter regulationandoverarchingall these is thenecessityofenablingtheease-of-doing business environment. A lot of development has been seen in roads and highways and the smartcitiesprogramisabigpushinthedevelopmentofroads,highways,ports,railways,coastlineandinlandwaterways,renewableenergydevelopmentetc.
ThekeynoteaddresswasgivenbyMr. Raghav Chandra,Chairman,NationalHighwaysAuthorityofIndia.HepointedoutthattheIndianhighwayandroadinfrastructuresectorisfacingahugechallengebecauseofthehugeinfrastructuredeficit.Thegovernmenthasfloatedseveralmeasuresandproposalstorebuildinvestorconfidencethatwillhelpeaseinvestmentflowintothesector.TheRBIandgovernmenthaverecognizedhighwayinfrastructureasapriority.
Mr.RaghavChandra,Chairman,NationalHighwaysAuthorityofIndia
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TheNHAIhasinitiatedworkon35,000kmsofnationalhighwaysandhasabout250projectsgoingacrossthelengthandbreadthofthecountry.OneparticularprojectinKashmirwillreducethetraveltimebetweenJammuandSrinagarbyfourandhalfhours,andwillhaveeighttunnels,oneofwhichwillbeabout9kms.Mr.Chandracontinuedontosay,ahugetaskliesaheadforNHAI,withabout60,000kmsof2-wayhighwaysthatneedtobemadeinto4-wayhighways,andanother20,000kmsofroadsneedtobeconvertedto4 lanes.Newstretchesneedtobe identifiedtoconnectcriticalcitiesandtheearliergoldenquadrilateralandthenorth-south-east-westcorridorneedstobefortifiedfurther.Interstatebottlenecksneedtoberemoved,adequatefeedernetworkshavetobedevelopedandawell-connectedgridstructureofroadsconnectedtohighwaysisneeded.
Mr.Chandraexplainedthatmorethana100projectswillbestartedthisyearandabout8,000-9,000kmsofroads.Forrealizingtheseambitions,NHAIwillpreparedetailedprojectreportsbytyingupwithtechnologyprovidersforuseofspatialtechnologyformonitoringandmanagingnationalhighways.
Public-privatepartnershipshavebeenlargelysuccessfulandabout60%ofNHAI’sworkinthepasthasbeendonein thePPPmodel.NewmodelssuchasEPCand thehybridannuitymodelarebeingadoptedandeffort isbeingmadeto reduce time taken toswitch toalternatemodes.Thepresentgovernmenthassimplified theprocedure forallowingchangesinmodelconcessionagreementtoprovidefurthertractiontoprojects.Thishasledtosubstantialenthusiasmamongindustrystakeholders.Thechallengeoffinancingremains,theNHAIdrawsitsfinanceslargelyfromthecessthatthegovernmentimposesonsaleoffuel,ontollcollectionsandalsoonbonds.ThisisseenasanareaofopportunityasthisyearNHAIexpectstoraiseabout60,000croresworthofbonds.
ExpresswaysarealsobeingprioritizedandNHAIhasawardedtheeasternperipheralexpresswayinHaryanaconnectingKondlitoManesar.Thiswillhavethebestautomatedtrafficmanagementsystems.DPRfortheVadodara-Mumbaiexpresswayisreadyforbeingbiddedout.Mr.ChandrainvitedparticipationfromU.S.companiestobidandgiventherobustexperienceofU.S.inhighwayconstruction,hefeltitwillbeasuitablematchofrequirementsfrombothsides.AnumberoffinancialincentivesforconcessionairesarebeingevolvedbyNHAIincludingencouragingdivestmentof
Acaptiveaudienceduringthepaneldiscussiononinfrastructure
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equityofexistingconcessionairesothattheycanunlocktheirequitytoparticipateintheircorecompetencyofroaddevelopmentandtoallowotherstobenefit.
Mr. Rustom J. Desai,ManagingDirector,CorningIndiaandTelecomOperations,talkedaboutthestateoftheIndiantelecomsectorandthechallengesandopportunities.Hestatedthatthetelecominfrastructureindustryisquiteakinto the road infrastructure industry, theonlydifferencebeing that the information telecom industrycarriesdataandnetworkswhich still need to be built. Telecom infrastructure in India is quite robust and growing strongly. A lot ofinvestmentsfromprivatecompanieshavecometobuild4GnetworksinIndia.SomecompanieslikeReliancehaveengagedinbuildinganentiregreenfieldoperationwhichnotonlywillhave4GLTEbutalsofibertohomewhichistheultimatetechnologyindataconnectivity.
AlotofworkhasbeendonebythegovernmentsideespeciallyinsmartcitiesanddigitalIndiaandthetelecomindustryislookingataperiodofrobustgrowthandinvestmentinthenext5years.Thegovernment’sclarificationoftheM&Aregulationsinthecountryhasallowedforconsolidationintheservicespace.Thiswillresultinincreasingpoolrevenueperuseri.e.themoneycollectedfromthecustomersultimatelyhelpingtocoversomeofthespectrumcost.
(LtoR)Mr.RichardRekhy,ChiefExecutiveOfficer,KPMGinIndia,Mr.RustomJ.Desai,ManagingDirector,CorningIndiaandTelecomOperations,Mr.RaghavChandra,Chairman,NationalHighwaysAuthorityof India,Mr.ArunKumarJain,ManagingDirector,FluorDanielIndiaandMr.JohnM.McCaslin,MinisterCounselorforCommercialAffairs,U.S.Embassy
Mr. John M. McCaslin,MinisterCounselorforCommercialAffairs,U.S.Embassy,elaboratedonhowU.S.companiesarelookingatthereformsagendaunleashedbytheIndiangovernmentandthechallengesthatU.S.companiesarefacingastheyinvestordobusinessinIndia.HestatedthatU.S.governmentisquitebullishontheIndianeconomyandPMModihasdoneanexcellentjobinmarketingtheopportunitiesandraisingtheprofileofIndiaglobally.TheU.S.EmbassyisdoingtheirbesttobringmorecompaniestoIndia,findtheopportunitiesandalsohelpthemnavigatethechallenges.
JohnalsomentionedthatthereformsthatthePMistryingtodrivethroughisquitelaudable.Therehasbeensomeincrementalprogressmade.However,certainchallengesintermsofrequirementoflegislationstillpersist.Someofthe
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challengesthatremainaretheneedforopen,transparentandpredictableprocesswhenitcomestocompaniesandthegovernment.Oninfrastructureprojects,robustinteractionswiththegovernmentsareneeded.
Johnconcludedbyhighlightingthatall infrastructureprojectsattheendoftheday,havetobecommerciallyviableprojectsandthecompanyhastomakemoney,whichiswellunderstoodbygovernment,butitisnoteasytoimplement.
Mr. Arun Kumar Jain,ManagingDirector,FluorDanielIndiaPvt.Ltd.duringhistalkstatedthat70%ofinfraprojectsin Indiaare failedprojects in termsofcompliancewith thescheduleandcostand thereareseveral factorswhichcontributetothis.OneofthemanyfactorsistheirrationalbiddingprocessbylargelyIndiancompanies.
Aruntouchedonthelackofrigorforriskidentification,riskallocationandhowriskmitigationleadstoeithertheprojectcomingtogriefor thecompaniescomingtogrief.Healso informedthatveryfewcompanies invest inconstructionassets and they only engage in subcontracting. All these factors are currently not being evaluated in the biddingprocess.
Anotheraspectwhichhurtstheconstructionprocessistheamorphousfocusonconstructionplanning.ConstructionproductivityinIndiaisonefourthofwhatcanbeachieved.Otherfactorstoaddtothisarelowpremiumsforsafety,housekeepingand facilities forworkersaswell as transportationofworkers.Hestrongly feels the issue lies in thebiddingsystemaswellas thecompanies thatbid. Ifcompanies fromtheU.S.whichhavebettermanagementareallowedtoplayagreaterrole,itwilldefinitelyhelpimprovethesituation.
