APRIL 2010 About CII About CII-USA Contact Us Events Sponsorship Opportunities Bilateral Update Economic Watch & Policy Watch Corporate Watch CII Reports Media Articles Archives Events Updates April 6, 2010 : Session on “Shaping our Post-Crisis World: Prospects for economic and Financial Sector April 7-8, 2010 : Roundtable meeting with Mr Kamal Nath, Minister of Road Transport and Highways April 11- 16, 2010 : CII organized Sessions on “India 2039 – An Affluent Society in One Generation” April 13, 2010 : Session on “Taking India – US Relationship to New Heights” More Yes! Sign me up for the CII US Monthly Report Unsubscribe Forward to friend see more... Click here Thomas Donohue, President and CEO, US Chamber of Commerce; Praful Patel, Minister of Civil Aviation; and Venu Srinivasan, President, CII
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APRIL 2010
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April 6, 2010 : Session on “Shaping our Post-Crisis World: Prospects for economic and Financial Sector
April 7-8, 2010 : Roundtable meeting with Mr Kamal Nath, Minister of Road Transport and Highways
April 11- 16, 2010 : CII organized Sessions on “India 2039 – An Affluent Society in One Generation”
April 13, 2010 : Session on “Taking India – US Relationship to New Heights”
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Thomas Donohue, President and CEO, US Chamber of Commerce; Praful Patel, Minister of Civil Aviation; and Venu Srinivasan, President, CII
APRIL 2010
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Session on “Shaping our Post-Crisis World: Prospects foreconomic and Financial Sector Reform” with Mr Timothy F.Geithner, Secretary of the Treasury, US Department of Treasury and Dr Montek Singh Ahluwalia, Deputy Chairman, Planning Commission.
6 April-New Delhi Confederation of Indian Industry (CII) organized a session with Mr Timothy Geithner, USTreasury Secretary and Dr Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, Government of India, on 6th April in New Delhi, followed by an exclusive dinner. The session was moderated by Mr Tarun Das, former Chief Mentor, CII. Mr Geithner pointed out that India and the US have remarkably few challenges and a lot ofopportunities. The two economies need to effectively collaborate in addressing the challenges and taking advantage of emerging opportunities. On the issue of outsourcing, the Secretary clarified that President Obama’s focus was on strengthening domestic capabilities within the US economy in the light of the global crisis, not against outsourcing per se. However, there is a defensive imperative to establish internal confidence and eliminate economic insecurity. The US is making persistent efforts to expand trade despite the local pressures arising out of the slowdown and job losses. Dr Ahluwalia acknowledged that revitalization and stability of the US economy is essential for India’s return to 10% growth. He also said that India has liberalized the foreign investment regulations in most sectors except a few sensitive areas and is on course to promote Indian investment abroad. India and the US could partner well on infrastructure expansion which is essential to India’s growth momentum. The session was a huge success, with large participation of members from industry and academia alike, who were keen to understand the US perspective on future economic growth and eager to share their thoughts on liberalization and economic policy as well as business collaboration. At the end of the session, Mr Das presented a memento to Mr Geithner - an autographed bat of Sachin Tendulkar, one of the finest Cricket players of India. Mr Geithner said that it wasperhaps the best gift he had received in public office! The complete video of the session is available at : http://cii.in/VideoDetail.aspx
Dr Montek Singh Ahluwalia, Deputy Chairman, Planning Commission; Timothy
Geithner, US Treasury Secretary and Tarun Das, Former Chief Mentor, Confederation
of Indian Industry
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Roundtable with Minister Kamal Nath along with the Global Construction Summit 2010
7 – 8 April - New York CII organized a roundtable meeting with Mr. Kamal Nath, Minister for Road Transport and Highways on 7 April in New York. The meeting was attended by stalwarts in the USinfrastructure sector who are interested in India’s infrastructure boom and the opportunities to invest in this area. The Minister acknowledged that India faces a big deficit in the infrastructure sector. India is developing 35 airports around the country and large metro systems in Chennai, Hyderabad and other cities. India’s road network of 1.3 million kilometers roads carries 75% of passenger traffic. In addition, 75,000 kilometers of National Highways cater to 60% of passenger and goods traffic. India has had a ruralinfrastructure program for 15 years, while the Central Roads Fund is intended for district roads. According to recent figures, India needs to build 20 km of roads every day to cater to needs its needs in road transport. Currently 20,000 km of work, worth $50 billion is inprogress. All terms of qualification for tenders in this sector are transparent and are available online. The government is also working on enabling legislation on highways programme through NHAI, and the Expressway Act is also in the works. The Minister emphasized that India is currently creating more jobs in USA than the other way around—however, investment needs to be a two-way street. US companies can thus play a huge role in India’s infrastructure sector.
