Index [] Newsletter July 2013 Issue 12.pdf · Happenings at IACC Head Office IACC supported Defence...

Index Contents

Index

President’s Message ............................................................................................................................... 4

From the Secretary General’s Desk ......................................................................................................... 6

Happenings at IACC ................................................................................................................................ 7

Trade Opportunities at IACC ................................................................................................................. 25

US investments in India ........................................................................................................................ 28

New York based Blackstone picks up 97.9% in Agile Electric for Rs 600 crore ............................................................... 28

India’s Investments in U.S ..................................................................................................................... 29

RIL to invest $5.1 bn in US shale gas biz ......................................................................................................................... 29

OnMobile completes $17.8-m Livewire deal .................................................................................................................. 29

Birla plans to invest $1 bn in US chemical plant ............................................................................................................. 30

Indo-US Corporate News ...................................................................................................................... 32

Cadbury India to invest Rs 1,000 cr in AP plant .............................................................................................................. 32

Lupin acquires US rights to market anti-diarrhoeal drug, Q1 net up 43 percent. .......................................................... 32

Ford's project B562 to make India a compact car global production base .................................................................... 33

Texas based Fossil may set up first single-brand retail store in Bangalore .................................................................... 34

Natco ready to launch generic Copaxone in US .............................................................................................................. 35

Lupin expects to launch 20 products in US next fiscal .................................................................................................... 35

Hero Moto to set up factories in US, Latin America ....................................................................................................... 36

Strides Arcolab gets USFDA nod for anti-AIDS combination drug .................................................................................. 36

Ashwagandha gets US patent for vaccine adjuvant........................................................................................................ 36

Lupin to market New Jersey based MSD’s pneumococcal vaccine in India .................................................................... 37

In the News: ......................................................................................................................................... 38

Joe Biden pitches for expanding Indo-US trade .............................................................................................................. 38

Nancy Powell meets Puducherry CM .............................................................................................................................. 39

US, India discuss joint production of military equipment............................................................................................... 40

Indian-Americans can play key role in India-US ties: Joe Biden...................................................................................... 40

A USD 5 million boost for India studies in US ................................................................................................................. 40

NASA, ISRO in talks for developing satellite jointly. ....................................................................................................... 41

TCS hires 174 from US campuses .................................................................................................................................... 42

Chidambaram for closer Indo-US economic ties ............................................................................................................ 43

Indian student gets 1.2 crore scholarship to study film making in US ............................................................................ 44

Obama nominates Indian-American Nisha Biswal as assistant secretary of state for South Asia .................................. 44

Indo-US Collaboration in the Field of Space Technology on Agenda ............................................................................. 45

Indo-US trade can be mutually beneficial, say dairy exporters ...................................................................................... 46

Indian-American docs to bring affordable healthcare to India ....................................................................................... 46

US-India have common goals in future global context: Joe Biden ................................................................................. 47

Series of steps needed to address Indo-US trade concerns: Tata .................................................................................. 48

FDI approvals to boost Indian economy ......................................................................................................................... 48

Policy relaxation can spur FDI: IACC ............................................................................................................................... 49

Indian-American scholar headed to India to study Ayurveda ........................................................................................ 49

When Carnegie Mellon President Subra Suresh kept his date with Indian roots ........................................................... 50

IIT-B one of the best in world: US vice-president Joe Biden ........................................................................................... 52

Calendar of IACC Events for 2013 .......................................................................................................... 54

Indo-US Trade Statistics ........................................................................................................................ 57

2013: U.S. trade in goods with India ............................................................................................................................... 57

2012: U.S. trade in goods with India ............................................................................................................................... 57

India – US Trade Analysis ...................................................................................................................... 58

International Buyer Program, 2013 Trade shows ................................................................................... 59

How to reach us: .................................................................................................................................. 60

Get Social with the Only Bilateral Chamber of Commerce for Indo-US Business, IACC ................................................. 60

