AmCham Update · 2016-11-04 · On the eve of AmCham’s National Executive Board meeting, the...

November 2016 | Vol V | Issue 3AmCham - The Voice of American Business in India

• CleanEnergyInvestmentRoundtablewithU.S.DeputySecretary,Energy,Dr.ElizabethSherwood-Randall

• 4thAmChamHealthcareConference

• InteractiveBreakfastSessionwithMr.DebashisSen,IAS,PrincipalSecretaryUrbanDevelopment,GoWBandChairmanWBHIDCOLtdonthe“ConceptofGreenCitiesandtheirEconomicImpactinWestBengal"

• InteractiveSessionwithMinisterCounselorforCommercialAffairs,U.S.Embassy,Mr.PatrickSantillo

• CSRinIndia:WorkingTowardFulfillingtheSustainableDevelopmentGoalsinIndia–MovingtheAgendafromtheGlobaltoNationalandLocalLevel

• BreakfastMeeting:SmartInfrastructure–"PromiseandPitfallsofState-LedEconomicReform

HIGHLIGHTS

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Contents09

DebriefingSessionwithU.S.AmbassadorandJointSecretary,MEA

11FarewellReceptionforMr.JohnMcCaslin,MinisterCounselorforCommercialAffairs,U.S.EmbassyandWelcometoPatrickSantillo

20Technology&InnovationinSupplyChain–PlantVisittotheCocaColaPlantinWada

24InteractiveSessionwithMinisterCounselorforCommercialAffairs,U.S.Embassy,Mr.PatrickSantillo

25“TransferPricingRoadAhead”byMr.AshwinVishwanathan,Partner,TransferPricing&InternationalTax,Ernst&YoungLLP

274thAmChamHealthcareConference

35BreakfastMeeting–SmartBusinessInfrastructure–Mergers,Acquisitions,Valuations&OtherBusinessServices

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Issue 3November 2016

Office Bearers

Chairman

Mr. Pratyush Kumar

President

Boeing India

Vice Chairmen

Mr. Richard Rekhy

Chief Executive Officer

KPMG in India

Mr. Gulshan Kumar Sachdev

Managing Director

Quaker Chemical India Limited

Hon. Secretary & Treasurer

Mr. Atul Dhawan

Regional Managing Partner

Deloitte Touche Tohmatsu India LLP

Board Members

Ms. Rekha M. Menon

Chairman

Accenture India

Mr. Varun Khanna

Managing Director

Becton Dickinson India Pvt. Ltd.

Mr. Venkatesh Kini

President & CEO – India and South West Asia

Coca-Cola India Pvt. Ltd.

Mr. Arun Kumar Jain

Managing Director

Fluor Daniel India Pvt. Ltd.

Mr. Kaher Kazem

President and Managing Director

General Motors India Pvt. Ltd.

Mr. Nick Mitchell

Managing Director

Phenomenex India Pvt. Ltd.

Mr. Krish Iyer

President and CEO

Wal-Mart India Pvt. Ltd.

Dr. Kiranmai Pendyala

CVP HR Greater Asia

AMD R&D Center India Pvt. Ltd.

Mr. Madan Mohan Rao Yalamanchili

Executive Chairman

S&P Capital IQ (India) Pvt. Ltd.

NATIONAL EXECUTIVE BOARD 2016-17

Iamhappy to report thatU.S.– India relationsreachedahigher trajectory inthe past fewmonths with a number of activities and positive developmentsstrengtheningU.S.–Indiarelations.

AmChamorganizedadebriefingsessionpost theU.S. – IndiaStrategicandCommercialDialoguewithU.S.AmbassadorRichardVermaandJointSecretary,MEA,Mr.MunuMahawar.During theU.S. – IndiaStrategic andCommercialDialogue,anumberofissueswerediscussedincluding,healthcare,agriculture,aerospace,defense,taxes,energy,smartcitiesandtheenvironment.

TheHon’bleDeborahLeeJames,Secretary,U.S.AirForcemetwiththeDefenseCommitteeandmentionedthattheU.S.AirForcewasoptimisticaboutthefutureof co-developing and co-producing defense systems with India and excitedabouttheirpartoftheDefenseTechnologyTradeInitiative(DTTI).WealsometwithPrincipalDeputyAssistantSecretary forPolitical-MilitaryAffairs,Ms.TinaKaidanowtodiscusstherevisedIndianDefenseProcurementPolicy(DPP).

AmCham’sInfrastructureandSmartCitiesCommitteeheldaninteractivesessionwithUSTDACountryRepresentative,Ms.MehnazAnsari.Shegaveupdatesonoutreaches to thecitiesofVizag,AjmerandAllahabadandbriefedmemberson thesecondphaseofsmartcityexpansionprograms.Memberswerealsoinvited to meet Mr. Chandramauli Shukla, CEO, Bhopal Smart City Limitedand theirStrategicAdviser,Mr.AnimeshParihar, todiscussandevaluate theprogressofBhopalsmartcitymasterplan.Duringtheopeninteraction,manysuggestionswereexchangedon theupcomingprojectsunder varioussmartcity heads such as the ICT initiatives, retro and redevelopment projects (forwhichgovernmentacquiredlandwasavailable),waterandwastemanagement,privatesectorpartnerships,procurement,currentandupcomingRFPsandtheconceptmasterplanmodels.

Ambassador Haverkamp, Special Representative for Environment andWaterResources,U.S.DepartmentofState,metwithAmCham’sAviationCommitteeto discuss a globalmarket-basedmeasure to address CO2 emissions frominternationalaviationthatwasrecentlyadoptedbytheInternationalCivilAviationOrganizationAssembly (ICAO).AmbassadorHaverkampalsomentioned thatthereisstrongsupportfromIATAforthismeasure.

MembersalsointeractedwiththeU.S.DeputySecretaryforEnergy,Dr.ElizabethSherwood-Randall,whowaspartoftheU.S.delegationledbyU.S.SecretaryofState,Mr.JohnKerry,visitingIndiaforthesecondU.S.–IndiaStrategicandCommercialDialogue.TheroundtablediscussionincludedtheworktakingplaceattheU.S.DepartmentofEnergyonmissioninnovation,aswellasactivitiesattheDoEnationallaboratories,cross–borderpublicprivatepartnershipmodelsforinnovationandinvestmentincleanenergytechnologies.

Chairman’s Message

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NATIONAL EXECUTIVE BOARD 2016-17

Ms.AngelaSimpson,DeputyAssistantSecretary,NationalTelecommunicationsandInformationAdministration,U.S.DepartmentofCommerce,metthemembersoftheICTCommittee.Theybriefedheronthemainissues/developmentsinthetelecomandITsectors.

The Medical Devices Committee led a delegation to Colombo, Sri Lanka.The purpose of this delegationwas to explore business opportunities in thehealthcare sector in Sri Lanka, with a special focus on themedical devicessector,aswellaspromotingU.S.–SriLankatradeinhealthcare.

AmCham’s new Agriculture and Food Processing Committee held its firstmeeting.SincetheMinistryofAgriculture’smainareasoffocusarepre-harvestandpost-harvestproduction,foodprocessing,reachingouttoconsumers,andagricultureandfoodinfrastructure,thecommitteedecidedtoalignitsagendaalongtheselines.

AmChamwashonoredtohostafarewellreceptionforMr.JohnMcCaslin,MinisterCounselorforCommercialAffairs,U.S.Embassy,agoodfriendandsupporterofAmCham.Onthisoccasion,AmbassadorRichardVermaspokeaboutthegreatworkdonebyJohnduringhistenure.WealsohadtheopportunitytowelcomehissuccessorMr.PatrickSantillo.

In the Eastern Region, Mr. Debashis Sen, IAS, Principal Secretary UrbanDevelopment, GOWB and Chairman WBHIDCO Ltd. had given a detailedexplanationonwhytheWestBengalGovernmentdecidedtodevelopitsown‘GreenCityProject.’Theconceptofagreencityisanewoneglobally.Likethesmartcity,thefocuswasonthecreationofsufficienteco–space,asustainablewaterreservoirsystemandmoderntransportwithlowemission.

On the eve of AmCham’s National Executive Board meeting, the BoardmembersmetMr.K.T.RamaRao,Minister for IT,Municipal Administration&UrbanDevelopment,Industries&Commerce,PublicEnterprises,Sugar,Mines&Geology,NRIAffairs,GovernmentofTelanganaandhisteamforaninteractivesessioninHyderabad.HeexplainedthereformsintroducedbytheGovernmentofTelanganatoattractforeigndirectinvestmentandfor‘easeofdoingbusiness.’HealsospokeabouthisvisittotheU.S.andtheinterestAmericancompanieshadshowedforinvestinginTelangana.

TheHyderabadChapter alsoorganized the 4thAnnualAmChamHealthcareConference with the theme ‘Harmonization of Indian Healthcare Within theGlobalEcosystem.’TheoverallobjectiveoftheconferencewastobeacatalystforchangeintheIndianhealthcareecosystem.

InpartnershipwiththeU.S.ConsulateGeneral,Mumbai,theAmChamWesternRegion organized ‘CSR in India: Working Toward Fulfilling the Sustainable Development Goals in India – Moving the Agenda from the Global to National and Local Level’.Thekeynotespeakerattheevent,Mr.PraveenPardeshi,PrincipalSecretarytotheHon’bleChiefMinisterofMaharashtra,sharedinsightsintotheprioritiesandprojectsoftheGovernmentofMaharashtrathroughhispresentationonvillagesocialtransformationmission-empoweringruralMaharashtra.

AmChamishappytoannounceitsSilverJubileecommemorating25yearsofU.S.-IndiaBusinessPartnership.Iwouldliketothankallofyouforyoursupportduring this journeywhich began in 1992.We greatly value and cherish yourmembershipwithAmChamandhopeyouwillcontinuetoactivelyparticipateinAmChamactivities.

Mr. Pratyush KumarChairman, AmCham

Dr. Pradip K. Dutta

Corporate Vice President & Managing Director

Synopsys (India) Pvt. Ltd.

Mr. Iqbal Sait

Head of Asia Operations

Saggezza India Pvt. Ltd

Mr. K. P. Sengupta

Chairman

Data Core (India) Pvt. Ltd.

Mr. Rustom J. Desai

Managing Director

Corning India and Telecom Operations

Mr. Ramkumar Ramamoorthy

Senior Vice President, Marketing, Corporate Affairs and Communications

Cognizant Technology Solutions

Mr. A. Viswanathan

Dy. Managing Director

BS&B Safety Systems India Limited

Mr. Sukanti Ghosh

Managing Director, India

APCO Worldwide India Pvt. Ltd.