(LtoR)Mr.RichardRekhy,ChiefExecutiveOfficer,KPMGinIndia,Mr.RustomJ.Desai,ManagingDirector,CorningIndiaandTelecomOperations,Mr.RaghavChandra,Chairman,NationalHighwaysAuthorityof India,Mr.ArunKumarJain,ManagingDirector,FluorDanielIndiaandMr.JohnM.McCaslin,MinisterCounselorforCommercialAffairs,U.S.Embassy
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Luncheon Session
Mr. Ajay Singha,ExecutiveDirector,AmCham,gavetheopeningremarksfortheluncheonsession.WelcomeremarksweremadebyMs. Vanitha Narayanan,Chairperson,AmChamandManagingDirector-India/SouthAsia,IBMIndiaPvt.Ltd.VanithamentionedthatAmbassadorVermaheadsoneofthelargestU.S.missionsintheworldandhasplayedacrucialroleinenhancingtheU.S.–Indiarelationship.VanithaledtheAmChamdoorknockdelegationtoWashingtonDClastyear,whereshemetwithCongressmenandSenatorsfrombothpoliticalparties,andsheemphasizedthatthediscussionswereextraordinarilypositiveonbothsidesofgovernment.Shegaveabriefsummaryoftheprevioustwopaneldiscussions.
Chief guestMr. Richard Verma, U.S. Ambassador to India, gave a special thank you to Amitabh Kant becauseeveryAmericancompanythatcomestoIndiawantstomeetAmitabhfirstbecauseofhisabilitytopushforchange.AmbassadorVermathankedhimfordrivingchangeintheU.S.–Indiabilateralrelationship.
ChiefguestMr.RichardVerma,U.S.AmbassadortoIndiawelcomingMr.AmitabhKant,ChiefExecutiveOfficer,NitiAayog
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Ms.MadhviKataria,DeputyExecutiveDirector,AmChamwelcomingthechiefguestMr.RichardVerma,U.S.AmbassadortoIndia
AmbassadorVermahastravelledalloverIndia.Hehaslearnedalotandseenalot.Hehasseenfactories,manufacturingplants,visitedAmChammembercompaniesandmetthestaff;hehasseentheimpactofCSRprojects,andhashadtheprivilegetobeatmeetingswithPrimeMinisterModiandPresidentObama.Hehasseentheirincreasingalignmentinmanyissues,specificallytheclimateagreementreachedinParislastyear.ThecommercialsideoftheU.S.–Indiarelationshipwaselevatedinthefirsteverbothstrategicandcommercialdialoguebetweenthetwocountries.Hehaswitnessedtheincreaseintradeandthebarriersthathavecomedown.
Hereflectedontheprogressmadethusfar:
• 2015displayedthehighesteverrecordedtwo-waytrade,approaching$108billion
• MostIndianstudentsstudyingintheUnitedStatesat140,000
• BrokerecordsforthenumberofIndiancompaniesintheU.S.,numberofU.S.companiesoperatinginIndia,FDIofIndiancompaniesintheU.S.
• Volumeofagriculturetradewasover$6billion
• Defencetradeexceeded$14billion
• Numberofvisasissuedwasover1.1million
AmbassadorVermaexpoundedonthebreadthof theU.S.– Indiarelationshipacrosssectors.Onagovernmenttogovernmentlevelthereare38dialoguesattheassistantsecretarylevelorhigher.Thesedialoguesaredeepeningtrustandstrengtheningtherelationshipbetweenbothgovernments.
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MassiveurbanizationistakingplaceacrossIndiaathistoriclevels.Therearebettertransportnetworks,communicationnetworksarebetter,citiesareprovidingmorehigherpaying jobopportunities, increasededucationwhileruralareaopportunitiesaredryingup.WithIndia’surbanpopulationexpandingatthefastestrateeverrecordedinhistory,IndianeedstoconstructanewcityofChicagoeveryyearforthenext15years.Thequestionisnow,howdowedealwithitandassistthegovernmentandhelppeoplelivebetter,moreefficientlives.
Thereareinvestmentopportunitiesinsmartcitiesandinfrastructure.Smartcitieshavebecomeapillarinthestrategicandcommercialdialogue.ItisoneofthefirstthingsthatSecretaryPritzkerasksAmbassadorVermaabout.AnumberofU.S.agenciesareengagedinthework---USTDA,USAID,DepartmentofTransportationandeventheArmyCorpofEngineers. TheDeputySecretaryof theU.S.CommerceDepartment leda very successful trademissionof 40executivesfrom18companiesthattravelledtoDelhi,MumbaiandVizag.TherehasbeenareversetrademissiontotheU.S.alsothatwenttoNewYorkandSanFrancisco.Thishasresultedinsharingofbestpracticesinareassuchaswatersanitationanddisasterpreparedness.
AmbassadorVermagivinghisremarksonU.S.-Indiarelations
TheAmbassadormentionedthattheAmCham Infrastructure CapabilityDeckwasamilestoneingettingthewordoutaboutwhatU.S.companiescandoanditfeaturesmorethantwodozencompanies.TheUSGwantstoseetheprivatesectorsucceed.Financing isanareawhereeveryonehas towork togethermore. Itwill takecreativepublic/privatepartnershipmodelstogetprojectsofftheground.TheAmbassadorsaidthattheembassy,aswellasWashington,aresupportiveofthesmartcitiesinitiativeandlookforwardtoworkingtogether.
Vanithaintroducedtheotherchiefguest,Mr. Amitabh Kant,ChiefExecutiveOfficer,NitiAayog,andemphasizedhisabilitytomakeeverystakeholderfeelimportantandhowhehasplayedavitalroleinstrengtheningtheU.S.–Indiarelationship.
Inhisaddress,Mr.Kantsaid that thebilateral tradecanbepushedtoagreaterheight.Therelationship isnot fullytappedandtherearemorethingsthatcanbedoneintheIndo–U.S.landscape.Indianeedstogrowat9-10%perannumforthreedecadesormore.IfIndiagrows,naturallythisrelationshipwillbestrengthenedalso.Indianeedstobecomeaveryeasyandsimpleplacetodobusiness.Someofthecurrentrulesandprocessesareantiquated.TheGOIiscommittedtomakingthingseasier.Thecentralgovernmenthasbeenworkingtomakebusinesseasieratthestatelevelalso.Easeofdoingbusinessiscritical.
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Mr.KantsaidthatIndiamustunderstandthatthisisaglobalizedworldinwhichIndiamustbeanintegralpartoftheglobalsupplychain.Over the lastseveralmonths Indiahasopened itseconomy tovastsectorssuchas railways,defense,medicaldevices,etc.TheFDIhasgoneupbyalmost48%.ThelargestamountofFDIhascomefromtheAmericanTowerCorporationwhichwillcontrolabout57,000mobiletowersinIndia.Hesaidthattheirtechnologywillensurelessdroppedcalls.
AccordingtoMr.Kant,Indiahasbeenaveryreluctanturbanizer.India’schallengeisthatinthenext2decades330millionpeoplewillbecomeurbanized.Thechallengeistocreate2.5Americastocompensateforthepopulationgrowth.Technologycanbeusedtoleapahead.CompanieslikeCisco,AECOM,CH2MHillwillhelpIndiaembedfirstclasstechnologyincities.Mr.KantmentionedthatAmericahasmasteredtheartofinnovationfromitsacademicinstitutionsanduniversities.Indiamustalsoembracefreemarketsandfreetradetoexpandmanufacturingandexportacrosstheworld.Inturn,AmericamustopenupitsservicessectortoallowIndianstogoandworkthere.ThiswillallowtheIndo–U.S.relationshiptoflourish.
On this occasion, the AmChamCSR CompendiumHappily Going Miles for Their Smiles, a compendium of CSRactivitiesofU.S.companiesinIndia2015-2016,wasreleased.ThevoteofthankswasgivenbyMr. Richard Rekhy,ViceChairman,AmChamandCEO,KPMGinIndia.