President’s Message

The visit of US Vice President Biden and the extended consultations he held with the Indian administration in July this year was significant in many ways. Biden had a heavy economic agenda to discuss with the Indian authorities. Foremost among them was to impress upon the Indian government to strengthen the Intellectual Property Rights (IPR) rules and regulations to make India a conducive place for investment particularly in the pharmaceutical sector. The recent decision by the apex court of India disallowing patent to incremental innovation, though relating to Novartis, a non-American company, will have a significant impact on US pharma companies operating in India. Vice-President Biden seems to have taken up with the Indian authorities the decision taken by the Indian government in February 2012 relating to phased domestic manufacturing of the equipment that go into telecom sector. Their plea was that the rule, if implemented, will greatly impact economic relationship with India, since the US perceives India as a major importer of spare parts and equipment for its fast growing telecom sector. Admittedly, India’s decision was mainly driven by security concerns. It wanted to keep at bay the likely penetration of the spyware from foreign sources, which can discreetly intercept the communications and pose security hazards. The US has succeeded in putting this decision partly in a limbo. The Prime Minister’s Office (PMO) has agreed to put a hold on the policy and making it applicable to only public sector undertakings on the plea that testing infrastructure in India will be strengthened to purge out undesirable imported equipment. The Indian side seems to have impressed upon the US VP the need for rolling over the Generalized System of Preferences (GSP) enjoyed by India enabling it to export at concessional import duty a wide variety of merchandize to the US. The GSP regime, which is enjoyed by the developing countries to the US market, expired on 31st July 2013 and further roll over of the regime till 2015 is expected. It is estimated that India through the GSP route exports closely US$ 3.5 billion worth of goods mainly from the small and medium enterprises. It is important that this time tested system is rolled over to get India its due share in the US market. The underlying premise is that an expanding bilateral trade is a win-win situation for bolstering the economic partnership. Gain in one sphere can be traded off for loss in another. That is the spirit of partnership. The reaffirmation of the RIL to invest close to US$ 3.5 billion in the exploration of shale gas in the US has partially lifted up the Indo-US economic sentiment. Also, the convergence of views expressed by the two major political parties, in the opposite camps in India, for foreign equity participation in the pension sector has inducted a waft of fresh air in the economic scenario. It is also certain that the food security ordnance will be passed since there is a near consensus for the ordinance across political parties. Yet, there are more than 44 pending bills including the much awaited and debated insurance bill that seeks to increase the threshold limit for foreign investment in the sector and land acquisition bill , that await the final nod from the legislature. One has to keep the fingers crossed about the future of such legislations, which are critical to take forward the reform process. The macroeconomic fundamentals in the country continued to be a matter of concern. Inflation, which was under manageable level a few weeks back, started creeping up. With the rupee value vis a vis greenback sliding further and breaching the earlier mark, current account deficit is mounting. Since the forward cover for rupee for the next three months are ruling high at Rs. 62.50 or so, it important to take some concrete steps for abating the unwarranted rupee

slide. A soft loan to the extent of US$ 5-6 billion is worth considering at this juncture. Since inflationary pressure is mounting, the interest rates are going north, denying funds at affordable cost for modernization and expansion. In this regard, a loan from multilateral sources is economically expedient, at his juncture. Shourya Mandal National President, IACC

From the Secretary General’s Desk

Dear Members, US Vice President Joe Biden in his recent address at Bombay Stock Exchange stressed the possibilities for furthering the Indo-US partnership in the 21st Century. He also catalogued obstacles that can impede progress. Coming close on the heels of Secretary Kerry’s visit to India, Biden’s was indeed a confidence building exercise and opened newer ground for accelerating partnership in many segments, particularly clean energy, security and environment related aspects. Implicit in his speech to the elites of the India Inc. was the clarion call for fair trade and creation of a conducive investment regime that enabled more investment opportunities in India. Security partnership between the two countries was underscored to de-escalate tensions, fight terrorism for the harmonious growth of the two large economies. He wanted India to emerge as a dominant player in the Asia-Pacific region. Closer ties between citizens, businesses and universities / community colleges of both countries to nurture talents and for capacity building was also stressed. He laid emphasis on a partnership defined by results rather than potential in areas like technology, infrastructure and for creating strong supply chains across India. Referring to the two way-trades, he said that the two countries have managed to increase our bilateral trade fivefold, reaching nearly $100 billion, in the last 13 years and urged for a further fivefold increase in trade in the upcoming years. Biden stated, “There is no contradiction between strategic autonomy and a strategic partnership. Global powers [such as U.S. and India] are capable of both”. He stressed the need to operationalize political thought and economic sustainability while serving the needs and vision of both India and the United States. Text of Biden’s speech is uploaded at https://www.iaccindia.com/page.asp?pageid=352. It is our sincere endeavor to make this issue interesting. I invite you to take the time to read the updated Events Calendar and request you to actively participate in our upcoming pan India initiatives. With regards, Atul Vyas, Acting Secretary General

https://www.iaccindia.com/page.asp?pageid=352

Happenings at IACC Head Office

IACC supported Defence Offset – MSMEs Network with DPSUs, DRDO and Private Industry on July 19-20, 2013 at HAL Campus, Bangalore

