Index
Contents
Index
President’s Message.....................................................................................
India Signs MoU with USA on Setting-UpInfrastructure Collaboration Platform..................................................
President’s Message
Dear Member,
There are many positive developments that have unfolded in recent days that can impact th...
IACC has been taking regular initiatives in creating newer ideas and approaches for cementing the India-US economic
cooper...
From the Secretary General’s Desk
Dear Members,
An investmentof over$ 1 trillionisneeded for toning up the Indian infrastr...
Happenings at IACC
West India Council
IACC in association with Nishith Desai Associates organized a program on “Internatio...
Participants listening intently to the panel discussion
Interactive session with Mr. K. V. Chowdary, Chairman of Central B...
Ms. Rajyalakshmi Rao, Regional President, IACC-WIC welcoming Mr. K. V. Chowdary, Chairman of Central Board of Direct Taxes...
Gujarat Branch
Interactive Meeting with the Mr. Thomas L. Vajda, U.S Consul General, US Consulate Mumbai at Hotel
Radisson...
(L- R) Ms. Camille Richardson, Principal Commercial Officer, USCS; Mr. Thomas L. Vajda, Consul General, US Consulate; Mr. ...
Interactive meeting in progress with Mr. Vajda
Mr. Thomas L. Vajda with IACC Council members
Pune Branch
IACC and U.S. Commercial Service jointly inaugurated ‘American Business Corner’ on October 20, 2014 at
Mahratt...
Mr. Dillon Banerjee getting introduced to Mr. Surendra Kumar Jain, Presi dent MCCIA as Ms. Camille Richardson and Mr. Shal...
Mr. Thomas L. Vajda inaugurating the American Business Corner as Mr. Prashant Pansare looks on.
Exchange of MoU’s (Memoran...
North India Council
Indo-US Economic Summit: Convergence and Connectivity in Indo-US Economic Relations, on
October 15-16,...
Dr Lalit Bhasin, Summit Chairman and Regional President, IACC delivering the Welcome Remarks
Mr. Asoke K Laha, National Pr...
Releasing of Study Book prepared by Kochhar & Co. the Knowledge Partner
(L-R) Mr. Sanjay Mehta, Regional Vice President, I...
Dr. Kamlesh Bajaj, CEO, Data Security Council of India (DSCI) led the session on IT & Cyber Security. Mr. Ashish Sonal,
Fo...
Mr. Atul Sharma, Past Regional PresidentIACC-NIC,andManagingPartner,LinkLegal India Law Services, led the Aviation
Session...
The Educationand Skill Development session was led by Mr. Vivek Singh, Director, Grant Thornton India LLP. Mr. Sanjay
Meht...
Mr. Baljit Sobti, Managing director, Systems Tek India Pvt. Ltd. led the Hospitality and Tourism session, along with Mr.
J...
The session on International Trade opened day 2 of the Summit and was led by Mr. Kamal Meattle, Past National
President IA...
The nextsessionone-Commerce,the ChangingParadigm, was led by Mr. Sanjay Mehta, Regional Vice President, IACC &
Managing Di...
Mr. Sandeep Marwah, Chairman, NIC’s Media and Entertainment Committee & Director of Asian Academy of Film &
Television & A...
The last session of the day “Exchange of Services: Cooperation in Accounting, Financial & Legal Services” was led by Mr.
A...
South India Council
Tamil Nadu Branch
Networking Meet with Ambassador Kathleen Stephens, Chargé d’ Affaires, U.S. Embassy,...
Trade Opportunities with IACC
Trade Opportunity fromUSA
Sr. No. Business Interest of the Company Contact details
1. Simmon...
US investments in India
Cisco to invest $1.7 billion in India this year; to partner Centre’s digital drive
Nearly three mo...
Nowwe are movingintothe nextphase where we are goinginto a lot more detail about the deployment and the project
plan,"Malk...
(McKinsey),GeetaAiyer (Boston Common), Kamesh Aiyer, Pradeep Singh (Aditi), Bharat Shah (Microsoft), Anoop Gupta
(Microsof...
India’s Investments in U.S
Tech Mahindra buys Lightbridge Communications Corporation for $240 million
Tech Mahindra,India’...
December 15, according to Govindarajan. On the question of funding the acquisition, he said it would be done through
debta...
Indo-US Corporate News
Microsoft to use ‘white space’ tech for free internet in India
MicrosoftIndiais ready with a plan t...
The order notedthatNewMoon has claimedthatAbbott's acquisition of 22% in it is only in the nature of an investment.
But th...
IBM's move to help start-ups comes on the back of similar announcements it made for small- and mid-sized firms.
On 15 July...
In a seasonof megaonline sales,Google'sthirdeditionof GOSFisexpectedtocreate a biggerhype thanthe last two years
as it pla...
Made-in-India KTM Duke 390, RC 390 heads to America: Launch price starts at
$4,999 (Rs 3.08 lakhs)
KTM RC 390
KTM has anno...
Huge demand for cars will turn around Ford's fortunes in India: President Nigel
Harris
About a decade and half since and a...
Despite the EcoSport posting high volumes, Ford India is losing money. Its loss swelled more than 40% to ` . 597 crore in
...
"Earlier, we had planned to open 3-5 stores in the first year and depending on the off-take, we would plan further
expansi...
Oracle Academycurriculumto our students and teachers, and believe this educational foundation will help prepare our
studen...
"Findingthe right partner is a big challenge," said Sahgal. Also, availability of good quality supplies and connectivity a...
In the News:
'Infra sector to be main focus area for Indo-US commerce ties'
Mr. Arun M Kumar, Director General of the U.S....
U.S. President Barack Obama to be chief guest at Republic Day celebrations
U.S. President Barack Obama will attend India's...
Duringhis21 monthsin office,Hagel openedupthe US militaryforthe Sikhs,alongpendingdemandof Indian- Americans
that Sikhsbe ...
StatesTrade PolicyForum(TPF).The twogovernmentssignaledtheirreadinesstoenhance bilateral trade and investment
ties in a ma...