Rajat Gupta, Senior Partner Emeritus, McKinsey & Co; Kamal Nath, Minister of Road
Transport & Highways; and Banashri Bose-Harrison, Minister Commerce, Embassy of
India in Washington DC
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Sessions on “India 2039 – An Affluent Society in One Generation” with Mr Harinder Kohli, Author & CEO, President & CEO, Centennial Group
CII organized discussion sessions, themed on the thought-provoking book “India 2039-An Affluent Society in One Generation” from 11 – 16 April in Bangaluru, Kolkata, Patna andChandigarh. The Author, Mr Harinder Kohli, also CEO, President & CEO, Centennial Group elucidated that India’s economic successes are due primarily to its dynamic and competitive private sector and to the newly found “can-do” spirit of the newly confident middle class and youth, despite significant failures of government on many fronts. This book is meant to present to India’s leadership of today, in government, business, and civic society as well as the intellectuals at large, the major issues, challenges, and choices that, in our opinion, they need to confront, starting now, so as to maximize the prospects of our upcoming generations enjoying the fruits of an affluent society. It is time to transform the country’s institutional, administrative and governance systems at all levels. The basic premise of this book is that India can indeed be a growth marathoner, but it must understand the world it is and will be operating in and the changing shape of its economic footprint. It must start to put in place the institutions and policy frameworks consistent with a move from poverty to affluence in one generation. However, development should be done more responsibly and Indian society is undergoing significant transition. CII regional and state offices facilitated the stimulating discussion sessions in all the cities –Bangaluru, Kolkata, Patna, and Chandigarh.
S Chandrasekhar, Vice Chairman, Karnakata State and Managing Director, Bhoruka
Power Corporation; Harinder Kohli; Aroon Raman, Chairman, CII Karnakata State and
Managing Director, Raman FibreScience and Rajiv Lall, Managing Director, IDFC
Limited
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Session on “Taking India-US Relationship to New Heights” with Mr Tom J Donohue, President and CEO, US Chamber ofCommerce
13 April, New Delhi CII organized a session with Mr Thomas Donohue, President and CEO, US Chamber ofCommerce on 13 April in New Delhi, to strengthen Indo-US business ties. At the occasion, Mr Praful Patel, Minister of Civil Aviation, Government of India spoke of the enormous opportunity that India presents in infrastructure development. Mr Venu Srinivasan,President, CII emphasized the growing share of Indian investments and jobs created in the US economy. Job creation is high on the agenda of both the US and India – the US has lost nearly 8 million jobs since the economic recession and India needs to ensure sufficient skills and employment opportunities for its large population, entering the work force every year. Stressing on the bilateral business engagements, Mr Donohue remarked, “Let us collaborate on innovation, infrastructure and bring efficiencies and productivity to each other’s economies – through India’s innovative value-adding IT industry and US’s strength in the retailing, logistics, education sectors. Let us bring our most talented people together to invent and apply technologies that can address the food, water, health, environmental and security needs of our people”. In this context, the US Chamber, the US India Business Council and Confederation of Indian Industry have acritical role to play in deepening commercial linkages and friendship ties between the twocountries.
Thomas Donohue, President and CEO, US Chamber of Commerce; Praful Patel,
Minister of Civil Aviation; and Venu Srinivasan, President, CII
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Luncheon meeting with Mr James Steinberg, US Deputy Secretary of State
21 April, New Delhi CII organized a luncheon session with Mr James B Steinberg, Deputy Secretary of State, USA (also serving as the principal Deputy to Secretary Clinton) on 21 April in New Delhi.The focus of the interaction with Indian corporate and thought leaders was on the current status of educational exchanges, reform issues and opportunities to increase future engagement. The discussions encompassed cooperating on a common accreditationframework for mutual recognition of the respective accreditation bodies;, contributing to the vocational education and training policy, collaborating in course development, structuring faculty and student exchange programs between Indian and US universities and private sector participation in the education sector. They also talked at length about the need and prospects for capacity building. Brainstorming of ideas led to germination of new areas in which the two countries could work together, such as effective use of technology in facilitating distance learning programs. Participants on the Indian side expressed that so far Indo-US collaboration in education has been ad-hoc and needbased. However, going forward, it would be helpful to begin institutionalizing our partnership in areas of mutual interest and to identify priority sectors like green technology, innovation, etc.
Mr James Steinberg (Center), US Deputy Secretary of State with Mr Chandrajit
Banerjee, Director General, CII and Mr Vijay Thadani, Chairman, NIIT.