Indo-American Chamber of Commerce (IACC) was a supporting partner for the 2-day interactive Offset Workshop and Buyer-Seller Meet titled “Defence Offset – MSMEs Network with DPSUs, DRDO and Private Industry” hosted by the Society of Indian Aerospace Technologies and Industries (SIATI) in association with National Small Industries Corporation (NSIC), Ministry of MSME, The Society of Defense Technologists (SODET) and knowledge partners. Honorable Minister for MSME, K.H.Muniappa, was the Chief Guest and Dr. C.G. Krishnadas Nair inaugurated the workshop. H.P.Kumar - CMD NSIC, Udaykumar- Director (P&M), Naresh Babu - MD, HAL, K.K. Pant - IAS Joint Secretary (Aerospace) Ministry of Defense, M. Vidhyashankar - IAS, Principal secretary, Dept of Industries, Uma Pillai - IAS Former Secretary, Defence Production, and Air Cmde (Retd.) J. Varkey, Hon Secretary General, SIATI addressed the inaugural session. IACC was prominently featured onsite and had contributed many delegates. Mr. Vasanth Kini, MD Titanium Industries and Chairman of IACC’s Aerospace and Defense Forum, addressed the audience on “Supply Chain Challenges in Performance –Aerospace materials” on Day 1 and “Opportunities for US & Indian SMEs in Aerospace Offset Program” on Day 2. IACC’s unique position as B2B facilitator between US A&D SME’s and nascent Indian industry was highlighted. Delegates from across India expressed interest in joining IACC.

Mr. Vasanth Kini, Chairman, IACC Indo-US Aerospace & Defense Forum, delivering an address on ‘Opportunities for India & US

SME's A & D India Offset Program’

Dr. C. G. Krishnadas Nair, Chairman SIATI; Former CMD HAL (Hindustan Aeronautics Limited) in conversation with a delegate

West India Council 9th Indo-American Corporate Excellence Awards 2013

The Indo-American Chamber of Commerce organized its 9th Indo-American Corporate Excellence Awards at Hotel Trident, Nariman Point, Mumbai, on July 1, 2013. Celebrities like Prabhu Deva, Poonam Dhillon, Gulshan Grover were present at the Awards Ceremony. The primary objectives of the program are to:

Recognize the best US Companies in India and vice versa And to celebrate the 237th American Independence Day

Maharashtra State Chief Minister Shri. Prithviraj Chavan, who has a Master’s Degree from University of California, Berkeley, was the Chief Guest. The Guests of Honor were Shri. Dilip Walse-Patil and US Consul General Peter Haas. A number of prominent companies participated in the awards program this year across 13 categories such as CSR, financial services, FMCG, gems and jewelry, innovation, manufacturing, media and entertainment, SME, technology and communications, and other services. Awards were also presented to the Overall Best Company, Best NGO, and Best Woman Corporate Leader. The jury comprised names like Peter Haas, Nadir Godrej, Nimesh Kampani, Harsh Mariwala, Dr K K Nohria and many others. The event, which was covered extensively in print, electronic and digital media, also saw the attendance of over 500 VIPs from all walks of life such as Finance, legal, IT, Manufacturing Marketing, Consultancies and pharmaceuticals among others. The 9th I-ACE awards 2013 is IACC's flagship event and serves as an excellent platform for business networking and an interaction with the who's who of the Indian and American business world. The awards program was intended to inspire companies in various sectors which are already doing outstanding work to raise the bar and contribute to enhanced economical and industrial growth. Chief Minister Shri. Prithviraj Chavan extended his heartfelt congratulations to the Award Winners, US Consulate, The American Embassy in Delhi and all of its people on behalf of Maharashtra and India as a whole. Shri. Chavan proudly mentioned that the US and India share very warm relations with one another and have several things in common apart from being the world’s largest democracies. Chief Minister Chavan said, “If we work together I’m sure it will help both the economies to get out of the current situations, to move forward, continue growing at the usual rates. India has been growing at a very substantial rate of growth of 8-9 percent, we want to get back to that level very soon and I’m sure working together will allow us to do that”. Shri. Chavan commented that he is sure that India would be able to sustain economic growth at the usual 8-9 percent once the situation improves. The CM also commented that, “We have had a live dialogue with the US Government. Last year I met the Secretary of Commerce, last week I had a delegation from homeland security working very closely together in protecting Mumbai, Maharashtra and they had very useful consultations in Delhi as well.” Shri. Chavan in his closing note expressed that “there is a bright future ahead as long as both India and US walk the path together”. Consul General Haas in his speech informed that they are working on defense co-operation and enhance security for India and the US and that he was very happy to see all of the companies from India, which have invested in the US and the US companies, which have invested here in India, being recognized and awarded. Mr. Haas said: “I think it is wonderful that hundreds of thousands of Americans can say proudly that they work for Indian companies and hundreds of thousands of Indian can say proudly that they work for American companies”. Commenting on the event, Mr. Nanik Rupani, Regional President, Indo-American Chamber of Commerce (IACC)-WIC said: "Our main aim is to promote trade and commerce between India and the United States and at the same time make our cultural bilateral ties stronger." He also mentioned that special emphasis will be laid upon education, which is a key for the progress of any nation.