IACC Newsletter October 2014 Final
IACC Newsletter October 2014 Final
IACC Newsletter October 2014 Final
IACC Newsletter October 2014 Final
IACC Newsletter October 2014 Final
IACC Newsletter October 2014 Final
IACC Newsletter October 2014 Final
IACC Newsletter October 2014 Final
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IACC Newsletter October 2014 Final
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IACC Newsletter October 2014 Final
IACC Newsletter October 2014 Final
IACC Newsletter October 2014 Final
IACC Newsletter October 2014 Final
IACC Newsletter October 2014 Final
IACC Newsletter October 2014 Final
IACC Newsletter October 2014 Final
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IACC Newsletter October 2014 Final

  1. 1. 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
  2. 2. 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
  3. 3. 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.
  4. 4. 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
  5. 5. 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
  6. 6. 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.
  7. 7. 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.
  8. 8. 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
  9. 9. 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
  10. 10. (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
  11. 11. Interactive meeting in progress with Mr. Vajda Mr. Thomas L. Vajda with IACC Council members
  12. 12. 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.
  13. 13. 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
  14. 14. Mr. Thomas L. Vajda inaugurating the American Business Corner as Mr. Prashant Pansare looks on. Exchange of MoU’s (Memorandum of Understanding)
  15. 15. 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.
  16. 16. 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.
  17. 17. 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
  18. 18. 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;
  19. 19. 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.
  20. 20. 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)
  21. 21. 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
  22. 22. 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;
  23. 23. 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.
  24. 24. 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.
  25. 25. 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.
  26. 26. 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.
  27. 27. 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 Click here for index
  28. 28. 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.
  29. 29. Nowwe are movingintothe nextphase where we are goinginto a lot more detail about the deployment and the project plan,"Malkani said.The fourcitiesinclude Dholera Special Investment Region in Gujarat, Shendra Bidkin Mega Industrial Park in Maharashtra, Manesar Bawal Investment Region in Haryana and Khushkhera Bhiwadi Neemrana Investment Region in Rajasthan. Copyright © 2014, Bennett, Coleman & Co. Ltd. All Rights Reserved. Click here for index New York City based Rockefeller Foundation to set up 1,000 mini power grids across rural India In itseffortstoprovide electricityforrural populationof the country,the Rockefeller Foundation i s working on a USD 100 million (Rs.614 crore) initiative to establish 1,000 mini power grids in the next three years, a PTI report stated. The first30 mini gridsare expectedtobe setup,mostlyin Bihar and Uttar Pradesh, by the end of this year, according to a senior official of the foundation. The foundation, which works for betterment of human lives in different parts of the world, would be putting in USD 65 million(nearlyRs.400crore) for the mini gridsinitiative."Ourcontributionwill be USD 65 million but the total cost will be higher. Total cost would be around USD 100 million for 1,000 mini grids," the foundation's Associate Vice President and Managing Director (Asia Program Team) Ashvin Dayal told the media. The projects would have equity participation from companies. Generally,amini powergridwould help cater to 150-250 households with about 1,000 people. The amount of electricity such grids can carry would be in the range of 65-75 kilowatt hours. Setting up of mini grids would help in increasing electrification in India where about 53 million households are without access to power. "We are not going to provide grant funding completely... We will be providing concessional debt, grant financing for additional support that is needed. Companies will put in their own finance," Dayal said. While the firstsetof 30 mini gridswouldbe readybythe endof thisyear,the foundationhasseta target of setting up 200 such grids by 2015 end. "By end of 2017, we expect to have 1,000 mini grids," Dayal said. For these mini grids, the foundation would focus on districts in Bihar, Eastern Uttar Pradesh, Jharkhand and Odisha, among other states. The foundation has been experimenting with two to three pilot projects in India for the past two years. "We are working with a set of companies which will actually establish and operate mini grids either as generators or generatorsanddistributorsorjustas distributors.We are working with NGOs for community engagement...," Dayal said. The foundation also had initial discussions with the ministries of power as well as new and renewable energy. The government -- which is working on a multi-pronged strategy to boost fuel supplies, ramp up power generation and increase transmission networks -- aims to provide electricity for everyone by 2019. Copyright © Press Trust of India 2014, All Rights Reserved Click here for index Bill Gates Backs Impact Investor Unitus Seed Microsoft co-founder, Bill Gates has backed impact investment firm, Unitus Seed, along with a clutch of 15 other HNI's enabling the Indian rupee fund to raise a total of $4 Million to invest in startups targeting the BoP space. The investmentof Bill Gatescame fromthe personal fund (not from the Gates Foundation) with a corpus of $1 Bn, set up by the world’ssecondrichestmantoprovide equity, loans and loan guarantees to for-profit companies. The other HNI’s who have helped Unitus raise funds include Desh Deshpande (formerly Sycamore Networks), Romesh Wadhwani (SymphonyTG),VinodKhosla(KhoslaVentures),Steve Singh(Cleartrip,Concur) SomaSomasegar (Microsoft), Dilip Wagle