Mr.AmitabhKant,ChiefExecutiveOfficer,NitiAayogmakingremarksonhowtoimproveU.S.-Indiarelationship
(LtoR)Mr.AjaySingha,ExecutiveDirector,AmCham,Mr.RichardVerma,U.S.AmbassadortoIndia,Ms.VanithaNarayanan,ManagingDirector,IBMIndiaPvt.Ltd.,Mr.AmitabhKant,ChiefExecutiveOfficer,NitiAayogandMr.RichardRekhy,ViceChairman,AmChamandCEO,KPMGinIndiareleasingtheAmChamCSRcompendium
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AmbassadorRichardVermawithpartoftheAmChamsecretariat
Mr. Ramkumar Ramamoorthy, Senior Vice President, Marketing, Corporate Affairs and Communications, Cognizant TechnologySolutionsmeetingAmbassadorRichardVerma,alongwithothermembers
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MembersofnewlyconstitutedNationalExecutiveBoardofAmChamIndia
Mr.AjaySinghainconversationwithMs.VanithaNarayanan
MeetingofnewlyconstitutedNationalExecutiveBoardofAmChamIndia
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Office Bearers
Chairman
Vice Chairmen
Hon. Secretary & Treasurer
Mr. Atul DhawanRegional Managing Partner
Deloitte Touche Tohmatsu India LLP
Executive Board 2016-2017
Mr. Pratyush KumarPresident
Boeing India
Mr. Gulshan Kumar SachdevManaging Director
Quaker Chemical India Limited
Mr. Richard RekhyChief Executive Officer
KPMG in India
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National Executive Board Members 2016-17
Mr. Venkatesh KiniPresident & CEO – India and South West Asia
Coca-Cola India Pvt. Ltd.
Mr. Krish IyerPresident and CEO
Wal-Mart India Private Limited
Mr. Arun Kumar JainManaging Director
Fluor Daniel India Pvt. Ltd.
Ms. Rekha M. MenonChairman
Accenture India
Mr. Kaher KazemPresident and Managing Director
General Motors India Pvt. Ltd.
Mr. Varun KhannaManaging Director
Becton Dickinson India Private Limited
Mr. Nick MitchellManaging Director
Phenomenex India Pvt. Ltd.
Ms. Vanitha Narayanan Managing Director IBM India Pvt. Ltd.
(Immediate Past Chairperson)
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Regional Chapters
Hyderabad Chairperson
Karnataka Chairman
Hyderabad Representative
Karnataka Representative
Dr. Kiranmai PendyalaCVP HR Greater Asia
AMD R&D Center India Pvt. Ltd.
Mr. Madan Mohan Rao YalamanchiliExecutive Chairman
S&P Capital IQ (India) Pvt. Ltd.
Dr. Pradip K. DuttaCorporate Vice President & Managing Director
Synopsys (India) Private Limited
Mr. Inderjit SialPresident & Managing Director
Textron India Pvt. Ltd.
Tamil Nadu Chapter Chairman
Kolkata Chairman
Tamil Nadu Chapter Representative
Mr. Ramkumar RamamoorthySenior Vice President, Marketing, Corporate
Affairs and CommunicationsCognizant Technology Solutions
Mr. K. P. SenguptaChairman
Data Core (India) Pvt. Limited
Mr. A. ViswanathanDy. Managing Director
BS&B Safety Systems India Limited
Northern Region Chairman
Mr. Rustom J. DesaiManaging Director
Corning India and Telecom Operations
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Western Region Chairman Western Region Representative
Mr. John M. McCaslinMinister Counselor for Commercial Affairs
U.S. Embassy
Mr. C. R. DuaManaging Partner
Dua Associates
Mr. Sukanti GhoshManaging Director, India
APCO Worldwide India Pvt. Ltd.
Mr. George N. SibleyMinister Counselor for Economic
Affairs and Environment, Science and Technology
U.S. Embassy
Ms. Kaku NakhatePresident & Country Head (India)
Bank of America N.A.
Honorary Members
Special Invitee
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DELHI
From 4th-6th March 2016, the USTDA Smart CitiesTechnicalAdvisoryTeamconductedaseriesofworkingsessions with city stakeholders in Ajmer to discusscity needs and potential project solutions. The closingdayof theworkingsessionsconsistedofasmartcitiestechnologiesroundtable,whichprovidedanopportunityfor U.S. companies offering smart cities technologysolutionstoparticipateinthediscussions.
To present U.S. technology offerings, participants in
AmCham supported U.S. Technology Roundtable for Ajmer Smart City
AmCham’sCapabilityDeckmadeshorttechnologyandcasestudypresentations.AmChammembercompanies,UTC, Honeywell, Trimble Navigation, IBM, Xylem andAccenture participated in the roundtable, which hadsignificantlocaladministrationparticipation.Participantsincluded the Mayor, Mr. Dharmendra Gahlot and Mr.Pandya, Commissioner, Ajmer Municipal Corporation,officialsfromPWDandNagarNigam,AVVNL,PHEDandtheRTOoffice.
AmCham supported Happening Haryana Global Investors Summit
AmCham supported the Government of Haryana andCIIasanassociatepartnerforthiseventheldfrom6th-8thMarch 2016 at the Leela Ambience, Gurgaon. TheHappening Haryana Global Investors Summit was theHaryanagovernment’sfirst-everconcertedefforttoattractglobalinvestorsintothestateanditprovedtobeagreatsuccesswiththesigningof357MoUsworthRs.5,84,000crore, and participation bymore than 3,000 delegates,including160from12partnerinternationalcountries,15UnionMinisters,globalCEOsandindustryleaders.
The summit aimed to establish Haryana as a premierinvestmentdestinationforbothforeignaswellasdomesticinvestors, develop strong macro-economic systemthroughequitableandsustainablegrowth,createjobsforthelocalpopulation,andprovideaplatformfornewideasandinnovationsforfutureinvestmentopportunitiesintothestate.
TheHaryanaChiefMinisterManoharLalsaid,“TheMoUsand thequantumofmoniesassociatedwith theMSMEsectorprovesourdedication to themediumandsmall-sizedbusinesses.Theamountofmoniescommittedisaproofofthesuccessofournewpolicyinitiatives,includingEnterprisePromotionPolicy2015.”
The valedictory session of the Happening Haryanasummit saw Union Minister for Road Transport andHighwaysandShipping,NitinGadkari,makingaslewof
announcements.Hesaidthatthecentrewouldundertake23 highway projects in the state within six months,entailing1,183kilometresandaninvestmentofoverRs.11,000crore.
He said that the centre would be investing Rs. 32,000crore in thenationalhighwayprojectsover thenext twoyears. Declaring the Gurgaon-Dwarka Highway as anational highway project, the Minister added that thegovernmentwouldbeinvestingmorethanRs.1,000croreforconstructingflyoversacrossGurgaon’sheavytraffic-proneareas.
The last session saw the state government launchingHaryanaSolarPolicy2016.ItwasdeclaredthatHaryanawould tweak its procurement policy to source at least20%ofPSUrequirementsfromMSMEs.
It was also announced that 18 cities across HaryanawouldbefundedunderthecentralplanofAMRUT(AtalMissionforRejuvenationandUrbanTransformation)andarailwaycoachfactorywouldbesetupoveranareaof120acres.
Thefocusareasofthesummitincluded:agricultureandfood processing, automotive Industry, aerospace anddefence, IT/ITeSandESDM, footwearandaccessories,pharmaceuticalsandchemicals, renewableenergyandtextiles.
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HappeningHaryanaGlobalInvestorsSummit2016
AmCham Medical Devices Committee Meeting
On9thMarch2016,ameetingoftheAmChamMedicalDevices Committee was organized in Gurgaon. Themeeting was chaired by Mr. Prabal Chakraborty,Chairman, AmCham Medical Devices Committeeand Managing Director, Boston Scientific India. OthermemberswhoattendedthemeetingincludedMr.VibhavGarg, Boston Scientific, Mr. Rakesh Sharma, BD, Mr.AsokKumar,JnJ,Ms.SahjogitaKahthuria,CRBard,Mr.Amit Raheja, JnJ, Dr. Praveen Kumar, IndiaMedtronic,Mr.VishnuVyas,EdwardsLifeSciences,Mr.ArifFahim,St. JudeMedical,Ms.PoojaGupta,CookMedical andMr. Mohd. Iqbal Butt, Dua Associates. The AmCham
secretariatwasrepresentedbyMr.GauravMendiratta.
Thecommitteereviewedtheworkdoneandtheprogressmade by the committee in the last year through anumber of submissions to the government and alsodeliberatedonthewayforwardforthecommitteein2016-17.Someofthesuggestionswhichcameupduringthedeliberations included increasing interactions with U.S.Embassy officials, value addition by focusing on thestates,trainingandawarenessprograms,andcontinuedinternationaloutreach for regulatory issues inSri LankaandBangladesh.