Ms. Kaku Nakhate

President & Country Head (India)

Bank of America N.A.

Immediate Past Chairperson

Ms. Vanitha Narayanan

Managing Director

IBM India Pvt. Ltd.

Honorary Members

Mr. Patrick Santillo

Minister Counselor for Commercial Affairs

U.S. Embassy

Mr. George N. Sibley

Minister Counselor for Economic Affairs and Environment, Science and Technology

U.S. Embassy

Special Invitee

Mr. C. R. Dua

Managing Partner

Dua Associates

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DELHI

AmCham Defense Committee members met with theHon’bleDeborahLeeJames,Secretary,U.S.AirForce,on26thAugust inNewDelhi.TheSecretarymentionedthattheU.S.AirForcewasoptimisticabout the futureofco-developingandco-producingdefencesystemswithIndiaand excited about their part of theDefence TechnologyTrade Initiative (DTTI).The interactionwasvery timelyas

Meeting with U.S. Secretary of Air Force, Ms. Deborah Lee James

shemetwiththeSecretaryoftheDepartmentofDefenceProduction, Ministry of Defence, Government of India,Mr. Ashok KumarGupta, immediately after thismeetingand mentioned she would carry information from theinteraction.ShewasaccompaniedbyHeidiGrant,DeputyUnderSecretaryoftheU.S.AirForce,InternationalAffairs.

Meeting with Mr. Deepak Bagla, Managing Director & CEO, Invest India

On 26th August 2016, Mr. Pratyush Kumar, Chairman,AmChamandPresident, Boeing India andMs.MadhviKataria, Deputy Executive Director, AmCham,met withMr. Deepak Bagla, Managing Director & CEO, InvestIndia, inhisoffice, todiscusshowAmChamand Invest

India could work together to resolve issues faced byAmericancompaniesdoingbusinessinIndiaaswellastojointlyorganizeprogramsto increasebusinessrelationsbetweenthetwocountries.

Clean Energy Investment Roundtable with U.S. Deputy Secretary, Energy, Dr. Elizabeth Sherwood-Randall

On 29th August 2016, AmCham organized a cleanenergyinvestmentroundtablewithU.S.DeputySecretary,Energy, Dr. Elizabeth Sherwood-Randall, who was partoftheU.S.delegationledbySecretaryofState,Mr.JohnKerry,visiting India for thesecondU.S.– IndiaStrategicand Commercial Dialogue. The roundtable discussiontopics included mission innovation, which relates towork takingplaceat theU.S.DepartmentofEnergyonmissioninnovation,aswellasactivitiesattheDoEnationallaboratories, cross-border public private partnership

models for innovation and investment in clean energytechnologies. Lessons learned from successes andchallenges facedby innovators and investorson cross-border opportunities to improve outcomes from futureengagementsby incorporating theextensiveexperienceof innovatorsandinvestorsengagedinU.S.–Indiajointclean energy projects, were also shared. ParticipantsincludedanumberofleadingIndianandU.S.companiesaswellasrepresentativesfromPSUsandstartups.

LtoR:Mr.KuljitSinghPopli,Chairman&ManagingDirector,IndianRenewableEnergyDevelopmentAgencyLtd.,Dr.SanjivMalhotra,DirectorCleanEnergy investmentCentre,DoE,Dr.Sherwood-Randall,DeputySecretary,AmbassadorRichardVerma,Mr.StevenGimri,ManagingDirector,UOP-Honeywell

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Delegation of Medical Devices Committee to Colombo, Sri Lanka

During29 - 30thAugust 2016,Mr. PrabalChakraborty,Chairman, AmCham Medical Devices Committee andVP and Managing Director, Boston Scientific, led adelegationfromAmCham’sMedicalDevicesCommitteetoColombo,SriLanka. Thepurposeof thisdelegationwas toexplorebusinessopportunities in thehealthcaresector inSriLanka,withaspecialfocusonthemedicaldevices sector, as well as promoting U.S. – Sri Lankatradeinhealthcare.

The delegation met with officials from the Ministry ofHealth, Nutrition and Indigenous Medicine, includingmeetingwithMr.CassimFaizal,DeputyMinister,MinistryofHealth,NutritionandIndigenousMedicine,Mr.AnuraJayawickrema, Secretary, Ministry of Health, Nutrition

and Indigenous Medicine, Dr. Palitha GunarathnaMahipala, DirectorGeneral Health Services,Ministry ofHealth, Nutrition and Indigenous Medicine, Prof. AsitaDeSilva,Chairman,NMRA,andDr.KamalJayasinghe,CEO,NMRA.ThegroupalsometwithofficialsfromtheU.S.EmbassyinColombooverabriefingsessionon29thAugustattheAmChamSriLankaoffice.

The 12-member delegation comprised of participantsfrommembersofAmCham’sMedicalDevicesCommitteewhichincludedBostonScientific,Abbott,GE,Medtronic,CR Bard and St. Jude Medical. From the AmChamsecretariat, Mr. Gaurav Mendiratta accompanied thedelegation.

Mr.CassimFaizal,DeputyMinister,MinistryofHealth,NutritionandIndigenousMedicine,withthemembersoftheAmChamdelegation

InteractionwithparticipantsattheCleanEnergyInvestmentRoundtablewithU.S.DeputySecretary,Energy,Dr.ElizabethSherwood-Randall

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Aviation Committee Meeting with U.S. Special Representative for Environment and Water Resources, Ambassador Jennifer A. Haverkamp

AmCham’s Aviation Committee members met withAmbassador Haverkamp, Special Representative forEnvironmentandWaterResources,U.S.DepartmentofState,on1stSeptemberinNewDelhi,todiscussaglobalmarket-basedmeasure(MBM)toaddressCO2emissionsfrom international aviation recently adopted by theInternationalCivilAviationOrganizationAssembly(ICAO).Ambassador Haverkamp mentioned there was strongsupportfromIATAforthisMBM.Thephasesofthe15-year

program,scheduledtostartin2021,wereexplained.Thefirst6yearsof theprogramarevoluntarybuteventuallyall ICAO members would be required to participate.Ambassador Haverkamp addressed questions andcomments frommembers and exploredways that theGOI can promote greater sustainability in civil aviation.Companies that participated in the interaction includedAPCO,Boeing,GE,HarrisandHoneywell.

Meeting with Principal Deputy Assistant Secretary for Political - Military Affairs, Ms. Tina Kaidanow

ThePrincipalDeputyAssistantSecretary forPolitical -MilitaryAffairs, TinaKaidanow,metwith keyAmChamdefense industry leaderson31stAugust inNewDelhi.Members discussed the revised Indian DefenseProcurement Policy (DPP), issues on offsets and

Mr.CassimFaizal,DeputyMinister,MinistryofHealth,Nutritionand IndigenousMedicine, inconversationwith themembersof theAmChamdelegation

FDI policy, licensing issues and the challengesworking in India. The PDAS was also informed of therecommendations that AmCham recentlymade to theministryondefenseaspects,includingtheDPP.

AmbassadorJenniferA.HaverkampwithAmChamAviationCommitteemembers

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Debriefing Session with U.S. Ambassador and Joint Secretary, MEA

On6thSeptember2016,AmChamorganizedadebriefingsessionposttheU.S.–IndiaStrategicandCommercialDialogue with U.S. Ambassador Richard Verma andJointSecretary,MEA,Mr.MunuMahawar,atACSA,U.S.Embassy,NewDelhi.

Mr.PratyushKumar,Chairman,AmCham,inhiswelcomeaddress, said that the last few months witnessed anumber of positive developments on the U.S. – Indiaeconomic frontstrengtheningU.S.– Indiastrategicandcommercialrelations.

Ambassador Richard Verma said that in the last fewweeks there have been intense engagements betweenIndia and the U.S. and there is strong momentum inthe relationship. Mr. Modi after becoming the PrimeMinisterhadeightmeetingswithPresidentObama.Thetwo-way tradehas increased to$109billion.During theU.S.– IndiaStrategicandCommercialDialogue, issuessuch as reforms, taxes, economic environment, energy

andmanymorewerediscussed.U.S.waskeentosignabilateralinvestmenttreatywithIndia.

Mr. Munu Mahawar, in his remarks, said that everymonthanewsubjectwasbeingincludedfordiscussionbetweenthetwogovernments.Cleanenergywasaddedlastmonth.Therewasongoingdiscussioninthedefensesector. Both the countries were now discussing co-production. For cyber security, a framework has beenprepared.He agreed that there remained a few issueswhereprogresswasrequired.Asfarasbilateraltradewasconcerned,itwasmuchbelowthepotential.Onceeaseofdoingbusinesshappens,tradewouldalsoimprove.

This was followed by an interaction from the floor bymembers.Members raised issues regardingeducation,health,digital India,solarpower,cleanenergy,defense,cyber security, high technology transfer in the defensesector,procurementprocess,offsets,etc.

DebriefingbyU.S.AmbassadorRichardVermaandMr.MunuMahawar, JointSecretary,MEApost theU.S.– IndiaStrategicandCommercialDialogue

Agriculture and Food Processing Committee Meeting

infrastructure, the committee should align its agendaalongtheselines.Thecommitteedecidedthattheyhadto also focus on brand improvement, policy advocacyissues and state-level engagements. The committeemeetingtookplaceunder thechairmanshipofMr.RamMudholkar,President,E.I.DuPontIndiaPvt.Ltd.andCo-Chairman,SirajChaudhary,Chairman,CargillIndiaPvt.Ltd.

The first meeting of AmCham’s Agriculture and FoodProcessing Committee was held at the office of E.I.DuPont, inGurgaon,on8thSeptember.Thecommitteedecided that since the main areas of focus in theagriculture and food processing sector include pre-harvest production/agriculture, post-harvest area,foodprocessing, reachingout to consumers, and food

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L toR:Mr.PratyushKumar,Chairman,AmChamandPresidentofBoeing India,Mr.SanjeevGupta,Chairman -EconomicAffairsCommittee, AmCham and Country General Manager – Public Sector, Microsoft Corporation India, Ms. Madhvi Kataria, DeputyExecutiveDirector,AmCham,Mr.SamitRay,Director-GovernmentAffairs&PublicPolicy,UnitedTechnologiesCorporation

Breakfast Roundtable with the U.S. Ambassador to Nepal, Alaina Teplitz

AmCham met with Ambassador Alaina Teplitz, U.S.AmbassadortoNepal,on8thSeptemberinNewDelhi.Ambassador Teplitz was accompanied by AndreaGoodman, Chief of Political and Economic Affairs,U.S Embassy, Kathmandu. The Ambassador gavean overview of the political and economic challengesin Nepal and highlighted areas of opportunity, whichincludedarichenvironmentforresearchandagrowingaviationsector.WiththemaingoalofincreasingNepal’seconomic success, the Ambassador emphasized theneed to get businesses in and create jobs. She alsotouchedontherelationshipNepalhaswithsurroundingcountries.