IACC works closely with the US Embassy and Consulate to expand the multi-faceted relations between India and US. In keeping with tradition, the US consulate had endorsed the program with several of the senior officials who were in attendance.

Mr. Nanik Rupani, Regional President, IACC –WIC, welcoming the guests at the I-ACE Awards 2013

Mr. Rupani presenting an appreciation memento to Maharashtra Chief Minister Shri Prithvi Raj Chavan for gracing the ceremony as

the Chief Guest

Mr. Rupani presenting an appreciation memento to Shri. Dilip Walse-Patil, Speaker of Maharashtra Legislative Honor US Assembly

for attending the program as a Guest of Honor.

Mr. Rupani presenting an appreciation memento to Guest of Honor US Consul General Peter Haas for gracing the awards program.

CM Shri Chavan presented the award trophy to Mr. Sandip Sen (3

rd from left), Global CEO of Aegis Limited for the Overall Best Indian

Company in the US and Best Indian Company in the US in Innovation. Also present on the stage (from left to right) are Mr. SM Gupta, Global Chief People Officer, Aegis Limited, Mr. CM Sharma, Global Chief Finance Officer, Aegis Limited, Mr. Rupani and Ms.

Rajyalakshmi Rao, Chairman, 9th

I-ACE Awards 2013

CM Shri Chavan extended his heartfelt congratulations to the Award Winners in his closing note at the program

Guests interacting during the event

Celebrity Guest Prabhu Deva and the actor Girish Kumar from the upcoming movie ‘Ramaiya vastavaiya’ being honoured with flower

bouquets at the Awards Ceremony

Click here to Read the Speech by Shri. Prithviraj Chauhan, Chief Minister of Maharashtra at the 9th Indo-

American Corporate Excellence Awards.

Click here to Read the Speech by Shri. Dilip Walse-Patil, Speaker of Maharashtra Legislative Assembly

Click here to Read the Speech by Mr. Peter Haas, US Consul General





Gujarat Branch Breakfast meeting on 'Sister City- Ahmedabad & USA' by Hon’ble Mayor, Ahmedabad, Smt. Meenaxi Patel

Indo- American Chamber of Commerce (IACC) organized a breakfast meeting on “Sister City- Ahmedabad & USA” by Hon’ble Mayor Smt. Meenaxi Patel on 18th July, 2013 between 9.30 am to 10.30 am at Hotel Inder Residency, Ahmedabad. Smt. Meenaxi Patel explained that, a sister city occurs when two cities or towns agree to share a cultural or commercial connection. It is also referred to as twinning towns. Many cities across the world are twinned. Sister cities or twin towns are local school and/or chamber of commerce programs designed to foster international communication and cooperation. Like the city version of a "pen pal", a city is assigned one or more similarly sized and situated international cities. A sister city relationship becomes official with a signing ceremony of the top-elected officials of the two local jurisdictions, following approval by the local city councils. Sister city partnerships have the potential to carry out the widest possible diversity of activities of any international program, including every type of municipal, business, professional, educational and cultural exchange or project. Sister city programs are also unique in that they inherently involve the three main sectors in a community: local government, businesses, and a wide variety of citizen volunteers. Chairman Mr. Mihir Joshi said that we are looking forward to encourage Sister City partnership between Ahmedabad and Houston. He also briefed that in the 2008 IACC, Gujarat Branch had played the successful mediator role to bring two cities close and assign MOUs between Ahmedabad & Columbus, Ohio for the establishment of sister cities relationship. The program was very well attended and represented by various industries, professionals. Citibank was sponsor of this programme. The programme was followed by Breakfast. The event was covered by print and electronic media like DNA, Indian Express, Divya Bhaskar, Manav Mitra, & World magazine, TV coverage by Doordarshan, etv News, Jano Duniya TV, Sandesh TV News & VTV News.