PwC & AmCham’s Ind AS Webinar
On 15thMarch 2016 PwC and AmCham organized anInd AS webinar. The focus of the webinar was on thenew landscape of corporate financial reporting underthe Indian Accounting Standards (Ind AS) which aresubstantiallyconvergedwithIFRS.Thewebinarcovered
topics such as India’s progress on IFRS convergenceandtaxandaccountingimplicationscompaniesneedtobeawareofinmovingtowardsIndAS.Over300peopleparticipatedinthewebinar.
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On16thMarch2016,AmChamandUSIBCjointlyhostedthe Assistant Secretary for Aviation and InternationalAffairs, U.S. Department of Transportation, Ms. SusanKurland, for a closed door interactive session withmembers. The discussions revolved around “Make inIndia,”MROandregionalconnectivity,skilldevelopment,infrastructureandsecurityprotocols.
Suggestionsweremaderegardingactionsforenhancingregional connectivity – reduction of sales tax on VAT,developmentoflowcostairports,helipaddevelopments.For uplifting the stagnant MRO industry the primarysuggestion was to make available an aircraft spareparts warehouse, flexing off the tax regime and fix thechallenges faced due to lack of adequate space and
infrastructureat airports. ThesolutionssuggestedweretoapplyzerovatandzerorateofservicetaxonMRO’s,andthatsaleofpartsandconsumablescouldbebroughtunderdeclaredgoods.
TheAssistantSecretaryspokeon thepolicy frameworktosupportU.S.– Indiabilateralcooperation inaviation.Approximately 40 AmCham members participated.Mr. Palash RoyChowdhury, Chairman of the AmChamAviation Committee and Country Manager – Pratt &Whitney,Mr.AmberDubey,Co-ChairmanoftheAmChamAviationCommitteeandPartner,KPMGandMr.PratyushKumar, member of AmCham Aviation committee andPresident,BoeingIndia,ledthediscussions.
Exclusive Roundtable with Assistant Secretary, U.S. Department of Transportation, Ms. Susan Kurland
(L to R) Mr. Michael Mullins, U.S. Consul General, Hyderabad, Ms. Susan Kurland, Assistant Secretary, U.S. Department ofTransportation,Ms.C.J.Collins,FederalAviationAdministrationAttachéandMr.JasonHill, InternationalTransportSpecialist,U.S.DepartmentofTransportation
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Mr.PratyushKumar,President,BoeingIndia,posingaquestion
Mr.SamitRay,Director-GovernmentAffairs,UnitedTechnologiesCorporation
Ms.SusanKurland,AssistantSecretary,U.S.DepartmentofTransportation
Mr. InderjitSial,President&ManagingDirector,TextronIndiaPvt.Ltd.takingpartinthediscussion
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AmCham Aviation Committee Meeting with Andhra Pradesh CM, Mr. Chandra Babu Naidu and Hon’ble Union Minister Gajapati Raju
On 16th March 2016, Mr. Palash Roy Chowdhury,Chairman, AmCham Aviation Committee and CountryManager, Pratt & Whitney, and Amber Dubey,Co-ChairmanAmChamAviationCommitteeandPartner,KPMG, led a team of AmCham Aviation Committee
memberstomeettheChiefMinisterofAndhraPradesh,Mr. Chandra Babu Naidu and Union Minister for CivilAviation, Mr. Ashok Gajapati Raju. The Chief Ministershared his vision for the state of Andhra Pradesh andwelcomedcompaniestobringinvestmentstothestate.
AmCham supported FICCI for India Aviation 2016
AmChamsupportedFICCIattheMinistryofCivilAviationled 5th edition of India Aviation 2016 fromMarch 16 –20 in Hyderabad. The civil aviation industry in India isexperiencing a new era of expansion driven by factorssuch as low cost carriers, modern airports, foreigndirect investments in domestic airlines, cutting edge
information technology interventions and a growingemphasisonregionalconnectivity.Indiaisthe9thlargestaviationmarket in theworldwitha sizeof aroundUSD16billionand ispoised tobe the3rdbiggestby2020.AmChammembershadanopportunitytomeetwithkeystakeholdersintheindustryandsharebestpractices.
AmCham and FICCI High Level Interactive Engagement with 5 Key State Governments
On 17th March 2016, AmCham planned an interactivesession with key officials from the state Governmentsof Andhra Pradesh, Telangana, Haryana,West Bengal,
Karnataka, and Madhya Pradesh. Principal secretariesandindustrysecretariesfromthestateswerepresentandengagedinkeydiscussionswiththemembers.
AmCham Defense Committee Meeting
On 23rd March 2016, AmCham Defense CommitteemembersmettodiscussthefinallettersubmittedtoJointSecretaryDOMW,Mr.Harbans LalKhera, onmultiplier
suggestionsandsharedtheupdateonmeetings/eventslinedupforDefExpo2016inGoa.
AmCham Closed Door Roundtable with U.S. Government Principles and U.S. Industry
On27thMarch2016,AmChamandUSIBCmemberswerejoinedbythevisitingdelegationfromtheU.S.governmentwhich included Counsel General Mumbai, Mr. ThomasVajda,GeneralDennisL.Via,ArmyMaterialCommandand Ms. Ann Cataldo, Deputy Assistant Secretary forDefense Exports and Cooperation, for a closed door
roundtablesessionontheoccasionofDefExpo2016inGoa. Thediscussions revolved around the contributionofU.S.industryto‘MakeinIndia,’transferoftechnologyandothercurrent issues.Around40AmChamDefenseCommitteememberswerepresent.
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AmChamDefenseCommitteemembers
Mr.NikKhanna,CountryDirector&Sr.ExecutiveIndia,RaytheonCompany,makinganobservation
Mr. Phil Shaw, Chairman AmCham Defense Committee,makingremarksduringthediscussions
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AmCham and USIBC Joint Reception on Eve of DefExpo 2016
On 27thMarch 2016, AmChamandUSIBC hosted theCounselGeneralMumbai,Mr.ThomasVajda,andotherdignitaries from the U.S. government, U.S. industryexhibitors and participants for a reception on the
occasionofDefExpo2016.TheeventwassupportedbyBAESystems,Honeywell,LockheedMartinandRockwellCollins.
(LtoR)Ms.AmadaKidwai,RegionalDirector,AmCham,Mr.ThomasVajda,CounselGeneral,MumbaiConsulate,Ms.UdayaArun,ProgramManager–Aerospace&Defense,AmCham,Mr.SwamiIyer,VicePresident,Honeywell,Ms.NiveditaMehra,CountryDirector,USIBC,Mr.PhilShaw,ChiefExecutive,LockheedMartinIndiaandChairman,AmChamDefenseCommittee
(L toR)Mr.ChadNorberg,U.S.Embassy,GeneralDennisL.Via,Commanderof theU.S.AMC,Mr.ThomasL.Vajda,U.S.ConsulGeneral,Mumbai,Ms.AnnCataldo,DeputyAssistantSecretaryofArmyforDECaddressingparticipantsattheAmCham/USIBChostedindustryroundtableatDefExpo2016
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AmChammembersduringthereception
AmChammembersduringthereception
GeneralViainteractingwiththeSikorskyTeam
AmChammembersduringthereception
(LtoR)CGTomVajda,GeneralDennisL.Via,CommanderoftheU.S.AMC,GeneralPaulJohnKern,CounselCohenGroup
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Mr.ThomasL.Vajda,U.S.ConsulGeneral,Mumbai,speakingattheDefExpo2016
AmCham Medical Devices Committee Members Interaction with Mr. Kevin Lobo, Chairman and CEO, Stryker and Board Member, AdvaMed
On28thMarch2016,ameetingof themembersof theAmCham Medical Devices Committee and a visitingAdvaMed delegation led byMr. Kevin Lobo, Chairmanand CEO, Stryker and Board Member, AdvaMed wasorganizedinGurgaon.
AdvaMedhadadelegationofitsmembercompaniesvisitNewDelhitomeetseniorgovernmentofficialsonMarch29,2016.Thepurposeofthedelegationwastohighlightthe rising concerns in the devices sector to the Indiangovernmentandtoextendfullsupporttothegovernment
andhelpthemtoresolvetheseissuesinacollaborativeway.
ThedelegationincludedparticipationfromfourAdvaMedmember companies namely Stryker, Boston Scientific,Abbott and Smiths Medical. AmCham members whoattended the meeting included participants from BD,Abbott, Boston Scientific, Stryker, India Medtronic,EdwardsLifeSciences,3M,CRBard,VarianMedicalandSt.Jude.