The session was chaired by Sanjeev Gupta, Chairman– Economic Affairs Committee, AmCham and CountryGeneralManager–PublicSector,MicrosoftCorporationIndia.RemarkswerealsomadebyMr.PratyushKumar,Chairman,AmChamandPresidentofBoeingIndia,andMs.MadhviKataria,DeputyExecutiveDirector,AmCham.

Participants were able to ask specific questions andmentioned challenges pertaining to their operationsin Nepal. Companies that participated in the sessionincludedBellHelicopter,Boeing,Caterpillar,CocaCola,Eli Lilly, Honeywell, Microsoft, Monsanto, Sikorsky,Symantec,SynergicsHydroandUTC.

LtoR:AmbassadorAlainaTeplitzandMr.RobertKemp,DeputyMinisterCounselor,Economic,Environment,ScienceandTechnologyAffairs,U.S.EmbassyandJohnArmiger,PoliticalOfficer,U.S.Embassy

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Farewell Reception for Mr. John McCaslin, Minister Counselor for Commercial Affairs, U.S. Embassy and Welcome to Patrick Santillo

AmCham hosted a farewell reception for Mr. JohnMcCaslin, Minister Counselor for Commercial Affairs,U.S.EmbassyandwelcomedhissuccessorMr.PatrickSantillo on 13th September, 2016 in New Delhi. Johnhad completed his 3-year post in New Delhi. Not onlyhas John been a great friend to India, he has broughtexpertise,knowledgeandsupport toAmChamandourmembercompanies,alwaysencouragingbilateral tradeandinvestmentbetweentheU.S.andIndia.

Ms.MadhviKataria,DeputyExecutiveDirector,AmCham

welcomed attendees. Mr. Pratyush Kumar, Chairman,AmCham and President, Boeing India, in his openingremarks, expressed gratitude for John’s support overthe years and looked forward to working with Patrick.AmbassadorRichardVermaspokeaboutthecontributiontheMcCaslinshavemadetothecommunityandstrengthof the Commercial Affairs team. John and Patrick alsospoke.

Thiseventwasmadepossiblebythefollowingsponsors:Amway,Boeing,LockheedMartinandMonsanto.

LtoR:Mrs.andMr.JohnMcCaslin,MinisterCounselorforCommercialAffairswithMr.andMrs.PatrickSantillo,thenewMinisterCounselorforCommercialAffairs,U.S.Embassy

Mr. Pratyush Kumar, Chairman AmCham, and President ofBoeing

LtoR:AmbassadorRichardVermawithMr.JohnMcCaslin,MinisterCounselorforCommercialAffairs

AmbassadorRichardVermaaddressingthereception

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LtoR:Mr.JohnMcCaslin,MinisterCounselorforCommercialAffairs,AmbassadorRichardVerma,andMr.PatrickSantillo,thenewMinisterCounselorforCommercialAffairs,U.S.Embassy,atafarewellandwelcomereception

Mr.PatrickSantillo,thenewMinisterCounselorforCommercialAffairs,U.S.Embassy,excitedtobeginhistenureinIndia

LtoR:Mr.GeorgeSibley(U.S.Embassy),Mr.NikKhanna(Raytheon),Mr.JohnMcCaslin(U.S.Embassy),Mr.PratyushKumar(Boeing)andMr.RanjiDua(DuaAssociates)

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Meeting with Mr. K.T. Rama Rao, Minister, Telangana Government

MembersandU.S.EmbassyofficialsattheAmChamfarewellandwelcomereceptionfortheMinisterCounselorforCommercialAffairs

NationalExecutiveBoardmemberswithMinisterK.T.RamaRaoattheT-HubinHyderabad

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Interactive Session with USTDA and FCS on Outcomes from the U.S. – India Strategic & Commercial Dialogue and Smart City Updates

AmCham’s Infrastructure and Smart Cities Committeeheld an interactive session with USTDA CountryRepresentative,Ms.MehnazAnsari,on22ndSeptemberin New Delhi. The interaction brought up significantoutcomes from the recently held U.S. – India Strategicand Commercial Dialogue. Areas such as innovation,entrepreneurship, ease of doing business, commerceand economy and energy initiatives, such as theU.S.–IndiaCleanEnergyFinanceInitiative,cleanenergyhub, the expansion of the utility support program ofUSAIDandtheU.S.IndiaCatalyticSolarEnergyFinanceProgram.TheeffortsundertheCleanEnergyFinanceTaskForcearebeingexpandedto includenewcleanenergyfinanceinitiativesforjointcollaborations.Ms.Ansarigave

updates from USTDA’s recent outreaches to the citiesofVizag,AjmerandAllahabadandapprisedcommitteemembersonthesecondphaseofsmartcityexpansionprogramslaunched inVizag,aswellastheprogressofthesmartcitymasterplaninAjmerandAllahabad.ShealsoinformedthecommitteeontheupcomingSmartCityStakeholders’workshoptobeheldinVizag,theReverseTradeMission proposed for Ajmer and the CommerceDepartment’s Conference on Smart Cities. Memberswereinvitedtosharetheirviewsonpossiblecandidatesfor the Reverse TradeMission and inputs were soughtforengagingwithstakeholders inVizag,AllahabadandAjmer,duringtheupcomingoutreach.

On the eve of AmCham’s National Executive Boardmeeting, members of the board and members of theHyderabadExecutiveCommitteemetwithMr.K.T.RamaRao, Minister for IT, Municipal Administration & UrbanDevelopment,Industries&Commerce,PublicEnterprises,Sugar, Mines & Geology, NRI Affairs, Government ofTelanganaandhisteamforaninteractivesessionon15thSeptember2016atT-Hub,Hyderabad.

Mr.K.T.RamaRaoexplainedthereformsintroducedbythe Government of Telangana to attract foreign directinvestment and for ‘ease of doing business.’ He alsospokeabouthisvisittotheU.S.andtheinterestAmericancompanieshaveforinvestinginTelangana.

L to R: Dr. Kiranmai Pendyala, Chairperson, AmCham -Hyderabad Chapter and CVP HR Greater Asia, AMD R&DCenter India,Mr.PratyushKumar,Chairman,AmChamandPresident,BoeingIndiawithMr.K.T.RamaRao

National Executive Board Meeting

The third meeting of the National Executive Board ofAmChamfortheyear2016-17,underthechairmanshipofMr.PratyushKumar,President,BoeingIndia,washeldon16thSeptember2016inHyderabad.

Mr. JohnMcCaslin, Minister Counselor for CommercialAffairs and Mr. George Sibley, Minister Counselor forEconomic,Environment,ScienceandTechnologyAffairs,U.S. Embassy, briefed members post the U.S. – IndiaStrategicandCommercialDialogueheldon30thAugust2016inNewDelhi.

Mr. Rampraveen Swaminathan, Chairman, AmCham’sManufacturing Committee, and Chairman & Managing

Director, International Paper APPM Ltd., made apresentation highlighting the committee’s vision andobjectives,broadfocusareas/themes,andworkplanfor2016-17,etc.

Mr.SanjivNavangul,Chairman,AmCham’sPharmaceuticalsCommittee, and Managing Director – Janssen India,Johnson&JohnsonPvt.Ltd.,alsomadeapresentationhighlighting the market landscape characterized bychallenges aroundgovernment investments, regulatory,pricing and intellectual property; government’s multi-pronged approach to propel pharma sector growth;committee’sfocusareasandkeyactivities;issuesfacedandpossiblesolutions,etc.

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HR Committee Meeting

Mr. DP Singh, in his opening observations, apprisedthe participants about the sudden demise of ParidhiGoelThakur,a youngemployeeofAmCham,whowasin charge of theHRCommittee. A two-minute silencewas also observed as a mark of respect to Paridhi. AcondolenceresolutionwaspassedbytheChair,Co-Chairand committee members and “The Paridhi ExcellenceAward”wasannounced.

MembersofAmCham’sHRCommitteeatthecommitteemeetingattheIBMofficeinBangalore

ThethirdmeetingofAmCham’sHRCommitteewasheldon22ndSeptember2016inBangaloreattheIBMoffice,under the leadership ofMr. DP Singh, Chairman – HRCommitteeandVP–HR(India/SouthAsia),IBMIndiaandMr. SameerMathur,Co-Chair andSVP –HR,Citibank.Ms. Mamta Uppal, Membership & Events Manager,AmCham,welcomedcommitteemembers.

Going forward, for the remaining2016and firstquarterof 2017, the HR Committee would be focusing on thefollowing3charters:

• HRDigitizationandFutureofWork,Chair,Mr.SarthakRayChaudhuri,WhirlpoolofIndiaLimited

• LaborReforms,Chair,Mr.PramathNath,KPMG

• EmployeeFrauds,Chair,Ms.KavitaMathur,GT

Thefollowingtwopresentationsweremade:

• Pavithra Sampath, HRTOManager, IBM – made apresentationonfraudanalytics

• Neha Chakraborthy, Recruitment Leader, IBM –made a presentation on IBM’s background checksforrecruitments

In his concluding remarks, Mr. DP Singh thanked thecommitteemembersfortheirparticipation.

ICT Committee Interaction with Ms. Angela Simpson, Deputy Assistant Secretary, National Telecommunications and Information Administration (NTIA), U.S. Department of Commerce

Members of AmCham’s ICT Committee met with Ms.Angela Simpson, Deputy Assistant Secretary, NationalTelecommunicationsandInformationAdministration,U.S.

DepartmentofCommerce,on26thSeptember,2016,inNewDelhi,tobriefheronthemainissues/developmentsinthetelecomandITsectors.

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MembersofAmCham’s ICTCommitteewithMs.AngelaSimpson,DeputyAssistantSecretary,National Telecommunications andInformationAdministration,U.S.DepartmentofCommerce

Ms. Angela Simpson was in India to participate in theU.S.– India ICTDialogue. She informedmembersaboutsomeof themain issues that shewas focusingonwhich

included internet policy, IT, broadband, cross border dataflow, encryption and security, internet of things, cybersecurity,etc.

Manufacturing Committee Meeting

MemberswentonatourofTimken’sTechnologyCenterandplantedatreetocommemoratetheday.Themeetingfocusedontheresultsofthemanufacturingquestionnaire,challenges in specific states, the need to have singlewindowapprovalsandthebestwaytogetinputsacrosstotheGOI.ThecommitteealsobrainstormedonhowtogetmorecompaniesactivelyinvolvedandthebestwaytoshowcaseAmericancompaniesinamanufacturingeventtocelebrateAmCham’ssilver jubileeyearslatedtotakeplaceinearly2017.