(L to R) Smt. Meenaxi Patel- Mayor, AMC; Ms. Krishna Isarani- Branch Secretary, IACC- Gujarat Branch; Mr. Mihir Joshi- Chairman,

IACC- Gujarat Branch

Audience during the programme

Mr. Mihir Joshi delivering vote of thanks

Mayor Smt. Meenaxi Patel along with the IACC- Gujarat branch council members

North India Council Under the aegis of NIC Fashion & Lifestyle Committee, IACC organized a Jewellery Show in association with

PC Jewellers on July 17, 2013 at ACSA, New Delhi

(Extreme Left) Mrs. Aruna Sethi, Chairperson, Women’s Committee and Fashion & Lifestyle Committee welcoming the members.

Dr. Lalit Bhasin, Regional President, IACC-NIC addressing the members

Mr. Balram Garg, Managing Director, P C Jewelers Limited addressing the members

East India Council

Indo-US Fellowship Night on July 12, 2013 at The Oberoi Grand, Kolkata The Indo American Chamber of Commerce organized `Indo-US Fellowship Night' to commemorate the 4th of July (American Independence Day) and combined it with a farewell to Mr. Dean Thompson, US Consul General. The programme was held in association with the Oberoi Grand. Mr. Dean Thompson, US Consul General, addressed the audience and elucidated the close association and working relation between the office of US Consulate Kolkata and IACC. He lauded the commendable commitment of the immediate past Regional President Ms. Heena Gorsia and present President Mr. S.D Mookerjea and their team towards promotion of Indo-US relation and fellowship in every aspect, during his term as Consul General. Dr. Krishna Gupta IAS, Managing Director WBIDC spoke of the prospects of Indo-US business development in the Eastern Region. Mr. H.P Budhia, Chairman Patton International and Mr. Nishit Thacker, Director Thacker Dairy, as successful and leading entrepreneurs, were spokesperson from the industry.

(L-R) Madhusree Daityari Regional Director, IACC-EIC; Mr. H.P Budhia, Chairman, Patton International; Mr. Shourya Mandal, National

president, IACC; Mr. Dean Thompson , US Consul General, Kolkata; Mr. S.D Mookerjea, Regional President, IACC-EIC; Dr. Krishna Gupta IAS, Managing Director, WBIDC & Mr. Nishit Thacker, Director, Thacker Dairy

Mr. Shourya Mandal, National President, IACC presenting memento to Mr. Dean Thompson, US Consul General- Kolkata

Mr. Dean Thompson, addressing the audience

Mr. H.P Budhia Chairman Patton International Mr. Shourya Mandal National president, IACC, Mr. Dean Thompson , US Consul General, Mr. S.D Mookerjea regional President, IACC, Dr. Krishna Gupta IAS, Managing Director WBIDC & Mr. Nishit Thacker,

Director Thacker Dairy

South India Council Tamil Nadu Branch

Workshop on American-Cross Cultural Skills on July 25, 2013 at Chennai

A one day "Workshop on American-Cross Cultural Skills" was conducted by Indo-American Chamber of Commerce (TN) in Chennai. The training was conducted by Mr. Vikas Vinaychandran from MMM Training Solutions. The session was highly informative, interactive and useful in developing professional relationship with their clients in the U.S.

Participants with the Trainer Delegates along with the Trainer and IACC Officials.

Tour of U.S. Visa Processing Centres on July 12, 2013 in Chennai IACC (TN) organized Tour of ‘U.S. Visa Centers' for the benefit of Members. The objective is to walkthrough the actual U.S. process & procedures while applying U.S. visas. It also provided an opportunity for the representatives to interact with the visa officers and clarify their queries.