  30. 30. (McKinsey),GeetaAiyer (Boston Common), Kamesh Aiyer, Pradeep Singh (Aditi), Bharat Shah (Microsoft), Anoop Gupta (Microsoft), Nagesh Pabbisetty (Microsoft), Prady Misra, Vikram Chalana (Winshuttle). Unitusinvestsinthe countrythroughtwoof itsfundsUnitus Seed Fund India, a SEBI registered VC fund, and Unitus Seed Fund, LP an offshore venture capital fund. The offshore fund has over 50 investors putting in close to $17 Million in the fund. Targeting the healthcare, education, mobile commerce & value-added services, marketplaces & e-commerce, retail & distribution, agriculture, and water & energy sectors, fund has made 14 investments with a ticket size of $100K-250K. Some of its investees include: Blowhorn, an online marketplace for last mile logistics; pediatric primary healthcare network, AddressHealth Solutions; Jiffstore, a mobile commerce retail platform; mGaadi, a mobile ordering service for autorickshaws; Smile Merchants, a dental clinics chain owned by Free 3 Healthcare Services among others. Intellecap, another impact investor estimates that $1.6 Bn of capital has been invested in more than 220 impact enterprisesacrossIndia,withmore thanhalf of the investments in microfinance with Unitus expecting a 30% increase in these investments this year. Copyright © 2014, Bennett, Coleman & Co. Ltd. All Rights Reserved. Click here for index
  31. 31. India’s Investments in U.S Tech Mahindra buys Lightbridge Communications Corporation for $240 million Tech Mahindra,India’sfifth-largestITservice companyhasentered into an agreement to buy US-based network services company Lightbridge Communications Corporation (LCC) for $ 240 million (Rs 1,486.5 crore). The deal, expected to close by the January-March quarter, makes it the company’s its largest acquisition after it bought over Satyam five years ago. Tech Mahindra bought trouble-ridden Satyam for Rs. 2,889 crore in 2009. The VirginiaheadquarteredLightbridgeisone of the largestindependentglobal providersof networkengineeringservices to the telecommunicationsindustry,withmore than5,000 employeesinover50countries,andannual revenuesin excess of $400 million(Rs2,478 crore),saida statementfromTechMahindra. “We expectnetworkservicesto be a major growth engine for our organisation,” said Vineet Nayyar, executive vice chairman of Tech Mahindra. “We will now be the largest and most comprehensive provider of technology services to communications service providers,” said CP Gurnani, MD & CEO, Tech Mahindra. Following the acquisition, Tech Mahindra’s revenue for the financial yearmaysee an upward adjustment of 10.3% in 2015-16 from what was estimated earlier, according to Sarabjit Kour Nangra, vice president, research, Angel Broking. “However,the deal may be margin-dilutive for the near term,” she said. For the financial year 2015-16, Tech Mahindra's revenue would be Rs. 27,484 crore and net profit Rs. 3,666 crore, according to Angel Broking estimates. Copyright © 2014 HT Media All Rights Reserved Click here for index Aurobindo wins Natrol bid with $132 million Company set to enter the branded nutraceuticals business Hyderabad-basedAurobindoPharmaLimitedsaidrecentlythatit'sUS subsidiaryAurobindoPharma USA Inc.wasemerged as the highestbidderwith$132 million(aroundRs812.5 crore) for acquisitionof nutritional supplement maker Natrol Inc and other affiliates. Throughthisacquisitionthe companyaimstodiversifyitsoperationsbeyond the traditional generics business especially into the nutraceuticals targeting the US and other international markets. The auction process for the acquisition of the assetsof Natrol withan agreementtotake on certainliabilitieswasinitiatedbythe UnitedStatesBankruptcyCourtfor the Districtof Delaware afterthe companyfiledforbankruptcyinJune thisyear.Natrol stated in the bankruptcy petition that it hadup to $ 500 millionassetsandupto $ 100 millioninliabilities,accordingtothe reports.The auctionwaslaunchedon November 10 with an offer of about $ 90 million, which was bested by Aurobindo. In a statement Aurobindo said Natrol is an excellent strategic fit and provides the right platform for creating a fully- integrated OTC platform in the USA and in other international markets. "The acquisition of Natrol along with some incremental investmentandthe R&D wouldhelpachieve ouraspirationof entering the branded nutritional supplements business which offers a good value. The size of the nutraceuticals business in the US is about $ 35 billion, which is expected to go up to $ 55 billion by 2020," N Govindarajan, managing director of Aurobindo told media. Manufacturing of all the products of Natrol was being done in the US and Aurobindo would continue with these operationsastheytendto be cost competitive,accordingtohim.Natrol is a 30 plus year brand with seven of its products completing 20 years in the US market enjoying a loyal and a stable customer base, he said. The process of acquisition, which is subject to final approval by the US Court, including other statutory approvals, is expected to be completed by
  32. 32. December 15, according to Govindarajan. On the question of funding the acquisition, he said it would be done through debtand internal accruals: “We have enough head room for raising fresh funds as we had already reduced the debt to $ 400 million from a peak of $600 million ". On the valuation front the acquisition was reasonable, according to Angel Broking. “On the funding part, the company can easily fund the same, as the company has comfortable debt: equity of 1:1", it said. Based in California, Natrol, a unit of Plethico Pharmaceuticals Limited of India, was acquired for about $ 82 million in October 2007 by Plethico. Angel Broking says Natrol's sales should be around $ 100 million and given the size of the Aurobindo, the acquired company will form around 4-5% of its FY 16 sales and profitability. Led by a strong growth in US Generics business, Aurobindo reported a 58.4% jump in net profit at Rs 372.18 crore in the second quarter ended September, 2014. Revenues also witnessed a 50.5% growth at Rs 2,881.22 crore in that quarter. A Wall StreetJournal reportsaysNatrol filedforChapter11 BankruptcyProtectioninJune, under pressure from Cerberus BusinessFinance LLC,andeventuallyagreedtoputitself forsale topayoff itsdebtsto itslender.Inadditiontocash to pay Cerberus,AurobindoPharmaUSA Inc. hasagreedto take on some of Natrol'sunpaidbills,accordingtothe papers filed on Monday in the US Bankruptcy Court in Wilmington. Accordingto reportsappearedinthe monthof June, Natrol was also has been the target in the past year of at least 3 law suitsseekingclassactionstatus.Theywere filedquestioningthe claimsof the advertisedbenefits of glucosamine -related supplements produced by the company. Natrol denied the allegations. Copyrights © 2014 Business Standard Ltd. All rights reserved. Click here for index