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AmCham Sri Lanka Tourism Delegation to India
On7thApril2016,AmChamparticipatedinaget-togetherand interactive session with the delegation mountedby AmCham Sri Lanka and the Sri Lanka ConventionBureau in Gurgaon. The visiting delegation consistedof15prominentSriLankan tourismcompaniesand the
AmCham Meeting with Under Secretary Kendall and Director Webster for an Indo – U.S. Industry Meeting
On 8th April 2016, U.S. Ambassador Richard Verma,Mr. Frank Kendall, Under Secretary of Defense, andKeithWebster,Director,InternationalCooperationfortheUnderSecretaryofDefense forAcquisition,Technologyand Logistics, met key participants from the U.S. andIndianindustryanddiscussedsuccessinDefenseTrade&Technology Initiatives (DTTI), avenuesof cooperation
beyond DTTI, transfer of technology and other issues.Members from Lockheed Martin, Boeing, Raytheon,BAE, GE, UTC and others were present and got anopportunitytosharetheirsuccessesandchallenges.KeycounterpartsfromtheIndiandefenseindustrywerealsopresent.
AmCham supported Ministry of Defence led DefExpo India
28th–31thMarch2016,AmChamsupportedtheMinistryofDefenseledDefExpoIndia2016,theninthintheseriesof biennial land, naval and internal homeland securitysystems exhibition. DefExpo provided a platform to allthe exhibitors to display their latest technologies andproductsandanopportunity toexplore themarketandbusiness potential for mutual benefits. Many AmChamDefenseCommitteemembersalsotookuptheirexhibitorslotsandshowcasedtheircapabilitiesundertheofficialU.S.InternationalPavilion.
Mr.ThomasL.Vajda,U.S.ConsulGeneral,Mumbai
Ms.SharmilaBarathan,DirectorCorporateAffairs,GESouthAsia speaking to the H.E.Mr. E.R.Weerakoon, Sri LankaHighCommissioner
Ms. Madhvi Kataria, Deputy Executive Director, AmChammeeting H.E. Mr. E.R. Weerakoon, Sri Lanka HighCommissioner
representativesofAmChamSriLanka.Thepurposewasto promoteSri Lanka as aMICE (meetings, incentives,conferences, events) destination. AmCham IndiamembershadanopportunitytomeetwiththeSriLankanHighCommissionerinIndia,H.E.Mr.E.R.Weerakoon.
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U.S.Ambassador,Mr.RichardVermadiscussingthesuccessinDefenseTrade&TechnologyInitiatives(DTTI)
UnderSecretaryofDefenseMr.FrankKendallexplaininghisviewpoint
AmCham Pharma Committee Meeting
On 22nd April 2016, AmCham organized a meetingof the members of the Pharma Committee under theChairmanshipofMr.SanjivNavangul,AmChamPharmaCommittee and MD, Janssen Pharma. The meetingwas Co-Chaired by Mr. Nick Mitchell, Board Member,AmCham, Co-Chairman, AmCham Pharma Committeeand MD, Phenomenex. Other members includedrepresentativesfromBaxterIndia.
Theagenda fordiscussion in themeeting included theresponse to the government on biosimilar guidelines,increasing the membership base in the committee,discussions on FDC bans, clinical trials scenario andinclusionofpharma/biotechintheagendafor4thNationalHealthcare Conference scheduled for 16th September2016inHyderabad.
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KOLKATAChat Session to Celebrate Women's Day
On14thMarch2016, theeventwasgracedbyeminentpersonalities from all walks of life who shared theirexperience in their journey to success through a paneldiscussion.Thethemefortheeventwas–“behindeverygreatwoman,therehastobeagreatman.”
Ms.AmadaKidwai,RegionalDirector,AmChamEasternRegion,openedthesessionbywelcomingtheaudienceand the panelists and said in her address that thetheme for International Women’s Day 2016 celebratedon 8th March was gender parity. She mentioned thatprogresstowardsthishadsloweddownacrosstheglobeeven though women continued to contribute to social,economic,culturalandpoliticalachievement.Shehopedthat all organizations ensure that their gender parityand diversity objectives would be equitable and fair.Mr.DineshAgarwal,Chairman,AmChamEasternRegion,in his opening address spoke on how our society hasevolvedandcomealongwayinencouragingwomentotakeuprolesoftheir interest, frombeingnotallowedtopursuehigherstudiesinthepasttotakingupprofessionalcoursesandexcellinginlife.Hesaidthatthemindsetofpeoplehaschangedgraduallyovertime.Inthisgradualshift,fathers,brothers,husbands,friendsandcolleaguesplayedavery important roleandshouldcontinuetodoso. The baton was then passed on to the moderatorsMs.NanditaPalchoudhuriandMr.BikramGhosh.
Ms.NanditaPalchoudhuriisasocialentrepreneurcuratingand consulting internationally, in the field of Indian folkartcraftandperformancepractices.Mr.BikramGhoshisanIndiantablaplayerwhoperformsHindustaniclassicalmusic and fusion music. He is known to experimentand reinterpretmusicandculture;hedabbles inavastrepertoireofmusicalgenres, fromclassical, rock, new-age,fusiontofilmmusic.HeiswellknownbothinIndiaandintheinternationalarena.
The interactive session was both lively and thoughtprovoking where panelists and audience had a veryinteresting interactive session. Ms. Britta Leick-Milde,GeneralManagerHyattandViceChairwoman,AmChamEasternRegion,openedthediscussionsforthepanelists.Shegaveanexampleofherown journeywhichset thetonefordiscussions.
ThesessionwasconcludedbyMs.BrittaLeick-Mildewhosaid,“Itwasawonderful interactivesessionwithaveryinteresting topic.Celebrationofwomanhood isnotonlyaboutempowermentbutalsolivingalifeinaharmoniousway.Ourcandidchataccentuatedanenvironmentofasynergybetweenbothmenandwomen.The topic, thepanellists,andaboveall,suchabrightaudiencemadeitaneveningtoberememberedforlong.Wewishtohostmoresuchsessionsinthefuture!”Theeventwasfollowedbyacreativehigh-teawithanIndiancoffeebreaktheme.
Panelistsandparticipantsattheevent Paneldiscussioninprogress
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Direct Tax Developments in the Last Financial Year
Saurav Bhattacharya ExecutiveDirectorPricewaterhouseCoopersPrivateLimited
just made a beginning. Nevertheless, better late thannever!
Pendency of direct tax disputes in India had assumedunmanageable proportions. Measures to reducelitigationwasthecryingneed.Abeginningwasmadeinthepreviousfinancialyear(2014-15)whentheMinistryofFinancedecidednottoappealtheverdictoftheBombayHighCourtinthematterofVodafoneIndiaServicesPvt.Ltd. that transfer pricing considerations do not applyto the transaction of issue of shares. 2015-16 showedcontinuation of the trendwhere the government took anumber of measures aimed at dispute minimization.Notable instanceswere;declarationofpolicy to reducenumberofdepartmentalappealstobefiledbysignificantlyincreasing monetary threshold of tax effect and evenwherethresholdswillbecrossedthefilingofappealswillbedecidedonmerits; declarationofpolicy thatbeforeintroduction of ‘buyback tax’ buyback considerationwouldnotbetreatedasdividend,etc.
On the administration front action has been started toimplement some of the recommendations of the TaxAdministration Reforms Commission. These concernmainlyrevampingadministrationandsetupoftheCentralBoardofDirectTaxesandCentralBoardofExciseandCustoms.
The last financial year also witnessed emphasis onnurturingentrepreneurship.Actionplanforstartupswaslaid down highlighting various initiatives and schemesto build a strong eco-system for nurturing innovationand empowering startups in the country. The actionplan proposes a 19-point action list which will enablesetting up of incubation centers, easier patent filing,tax exemption on profits, setting up a Rs.10,000 crore
Few financial years in the fiscal annals of India couldmatch 2015-16 in the speed and number of changesintroducedbythegovernmentinthedirecttaxfield.