Bangalore Branch

Seminar on the ‘Madrid System of International Registration of Trade Marks’ Indo American Chamber of Commerce organized a successful seminar on “The Madrid System of International Registration of Trade Marks” at the Club Lounge, Select J.P. Cosmos, Off Cunningham Road, Bangalore on July 26, 2013. The session was well received and attended by participants of known organizations like ABB India, Hinduja Global Solutions Limited, Philips Intellectual Property & Standards, United Estates Group, White Forest Law Offices to name a few. Informative interaction among business leaders took place over the breakfast.

Dr. Sudhir Ravindran, Attorney, Solicitor (England & Wales), Altacit Global addressing the audience

Dr. Sudhir Ravindran, Attorney, Solicitor (England & Wales), Altacit Global presented the Madrid system for the

international registration.

Through this seminar, Dr. Ravindran made the people aware that the Madrid system for the international registration of

marks is administered by the International Bureau of WIPO located in Geneva, Switzerland and it offers a trademark

owner the possibility to have his/ her trademark protected in several countries by simply filing one application directly

with his own national or regional trademark office. He also informed the participants that Madrid system of

International Registration is single window provided by WIPO (International Body- World Intellectual Property

Organization) under which a single Trademark Application may be filed seeking trademark protection in more than one

Country. Earlier India was not a member of Madrid system. Since July 08, 2013, India has acceded to the same giving the

Indian Applicants the opportunity to claim trademark protection in various countries including USA by filing one single

International Application in India. This not only reduces the cost of filing but also makes the management of Trademarks

easier across the world.

The speaker briefed the audience that an international mark registered is equivalent to an application or a registration

of the same mark effected directly in each of the countries designated by the applicant. The Madrid system also

simplifies greatly the subsequent management of the mark, since it is possible to record subsequent changes or to

renew the registration through a single procedural step. He highlighted the role of the Office of Origin and WIPO

International Bureau, how to file International Applications and the Role of the Office of Origin and management and

maintenance of the International Registration.

Dr. Sudhir Ravindran has had varied specialized education in IP from World Intellectual Property Organization (WIPO),

Geneva, NALSAR University, India, IIM Lucknow and IIM Ahmedabad. He has also successfully completed the Intellectual

Property Specialization Program jointly offered by the University of South Africa (UNISA), South Africa & WIPO and

received fellowship for the JPO/ IPR Training Course for Patent Experts conducted by the Japan Patent Office and Japan

Institute of Invention and Innovation. He is a representative of ICC India in the Commission on Intellectual Property of

ICC, Paris, France and an Individual Observer of the Intellectual Property Constituency of ICANN. He is a regular speaker,

guest lecturer in several universities, national and international conferences. He was awarded a Doctorate (PhD) in

Intellectual Property Risk Management by NALSAR University. He is currently pursuing his post-doctoral research (LLD)

from the Andhra Pradesh University of Law.

The audience’s queries at Q&A session were well answered by Dr. Sudhir Ravindran. He was very open to hearing the

concerns and questions of the audience and answering to their each question. Mr. Kanti Mohan Rustagi, Executive Vice

President – Legal of Hinduja Global Solutions Limited presented bouquet to Dr. Ravindran.

Audience during the seminar

The event provided a good opportunity for the IACC members to meet and get informative inputs from the speaker. The

positive feedback from speakers and attendees gave a proof to the real success of the event.

Funding Bio Innovation on July 05, 2013 at Chancery Pavilion, Bangalore With a view to bring funding and bio fraternities together on a single platform, to enable interaction and to create networking opportunities, and also to move to the next step by ‘connecting’ through a Virtual Help Desk, Indo American Chamber of Commerce, organized an event, themed on – ‘Funding Bio Innovation’, at the Chancery Pavilion, on July 05, 2013. In his welcome note, to the over 150 Industries that participated in the event, Mr. Srinivasan, Chairman of IACC (Karnataka Chapter), mentioned that the whole reason behind theming the event – ‘Funding Bio Innovation’, was to encourage bigger participation of the funding community in the Bio sector, in order to enable companies in this space scale up and move into the tremendous opportunities that can be tapped into, between India and the US. The reason why, he said, that the Chamber took up Bio as one of its focus verticals. He also thanked the Principal Secretary of IT BT & ST in Karnataka – Mr. ISN Prasad, for coming forward to sponsor the entire event, on behalf of the Govt. of Karnataka. He mentioned that this was an indicator to how seriously he was inclined to promote Biotech, towards his vision of achieving 25 billion by 2020.