  33. 33. Indo-US Corporate News Microsoft to use ‘white space’ tech for free internet in India MicrosoftIndiais ready with a plan to provide free last-mile internet connectivity across the country. It proposes to use the "white space" - the unusedspectrumbetweentwoTV channels - to provide free connectivity to large sections of the Indian population. "Wifi has a range of only about 100 metres, whereas the 200-300 MHz spectrum band available in the white space can reach upto 10 km,"saidBhaskar Pramanik,chairman,MicrosoftIndia."Thisspectrumbelongsmainly to Doordarshan and the government and is not used at all. We have sought clearance for a pilot project in two districts." If the pilotsare successful, the project can be quickly rolled out across the country and could give a huge boost to Prime MinisterNarendraModi'sDigital Indiainitiative,whichproposestouse technology to deliver governance to every citizen of India,eveninremote areas. "The challenge isthe lackof digital infrastructureacrossIndia.Thisinitiative addresses this challenge in a cost-effective manner and creates an eco-system that will benefit everyone, including manufacturers of routers and other technology devices, other technology companies, besides Microsoft," Pramanik said. Microsoft'sinitiativealsotake forwardthe Prime Minister'ssloganof "IT + IT = IT", which is Indian talent plus informati on technologyequalsIndia tomorrow and also give a push to the 'Make in India' campaign by encouraging the manufacture of equipment locally. Microsoft, which was part of an international consortium that included BT, Nokia and BBC, conducted the most widespread field trials on white space-based Internet connectivity in Cambridge, US, in 2011. The technology hasn't been widely adopted anywhere in the world, but experts believe it can lead to a spurt in broadband connectivityincountriessuchasIndia.EngineersatMicrosoftdevelopment centers inIndia have adapted this unlicensed technology for this country. The ambitiousDigital Indiaprojectenvisagesproviding broadband connectivity across the country by connecting 250,000 gram panchayats via optic fibre cables, thereby providing digital infrastructure as a utility to every citizen, digital governance and services on demand and digitally empowering all citizens. The plan was approved by the Modi Cabinet on August 30. Copyright © 2014 HT Media All Rights Reserved Click here for index CCI gives nod to Mylan-Abbott merger GenericdrugmakerMylan Inc. andUS-basedAbbottIndustrieshave receivedthe CompetitionCommissionof India's (CCI) nod to proceed with their merger. The fair trade regulator has cleared the application made by New Moon BV, a new companyincorporatedunderthe lawsof the Netherlands,forthe purpose of this merger. New Moon BV had approached the CCI on 12 August. Abbott'sestablishedpharmaceutical products (EPP) segment will merge with Mylan's existing business, which will then vestwithNewMoon. Abbott'sEPPsegmentincludesspecialtypharmaceutical productsandbrandedgenerics.Abbott will have a 21% shareholding in New Moon. New Moon's wholly-owned subsidiary, Moon of PA Inc., has been newly incorporated to help with the merger. This wholly-owned subsidiary will be subsumed under Mylan. Thereafter, the common stock of Mylan will be cancelled. New Moon will issue its stock to Mylan's former shareholders to become the parent company of Mylan. "Formershareholdersof Mylanwill own approximately 78% and Abbott and its affiliates will own approximately 22% of shareholding in the Acquirer (New Moon)," the CCI order states.
  34. 34. The order notedthatNewMoon has claimedthatAbbott's acquisition of 22% in it is only in the nature of an investment. But the CCI said there were still "competition concerns" that would need to be analyzed on a case-by-case basis. Copyright © 2014 Doctor's Guide Publishing Limited. All Rights Reserved. Click here for index Delaware headquartered DuPont introduces technology solution to tackle fake pesticides sale US-basedchemical firm DuPont has come out with technology solutions to tackle illegal and counterfeit pesticides sold under its brand in India. The company hasintroducedtwotechnologies'DuPontIzone'and'DuPontTracelogy'to educate farmersin identifying an original genuine product versus a counterfeit one, a statement said. 'DuPont Izone', a technology that works with web-based verification system, helps in validating the authenticity of the product when a farmer sends an SMS. 'DuPont Traceology', a cloud-based product verification system, helps in tracking productsand providingcritical productinformation such as batch, lot and part number to verify products. "The presence and threatof spurious,fake andillegal cropprotection products is more than ever before. In the garb of crop protection, theythreatenouragricultural growth.We at DuPontare committedto fight this menace," said Ram Mudholkar, Business Director (South Asia), DuPont Crop Protection business. The counterfeit pesticides account for more than 40 per cent of pesticides sold in India. These products infringe trademarksof reputedbrandsandpose great threatto the environmentand can damage crops, leading to severe wealth losses to the farmers, the company added. Copyright © Press Trust of India 2014, All Rights Reserved Click here for index After Google and Microsoft, IBM to woo online start-ups Technology companies such as Google Inc., Microsoft Corp. and Amazon Web Services (AWS) have been wooing the rapidly-growingonline start-up community in India and across the globe for at least the past couple of years by offering free software credits, mentorship, marketing support, investor introductions and even funding. Recently,US-basedInternational BusinessMachine Corp.(IBM) joinedthe bandwagonbyannouncingasimilarprogramme to give start-ups and entrepreneurs around the world up to $1, 20,000 worth of credits to use its cloud-computing technology and take advantage of its global network of enterprise clients, consultants and innovation centers. The IBM Global Entrepreneur Program for Cloud Start-ups will give online start-ups "access to IBM's broad and fast-growing enterprise cloudportfolioandthird-partycloudservicesbuiltaroundopenAPIs(applicationprogramminginterfaces)"that will help them build and monetize their solutions "more easily", Promod Haque, senior managing partner of Norwest Venture Partners (NVP), said in a statement. Entrepreneurs will get access to IBM's cloud infrastructure from SoftLayer, one of its subsidiaries, and its cloud platform called Bluemix for app development. An IBMIndiaspokespersoncitedthe example of aMysore-basedstart-upcalledReinventio that developed Streamify, an online tool developedforuserstohostwebinars,conferencesandbusinesscalls,injusttwodays,usingBluemix.Streamify usesPynetra,agesture-recognitionproductthatallowsuserstomake presentationsbydrawingimagesinthe air, thereby creatinga virtual classroom.AccordingtoKarthikPadmanabhan, country manager, ecosystem development of IBMIndia and southAsia,"With this new announcement of IBM's Global Entrepreneur for Cloud Start-ups, we are hoping startups will ride the next wave of innovations like big data, IoT (internet of things), etc., on cloud platforms." Entrepreneurs, said IBM in its statement, will also be provided technical support and consulting through its network of over 40 innovation centres, new incubator space in New York City's Silicon Alley, and Bluemix Garage in San Francisco's Galvanize start-up hub.