The second meeting of AmCham’s ManufacturingCommitteefortheyear2016-17underthechairmanshipofMr.RampraveenSwaminathan,President&ManagingDirector, International Paper India Pvt. Ltd. and co-chairmanshipofMr.SanjayKoul,Chairman&ManagingDirector,TimkenIndiaLimited,washeldon3rdOctoberat the Timken office in Bangalore. Dr. Pradip Datta,Chairman–KarnatakaChapter,AmChamandCorporateVicePresident&ManagingDirector,Synopsys(India)Pvt.Ltd.alsojoinedthemeetingandstressedtheimportanceofmanufacturinginIndia.

ThemeetingwaschairedbyMr.AmitSharma,Chairman,AmCham’sICTCommitteeandExecutiveVicePresidentandPresidentAsia,ATCIndia.Anupdateonthetelecomissues was provided by Mr. Naveen Tandon, Co-Chairman,AmCham’sICTCommitteeandDirector–IEA,

AT&T Communication Services India Private Limited,andanupdateon IT issueswasprovidedbyMr.VivekVasishtha,Co-Chairman,AmCham’sICTCommitteeandCountry Leader – Government and Regulatory Affairs,IBMIndiaPvt.Ltd.

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AmCham’sManufacturingCommitteememberswithTimkencolleagues

AmCham'sManufacturingCommitteeplantedatreeandtouredtheTimkenTechnologyCenter inBangalore(L-Rplantingthetree)Dr.PradipDatta,Chairman–KarnatakaChapter,AmChamandCorporateVicePresident&ManagingDirector,Synopsys(India),Mr.RampraveenSwaminathan,Chairman-ManufacturingCommittee,AmChamandPresident&ManagingDirector,InternationalPaperIndia,andMr.SanjayKoul,Co-Chair-ManufacturingCommittee,AmChamandChairman&ManagingDirector,TimkenIndia

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Northern Region Council Executive Committee Meeting

A meeting of the Executive Committee of AmCham’sNorthernRegionCouncil,under thechairmanshipofMr.Rustom Desai, Managing Director, Corning India andOpticalCommunications,CorningIndia,washeldon5th

October2016inGurgaon.MembersreviewedtheprogressaboutthepreparationofacapabilitydeckofNRCmembersanddiscussedactivitiestobeconducted.Apresentationon“GST–GoingForward”wasmadebyMr.AtulGupta,SeniorDirector–IndirectTax,DeloitteHaskins&SellsLLP.

Mr. Chandramauli Shukla, CEO, Bhopal Smart City Limited, discussing the progress of the Bhopal smart city master plan withAmCham'sInfrastructureandSmartCitiesCommittee

MUMBAIBreakfast Session on ‘Demystifying GST’

On 31st August 2016, AmCham’s Supply Chain andLogistics Committee, in association with knowledgepartner EY India, organized a breakfast session on‘DemystifyingGST’,inMumbai.

ThesessionbeganwithopeningremarksbyMr.MilindTailor,Co-Chair,AmChamSupplyChainandLogisticsCommitteeandHead-SupplyChainManagement,DieboldSystemsPrivateLimited.Thiswas followedbyMr.HiteshSharma,Partner,NationalHeadofLifeScience Industry,EY India,sharinganoverviewondemystifyingGST.

The insightful and interactive session that followedshedlightontheModelGSTLawandGSTN–theITbackboneforGST.Thepresentationsanddiscussionswere ledby3ofEYIndia’staxexperts–Mr.UtkarshSanghvi,PartnerIndirectTaxServices,Mr.SureshNair,PartnerIndirectTaxServicesandMr.PrakashJayaram,Partner,EYIndia.Theevent was well attended by tax and finance leaders ofAmChammembercompaniesintheregion.

ThesessionconcludedwithMr.MilindTailorsharing theclosingremarks.

Smart City Group Interaction with Bhopal Smart City Limited, (BSCL)

AmCham’s Infrastructure and Smart Cities CommitteemadeanoutreachvisittoBhopalon7thOctober2016andmetMr. Chandramauli Shukla, CEO, Bhopal Smart CityLimitedandtheirStrategicAdviser,Mr.AnimeshParihar,todiscussandevaluatetheprogressoftheBhopalsmartcitymasterplan.Duringtheopeninteraction,manysuggestionswereexchangedontheupcomingprojectsundervarioussmart city heads such as the ICT initiatives, retro andredevelopment projects (for which government acquired

landwasavailable),waterandwastemanagement,privatesectorpartnerships,procurement,currentandupcomingRFPsandtheconceptmasterplanmodels.ApresentationontheBhopalconceptmasterplanwasdeliveredbytheCEO,BSCL.ThegrouplookedforwardtotakingupthesepointsandengagingwiththeappropriateofficialsleadingtheseeffortsinBhopalworkingtowardstheoutcomesthatwerediscussed.CompaniessuchasHoneywell,PwC,3M,UnitedTechnologiesandHPEparticipated.

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Mr.SureshNair,Partner,IndirectTaxServices,E&Ygivingapresentation

AmCham supports the 8th edition of the CLO Chief Learning Officers Summit

Mr.PrakashJayaram,Partner,E&YgivingapresentationMr. Utkarsh Sanghvi, Partner, Indirect Tax Services, E&Ygivingapresentation

AmCham supported the 8th edition of the CLO ChiefLearningOfficersSummit,heldfrom1st–2ndSeptember,offeredauniqueplatformforaspiringyoungleadersandentrepreneurstonotonlysharpentheirskillsbutitwasalsoanopportunitytolearnfromsomeoftheluminariesintheindustrytoday.Therewereengagingdiscussionsthroughaseriesofsessionsfocusingonleadershipdevelopment,learningengagementandtechnology,talentmanagementandgrowthamongvariousother topics.Thesesessionscreated an opportunity for promoting individual andorganizationallearninganddevelopment.

ThesummitopenedwithaninauguralsessionbyMr.AnantGeethe, Hon’ble Union CabinetMinister, Government ofIndia, which was immediately followed by a CEO panelsession on ‘Leaders on Learning and Leadership.’ Theesteemed panel was represented by 3 of AmCham’s

members-Ms.ShilpaDivekarNirula,CEO,MonsantoIndiaRegion,Mr.PradeepLankapalli,MDSouthAsia,ThomsonReutersandMr.SirajA.Chaudhry,Chairman,CargillIndia.The2dayssaw21sessionsfocusingonadaptivelearning,transitioningleadershipandsuccessionplanning,learningfromanagilework force,and the right learningmixwithspeakersfromForbesAsia,BBC,NIIT,RelianceIndustries,AdityaBirlaFinance,PepsiCo,andGoogle,amongothers.

AmChamsupportedtheeventwithmemberrepresentativesfromMonsanto,ThomsonReuters,Cargill India,MorganStanley and Johnson and Johnson, who shared theirexpertiseaspanel speakers at the summit. The1stdayof the summit concluded with the TISS LeapVault CLOAwards Ceremony. Day 2 of the event closed with theUniversumawardsandemployersbrandingsession.

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Technology & Innovation in Supply Chain – Plant Visit to the Coca Cola Plant in Wada

Under the overarching theme of technology andinnovation,AmChamIndia’sSupplyChainandLogistics(SCL)CommitteeorganiseditspilotprojectofaplantvisittotheHindustanCoca-ColaBeveragesPvt.Ltd.facilityinWada,Maharashtraon7thSeptember2016.

Supply chain professionals from several AmChammember companies arrived at the Wada plant. Thedaycommencedwithopeningremarksandawelcomeaddress by Ms. Surabhi Wahal, Regional Director –Western Region, AmCham India and Mr. SrinivasanSarangapani,Chairperson,AmChamSupplyChainandLogistics Committee and Director Operations, TimkenEngineering and Research India Pvt. Ltd. Mr. UmeshMadhyan, National Head Infrastructure and Logistics ,HindustanCoca-ColaBeveragesPvt.Ltd.,setthestagefortheday’seventwithhisintroductoryremarks.

Before embarking on a tour of the plant, Mr. GajananPatil,NationalHead–FactoryManager,HindustanCoca-Cola Beverages Pvt. Ltd., shared a presentation thathighlighted themany facets of the plant— the factorystructure,businessprofile,thecompaniesfocusonTPM(total progress ofmankind for business excellence), itsjourney towards growth, supply chain strategic roadmapandtheplant’s focuson internalengagementandexternalstakeholderengagement.

Withprotectivegearon,thegroupwentforthonitstourof the state-of-the-art facility. The entire process, frombottling to packaging, storage and dispatch, was anembodimentoftechnologyandinnovation.AninteractiveQ&A session followed. The insightful event concludedwith a vote of thanks by Mr. Milind Tailor, Co-Chair,AmCham Supply Chain and Logistics Committee andHead – Supply Chain Management, Diebold SystemsPrivateLimited.

AmCham'sSupplyChainandLogisticsCommitteePlantVisittotheHindustanCocaColaBeveragesinWada,Maharashtra

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Western Region Committee Meeting

CSR in India: Working Toward Fulfilling the Sustainable Development Goals in India – Moving the Agenda from the Global to National and Local Level

AmCham, in partnership with the Consulate Generalof theUnitedStates,Mumbai, organized ‘CSR in India:Working Toward Fulfilling the Sustainable DevelopmentGoals in India–Moving theAgenda fromtheGlobal toNationalandLocalLevel’ inMumbaionThursday,29thSeptember2016.TheeventwassponsoredbyBankofAmericaandJohnsonandJohnsonMedical India.Theconvergence of key stakeholders in theCSR domain -corporates,NGOsandthegovernment,culminatedinadeeperunderstandingofsignificantperspectives to thesubject.

Theeventbeganwithopening remarksbyMs.SurabhiWahal, Regional Director – Western Region, AmCham,followed by a welcome address by Mr. MaheshKrishnamurti, Co-Chair AmCham Western RegionCommittee and Managing Director, Resources GlobalProfessionals (I) Pvt. Ltd. and Mr. Kavish Arora, IndiaHead – Corporate Banking & Financial Institutions,BankofAmerica.Thekeynotespeakerattheevent,Mr.Praveen Pardeshi, Principal Secretary to the Hon’bleChief Minister of Maharashtra, shared insights into theprioritiesandprojectsoftheGovernmentofMaharashtrathroughhispresentationonvillagesocialtransformationmission-empoweringruralMaharashtra.ConsulGeneralMr. Thomas Vajda followed suit with an address to allpresent.Mr.HarishKrishnan,Chairman,AmChamCSRCommittee and Executive Director, Public Affairs &Strategic Engagement, India & SAARC Cisco Systems(India)Pvt.Ltd.,sharedavoteofthanksconcludingthe

plenarysession.