Oneofthebiggestchallengesforthegovernmentwastocomeclearoftheperceptionthatithasalloweddirecttaxadministration tobecomea lawunto itself –ever readyto throwspannerat thewheelsofbusiness!Oneof themost importantsteps in thedirectionofclearing theairon that frontwas theMAT reform. Armedwith an AARruling the revenuewas relentlessly runningafter foreigncompaniesaskingthattheyshouldpayMATwhetherornottheyhadapresenceinIndia.Thegovernmentreferredthe matter to an expert committee and based on therecommendationofthecommitteeitwasfinallydecidedthatnoMATshouldapplyonaforeigncompanythathasno permanent establishment in India. Noticeable, thischangewasallowedtohaveretrospectiveeffect.
Direct taxadministrationand litigationhaveso farbeenand still largely are carried out in a very traditionalway; a notice is issued on paper, taxpayer is asked toappear in person, file its reply, again on paper and sotheprocessflows,muchlikeitusedtobeinthecolonialdays.Animportantinitiativein2015-16inthismatterwastorecognizee-mailasamodeofofficialcommunication.Tax officers now may send notices on e-mail andtaxpayersmayalsorespondone-mail,withouttheneedtopersonallyappearandfileexceptwhencircumstancesstrictly require personal appearance and filing. EvenappealstotheCIT(appeals)nowneedtobefiledonline,with pre-set size limit of ‘Statements of Facts’ and‘GroundsofAppeal.’All thesewerepreviouslytimeandpaperguzzlers.Ofcourse,muchmoreneedtobedone–alookaroundwillrevealthatcountrieshaveprogressedtomakingevencourt proceedingspaperless.Wehave
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corpus fund, ease of setting-up of business, a fasterexit mechanism, among others. Budget 2016 echoedthisphilosophywhere it hasbeenproposed toprovideadeductionof100%ofprofitsderivedbyastart-upfromatechnologyorintellectualpropertybasedbusiness.Inorder to encourage indigenous research and to makeIndia a global research hub it has been proposed thatincome frompatentsdevelopedand registered in Indiawillbetaxedataconcessionalrateof10%.
Theprincipleofmoderationof taxrateswitheliminationof tax deductions and exemptions was already laiddown in the past. Applying that principle, reduced rateof25%isproposedtobeappliedoncompaniessetuponorafter1stMarch2016andengagedinthebusinessofmanufacturing. Further, tax rate of 29% is proposedfor companies that had turnover not exceeding INR50million during financial year 2014-15. Simultaneously ithasbeenproposedthatsunsetdatesprovidedinvariousexemptionanddeductionprovisionsofincometaxlawwillnotbeextended;incaseoftaxincentiveswithnoterminaldates sunset date of 31stMarch 2017will be providedandthattherewillbenoweighteddeductionwitheffectfrom1stApril2017.
Budget 2016 also shows an attempt to expeditiouslysettletaxdisputes.DirectTaxDisputeResolutionSchemeprovidesforsettlementavenuesfortaxdisputes.
Theyearwasalsomarkedbyfranticeffortstoincreasethereachoftaxlaws;BlackMoneyLawwaspromulgatedtogetholdofundisclosedincomesandsourcesofincome.IncomeDeclarationSchemehasalsobeenproposedaspartofthebudget.
BEPShasstartedmarkingitsfootprintinIndia.Equalizationlevy of 6% has been proposed on consideration forspecifiedservicesreceivablebynon-residentsnothavingpermanentestablishmentinthecountry.Thisisafalloutof BEPS recommendation in Action Plan 1. In transferpricing, the country-by-country reporting requirementsets in from the financial year 2016-17, the necessaryproposalhavingbeenmadeinthebudget.
Thus,financialyear2015-16haswitnessedagoodpaceofthedirecttaxreformandrenovationjuggernautrolling.Letushopethatitkeepsupitsmomentum,maintainingitsdirectionright.Oneareawherethegovernmentwouldhavedonewelltokeepoff,forexample,isICDS.
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MUMBAI
On2ndMarch2016,theAmericanChamberofCommerceinIndia,inassociationwithEYIndia,organisedabudget2016-impactanalysisroundtable.
The session began with Ms. Surabhi Wahal, RegionalDirector - Western Region, AmCham welcoming theparticipants and the session’s speakers: Mr. IndranilSengupta,IndiaEconomist,Director–DSPMerrillLynchLtd;Mr.SudhirKapadia,NationalTaxLeader,EY India;Mr. Hitesh Sharma, International Tax Services Partner,EY India and Mr. Uday Pimprikar, Partner, Indirect TaxServicesPartner,EYIndia.ItwasfollowedbyMr.HiteshSharma who ushered in the ‘budget analysis’ sessionthrough his opening remarks remarking that budget2016seemstobereasonablybalanced,butcanonlybecloselymonitoredthroughthecomingyear.Themorningthenproceededwithitsfirstpresentation.
Mr.IndranilSenguptasharedhisexpertinsightsthroughasessionon‘IndiaEconomics2016-Abattleofnerves.’Hebeganbypointingouttheeffectsofthefiscaldeficit,the UP elections and India’s inherent dependence onthemonsoonsonthebudget.Thepresentationfocusedon giving a macroeconomic view of the budget whilefocusing on the fiscal consolidation path in FY 17, thepay commission, income Tax disclosure, the RBI rateout,inflation,theimpactofGSTandtherelevanceofthebudgetatthestatelevel.
The morning carried onward with a detailed andinformativepresentationontaxandregulatoryproposalsinbudget2016byMr.HiteshSharma,Mr.SudhirKapadia,Mr. Uday Pimprikar and Mr. Subodh, EY India. Thepresentationdwelledonthepolicyinitiativesthatwereput
forth - agricultural & rural, reforms in infrastructure andinvestment,educationandskillsetbuilding.
Thepresentationbroughttolightthegovernment’sfocusonMakeinIndiaandtheeaseofdoingbusiness,financialsector reforms, direct and indirect tax and regulatoryproposals in financial services, key international taxreforms,taxrates,keytaxupdatesandtaxadministrativeReforms.
The presentation was followed by an interactive andengaging Q&A session covering a range of queriesand viewson the implicationsof thebudget 2016. Theroundtable endedwithMs. SurabhiWahal thankingEYIndia,thespeakersandtheparticipantsforcreatingsuchaninteractiveandenlighteningsession.
Budget 2016: A Post Budget Analysis with Knowledge Partner Ernst & Young & Bank of America
Roundtable on ‘Women in Business’ with Miss America, Ms. Nina Davuluri
On3rdMarch2016, tocelebratewomenempowermentand as a build up to International Women’s Day, theAmericanChamberofCommerceinIndiainco-operationwith the U.S. Consulate General in Mumbai and theBombayChamberofCommerce,andIndustryorganised
a roundtableonwomen inbusinesswithMissAmericaNinaDavuluri.
The session beganwithMr. PhilipW.Roskamp, PublicAffairs Officer, U.S. Consulate Mumbai, welcoming
Postbudgetdiscussioninprogress
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(LtoR)Ms.WinnieLobo,Ms.SurabhiWahal,AmChamwithMissAmerica,Ms.NinaDavuluri
the participants and introducing the session’s speakerMiss America 2014, Ms. Nina Davuluri. While sharingabackground toMs.Davuluri, hewenton tostate thatNina was one of over 14,000 young women to vie forthecovetedtitleofMissAmerica2014.InSeptemberof2013,shegainedinternationalacclaimbybecomingthefirstcontestantofIndiandescenttowintheMissAmericaCompetition which immediately sparked a boomerangeffect here in India, on subjectsof global ethnicity anddiversity.
ThecharmingMs.NinaDavuluribeganwithherstoryasyounggirlgrowingupinAmericaandwithstrongfamilialroots in Vijaywada, Andhra Pradesh, her experienceof findingher identity,growingupas the ‘Indiangirl’ inschool and college, notions of beauty and confidence,misconceptions due to cultural differences, diversity,ethnicity.BelievingthatshecouldwintheMissAmericapageant, to represent the spirit of global diversity shetook up the challenge. Over the course of the Nina'syear of service as Miss America, she has addressedan array of audiences on her platform: "CelebratingDiversity through Cultural Competency." As part of herconsciousness-raisingeffortsonbehalfofdiversity,Ninaalsolaunchedasocialmediacampaign,‘CirclesofUnity’toencourageconstructiveandcivildialogueondiversityissues.Sheisproudtohavespokenatalmost35different
universitiesincludingHarvard,Princeton,Yale,Duke,andUniversity of Pennsylvania spreading her message ofinclusion.Inadditiontoherpersonalplatform,Ninaalsohas a partnership with the U.S. Department of EnergyandtheU.S.DepartmentofEducationpromotingwomenin STEM (science, technology, engineering, and math)relatedfields.ShehascollaboratedwithtechcompaniessuchasGoogle,Facebook,DellandTexasInstrumentstoadvancetheirSTEMinitiatives.