  35. 35. IBM's move to help start-ups comes on the back of similar announcements it made for small- and mid-sized firms. On 15 July, the firm announced an exclusive partnership with Apple Inc. to introduce a new class of business apps. On 30 October, IBM said it plans to offer Twitter data as part of select cloud-based services, including IBM Watson Analytics-a new cognitive service that brings intuitive visualization and predictive capabilities to business users. Google, Microsoft and AWS, though, have a clear lead in the start-up segment. As part of programme called 10,000 Start-ups launched by software lobby Nasscom in March 2013, Google offers up to $20,000 total credit for its Google Cloud platform. Also, based on eligibility, start-ups can use Google Apps free for six months. Microsoft offers Azure Credits, and BizSpark subscribers are eligible to a $150 monthly amount of cloud computing resources through Microsoft developer network subscription benefits free from the Windows Azure Platform. And AWS offers $100-$3,000 in credits, valid for two years, besides $5,000 worth of premium AWS business support for one year bundled with some other freebies. While analystsagree these announcements are good for start-ups, they caution such announcements restrict the use of cloudto the technologysolutionsorplatformsof the companies that offer them. "Moves such as these (the IBMstart-up announcement) offer a lot of potential in building the cloud ecosystem. IBM will face competition from cloud infrastructure firmsbutthere are manyopportunitiesindevelopingapplicationsandservicesforthe cloud platform," said Shree Parthasarathy, senior director, enterprise risk service at consulting firm Deloitte India. He added, though, that "all organizations are trying to push their cloud platforms to start-ups". AlokShende,founderandprincipal analystsof AscentiusConsulting,corroboratedthatIBMwill face competitionfromthe likes of Google and Microsoft "that have a lead in this space, and offer a suite of services to start-ups". Shende andParthasarathyalsopointedoutthat offering credits to start-ups for a limited period, say a year or two years, does not help them. "Pricing is to be taken with a pinch of salt. Value of the credits is not important for start-ups. What mattersisfor howlongsince most start-ups need nurturing for a long time since they need to last for the long-term and do not have the resources to do so," said Shende. "It's importanttounderstandthe periodforwhichstart-upswill be allowedto use the free software or credits, and when licensing will start since sustainability is a major issue for entrepreneurs," Parthasarathy said. Copyright © 2014 HT Media All Rights Reserved Click here for index 'Rs 299 corner': Google gears up for Great Online Shopping Festival Google hasropedin 300 offline andonlineretailersandconsumercompaniesforitsGreatOnline ShoppingFestival that is expected to reach 100 million consumers this year, riding on the frenzy of online shopping in recent weeks. The Great Online ShoppingFestival (GOSF), to be held from December 10-12, is expected to see participation of various consumer durable, FMCG and e-commerce firms in India. The organizerswill alsoruna two-week run-up campaign by reserving each day for a single company to partner in a day- long offers and contests for consumers, said top executives of some ecommerce companies participating in the event. Google and various e-commerce partners plan heavy-duty online advertising while consumer brands will do offline campaignssuchas hoardingandotheroutdooractivities,saidaseniorexecutive of ane-commerce company. "On that day theyare tryingto getmore exclusive launches.Theyare talkingtocompanieslikeSamsung,PhilipsandMotorolatolaunch products during these days," the person said. Nitin Bawankule, director for ecommerce at Google India, declined to comment.
  36. 36. In a seasonof megaonline sales,Google'sthirdeditionof GOSFisexpectedtocreate a biggerhype thanthe last two years as it plans to line up products ranging from FMCG, consumer durables and fashion lifestyle segments to arts and collectibles, travel packages and even two-wheelers, according to sources quoted earlier. This year, the organizers will also introduce digital walls in various cities where consumers can order through the ir smartphones by scanning the QR codes of the products, they said. A top executive of an e-commerce firm said GOSF will also introduce a special segment called "Rs299 corner" where branded products priced between Rs600-1500 will be sold at Rs299. The products will be delivered free of charge and there will be cash-on-delivery option to woo first-time online consumers. The personalsosaidthat in the 14 days betweenNovember27and December9, a lucky winner everyday will get to shop for free among a host of select items. Google startedGOSFin 2012. Last yearit got almost16 millionhitsonall partnersitesdespitetechnical glitchesinthe first day, and almost 40% of the traffic came from Tier 2 and 3 cities. Copyright © 2014, Bennett, Coleman & Co. Ltd. All Rights Reserved. Click here for index
  37. 37. Made-in-India KTM Duke 390, RC 390 heads to America: Launch price starts at $4,999 (Rs 3.08 lakhs) KTM RC 390 KTM has announced that American market will soon (in 2015) get the popular entry level sports bikes Duke 390 and RC 390, recognizing growing potential in the segment there. KTM Duke 390 and RC 390 are built on the same lightweight tubular steel trellis frame, suspended by White Power suspensioncomponents –invertedtubularWPforkonfront and WPmonoshockon the rear swingarm.The duo touch the road with highly acclaimed 10/70Z R17 front and 150/60Z R17 rear Metzeler tyres. Bajaj-KTMChakanplant being the only production base for KTMDuke 390 and RC 390, the models will be exported from India to the U.S. Both are poweredby 373.2 cc single-cylinder liquid-cooled engine that develops 43.5 PS max power @ 9,000 rpm and 35 Nm peaktorque @ 7,000 rpm,makingthe duothe one of the best power-to-weight ratio motorcycles in their respective classes. Both use 6-speed gearbox. KTM Duke 390 and RC 390 will stand beside their bigger siblings Duke 690, Super Duke 1290 and flagship RC8 R in North Americanshowrooms.Inaddition the Austrian motorcycle manufacturer also announced that the latterly unveiled 1290 Super Adventure will also join the lineup in the US next year. KTM Duke 390 will be labelled with Manufacturer’s Suggested Retail Price (MSRP) of $4,999 (Rs. 3.08 lakhs), RC 390 of $5,499 (Rs. 3.39 lakhs) and 1290 Super Adventure of $20,499 (Rs. 12.64 lakhs). Both,KTM Duke 390 andRC 390 are exclusivelymade by KTM’s 47% stake owner, Bajaj Auto at their plant in Pune, India. It is from here, that the entry level KTMbikes are exported around the globe. KTMbikes which are being made in India include – Duke 125, Duke 200, Duke 390, RC 125, RC 200, and RC 390. Copyright© 2009-2014 RUSHLANE. All Rights Reserved Click here for index
  38. 38. 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.