Mr. Srinivasan announced that IACC is going to set up Business Accelerators – BA (in this particular case, the Bio Accelerator) to facilitate their members. He informed the audience about the same, which he said, was an endeavor to create 360 degree facilitation, across all facets of Industry – be it, marketing, funding, JVs, scaling up et al. Going one step forward, the idea is, to set up an Innovation Club, where members could post Business queries on matters pertaining to ‘achievement bottlenecks’ to their business visions and so on, which will be brainstormed by a student and Industry panel separately, before coming on to a discussion platform of possible ‘out of the box’ solutions. BA will have mentors and leaders from industry and various other groups being a part of it. The event is just the beginning of a slew of measures that IACC has in its agenda, to help catalyze the growth Life Sciences sector in Karnataka. He also mentioned that this entire initiative is being led by Mr. Munirathnam Javaji, Director of Assystem India Pvt Ltd and Managing Committee member of IACC, Karnataka, with the able support and guidance of Mr. Prahalad Achutharao, MD of Interpretomics, who drives the Bio initiative, as a member of the Managing Committee.

Mr. Srinivasan, Chairman of IACC (Karnataka Chapter) welcoming the guests

The event was well received and attended by 200 participants of known organizations like Biocon, GE Healthcare Life Sciences India, InnAccel, Bigtec Private Ltd, Deloitte Touche Tohmatsu India Pvt. Ltd, IBM Growth Markets, Columbia Asia Hospitals, Peepul Capital, Robert Bosch Centre for Cyber Physical Systems, Fortis Healthcare, Kitven Funds, Pall India, PESIT College, SBI Capital Markets Ltd, Strand Life Sciences, to name a few. Dr. Anand Iyer, CEO, Agila Biotech P Ltd– a Strides Enterprise delivered the Keynote address. In his talk, he dispelled some of the popular misconceptions about biotech that has hindered biotech funding – ‘Returns in Life Sciences invesements lag investment into other sectors’; ‘When biotech deals blow-up, they blow-up big’; ‘Biotech takes far longer from inception to “exit” than other sectors’ and so on. He also felt that the overall Biotech venture capital funding environment was drying up, while early stage funding being even worse. He spoke of why, as per him, India was not so innovative; while outlining measures needed to boost the sector, which is among the rapidly growing sectors in the world today.

Dr. Anand Iyer, CEO, Agila Biotech P Ltd addressing the keynote

The event moved on to next session on ‘Funding research and innovation in Genomics, Biotechnology and Biology’, a talk by Dr. Haja Kadarmideen, Professor & Group Leader- Quantitative Genetics & Systems Biology, University of Copenhagen. Dr. Haja started his session with a brief intro to Examples projects with R & I partnership in Denmark. He gave an overview of global funding scenario for genomic, biotechnological and biological sciences. Dr. Haja explained the mechanisms of Funding bio- research & innovation within Denmark. His session also focused on ‘who gives funding for bio-innovation’ for eg. in the public / government sector, most research funding is derived from taxpayer support, research funding in the United States is distributed by Congress, whose Members are accountable to citizens and constituents, research funding in the European Union is distributed by the European Commission (EC), under European Parliament, EC provides support for innovation through a series of initiatives and actions aimed at providing financial support to innovators, as well as better innovation support services for SMEs and notably start-ups.

Dr. Haja Kadarmideen, Professor at University of Copenhagen briefing the audience on ‘Funding research and innovation in

Genomics, Biotechnology and Biology’

The next session was by Dr. Asoke K Talukder, Co-Founder & CSO, InterpretOmics India Pvt. Ltd, who gave his views on ‘Venture from Adventure’. In this session, Dr. Talukder made the people aware of 4 grand social challenges i.e. food security, health security, energy security, environmental security. With the help of a wonderful diagram, Dr. Talukder explained the facts of the adventure to venture. With the conclusion of his session, he gave a brief introduction of his company, InterpretOmics India Pvt. Ltd.