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Session on “Undercurrents in the Indian Polity: The Challenge of Inclusive Growth” Address by Tarun Das, Former Chief Mentor, Confederation of Indian Industry at Carnegie Institute
13 April, New Delhi On 13 April, Mr. Tarun Das, former Chief Mentor, CII delivered a talk on ‘Undercurrents in the Indian Polity: The Challenge of Inclusive Growth’ at the Brookings Institute, Washington DC. Mr. Das talked about the major developments in India that are not immediately obvious on the surface, but that will shape India’s growth in the coming years. The government has an important role to play in development initiatives, he explained, much new legislation passed by the Indian government, such as NREGA, Right to Information, etc. that amount to a comprehensive social reform agenda. However, given its poor track record in execution, it is now turning to civil society and the private sector. Industry has great capacity for implementation and management of programs—it is the core competence, while NGOs are connected locally. Recently CEOs from the Indian private sector have joined the Government – this is unprecedented move. Forging of these cross sectoral partnerships will change the way social sector programs are run and conducted. India’s goal of skilling 500 million young people, first articulated by Prof. C KPrahalad, led to the National Skills Development Corporation. Indian industry is providing innovative solutions and low cost products to cater to the needs of the millions of people at the lowest economic rung. Rural areas are being transformed by several factors –technology, television, telecom, and IT, connecting them to the mainstream economy. The education sector is being opened up to the private sector and companies are tying up with domestic and international universities for research and collaboration. Through mobile clinics, tele-medicine etc., affordable and quality healthcare is being made available to people across the country. Today there is an implosion of the entrepreneurial spirit inIndia. SMEs in India will play a big role in the coming days and it would help to connect SMEs in both India and US. India needs a different model of development – neither capitalist, nor socialist – a mixed model that will take India to 10% growth. There is a new found confidence in India - the idea that Indians can take on the world - a heartening, new phenomenon, one that is fundamentally changing the way Indians view themselves, and their position in the world. At the end of the day, it is our people—our human resources that will drive future growth.
Stephen P Cohen, Senior Fellow, The Brookings Institution and Tarun Das, Former
Chief Mentor, Confederation of Indian Industry
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Page 2 of 2CII Bridge Connecting India with USA & Canada
CII-USIBC Dinner Reception for Suzlon’s LEED India Platinumaward
29 April - Washington DC CII organized a dinner reception on 29 April 2010 in Washington DC, celebrating Suzlon's success in achieving the highest green building rating level in the world - the LEED India Platinum award (for Leadership in Energy and Environmental Design) for Suzlon’s “One Earth”, its recently commissioned global headquarters. Her Excellency Meera Shankar, the Ambassador of India to the United States, on behalf of the India Green BuildingCouncil (IGBC) presented the award to Mr Tulsi Tanti, Chairman and Managing Director, Suzlon Energy. CII has been at the front of promoting LEED standards in India, which specify stringent norms for green, energy-efficient and high-performance buildings. CIIestablished the CII-Godrej Green Business Center and the IGBC, in partnership with the Government of Andhra Pradesh, Godrej Foundation & USAID, with technical cooperation with the United States Green Building Council (USGBC). Suzlon’s ‘One Earth’ campus is among the first 100 sites in India to receive LEED certification. Developed on an area of 41,000 square meters (10.13 acres) with a capacity to house 2,300 people, One Earth is 100% renewable energy-powered campus. Features like in-house recycling plants,daylight and occupancy sensors, efficient ventilation system, storm & rainwater management system make the building not only energy-efficient but also help curb costs. The reception drew participation from various US government agencies, corporate leaders, academics and media, who were highly appreciative of the efforts of Indian industry in viewing the challenge of climate change, as an opportunity and innovatively pursuing the path of sustainable development.
Meera Shankar, the Ambassador of India to the United States, on behalf of the India
Green Building Council (IGBC) awarded the LEED India Platinum certification to Tulsi
Smith, Chief Operating Officer, United States Green Building Council (USGBC) and S
Raghupathy, Senior Director, CII - Sohrabji Godrej Green Business Center.