  39. 39. Despite the EcoSport posting high volumes, Ford India is losing money. Its loss swelled more than 40% to ` . 597 crore in fiscal 2014, with accumulated losses totaling. 2,360 crore. Higher exports will likely help ` cut losses this year. "You have to be profitable, that is why you are in business," Harris said. Copyright © 2014, Bennett, Coleman & Co. Ltd. All Rights Reserved. Click here for index Massachusetts based Dunkin's Donuts Introduces Chickpea, Saffron, and Chili to their menu The globalized world may not be flat, but it is round. And also frosted. And also, it must be said, delicious. In 2012, Dunkin'Donuts—thatquintessentiallyAmerican purveyor of that quintessentially American thing, larded sugar- dough—launchedinIndia.The 34 storesthatare now spreadacross the countrysell manyproductsthatwill be familiar to American consumers: coffee, bagels, sandwiches, and, yep, doughnuts. They also sell items that were formulated specificallyforIndianconsumers:veggieburgers,lychee coolattas, and spicy sandwiches. The menu deviates so far from U.S. stores' traditional breakfast-y fare that, in India, the chain brands itself as "Dunkin' Donuts and More." The doughnutsthemselves also come in country-specific flavors. And to celebrate Diwali, the Hindu festival of lights, in India,Dunkin'Donutsjustlaunched several new flavors of the breakfast item-that-is-actually-a-dessert. Among them: a Kesar Badam (saffron-inflected almond milk) doughnut, topped with saffron cream, blanched almonds, and crushed pistachios;amilkcake doughnutfilledwithrice pudding;aSoanPapdi (flakypastry) doughnutcoated with chickpea flour; and a white chocolate doughnut topped with guava and chili. Pedro D’Mello, head of the food division for Dunkin’ Donuts India, told The Wall Street Journal that it took him and his teamthree monthsto formulate the new doughnuts. (He also considered other flavors, including cardamom and beetle nut extract.) The ones that have made their way into the stores of "Dunkin Donuts and More" are sweet little encapsulationsof the globalizedworld:anAmericanproductwith a distinctly Indian flavor. As the Dunkin' Donuts patron Ravi Sharma toldthe Journal of the Diwali doughnuts: "I think it’s a great idea. Who had ever thought that one day high- end doughnut stores would draw inspiration from Indian streets?" Copyright © 2014 by The Atlantic Monthly Group. All Rights Reserved Click here for index Oregon based Columbia Sportswear to open 25 stores in India by April 2015 Outdoorand adventure wearretailerColumbiaSportswear Company will open 25 stores by April 2015 in India against an earlier plan of opening up to 5 stores, as the demand for products has exceeded its expectations. ColumbiaSportswearCompany,whichenteredIndiathroughadistributiontie-upwithChogori IndiaRetailLtd,opened its first store on December 24, 2013, and at present has three stores in the country.
  40. 40. "Earlier, we had planned to open 3-5 stores in the first year and depending on the off-take, we would plan further expansion.But,that3-5 store planhas changedto 25 storesplan.We will have 25 stores by April 15. We will expand very fast in India," Chogori India Retail Ltd Vice President Khyati Bhinde told media. Bhinde did not share investment that the company would make to expand Columbia Sportswear brand in India. Elaborating on the expansion strategy, she said the company plans to open up to 120 point of sales, exclusive store and shop-in-shop store in three years in India. It will open shop-in-shop stores by October next year in select multi-brand departmental stores like Shoppers Stop. Talkingaboutthe demandforColumbia'sproducts,Bhinde said:"Whenwe were bringing the brand, we thought outdoor (activities) doesn't exist much in India, people might not know Columbia. But after opening our first store, we came to know that people understand outdoor and also know the brand. We have received very good response for the brand." At present,90 percent of productsare importedandthe restare manufacturedinIndia.However,Bhinde said that might change in future."If share of lifestyle productsintotal salesgrows,the companymightlookatmore local manufacturing," she added. Columbia Sportswear, which sells outdoor apparel, footwear and accessories in India, also plans to introduce high - performance outdoor gears in the country. Copyright © 2014, Bennett, Coleman & Co. Ltd. All Rights Reserved. Click here for index Oracle Signs MoU with ICT Academy of Kerala to help students develop IT skills ICT Academy of Kerala (ICTAK) and Oracle have signed a Memorandum of Understanding (MoU) to implement Oracle Academy's computer science programs across 60 institutes in the state of Kerala over the next two years. As part of this initiative, Oracle Academy software curriculum, hosted technology, training, support and certification resources are expected to be made available to students and faculty. Additionally, 120 faculty members are scheduled to undergo training to help put 6000 students on the pathway to future IT careers. Oracle and ICT Academy of Kerala (ICTAK) have signed a Memorandum of Understanding (MoU) to integrate Oracle Academy curriculum into the educational programs of the state's colleges to inspire the next generation of technology professionalsandhelp prepare them for careers in IT. Under the MoU, Oracle intends to facilitate the delivery of Oracle Academy curriculum to 120 faculty members over the next two years - with these teachers set to reach as many as 6000 students from 60 institutes from Kerala state. Oracle will facilitatea'train-the-trainer'course toramp up facultyrepresentatives as instructors for six courses, including CreatingJavaProgramswithGreenfoot,JavaFundamentals,JavaProgramming,Database Design, Database Programming withSQL, and Programming with PL/SQL. Once trained and certified, this faculty is expected to use the Oracle Academy infrastructure to train other faculty members. Today, more than 2.2 million students in 96 countries benefit from Oracle Academy. In India, Oracle Academy programs supports more than 240,000 students at more than 1300 educational institutions. "Oracle Academyhasbeendedicatedinourmissiontoextendthe reachof computerscience educationtostudentsacross the world,includinginIndia,"saidKrishnaSistla, Senior Director, Oracle Academy, Oracle Asia Pacific and Japan. "Access to good computer science education is a defining 21st century social issue, and with the help of Oracle Academy's programs,studentsof Keralacan enhance theirknowledgeand build relevant industry expertise for job opportunities in the field of Information Technology and other industries that benefits from IT." "The core objective of ICTAcademyof Kerala is to improve employability skills amongst students," said Santhosh Kurup, CEO, ICT Academy of Kerala. "Our aim is to prepare students of higher education to face the competitive world by equipping them with high quality course content and skilled teachers. We are excited to work with Oracle in delivering