The informal interaction that ensued brought forthdiscussionsthataimedatsolutionstodissolvinggenderstereotypes and breaking notions of beauty vs brains,thedilemmaofwomenbeing cagedbyperceptions ofwhatsocietyexpectsofthem.Onthebrighterside,itwasnotedthatinthepast20yearstherehasbeenapositivelyincreasing number of empowered working womenin India, not only in cities but also in rural societies.The possibility of collaborating to build a platform thatleverageseducatedwomenworkingoutofhome in thefieldofSTEMwasalsoahighpointindiscussion.
Themorningdrewtoaclosewithkindwordsofmotivatedencouragement around the table. Mr. Phillip RoskampthankedAmCham,theBombayChamberofCommerceand Industry and the participants for creating such ameaningfulandinsightfulsession.
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Roundtable on “Brand India - How is India Perceived from Within and Without”
Theroundtableon“BrandIndia–HowisIndiaPerceivedfrom Within and Without," an initiative of AmCham’sWesternRegionCommittee,wasorganizedbyAmCham,in association with Resources Global Professionals. Itaimedtocoveratopicofmuchdeliberationinourcurrenttime–“BrandIndia.”
The breakfast event began with Ms. Surabhi Wahal,RegionalDirector–WesternRegion,AmCham,welcomingtheparticipantsandthespeakerfortheevent,theeminentindustry leader Mr. R. Gopalakrishnan. Mr. MaheshKrishnamurti, Managing Director, Resources GlobalProfessionals (I) Pvt. Ltd. set the stage with a preludethatshedlightonthecomplexitiesanduniquenessthatis India, a land of incredible riches as well as abjectpoverty,anemergingeconomicsuperpowerandalsoalandwithalargepopulationdeprivedofbasicamenities.Mr. Krishnamurti through his remarks pointed to theimportanceofunderstandingtheperceptionofIndiafromtheoutsideandmoreimportantlyfromwithinIndia.
Mr. R. Gopalakrishnan, Author and Corporate Advisor,Mindworks, shared an enlightening talk that broughtforthcore realitiesofunderlying factors thatmake Indiawhat it is.Hebeganby going back to the evolution ofthe world’s known civilizations and the conditioningeffectthatithasplayedonthecultureofcountries.Withexperiential examples, Mr. Gopalakrishnan elaboratedonIndia’spoliticalandeconomicevolutionwhilesaying
that the Indiangrowth chart hasbeenuniquelydistinctascomparedtoitswesternoreveneasterncounterparts.Culturallyandsociallyagain,Indiahasretainedmuchofitsoriginalbeliefsandstructures.Simultaneously,theIndiancitizen is also greatly influenced by global culture. Theinfluenceofthesefactors,Mr.Gopalstated,hasmanifestitselfinauniquemindset–inthework,homeandglobalspace.Whilecomparing India toacolloid,hesaid thatIndiansareunconsciously tryingtobalanceadualityofthought.“IndianmanagerstodaythinkinEnglish,butactIndian.”Mr.Gopalendedhispresentationstatingthatanationisnotitspast,butwhatitmakesupitspresent.
An interactive Q&A session followed which put forthperspectivesondistinctIndianmethodologiesintheworkworld,theideasoftime,punctuality,competitivenessandtheculturalstrategyofbuildingemotionalinfrastructuretofacilitatebusiness.Thesessionalso invitedparticipantsto share feedback on the type of events or topics thatwouldbeofinterestintheyear2016-2017,soastoenableAmCham’s Western Region to direct its efforts towardbuildingevenmorevaluableeventsforitsmembers.
Theeventconcludedwithavoteof thanksbyMr.MarkMartyn-Fisher,CountryManager,UPSJetairExpressPvt.Ltd., who thanked AmCham and RGP for creating theopportunity to hear from such a distinguished industryleaderasMr.GopalakrishnanandalsotheopportunitytolearnandinteractwithfellowAmChammembers.
Mr. R. Gopalakrishnan. Mr. Mahesh Krishnamurti,Managing Director, Resources Global ProfessionalsexplainingIndia’seconomicevolution
Mr. R. Gopalakrishnan. Mr. Mahesh Krishnamurti,Managing Director, Resources Global Professionalsinteractingwiththeparticipants
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AmCham supported ‘India Supply Chain 2016’
On6thApril2016, ‘The IndiaSupplyChainConference2016’ organized by SCM Programs was supportedby AmCham as associate partner. The forum broughttogetherbusinessandacademicleaderstodiscussthelatestinfrastructuretrends,policyrebootsandchallengeswithintheIndiansupplychaindomain.Thepresentationsandengagingdiscussions throughthedayalsosoughtnovel and innovative solutions to transform the supplychainchallengesarisingfromthe‘MakeinIndia’programintoopportunities forallareasofbusiness in India.TheeventwasalsoanopportunityforinternationalpartnerstoexploreopportunitiesinthenewsupplychainsofdigitalIndia’sburgeoninge-commercesector.
ThefulldayeventbeganwithaspecialaddressbySwamiSarvalokananda Maharaj, Adhyaksha, RamakrishnaMathandakeynoteaddressbyMr.AmbarishDasgupta,Partner and Head Management Consulting, KPMG.Amongthevarioustopicsinthesupplychainarena,theeventfocusedon:
• Infrastructurerequirementsthatenablethe‘MakeinIndia’supplychain
• Policyreboot-challengesofanewpolicyenvironment
• Marketentry-theviewfromoutsideIndia
Amongthemanyparticipatingentities,theeventincludedactive participation from supply chain leaders fromAmChammembercompanies,aswellasmembersfromAmCham’sSCLCommitteeon theprestigiouspanelofspeakers.Paneldiscussionsandpresentationsbroughtforth key insights and knowledge from governmentofficials and senior supply chain professionals fromleading industries ranging fromconsultancies, logistics,shipping,pharmaceuticalsandFMCG’s.
The conference closed with a presentation of IndiaSupplyChainAwardsandanaddressbyMr.ShantanuBhadkamkar, President, Maharashtra Chamber ofCommerce,IndustryandAgriculture.Anetworkingdinnerconcludedtheday’sevent.
Technology & Innovation in Supply Chain: Featuring Best Practices at Instavans & BlackBuck (Logistics)
On 21st April 2016, an interactive roundtable discussionwas organized by AmCham’s Supply Chain & LogisticsCommittee "entitled ‘Technology & Innovation in SupplyChain:FeaturingBestPracticesatInstavans&BlackBuck.'"
Mr.NikhilKush(E.I.DuPontIndiaPvt.Ltd.)Chairperson,AmChamSupply Chain & Logistics Committee set thestage emphasizing the significance of supply chaindisruption and supply chain aggregators in evolvingindustrypractices.
Mr. Vinay Goel, Founder & CEO, Instavans and Mr.Subramaniam, Co-Founder, BlackBuck Logisticsengaged with the participants through insightfulpresentationsaswellaslivedemosontheandroidapptaking the audience step by step through the processas well as advantages offered by truck aggregators.Participants shared their personal experiences andbenefits of leveraging these specialised services. Thediscussions also brought forth the impact logisticsand transportation can have on the overall business
performanceandtheneedfororganizationstooptimizetheirsupplychainoperations.
Mr.SriniSarangapani (TimkenEngineering&ResearchIndia Pvt. Ltd.) Co-Chair Supply Chain & LogisticsCommittee,AmChamIndia,concludedtheeventwithavoteofthanks.
ParticipantswiththeguestspeakersMr.VinayGoelfromInstavans&Mr.SubramaniamfromBlackbucks
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HYDERABAD
On1stMarch2016,AmChamhadaninteractivebudgetsessioninpartnershipwithErnst&YounginHyderabad.
Thesessionconcentratedon:
• Budgetbackdrop
• Keypolicyinitiatives
• Directtaxproposals
• Indirecttaxproposals
Lowercorporatetaxburden,simplificationoflaw,briningclarity in lawandensuringnonadversarial regimewerealsodiscussed,aswellas,anincreaseinplanexpenditureovernonplanexpenditure.