ThefirstindustrypanelincludedMr.AmitRaheja,Director– Johnsons & Johnson Diabetes Care Companies,Johnson&JohnsonMedical India;Mr.AshutoshSingh,Vice President Public Affairs, Hindustan Coca-ColaBeverages Pvt. Ltd; Mr. Vikas Shah, Chief OperatingOfficer,WaterHealthIndiaandMs.YoylndLobo,Director–GovernmentRelations,HoneywellIndia.Thespeakersshared the CSR initiatives, priority areas and bestpractices followed by their organizations. The sessionwasmoderatedbyMr.KavishArora.

AnesteemedpanelofleaderswhohavebeenengagedinpathbreakingworkforoursocietyrepresentedtheNGOpanel. ItcomprisedofDr.AnandBang,HealthAdvisor,Tata Trust;Ms. Safeena Hussain, Founder & ExecutiveDirector,EducateGirls;Ms.ShubhaSrinivasan,Director–SocialImpact,Deloitte;Ms.HarpreetBagga,Manager– Capacity Building, Dasra; Mr. Nehal Sanghavi, Sr.Advisor for InnovationandPartnership,USAIDandMs.ZarinaScrewvala,Founder&ManagingTrustee,SwadesFoundation. The session was moderated by Mr. AmitRaheja(Johnson&Johnson).

The Q&A session brought out interesting insights andexperiences of CSR best practices and sustainabledevelopmentbybothindustryandNGOrepresentatives.Theevent concludedwith a voteof thanks followedbylunch.

AmCham’s Western Region Committee meeting washeld on Wednesday, 28th September 2016 at the EYIndia office in Mumbai. The meeting, which was wellattended, commencedwith awelcome byMr.MaheshKrishnamurti,Co-ChairWRC,AmChamandMs.SurabhiWahal,RegionalDirector-WesternRegion,AmCham.

As part of the agenda committeemembers discussed

andreportedon(i)briefupdateonAmCham’sNationalExecutiveBoardMeetingheldinSeptember’16(ii)reviewof recentlyconcludedevents in theWesternRegion (iii)ideationon topical/industry focusedevents for theyear(iv) leveraging on the regions membership network tohavealargeroutreachandfootprintintheWR.TheWRCmeetingclosedwithMr.MaheshKrishnamurti thankingallmembersfortheiractiveparticipation.

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LtoR:Mr.MaheshKrishnamurti,Co-Chair-AmChamWesternRegionCommittee&ManagingDirector,ResourcesGlobalProfessionals,Mr.AmitRaheja,Director–Johnsons&JohnsonDiabetesCareCompanies,Johnson&JohnsonMedicalIndia,Ms.ShubhaSrinivasan,Director-SocialImpact,Deloitte,Dr.AnandBang,HealthAdvisor,TataTrust,Ms.HarpreetBagga,Manager-CapacityBuilding,Dasra,Ms.SafeenaHussain,Founder&ExecutiveDirector,EducateGirls,Mr.NehalSanghavi,Sr.AdvisorforInnovationandPartnership,USAID,Ms.ZarinaScrewvala,Founder&ManagingTrustee,SwadesFoundationandMs.SurabhiWahal,AmCham

LtoR:Ms.SurabhiWahal,AmCham,Mr.KavishArora, IndiaHead–CorporateBanking&Financial Institutions,BankofAmerica,Mr.AmitRaheja,Director–Johnsons&JohnsonDiabetesCareCompanies,Johnson&JohnsonMedical India,Ms.YoylndLobo,Director–GovernmentRelations,HoneywellIndia,Mr.AshutoshSingh,VicePresidentPublicAffairs,HindustanCoca-ColaBeverages,Mr. Vikas Shah, Chief Operating Officer, WaterHealth India and Mr. Mahesh Krishnamurti, Co-Chair, AmCham Western RegionCommittee&ManagingDirector,ResourcesGlobalProfessionals

KeynotespeakerattheCSREvent–Mr.PravenPardeshi,PrinicipalSecretarytotheHon’bleChiefMinisterofMaharashtramakesapresentation.ThepanelLtoR:U.S.ConsulGeneral,Mr.TomVajda;Mr.KavishArora,IndiaHead–CorporateBanking&FinancialInstitutions, Bank of America; Mr. Mahesh Krishnamurti, Co-Chair – AmChamWestern Region Committee & Managing Director,ResourcesGlobalProfessionals (I)Pvt.Ltd.andMr.HarishKrishnan,Chairman–AmChamCSRCommittee&ExecutiveDirector,PublicAffairs&StrategicEngagement,India&SAARCCiscoSystems(India)Pvt.Ltd.

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KOLKATAEastern Region Executive Committee Meeting

Mr.K.P.Sengupta,Chairman–EasternRegion,AmCham,attheECmeetingheldon5thSeptember2016updatedmembersonthemeetinghehadwiththeCMofJharkhandat the Jharkhand investors meeting held in Kolkata.

Forthcomingeventswerediscussed.Heemphasizedtheimportanceofthemembershipdriveandaskedmemberstoassistinthisimportanteffort.

Breakfast Interactive Session on the Concept of Green Cities and their Economic Impact in West Bengal

On 9th September 2016, AmCham Eastern Regionorganizedabreakfastinteractivesessiononthe“ConceptofGreenCitiesandtheirEconomicImpactinWestBengal.”The chief guest was Mr. Debashis Sen, IAS, PrincipalSecretary Urban Development, GoWB and ChairmanWBHIDCOLtd.

Mr.K.P.Sengupta,Chairman–EasternRegion,AmCham,whilewelcomingtheaudience,tooktheopportunitytobriefthemonthedebriefingsessionposttheU.S.–IndiaStrategicandCommercialDialoguewithU.S.AmbassadorRichardVermaandJointSecretary,MEA,Mr.MunuMahawar,heldon6thSeptember inNewDelhi,whichheattended.Hesaid that therewereanumberofpositivedevelopmentson theU.S. – India economic front strengtheningU.S. –Indiastrategicandcommercialrelations.WhileintroducingMr.Sen,Mr.Senguptarequestedtheprincipalsecretarytoexplain thedifferencebetweenagreencityandasmartcityanditssocialandeconomicimpactinthestate.

The chief guest, Mr. Sen, gave a detailed talk on whythe West Bengal Government decided to develop itsown ‘GreenCityProject.’ Theconceptof agreencity isa new one globally. Like the smart city, the focus is onthe creationof sufficient eco-space, a sustainablewaterreservoirsystemandmoderntransportwithlowemission.He spoke about rooftop farming, vertical gardens, solarpower, pocket forest – he said that lakhs of trees werebeing planted, rainwater harvesting and a host of otherinnovatedpillarsrelatedtothegreeningofNewTown,thefirstgreencityprojectthattheGoWBisundertaking.

Ms.AmadaKidwai,RegionalDirector –EasternRegion,AmCham, gave the introduction. Executive committeemembers,Mr.AmitMalikmoderatedthe lively interactivesessionwhiletheconcludingremarksandvoteofthankswasgivenbyMr.JoydeepDattaGupta.

Mr.DebashisSen,IAS,PrincipalSecretaryUrbanDevelopment,GoWBandChairman,WBHIDCOLtd.addressingeasternregionmembers

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Meeting with Dr. Krishan Gupta IAS, Principal Secretary Commerce & Industry Department and Public Enterprise & Industrial Reconstruction Department, Government of West Bengal

Mr.K.P.Sengupta,Chairman–EasternRegion,AmCham

andAmadaKidwai,RegionalDirector–ER,AmChammet

Dr.KrishnaGupta,IAS,PrincipalSecretaryCommerce&

Industry Department and Public Enterprise & Industrial

ReconstructionDepartment,GovernmentofWestBengal,

on22ndSeptember.Thepurposeofthemeetingwasto

introduce the Chairman of the Eastern Region and to

invitethePrincipalSecretarytointeractwithmembersof

AmChamERoneaseofdoingbusinessinWestBengal.

Dr.GuptaalsohighlightedtheupcomingBengalGlobal

Business Summit whichwill be held on 20-21 January

2016.HerequestedAmChamtobringaU.S.delegation

tothesession.

Interactive Session with Minister Counselor for Commercial Affairs, U.S. Embassy, Mr. Patrick Santillo

On4thOctober,Mr.PatrickSantillo,MinisterCounselorfor

CommercialAffairsat theU.SEmbassyinDelhihadan

interactivesessionwithmembersofAmCham’sEastern

Region.Mr.CraigHall,theU.S.ConsulGeneralinKolkata,

andMr.JonathanWard,theCommercialServiceOfficer

accompaniedhim.ThepurposeofthesessionwasforMr.

Santillotounderstandthecommercialaspectsofeastern

IndiaandtheroleAmCham,asabusinessbody,playsin

attractingAmericanbusiness to the region.Mr. Santillo

said thathewashappy tobe inKolkatasoearly inhis

arrivaltoIndia.HementionedthatIndiawasverydifferent

fromothercountrieswhereheserved.Healsomentioned

thathisofficeisverygratefulthatAmChamhadgivena

seattotheconsulateonitsexecutivecommitteeandthat

thisisnottakenforgranted.Hesaidthatthiswasayear

ofpartnershipbetweentheGovernmentofIndiaandthe

USAontourismandthatbothgovernmentswereworking

closely on the development of tourism. Mr. Craig Hall

said thatAmericahasagreatvisionof theU.S.– India

economicrelationshipandthatprioritywasbeinggiven

toeasternIndia.

Mr. K.P. Sengupta, Chairman – AmCham Eastern

Region, gave the welcome address. Mr. Amit Malik,

AmChamEasternRegionExecutiveCommitteemember,

moderatedthesessionandgavetheconcludingremarks

and Ms. Amada Kidwai, Regional Director – Eastern

Region,AmCham,didtheintroductions.

Mr.PatrickSantillo,MinisterCounselorforCommercialAffairs,U.S.EmbassyandMr.CraigHall,U.S.ConsulGeneral,Kolkata

Mr.PatrickSantillo,MinisterCounselorforCommercialAffairs,U.S. Embassy, addressing members in Kolkata with (L-R)Mr.K.P.Sengupta,Chairman,DataCoreIndiaandChairman,Eastern Region and Mr. Craig Hall, U.S. Consul General,Kolkata

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Ashwin Vishwanathan Partner,TransferPricing&InternationalTaxErnst&YoungLLP

Transfer Pricing Road Ahead

becomemore important that income allocation followseconomic value creation and actual conduct of partiesratherthancontractualobligations.