  41. 41. Oracle Academycurriculumto our students and teachers, and believe this educational foundation will help prepare our students for today's workforce." Copyright © 2014, Bennett, Coleman & Co. Ltd. All Rights Reserved. Click here for index Global hotel chains eye secondary, tertiary markets in India As international hotelchainslooktoincrease their presence in India, they are going beyond the metros and tapping into booming secondary and tertiary markets. Six monthsago,Marriott International Inc.openeditsentrylevelfive-starhotel CourtyardatBilaspurinChhattisgarh-acity witha population of just over 300,000 residents. Expected business from mining and power companies operating in the mineral and coal-rich state was the reason Marriott went to Bilaspur. Now, the group is looking at other such markets and says that it expects 25-30% of its portfolio to be in secondary and tertiarymarketsinthe nextthree tofive years.Placeswhere Marriott is expanding include Guwahati, Shillong and Katra. "Some of these secondaryandtertiarymarketsrepresentgreatopportunitybecausesome of these marketshave pent-up demand for international branded hotels; demand not just for rooms, but also in F&B (food and beverages), especially banqueting," said Rajeev Menon, area vice-president, South Asia, Marriott International. Menon adds that the group has a reasonably strong presence in gateway cities, and would now like to expand the portfolioacrosssecondaryand tertiarymarkets,"because thatisgrowingevenfasterandthatiswhere the natural growth is". Accordingto a reportreleasedbyHVS,a hospitalityconsultingfirm, demandforbranded/organizedhotel rooms has risen at a compoundedannual rate of 17.6% inthe lastfive years.Expertssaythatprimarymarkets like the metros are growing in single digits, while secondary and tertiary markets are seeing double-digit growth. "Industrial clusterssuchasNeemrana,Vizag,Vijayawada,Baddi,Pantnagar,Manesar,Dahej,Asansol, Tirupur, Rajkot, etc. are emergingasattractive destinationsforhotel companies,"saidChandni Sahgal,director,D'Essence HospitalityAdvisory Services Pvt. Ltd, a hospitality consulting firm. As such, firms are looking to get the first-mover advantage by expanding into these markets, she said. "Also, property developersinthese marketsare aggressivelyseekingtotie upwith international brands; it is a matter of pride for them," added Sahgal. The Wyndham Hotel Group was an early mover in Neemrana, in Rajasthan, where it opened its Days Inn midscale hotel three yearsago. The high demand prompted the company to open a Ramada hotel there last year. It also has a Days Inn hotel at Panipat in Haryana. Deepika Arora, regional vice-president, Indian Ocean, EMEAI, for Wyndham, says expanding to secondary and tertiary markets makes perfect business sense. "We have a portfolio of brands that fits well in these markets to cater to the economyandmidscale segments,"saidArora,addingthatthese marketsare buzzingwithalotof industrial growth, which leadstoa lotof corporate and banquetingopportunities. Explaining the attractiveness of a market like Neemrana, Arora saysthe regionhasa special industrial zone dedicated to Japanese companies and another one is in the works. "...being international companies, they look for international hotel brands," says Arora. Almost65% of Wyndham'supcomingpropertiesare inthe secondaryand tertiary markets, she added. Some of the other citieswhere Wyndham'sbrands are present or are under development include Jalandhar, Jamshedpur and Dharmapuri. Whitbread Hotels and Restaurants International, which runs hotels under the Premier Inn brand is also eyeing these markets.The company,whichwill have sevenactive properties in India by 2017, is now also looking to penetrate deeper intothe Indianmarketand isactivelyengagedintalksto open properties in secondary and tertiary markets, according to David Vely, senior vice-president, development, Middle East, Africa and South Asia, Whitbread. While these markets are attractive, they have their own set of challenges as well.
  42. 42. "Findingthe right partner is a big challenge," said Sahgal. Also, availability of good quality supplies and connectivity are majorissues,she said,addingfindingskilledmanpowerisyetanotherchallenge."Career-orientedprofessionals might not wantto work ina tertiarymarketproperty." Butotherssay the risk for global companies using the management contract model, where they do not invest in the property but sign a contract to manage it, is relatively low. "Managementcompaniesdon'thave anythingtolose.Itisthe private entrepreneurwho bears the risk of investing in the property and they want these international brand names to go with them so that they can raise loans easily," said Narendra Verma, principal consultant, Hospitality Consultants India Pvt. Ltd. Vermasaidthese places will grow, but it will not happen quickly; the hotel companies know this, but unfortunately the property owners might panic as they look for a quick turnaround, he added. Copyright © 2014 HT Media All Rights Reserved Click here for index
  43. 43. In the News: 'Infra sector to be main focus area for Indo-US commerce ties' Mr. Arun M Kumar, Director General of the U.S. and Foreign Commercial Service and Assistant Secretary for Global Markets, U.S. Department of Commerce, International Trade Administration A lot of "good ground work" has been covered, post Obama-Modi meet in the US, and now is the execution time, with infrastructure going to be the focus of the Indo-US commerce ties, a top official has said. "In the joint statement, one of the big focus areas is infrastructure sector," Arun M Kumar, Assistant Secretary of Commerce and Director General of the US and Foreign Commercial Service in the US Commerce Department's International Trade Administration,said.He was referring to the India-US joint statement issued after the September 30 meeting between Prime Minister Narendra Modi and US President Barack Obama. There isan "enthusiastic"response from the US companies, he noted. Appreciative of the steps being taken by the new Indian government in "improving" the business climate in the country, he said, there were a lot of areas where improvement are required. Land acquisition is one of them, he said. "We have seen determination (by the new government) to move forward. We definitely want to build the momentum of our interaction with the new Indian Governmentinthe lastfew months," he said. The September visit of Modi to the US and his meeting with Obama at the White House, he said, was very successful. "We are ready to engage," Kumar said. "We are very excited about the infrastructure collaboration,"he added. "I think, we have covered a lot of good ground work. Now it is execution time," he said. Americancompanieshave alotof good technologiesandpracticestoofferinthe infrastructure sector, said Kumar who is nowheadedforhisthirdtrip to India,the lastone wasalongwith the New Delhi visit of the Secretary of State John Kerry and the Commerce Secretary, Penny Pritzker. He was one of the first few top US officials to visited India after the formation of the Modi Government. The Commerce Departmentis expected to play a key role in Indo-US ties now that Modi-Obama meeting agreed to take their bilateral business and trade ties to USD 500 billion from the current USD 100 billion. "It isdoable andachievable.We have justscratchedthe surface of our bilateral trade potential," he said in response to a question, adding that this needs a lot of action, simplification of various areas of investment, improvement in ease of doing business. Copyright © 2014 Business Standard Ltd. All rights reserved. Click here for index