Someofthehighlightsofthebudgetincludeadedicatedlong term irrigation fund tobecreated inNABARDwithaninitialcorpus.Alsointheagricultureandruralsector,a 100% village electrification by March 1, 2018 wasannounced.
Inthesocialsectorabout200billionwasearmarkedforundertakingamassivemissiontoprovideLPGconnectioninthenameofwomenmembersofpoorhouseholds.
Therewasalsoanannouncementofahealthinsurancescheme which protects one third of India’s populationagainst hospitalisation expenditures. There were quitea few reforms in the financial sector and initiatives topromote‘MakeinIndia.’
The session was attend by AmCham members inHyderabad.
Budget Session with Ernst & Young
Asectionoftheaudience
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AmCham Hyderabad Members Meet
On14thMarch2016, theAmChamMembersMeetwasheld at theWestinMindspace.During thismeeting theHyderabadChapter held elections for chairperson andvicechairperson.
DiscussionsalsoincludedstepstobetakentoincreaseattendanceatAmChammeetings,howtogetallmembersinvolvedandultimatelygenerateinterestinbeingpartofAmCham.
Thememberspresentthankedtheout-goingChairman,Madan Mohan, S&P Capital IQ, for his leadership asChairmanofAmChamHyderabadChapterfor2014-2015andwelcomedthenewChairperson,KiranmaiPendyala,CorpVPHR,AMD,andViceChairman,KaustavBanerjee,CountryDirectory,St.JudeMedical.
Mr.JayeshSanghvi,PartnerErnst&Young
Healthcare Working Committee Meeting
On 1st April, members met for the healthcare workingcommittee meeting at the office of West Pharma anddiscussed various topics and sessions regarding the
subjects tobecoveredat the4thAmChamHealthcareConference.
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On21stApril,AmChammetwithMs.NishaDesaiBiswal,the U.S. Assistant Secretary of State for South andCentralAsianAffairs.She isalso thedepartment’s leadonthebilateralU.S.Indiarelationshipincludingbusiness,commercialandpoliticalaffairs.MembersmetwithMs.NishaatthePearlRoom,TajKrishnaoverbreakfastanddiscussedtheeaseofdoingbusinessinIndiaandother
issuesfacedbyAmericancompaniesinIndia.Ms.Biswalaskedwhat theycouldaddress in theirdiscussionwiththegovernmenttoenableeaseofbusinessinpracticality.Thestart-upboominIndiawasalsodiscussed.TheT-hubinHyderabadisoneoftheexamplesofencouragementtoentrepreneurs.
Meeting with Ms. Nisha Desai Biswal, U.S. Assistant Secretary of State for South and Central Asian Affairs
(LtoR)Ms.NishaDesaiBiswal,U.S.AssistantSecretaryofStateforSouthandCentralAsianAffairsandMr.MichaelMullins,U.S.ConsulGeneral,Hyderabad
AmCham members during the discussion with Ms. NishaDesaiBiswal,U.S.AssistantSecretaryofStateforSouthandCentralAsianAffairs
Ms.NishaDesaiBiswalU.S.AssistantSecretaryofStateforSouthandCentralAsianAffairs
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CHENNAI
On3rdMarch2016,therainsandthefloodsinChennaiduring November & December last year taught allChennai residents very valuable lessons on how tomanageacrisis,whencaughtunawares.Noamountofplanningandprecautionwasenoughtoprotectbothlifeandpropertyandmanagebusinesscontinuity.
We are happy to have Cognizant, Dow Chemicals,
Caterpillar,FordIndia,USConsulateandNTTDatasharethe extent of damage, disaster recovery best practicesandbusinesscontinuitymeasuresthatweretaken.
CBRichard Ellis would alsomake presentations givingan update on the residential and commercial realty inChennaipostfloods.
Breakfast Meeting – Sharing best practices on managing crisis during natural calamities
Breakfast Meeting on the Impact Analysis of Budget 2016 on Manufacturing
Thisbreakfastmeetingwasheldon7thMarch2016.
Program facilitators fromDeloitte:KumarKandaswamy,Manufacturing Leader, Partner, Consulting; RajeshSrinivasan, Manufacturing Leader – Tax, Partner, Tax;Parikshit Datta, Partner, Transfer Pricing and L SayeeMohan,Director,IndirectTaxation,Deloitte
Key take-aways:
• Policy updates: 100 FDI through FIPB route inmarketingfoodproductsmanufacturedinIndia
• 1500multiskilltraininginstitutestobesetupacrossthecountry
• HybridinstrumentstobeeligibleforFDIroute
• Proposal forCentreState InvestmentAgreement tofacilitateBilateralInvestmentTreaties
Corporate Tax Highlights:
• Corporatetaxfordomesticcompaniesreducedto29%
• Domestic manufacturing companies set up afterMarch1,2016canopt for taxat25%+surchargeandcess,providedtheydonotclaimincentives
• Phasingoutdeductionsandincentives
• New SEZ units that commence operations beforeMarch31,2020canavailtaxholidaybenefits
• Depreciationreducedto40%
• Positivechangesinweighteddeductiononcapex,skilldevelopment,R&D
• Acquisition and installation of new plant andmachinery in same year is relaxed for claiminginvestmentallowance
• POEM to determine residential status deferred byoneyear
• GAARtobeeffectivefromApril1,2017
• BEPSreportingregimeinCbCreporting
• Direct tax Dispute Resolution Scheme to provideadditional option for taxpayers to settle pendingdisputesatthefirstappellateauthority
• Provisionforfasttracktaxrefundsintroduced
Indirect Tax Highlights:
• Downward revision in customs duty for IT, capitalgoods, textiles, minerals, mineral oils, etc. toincentivizedomesticmanufacturing
• Exemption on certain imports withdrawn to boost‘MakeinIndia’
• Dutydrawbackschemewidenedtobenefitexportsector
• Excisedutyreducedforinputsfor‘MakeinIndia’
• Cleanenergycessincreasedforcoal,ligniteandpeat
• Reductioninnumberofexcisereturnfrom27to13
• ApportionmentofCENVATcreditbetweenexemptedandtaxableproductssimplified
• Flexiblecredittransfermechanism
• Service tax not payable on IT software recorded onmediawhenexcisedutyispaidunderretailsaleprice
• Thoughmuchmoreneeds tobedone tomake thetaxation regime stable with a long term vision, wehopeastarthasbeenmadetoimprovetheeaseofdoingbusinessinIndia
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Corporate Members
Additional Member
Mr. Ranjit SinghDirector
Jarvis Equipment Pvt. Ltd.
Vikas ShahChief Operating Officer
Water Health India Pvt. Ltd.
Mr. Ranjan PatnaikDirector – DuPont Knowledge Center (DKC)
E.I. DuPont India Pvt. Ltd.
AmCham Welcomes New Members
Mr. Gaurav SinghGeneral Manager
Courtyard by Marriott and Fairfield by Marriott
Mr. Girish JoshiCountry Head – India & South Asia
Halyard Health India Pvt. Ltd.
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Regional Secretariat
National Secretariat
Mr. L.N. Agarwal Senior Manager & OSD
Email : [email protected]
Ms. Paridhi Goel Thakur Program Lead
Email : [email protected]
Ms. Tanya PaulCommunication Director
Email : [email protected]
Ms. Sudeshna Ghosh Regional Director - Karnataka Chapter
Email : [email protected]
Ms. Ruth Sandya RodriguesRegional Director - Hyderabad Chapter
E-mail : [email protected]
Mr. Yeshi DorjeeManager (Publications & Logistics)
Email : [email protected]
Ms. Madhvi KatariaDeputy Executive Director
Email : [email protected]
Ms. Mamta UppalMembership & Admin Manager
Email : [email protected]
Ms. Shivani RainaProgram Director-ECP
Email : [email protected]
Mr. Aubrey DanielsRegional Director - Tamil Nadu Chapter
Email : [email protected]
Ms. Valerie Swope Program Coordinator
Email : [email protected]
Mr. Gaurav Mendiratta Sector Manager – Medical Devices Email : [email protected]
Ms. Udaya Arun Program Manager - Aerospace & Defense
Email : [email protected]
AmCham Team
Ms. Surabhi WahalRegional Director - Western Region
E-mail : [email protected]
Ms. Amada Kidwai Regional Director - Eastern ChapterE-mail : [email protected]