The economic notion that higher risks warrant higherreturnscontinuestobetrueonlyifitcanbedemonstratedthat thepartiesbearingsuch risksexercisecontrolandhave the financial capability to assume them. Groupcompanies performing important functions, controllingeconomically significant risks and contributing assets,as determined through the accurate delineation of theactual transaction, will be entitled to an appropriatereturn reflecting thevalueof theircontributions, therebyemphasizing on ‘economic ownership’ as opposed tomere‘legalownership’ofintangibles.

Fundinggroupcompanyactionswithoutcorrespondingrisk control functionswould entitle the funding entity toearnonlyareturncommensuratewithitscontribution.

The sub-text of all these changes is the primacy ofsubstanceoverformandthecriticalityofstrongbusinesspurposeunderlyinginter-companyarrangements.

This is accompanied by the development of new rulesfor transfer pricing documentation that standardizethe information tobeprovided to taxadministrations toreduce asymmetry. A three-tiered approach involvingamaster file, local file and Country-by-Country Report(CbCR) is expected to reveal information on theglobalsupply chain, distribution of employees and revenuesacrossamulti-nationalgroup, locationof intangibles invarious jurisdictions, the amount of taxes paid in eachcountry. These documentswill help tax administrationstoassesstransferpricingrisksandtargetauditenquiresefficiently.

The tax landscape has been a dynamic one for sometimenow.Thepaceofchangehasonlyacceleratedwithheightened focus brought on by the Organization forEconomicCooperation&Development(OECD)’sprojecton Base Erosion & Profit Shifting (BEPS project). TheBEPS project seeks to introduce greater transparency,addresssubstanceandgeneratecoherence in thewayinternational taxprinciplesareappliedacrosscountriesandtransactions.

In its survey of senior tax executives from public andprivate companies across 22 countries, 74% of whomwere from companies headquartered in theU.S., Ernst& Young found that tax directors are anticipating andpreparing for shifts in their company's tax profile witha growing sense of urgency due to the OECD's BEPSproject.66%reportedthattheenforcementpostureandtactics of foreign tax authorities are more aggressive.Inter-companypricingortransferpricingremainsoneoftheprimaryconcernsofallsurveyedwith64%identifyingitasthemostprevalentBEPSissue.AboutathirdofallrespondentslistedIndiaastheirmostcontentiousregionfortransferpricingaudits.

Transfer pricing for companies in India (typicallymultinationalenterprises[MNE]withIndianaffiliates)hasbeena rocky roadfilledwithcomplexity, inconsistency,uncertainty and controversy. There are serious effortsbeingmadebytheGovernmentofIndiatorepairthisroadthroughaseriesoftaxpayerfriendlymeasures.However,the global headwinds of BEPS imply a new paradigmrequiringseriousthoughtandactionforanalteredfuture.

What is changing?

Whilethebedrockoftransferpricinghasalwaysbeenthatfunctionsandrisksdrivecompensation,ithasincreasingly

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Who is impacted?

Theconsequencesspreadacrossthecorporatetaxpayerspectrum. A MNE’s technology development centerin Indiamayneed to think about its contribution to theglobalvaluechainanddetermine if itscompensation isconsistentwiththiscontribution.Arelatedpartydistributorof branded products may be creating economicownership of this brand through its local advertisingefforts in India and require to be compensated for thiseffort. A businessprocess outsourced service providermaybegeneratingvaluableprocessIPinIndiaforglobaluse invitingquestionsaround its inter-companypricing.A MNE’s Indian affiliate may be legally treated as acontractmanufacturerbutactuallybebearingsignificantrisksandassumingfinanciallossesinconsistentwiththischaracterization.Indiangroupcompaniesmaybepayingfeefortechnologyorservicesreceivedfromtheirglobalor regional headquarters butmay struggle to evidencethisinanaudit.Thislistcangoon.Hence,whatneedstobedoneislogicallythenextquestion.

Actions needed of taxpayers

Itisimportanttoinvesttimeunderstandingthesechangesand identifying gaps.With the need to present greateramounts of information globally, companies need tohaveconsistenttransferpricingpoliciesandarticulateauniformstoryacrossalljurisdictions.Entitystructuresthat

lackcommercialsubstancewouldneedtobereviewed.Closer collaboration between the business teams andtax teams within an organization assumes greatersignificance. In India (as also globally), having strongdocumentation right from the outset of a transaction/ arrangement is paramount. Being prepared with anauditdefencefileproactivelysavescompaniesvaluabletime,effortandmonetary resources. It is reasonable toanticipatetaxauthoritychallengesandfindoneselfbeingdrawn into domestic litigation. In case of controversy,it is essential to consider all alternative options, put inplaceastrategyanddevelopclearobjectivestoexitthebattle.UsingnegotiationsinunilateralorbilateralforalikeAdvancePricingAgreements(APAs)orMutualAgreementProcedure(MAP)canbebeneficial.Involvingprofessionaladvisors early in the lifecycle of documentation, audit,litigation and controversy management helps. Periodicmonitoring of inter-company pricing and its actualoperationalisationwouldenablepickingupearlywarningsignsandtakingcorrectivemeasures.

An early start and better preparedness is going todistinguish taxpayers on this journey ahead whichpromisestobeatoughalbeitexcitingone.

*Ashwin Vishwanathan is a Partner with Ernst & Young LLP. Views expressed are personal.

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HYDERABAD

Thecommitteemembersmeton14thJulyattheofficeofEliGlobalIndiaandon8thAugustattheofficeofMediumConsulting todiscussandchart out the final courseofactionfortheconference.

Thememberswere informedthat thewebsitewouldbeupandrunningforregistrations.Theday-longeventwiththetheme“HarmonizationofIndianHealthcareWithinthe

4th AmCham Healthcare Steering Committee Meetings

GlobalEcosystem”willbebrokendowninto3sessionsnamely:

• GlobalHarmonization

• InnovationandTechnology

• SkillsandDevelopment

4th AmCham Healthcare Conference

The4thannualAmChamHealthcareConferencewasheld

on16thSeptemberinHyderabad.Theoverallobjectiveof

theconference,asoutlinedbyoneofthekeyspeakers,

wastobeacatalystforchangeintheIndianhealthcare

ecosystem.Inthesamecontext,thethemeofconference

was ‘Harmonization of Indian Healthcare Within the

Global Ecosystem.’ There were three panels, global

harmonization, healthcare innovation and technology

and skill development. To set the stage, the keynote

speakersaddressedthegapsandopportunitiesinIndian

healthcare;eachoneofthemhighlightingtheproblemsof

access,affordabilityandqualityandproposedsolutions

around the same; including existing solutions. It also

highlightedsomeofthekeylearnings,notonlyfromthe

Westbutfromsomeofthelesserdevelopednations.

Thepanelonglobalharmonization focusedon the role

of standardization in solving the problems of access

including last mile healthcare delivery. Standards for

harmonization should be all inclusive and continually

focus on innovation.We need to address some of the

bottleneckspreventingmedicaltechnologyreachingthe

endcustomer forwhom it is intended. Thepanel also

focusedon the roleofmedicaldevicesand the impact

of regulation. Safety, clinical efficacy and affordability

areequallyimportantwhiledecidingonanyregulations.

Healthcarestandardsshouldbemadeatagloballevel,

flowingdowntonationsforreformsandadoption.

The panel on innovation and technology focused on

current innovations in the healthcare landscape and

their role in addressing some of the key challenges. It

wasalsobroughttolightthatsomeoftheseinnovations

should address problems at a larger scale, focus on

smaller towns and sustainability. At the same time,

the government could play a significant role in helping

someofthesebusinessmodelsreachthelargermarket.

Technology should be both an enabler and a solution

providerinhealthcareinnovationlandscape.Innovation

shouldfocusontheacuityofneed;intheIndiancontext

problemssuchasanemia,malnutritionandsomeothers

are far more pronounced than others which current

models in themarket might be solving. As was rightly

pointed out during the discussion, a better approach

would be to identify problems and create innovative

solutionsrather thantheotherwayround. Government

couldalsoplayakeyroleinthesame.

The last panel on skills development focused on the

limitations of our current education system which may

notberightlypositionedforskilldevelopment.Giventhe

pervasivenatureoftheindustryandwoefullyinadequate

manpower resources, a radical suggestion emerged

where every organization should mandatorily have

healthcare related subject. It was also suggested that

skillingcanbeagoodenabler to solve theproblemof

healthcareaccess;caseinpointbeinghighinfantmortality.

Trainingcoursesformidwiveswhichisbeinginitiatedby

some of the institutions could help solve this problem.

Itwashighlightedthat intermsofskilldevelopment,we

couldlearnalotfromsomeoftheAfricancountrieswhich

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have taken unique initiatives to solve similar problems;

for instance, ‘ultrasound trainingprogram formidwives’

inNigeriaorNICUtrainingforhighschoolgirlsinSouth

Africa. The panel discussed about some of themajor

changesinmind-setrequiredatalllevelsinourcountry.

Our dependence on starting something new should

not rely on support provided by the government. It is

important to change our attitude towards skilling. Skill

developmentshouldbeequallyrewardingtotheperson

who undergoes training. Finally, in the light of global

harmonization,thepanelalsodiscussedaboutcreatinga

mutuallyrewardingecosystemforIndianandinternational

providersanduniversitiesinskilldevelopment.

Mr.PratyushKumar,Chairman,AmChamandPresident,Boeing

Dr.KiranmaiPendyala,Chairperson,AmCham-HyderabadChapterandCVPHRGreaterAsia,AMDR&DCenter,welcomingMr.RatanJalan,MediumConsulting(KnowledgePartner)forthe4thAmChamHealthcareConference

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Mr.PratyushKumar,Chairman,AmChamandPresident,Boeing, speaking in the inaugural sessionof theHyderabadHealthcareConference2016

Mr.RatanJalan,MediumConsultinggivingalandscapeoverviewofthehealthcaresector

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SessiononGlobalHarmonization–L toR: (Moderator)Mr. JosephNicholas,CEO/President,AmericanOncology,Dr.BalajiUtla,CEOKriyaHealth,Mr.SatyaGottumukkala,PresidentEliGlobal,Dr.Padmanabh,Founder–NiceFoundation,Mr.ArifFahim,TherapyDevelopment,ReimbursementandHealthcareEconomics,St.JudeMedicalinSouthAsia,SouthEastAsia,HongKongandTaiwan

SessiononSkills&Development–LtoR:(Moderator)Mr.NickMitchell,MD–Phenomenex,Dr.SanjivNavangul,MD-JanssenIndia,Dr.EvitaFernandez,Founder/Director,Fernandez,MarutSetia,HeadEducation&SkillDevelopment-GEHealthcare

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BANGALORE

WiththepassageoftheGSTconstitutionalbillinParliamentinAugust,Indiaisatthecuspoffinallyimplementingoneofthebiggesttaxreformsinthepost-Independenceera.VariousIndianstateshaveratifiedtheGSTconstitutionalamendmentbillandthereforetheGovernmentofIndiaisconfidentofgetting15states to ratify thebillwithin thenext few weeks. While companies are busy analyzingtheprovisionsofthedraftlawindetailanditsimpactontheirbusinesses,itisalsoessentialtoensurethattimelyrepresentationsaremadetothegovernment,aswellastoidentifykeyimplementationrequirementsaspartofthepreparations for transition from the existing indirect taxregimetoGSTregime.