  44. 44. U.S. President Barack Obama to be chief guest at Republic Day celebrations U.S. President Barack Obama will attend India's Republic Day celebrations in January as chief guest, a sign of steadily expanding ties between two countries that share concerns about China's growing power in Asia. Obama was invited by Prime MinisterNarendraModi andwill be the first U.S. president to attend a Republic Day celebration, the White House saidon Friday.DiplomatssaidObama,whovisitedIndiain2010, wouldalso be the first U.S. president to visit the country twice while in office. India'srelationswithWashingtonhave flourishedin the past decade, although they have also had tussles over trade and other issues. The two countries are developing a strategic partnership prompted by shared concerns about China's increasingly assertive territorial claims in the Asia-Pacific region. Modi met Obama on a visit to the United States in Septemberandtheyhave spokenbytelephone since. Their relationship is thought to have helped resolve a major trade spat in the World Trade Organization. Modi used a Twitter message to announce Obama as the chief guest on Republic Day, which marks the enactment of India'sconstitutiononJan.26, 1950. Dhruva Jaishankar,aSouthAsiaspecialistatthe GermanMarshall Fund of the United States, said the invitation to Obama was a sign of "a radically altering political calculus" in New Delhi, where previous leaders traditionally sought to keep some distance from Washington. "This visit will also mark a real turnaround over eight or nine months ago, when questions were still being asked about Modi’swillingness to cooperate with the United States, given his history of having been denied a visa," Jaishankar said. Modi wasdeniedentryintothe UnitedStates from 2005 until he was elected prime minister in May, after allegations he did too little to stop religious riots that killed at least 1,000 people, mostly Muslims, in his home state of Gujarat. Modi denied any wrongdoing. Indiatraditionallyinvitesaheadof state to participate aschief guestforRepublic Day celebrations, which culminates in a militaryparade includingits nuclearcapable missiles.Muchof the hardware dates back to the Soviet era, when India had close ties with Moscow, while more recent defense purchases include billions of dollars of U.S.-made equipment. Last year's chief guestwasJapanese Prime Minister ShinzoAbe, who has taken a tough line with China over its territorial claims. Copyright © 2014 Thomson Reuters. All rights reserved Chuck Hagel understood India's value, opened US military for Sikhs File photo: Defense Secretary Chuck Hagel speaks during a news conference at the Pentagon Defense Secretary Chuck Hagel, who quit amid differences with President Barack Obama, understood the strategic importance of India and opened up the US military a little bit more for the Sikhs. Hagel, 68, who has been asked by President Obama to remain in office till Senate confirms his replacement, is likely to talk to his new Indian Defence Minister Manohar Parikar.
  45. 45. Duringhis21 monthsin office,Hagel openedupthe US militaryforthe Sikhs,alongpendingdemandof Indian- Americans that Sikhsbe allowedinthe force withtheirreligioussymbolsintact.Inanorder issuedthisyear,he permittedSikhstoj oin armed services on a case by case basis, with their religious symbols intact as long as they do not interfere in their work. Sikh leaders have termed it as a step in the right direction. The Pentagon, in a fact sheet, listed "Deepening the Strategic Relationship with India" as Hagel's key achievement. "Understanding the importance of a rising and democratic India to the future security and prosperity of Asia and South Asia, encouraged deeper strategic and defense cooperation, including through the Defense Trade and Technology Initiative and expanded mil-mil cooperation," the fact sheet said. Accordingto Hagel'saides,he understoodthe significance of Indiaandthe US-Indiamilitary-to-militaryrelationship in the emergingnewgeo-political landscapeinthe AsiaPacificregion.Thiswasone of the reasonswhyhe visitedIndiainthe first 100 days of the new Indian Government and set pace of strengthened military and defense ties with India. Hagel also met Prime Minister Narendra Modi when the latter met Obama at the White House in September. While he might have been on the same page with India's former Defense Minister A K Antony, Hagel appeared to be quite comfortable and enthusiastic working with the Modi Government. He was quick to appoint Frank Kendall as the Pentagon's point person for the India-US Defense Technology and Trade Initiative andbroke protocolsbypersonallyattendingthe Defense Policy Group meeting that took place here last month. However,whenHagel wasnominatedthe USDefense Secretary,avideosurfacedinwhich he was seen making anti -India remarks and one in favor of Pakistan. But towards the end of his tenure, he did not meet Pakistan Army Chief General Raheel Sharif during his trip to the US this month, even though the latter extended his trip for a few days, in hope of meeting with him. As America's 24th Defense Secretary, he is the first Defense Secretary in nearly two decades to be confronted with the realityof shrinkingbudgetsanda growingdemandforUS militarysupportaroundthe world.Hagel issaidtohave resigned amidreportsof differenceswithObamawhoisapparently seekingtoinstall anew leadershipatthe Pentagonashe enters the last two years of his presidency facing new global challenges like the rise of IS. Photo credit: NBCNews.com Copyright © Press Trust of India 2014, All Rights Reserved Click here for index India and United States Joint Statement on the Trade Policy Forum India and the US, in a meeting co-chaired by trade minister Nirmala Sitharaman (right) and US Trade Representative Michael Froman, laid out a one-year work programme to improve trade ties. Photo: PTI Minister of Commerce and Industry of India Smt. Nirmala Sitharaman and U.S. Trade Representative Ambassador Mr. Michael Froman met in New Delhi on November 25, 2014 for the eighth ministerial-level meeting of the India-United
  46. 46. 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

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