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G8/G20 Business Summit
29 - 30 April- Ottawa, Canada Mr Hari S Bhartia, President-Designate, CII, and Co-Chairman & Managing Director, Jubilant Organosys Limited represented India at the G8/20 Business Summit held on 29 April 2010 in Ottawa. The Business Summit was attended by CEOs and leaders of Industry bodies from 15 countries along with senior officials of the Government of Canada, including Mr Peter Van Loan, Canadian Trade Minister and Mr Stockwell Day, Governor of the Central Bank of Canada and former Trade Minister. The highlight of the Summit was the address by the Canadian Prime Minister Stephen Harper. Mr Hari Bhartia was one of the Panelists at a session on "Engines of economic growth: Maximizingopportunities for All" which was moderated by George Haynal, Vice-President,International and Government Affairs, Bombardier Inc. Other panelists included leaders from the Federation of Korean Industries, Confederation of National Industries of Brazil, Business Unity South Africa (BUSA), Australian Industry Group, China Council for thePromotion of International Trade and the Canadian Chamber of Commerce. The Canada-India Business Council (CIBC) hosted a reception dinner for Mr Bhartia. Mr Bhartia also met with Mr John F Manley, President, Canadian Council of Chief Executives and Mr S M Gavai, the Indian High Commissioner during his visit.
Hari S Bhartia, President-Designate, Confederation of Indian Industry and Co-
Chairman & Managing Director, Jubilant Organosys Limited addressing at the G8/G20
Business Summit in Ottawa
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Canada – India Conclave on ‘Corporate Social Responsibility’ jointly organized by CII and Canadian High Commission
30 April - New Delhi CII, in collaboration with the Canadian High Commission, organized the Canada-India Conclave on Corporate Social Responsibility on 30 April in New Delhi, in an effort toaddress the successful co-existence of Industry, Environment and Society. In a convincing address, Ms Santha Sheela Nair, the Guest of Honour, Secretary, Department of Mines, Ministry of Coal and Mines, Government of India, said that good CSR practices could be a means of conflict resolution. This was true of mining activities as the areas that were rich in minerals were often also backward and poor and a CSR strategy that involved the local people from the very beginning. Mr Joseph Caron, High Commissioner of Canada to India described CSR as a fundamental component of contemporary corporate behavior. He said that Canada had good CSR practices that stemmed from a pragmatic realization that this was the best way for organizations to work effectively, efficiently and productively. Mr Salil Singhal, Chairman, CII MSME Council & Chairman, Secure Meters Ltd, spoke of the urgency with which India needed to include the poor and marginalized into its otherwise impressive economic growth story. With representatives of award winning Public Sectorenterprises such as ONGC, prominent corporate organizations such as the Bharti Foundation, NGOs, and activists of the CSO movement all finding a voice, the conclave showcased the many factors required for the successful co-existence of industry, ecology and society and how to move forward on the path to economic growth, job creation and long-term sustainable development in a concerted manner by imbibing these factors into any development model.
Joseph Caron, High Commissioner of Canada to India; Santha Sheela Nair, Secretary,
Ministry of Mines; Salil Singhal, Chairman, CII MSME Council & Chairman, Secure
Meters Ltd. & Madhu Pillai, Director, CII
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India-US Bilateral Trade ($ Millions)
2010 Exports Imports Trade Balance
Jan-Feb 2,080 1,295 785
March 2,472 1,455 1,017
April 1,958 1,235 723
Year-to-Date 6,510 3,985 2,525
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US Economy / Policy watch 1. President Obama proposes tough limits on largest banks: Obama is now aiming to force the firms to choose between the federal benefits that come with being a bank and the unbridled pursuit of profits. Obama's plan would bar banks from making investmentsthat are not intended to benefit customers, including the creation of proprietary investment funds solely to benefit employees and shareholders. New limits also would make it difficult for the largest banks to become any bigger, effectively stopping domestic expansion. More
2. US healthcare reform falls ill: Last week’s loss in Massachusetts has stunned the Democratic party and caused panic. One likely consequence is that healthcare reform –Barack Obama’s signature initiative – will go down to defeat. This is a reform that the US badly needs, and which is decades overdue. Must the effort be abandoned? More
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Corporate Watch 1. Dr Reddy’s launches generic hypertension drug in US April 27, 2010; The Mint Hyderabad: Pharmaceutical firm Dr Reddy’s Laboratories Ltd on Monday said it has launched in the US a generic version of Swiss pharmaceutical firm Novartis International AG’s hypertension drug, after getting regulatory approval earlier in April. Read More 2. SBI chief says may raise rates in couple of months April 07, 2010, Reuters State Bank of India, the country's top lender, may raise its lending and deposit rates in a couple of months, said its Chairman O.P. Bhatt on Tuesday. Read More 3. TCS joins the IT party, posts 47% rise in net April 20, 2010, Economic Times India’s largest software exporter Tata Consultancy Services (TCS) joined rival Infosys in signalling an improving environment for the $60 billion IT industry, as increased spending from top customers such as Citibank and General Electric boosts profits. Read More