Inviewoftheaboveandtounderstandthepreparednessrequired for industry for the transition, AmChamKarnatakaChapter, in associationwithPwC, organizedan interactive sessionwithDr. Parthasarathi Shome onGST rollout – industrypreparednesson6thSeptember

Interactive Session with Dr. Parthasarathi Shome on GST Roll Out

2016,inOrchid,TheOberoi,MGRoadBangalore.

Opening remarks were made by Mr. Pradip Dutta,Chairman,AmChamKarnatakaChapter.He introducedthe well-known Dr. Parthasarathi Shome, Chairman,International Tax Research & Analysis Foundation(ITRAF).

Dr. Parthasarathi Shome spoke about tax revenue andadministrationindicators,GSTcountdown,idealstructureof GST, concerns with India’s GST framework, GSTconcerns,GSTcouncil,whyadministratorslikeGSTandits revenueproductivity, andkeychangesproposedbythe2016amendmentstotheconstitution.ThediscussioncontinuedwithremarksbyKunalWadhwa,Partner,PWConthevariousimpactsofGSTonindustry.TheeveningendedbypresentingasmalltokenofappreciationtoDr.ParthasarthiShome.

Dr.ParthasarathiShome,Chairman,InternationalTaxResearch&AnalysisFoundation(ITRAF)speakingaboutthechangesinGST

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Dr. Parthasarathi Shome, Chairman, International Tax Research & Analysis Foundation (ITRAF) withMr. Pradip Dutta, Chairman,AmChamKarnatakaChapterandothermembersofAmCham

The Changing Landscape of Global Immigration by Fragomen Worldwide and AmCham

On 21st September, AmCham, along with FragomenWorldwide, organized a conference on “The ChangingLandscapeofGlobalImmigration.”SajuJames,PartnerFragomenIndia,welcomedtheguestsandbrieflyspokeoncollaboration,talentmanagementandglobalmobility.Austin T. Fragomen also spoke. The key note addresswas by Lance Kaplan, Partner, Fragomen Worldwideandfocusedonworldwidecorporateimmigrationtrends,significantshift inpolicies,and the importanceofshorttermtravel.

ThepaneldiscussiononU.S.immigration–enforcementtrends and upcoming legislation featured speakersCynthia J. Lange – Partner, Fragomen Worldwide,CarmitaAlonso–Partner,FragomenWorldwide,R.Blake

Chisam – Partner, Fargomen Worldwide and Ravi K.Raghunathan – Global Immigration Leader, IBM. ThesessionwasmoderatedbyScottJ.Fitzgerald,Partner,FragomenWorldwide.

The panel discussed the impact of the upcomingU.S. elections, pressures on U.S. immigration andoutsourcing,perceptionofjobsandinsecurity,politicalpressures and the proposed H1B cap performancesystem legislation, 50/50 employer obligations likerecruitment and non-displacement attestations, thirdpartyplacement,three-tierwagersystemforH1-B’sandL1andtheexpandedemployer liability.Theeventwasattendedbymanymemberorganizations.

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CHENNAI

Abreakfastmeetingwas held on 19th AugustwithMr.PankajKumarBansal, IAS,ManagingDirector,ChennaiMetroRail,astheguestspeaker.

Mr. Bansal began his presentation by giving ageographicaldescriptionanddemographicsofChennai.He said that Chennai is the fourth-largest city in Indiageneratingabout11milliontripsinaday,ofwhichabout6 million is vehicular trips. The ever growing vehicularand passenger demands coupled with constraints oncapacity augmentation of the existing network haveresultedinachaoticconditionduringpeakhoursoftheday.Hesaidthatthepopulationofthecityin1639was40,000andtodaytheestimatedpopulationis7.5million.

Mr.Bansalsaidtherailinfrastructureinthemetropolitanarea comprises 3 sections of broad gauge suburbanroutesoriginatingoutofChennaitowardsthenorth(48km),west(69km)andsouth30km),allofwhicharesaturatedheavydensity routes.Chennai is theonly Indiancity toboastofamassrapidtransportsystem(MRTSoverheadrailnetworkonpillars) in thenorthsouthdirection fromChennaiBeachtoVelacherywitharoutelengthof20km.

Mr.BansalthenspokeindetailaboutthetransportationstudiescarriedoutinChennaiwhichdiscussedthetravelpattern,networkcharacteristicsandthedegreeoftrafficsaturation on the existing roads in the study area. Thestudies recommended transportation improvementshave been reviewed during the preparation of secondmasterplan.Aspartofthestudyshort,mediumandlong-termmeasures for improvement of road and transportinfrastructurewereidentifiedandprioritizedforinvestmentpurposes.

A feasibility study was done in 2003 to prioritize thecorridorsforChennaiMetroRailNetworkandthefollowing

corridorswererecommended:

• Corridor-1:FromAirport–Guindy-SardarPatelRoad-KotturpuramHighRoad -CenotaphRoad -AnnaSalai–Gemini–Spencers-TaraporeTowers-alongCooumRiveruptoRiponBuilding-CentralStation-Broadway–Old JailRoad - TiruvottiyurHighRoadendinginTiruvottiyur

• Corridor-2: From Alandur – Koyambedu - AnnaNagarArch-Aminjikarai–KilpaukMedicalCollege–EgmoreandterminatingatCentralStation

• Corridor-3: From Ambathur Industrial Area -Mogapair-RingRoad-ArcortRoad-PanagalPark-TheagarayaRoad-EldamsRoad-LuzChurchRoad-RKMuttRoad-AdayarBridge-LatticeBridgeRoadterminatingatTiruvanmiyur

• Corridor-4: FromPorur–KodambakkamviaArcortRoad - Panagal Park - TheagarayaRoad - EldamsRoad-LuzChurchRoad-KutcheryRoad–endingatKamarajarSalai

• Corridor-5:AlongtheouterRingRoad

• Corridor-6:FromRadhakrishnanSalai-NugambakkamHighRoad-Mc.NicholsRoad-KMC

• Corridor-7:AlongNH5

Outofthesethefirsttwocorridorshavebeenapprovedby

thestategovernmentforimplementationunderphaseI:

• Corridor-1:Airport toWashermanpet(nowextendeduptoWIMCONagar)

• Corridor-2: Fort - Anna Nagar- Ring Road - St.

ThomasMount

Mr.BansalsaidthatthegovernmentofTamilNaducreated

anSPVtoimplementthemetrorailprojectanditisaJV

between the central and state governments. He said

that thevisonofChennaiMetroRail is ‘movingpeople,

sustaininggrowth’anditsmissionis:“Weshallprovidea

safe, fast, reliable, accessible, convenient, comfortable,

efficientandaffordablepublictransportservicepreferred

byallinasustainablemanner.”

OnthepossibilityofChennaiMetroissuingsmartcards

thatcanbeusedasamulti-purposecardincludingforuse

in ticketing inmetro trains, suburban trains, citybuses,

automaticparkingatmultiplelocationsandforsmallretail

transactions,Mr.Bansalsaidtheyareexperimentingwith

Breakfast Meeting: Smart Infrastructure – The Transport Network: Chennai Metro Rail

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differentsystemscurrentlyanduntiltheendusedevices

are not ready on all city buses, the metro rail will not

introducethissystem.

Mr. Bansal said that Chennai Metro Rail will take over

theMRTS services in two years and thereafter change

the tracks, rolling stock and re-design platforms and

signalingsystemstobeinsyncwiththerestofthemetro

rail operations. Mr. A. Viswanathan, Vice Chairman –

TamilNaduChapter, AmCham, thankedMr. PKBansal

forhisverydetailedandinterestingpresentationandthe

meetingconcluded.

Mr.PankajKumarBansalIAS,ManagingDirectorChennaiMetroRailmakingapresentation

Acrosssectionofparticipantsduringthemeetingon“SmartTransportInfrascructure”

Mr. A. Viswanathan welcomes members to the Augustbreakfastmeeting

Mr. Joseph Bernath, Political Economic Officer at the U.S.Consulateintroducinghimselftomembers

Breakfast Meeting: Smart Infrastructure – Promise and Pitfalls of State-Led Economic Reform

A breakfastmeeting featuring guest speaker Dr. SarahWatson,AssociateFellow,WadhwaniChair inU.S.IndiaPolicy Studies, Center for Strategic and InternationalStudies,WashingtonD.C.,washeldon7thSeptemberinChennai.

WhileIndia’seconomycontinuestopowerforwardatitsnowcharacteristicallystrongclipoverthepasttwoandahalfdecades,Indiahasbeenamongtheworld’sfastestgrowing economies and within the next several yearswould overtake the stronger economies. The second

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Mr.PiyushPatnaikandMr.NSantoshaddressingmembersduringtheSeptember15,2016breakfastmeeting

Breakfast Meeting – Smart Business Infrastructure – Mergers, Acquisitions, Valuations & Other Business Services

Abreakfastmeetingwasheldon15thSeptember15 inChennai featuring guest speakers Mr. Piyush Patnaik,Vice President, Duff and Phelps and Mr. N. Santosh,Director, Duff and Phelps. The meeting was chairedbyMr. AubreyDaniels, RegionalDirector – TamilNaduChapter,AmCham.

DuffandPhelpsprovidesservicestocompanieswhenanobjectiveandindependentassessmentofvalueisrequired.The range of services include finance and accountingexpertise, combined with the use and development ofsophisticatedvaluationmethodologies to fulfilleven themostcomplexfinancial reportingand tax requirements.ConstantmonitoringofthechangingregulationsprovidesconsistentinputstotheFinancialAccountingStandards

waveofeconomic reformscoupledwith the race tobeontopofthe‘easeofdoingbusiness’list,thestatesarecompetingwitheachothertobeadestinationofchoiceforinvestors.

What can be observed is that government managedcapitalismdoesnotfosterinnovationandenforcementoftimelinesforexecutionofprojectsissadlylacking.Thoughgovernmentdirectedinvestmentplaysanimportantroleinthedevelopmentofphysicalinfrastructureandadoptionof new technologies we can observe that governmentofficials never value assets and allocate resources asefficientlyasmarketforcescan.Dr.SarahWatsonbeganbymentioningthatundertheConstitutionofIndia,the29statesoftheunioncontroltheeconomicpolicyinareascrucial for business and some areas like foreign trade,nationalinfrastructure,bankingandcurrency,whilelabourlaws,education,environment,electricityandfactoriesareintheconcurrentlist.

It has been observed that states are likely to movebackwards and forwards as they remain focused onre-election as national governments. This results innarrow parochial interests and lowers the capacity ofbureaucratstofunctionefficientlyandwhatmattersmostisthecloseconnectionstopowerfulinterestsresultinginlesstransparency.

Thecentralgovernment,withitsprogressiveandpanIndiapolicies,isabletoattracthighlyeducatedandmotivated

personstoreturntoIndiaandworkforthegovernment.Thisisnotsowiththestates.Theadvantagesofstateledgrowthandreformisthatstatesaresmallerandnimblerand changing a state’s course requires fewer decisionpoints and buy-in from fewer constituencies. As moststates are sufficiently similar to one another (except inlandarea),thecompetitionbetweenstatesisreal.

State led reforms succeed when discrete actions byindividualstateschangethewaybusinessisdonewithintheir state, a few states have shown success stories inareassuchaslaborlaws,landacquisitionetc.Theothersituationwhichreformssuccessiswhenthestatessignon centrally coordinated campaigns that require a realbuy-in from state governments to have any real effect,viz.,GSTandUDAY.StatesaretheagentsofchangeinIndiaandifthepoliticalwillisthere,itresultsineconomicgrowthandprosperitytoitspeople.

Intherunuptoelections,moststatesannouncefreebiesandthisisnotagoodpolicydecisionas‘makingthingsfreewillnotencourageinvestment.’Itcanbeinferredthat‘statesarelaboratoriesofdemocracy.’Soitisimperativeto bring states ‘on board’ to meet the challenges inbringing about national level and state level reforms topropeltheengineofgrowthinIndia.Thiscanbebroughtaboutbyputtingthespotlightonthechallenges;providinginformationon the reforms; creatingawarenessand forthestatestounitetoactasvoicesforstrongpolicyatthecenter.

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upontheapplicationofmarketmultiplesofcomparablecompanies or comparable transactions to the subjectcompany.Theartofavaluationliesintheabilitytoapplythese tools inaneffectivemanner,utilizingprofessionaljudgment.

Mr.N.Santoshof theadvisory teamsaid thathis teamadvises public corporations, financial sponsors, family-owned businesses and other private companies inmiddle-marketbuysideandsellsideM&Atransactions.Hesaidthattheyprovideservicesunencumberedbyauditindependence concerns and offer seamless analyticalservice throughout the deal continuum, from decisionsupport at origination to deal closing and beyond.Combining market data with fundamental financialcompetencies,theysupportcriticaldecisionmakingwithessentialadviceandinformation.

The services provided include merger and acquisitionfinancial, tax, information technology and humanresourceduediligencetoprivateequity,hedgefundandstrategicinvestors.Mr.Santoshsaidthattheyadviseonallaspectsoftheinvestmentcycleemployinganapproachthatfocusesonvaluedriversanddeal-breakersthatarecritical to investment decisions some of which include:financial due diligence; quality of earnings (QoE); taxdue diligence; information technology due diligence;independent businessplans review (IBR) and segmentreportingassistance.

BoardandtheInternationalAccountingStandardsBoardas they develop implementation guidance and newfinancial reporting ruleswithvaluation implications.Thevaluationopinionsare fullydefensibleanddocumentedto withstand scrutiny from the SEC or other regulatorybodies.

Mr. Piyush Patnaik added that, “Business valuation isimpactedbyamultitudeof factorssuchas thesubjectcompany’s industry, its stage of development and thesourceoftheinvestedcapital.Additionally,thevarietyofpurposes forwhichbusiness valuationsareperformed,the influence of local jurisdictional rules and availablevaluation methods further increase the complexity ofbusiness valuation.” He added, “Many have describedbusiness valuation as both an art and a science.” Thescientific and analytical aspect employs a variety ofapproachesormethodsappliednotonly to thesubjectof the valuation itself, but also to the development ofcertaininputsintothemeasurement(e.g.costofcapital,discounts and premiums). The most commonly usedvaluation methods include the cost, market or income(DCF) approaches. While the cost approach may beappliedonoccasion,theincomeandmarketapproachesare by far the most commonly utilized in businessvaluation.The incomeapproachmeasuresvaluebasedupon the present value of future cash flows of thebusiness enterprise, while the market approach relies

Breakfast Meeting – Smart Business Infrastructure - Make in India: Predix, the Engine of Modern Manufacturing

This breakfastmeetingwas held on 29th September, inChennai, featuring guest speaker Mr. Vivek Mehrotra,Director,RegionalEngagement -Predix&Apps (APAC),GEIndiaandchairedbyMr.AshwinRavindranath,PartnerEYIndiaandMemberoftheExecutiveCommittee.

Mr. Vivek Mehrotra, a member of the GE team thatdevelopedPredix,madeaverypassionateandpowerfulpresentationonhowPredixwouldchangethewayindustryoperates. Predix, is a powerful new software platformdevelopedbyGEspecificallytoconnectpeople,dataandmachinesover the industrial internet.As theworld’s firstindustrial operation system, Predix powers the moderndigitalindustrialbusinessesthatdrivetheglobaleconomy.Predix-based applications are connecting industrialassets,collecting,andanalyzingdataanddeliveringreal-time insights for optimizing industrial infrastructure andoperations,includingGEandnon-GEassets.

Predix is purpose-built platform-as-a-service (PaaS) fordeveloping,deploying,operatingandmonetizingindustrialinternetapplications.

Predix is General Electric's software platform for thecollectionofdatafromindustrialmachines.GeneralElectricplans tosupport thegrowing industrial internetof thingswithcloudserversandanappstore.GEisamemberofthe Industrial InternetConsortiumwhichworks toaid thedevelopmentanduseofindustrialinternettechnologies.

Predix as a cloud-based PaaS (platform as a service)is claimed to enable industrial-scale analytics for assetperformance management (APM) and operationsoptimization by providing a standard way to connectmachines,data,andpeople.GEexpectsPredixsoftwareto do for factories and plants what Apple's iOS did forcell phones. Thesoftwarewas introduced to themarketand made available to all companies in 2015. Built on

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CloudFoundryopensource technology,Predixprovidesamicroservicesbaseddeliverymodelwith adistributedarchitecture(cloud,andon-machine).

Predixcouldalsobedeployedinthecloudtomakeitmorewidely accessible and available. There’s even a versionthat can runonmachines like jet engines,gas turbines,andlocomotives.Butit’salltheretodothesamething–torunapps thatallowus todobigdataanalytics,monitormachines remotely and have them ‘talk’ to each other.Like the cemented train platform, it provides a stableand scalable way to quickly develop and deploy newapplications.UsingPredixwould increase efficiencies in

thewaywedobusinessasitsharesacommonbase,isscalableandhas features thatcanbe tweaked tosuitawidearrayofoperationsandrunbigdataanalytics.Thistranslatesintofastervalueforcustomers.

WhatmakesGEsouniqueistheinstalledmachinebasewithinGEwhichhasgiventhePredixdevelopers,thedeepdomainexpertiseof theengineers thatbuilt them, tightlycoupled with a global network of data scientists. To dothisright,theGEteamusedthephysics-basedanalyticalskillsoftheengineerswhounderstandwhysomethingishappening.Secondly,thedatascientistswho,likeminersofminerals,godeepdown into the lodeofdata lookingforvaluablethingstosurface.Theylookforpatternsandconnectionsthatwemayhavenoteventhoughtabout.It’sthismarriageof thephysicalanddigital thatcreates themostpowerfulresult.

ThereareappscalledPredictivitysolutions.They runonPredix just like apps run on a smartphone in a secure,scalable and consistent way. Predictivity apps can alsokeep an eye on locomotives, collect data about heatand vibration, and predict when you need to performmaintenanceor replaceparts.Theremanysolutions likethis across all GE industries. In fact, this yearGE is ontracktodriveover$1billionofvaluefromthem.GEwouldlikePredixtobecometheAndroidoriOSofthemachineworld.Mr.VivekMehrotrasaidthat“Predixwillbecomethelanguageoftheindustrialinternet.”

Mr.VivekMehrotra,Director,RegionalEngagement-Predix&Apps(APAC),GEIndiamakingapresentationonPredixatthebreakfastmeetingchairedbyMr.AshwinRavindranath,PartnerEYIndiaandmemberoftheExecutiveCommittee

Mr.CharlesCBlake,ConsulattheU.S.ConsulateinChennaigivingmembersanupdateonconsularmatters

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Corporate Members

New Additional Members

AmCham Welcomes New Members

Mr. G V PrasadChief Executive Officer

India & Global Head of Operations Sterling Talent Solutions

Mr. Suryakant PandeyManaging Director

Kimberly Clark Lever Pvt. Ltd.

Ms. Jyoti BhasinRegional Director

NSF Safety and Certification India Pvt. Ltd.

Mr. B.B. SinghBusiness Development Manager (South Asia)

NSF Safety and Certification India Pvt. Ltd.

Mr. Naishadha UpadhyayAssociate Director – SC Operations – Kolkata

Pepsico India Holdings Pvt. Ltd.

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Regional Secretariat

National Secretariat

Mr. L.N. Agarwal Senior Manager & OSD

Email : [email protected]

Ms. Tanya PaulCommunication Director


Ms. Sudeshna Ghosh Regional Director - Karnataka Chapter


Ms. Ruth Sandya RodriguesRegional Director - Hyderabad Chapter

E-mail : [email protected]

Mr. Yeshi DorjeeManager - Administration & PublicationsEmail : [email protected]

Ms. Madhvi KatariaDeputy Executive Director


Ms. Mamta UppalMembership & Events Manager


Ms. Shivani RainaProgram Director - ECP


Mr. Aubrey DanielsRegional Director - Tamil Nadu Region


Ms. Valerie Swope Program Coordinator


Mr. Gaurav Mendiratta Sector Manager - Medical Devices Email : [email protected]

Ms. Udaya Arun Program Manager - Aerospace & Defense


AmCham Team

Ms. Surabhi WahalRegional Director - Western Region

E-mail : [email protected]

Ms. Amada Kidwai Regional Director - Eastern RegionE-mail : [email protected]

AmCham Update · 2016-11-04 · On the eve of AmCham’s National Executive Board meeting, the...

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