Dr. Asoke K Talukder, Co-Founder & CSO, InterpretOmics India Pvt Ltd giving his insights on ‘Venture from Adventure’

The event then moved on to the much awaited Panel Discussion, comprising eminent panelists – Dr. Sudhir Nambiar, MD of Astra Zeneca; Dr. Mohammed Oufattole, MD of Monsanto; Dr. Pradip Majumdar, MD of Mitra Biotech; Mr. Daniel Anand, Partner of Accel Ventures and Mr. Samir Kumar, MD of Inventus Capital. Dr. Anand Anadkumar, CEO of Cellworks Research India Pvt. Ltd, moderated this engaging Panel Discussion lasting an hour. Dr. Anand kumar started the panel discussion with a brief intro of all the panelists. He initiated the panel by saying that Biotech is the most exciting sector to be in where we can fuel the world through bio-fuels, feed the world through agro-biotech and heal the world through bio-pharmaceuticals. Biotech, he mentioned, was a great area to be in, but unfortunately struggling in our country, at this point in time. He went on, to mention that the five fundamentals reasons for such state of affairs were – funding, funding, funding, regulation and ecosystem. Dr. Anand opened the panel discussion with Dr. Mohammed Oufattole, requesting him to talk about agro-biotech, the current goings on in India, the opportunities and challenges, and if agro-biotech was really a fundable proposition. Dr. Oufattole started his response by wanting to discuss the past, before even talking about the future. He said, “50 years ago i.e. in 1960, there were 3 billion of us on the earth but today we are seven billion plus that’s more than a double in this 50 years. Therefore, if we don’t think anything towards agro-biotech today then it will definitely be in a bad shape. Agro-biotech engineering has the potential to increase the yield on same part of land; has the potential, not only to increase the yield in itself but also to increase the protection of yield from all the losses and cure from the diseases, pests. Some estimates actually are that over 40% of food gets lost before it ends up at our table”. He also added that the challenges in Indian context are related to two things i.e. lack of transparency in the regulatory system and the complexity of the regulatory system which results to take many years in getting through the hurdles of the regulatory system. Dr. Anand next requested Dr. Sudhir Nambiar to give his view with respect to pharmaceutical companies. Dr. Sudhir gave his perspective about what biotech has done for the pharmaceutical market globally and in India. Total market for pharmaceuticals globally, he said, was about trillion dollars, and that it was a big game. The major problem in India, as per him, was – lack of innovation in pharma companies. India, he said, carries about 22% disease burden, and yet not having significant number of Indian companies working on such Indian diseases, simply because they thought that there was no money there. The next question of Dr. Anand was to Mr. Daniel Anand about his journey with respect to the investments, he had made, the reasons for making it, and how he saw the road looking forward. Mr. Daniel mentioned that healthcare was the broader area where his company invested. He told the audience about the areas within healthcare, where Accel Ventures focused the most and the reasons for focusing in that area; which, in fact, clarified some of the points raised earlier about investing in the bio sector, in a broader sense. He also went on to mention that, Accel Ventures broke down Healthcare, into Biotech, Lifesciences, Devices, Diagnostics, Personalized Medicines, Healthcare IT, and finally the

delivery aspect of it. He said that he was personally optimistic that, while in India there were only a few investors currently, that there would be more investors from the US and there upon from India as well, to invest in this sector. Dr. Pradip Majumdar gave his insights on the question asked by Dr. Anand as to how his company got funded, the challenges they faced and the kind of advice he would give to someone looking for funding. Dr. Pradip spoke about innovation, and also stressed on the need to build the ecosystems, that could be supported by the VCs, which could trigger the change one was looking for. Dr. Anand requested Mr. Samir Kumar to share his thoughts on what the good general principles were that hold water across verticals and also what the prognosis was for funding in life-sciences. Mr. Samir Kumar enlightened the audience about Investors looking more at how money could be made, rather than purely looking at innovation. For investors, he mentioned that innovation perhaps would be a proxy for being able to get that five, six or ten times Return that they seek, while that being not the only proxy that they seek. Mr. Samir said, “Uncertainty is a huge enemy for all Investors including VCs but we live in a very uncertain environment when we invest. To bring some stability, to bring an anchor to the ship of our investment or our portfolio company, we look for a stellar entrepreneurial team and then we look for the background, the competency, high integrity, attitude of sharing, openness, passion, dedication, the commitment and we also look for a large market and our ability to exit”.

Panelists: Dr. Sudhir Nambiar, MD of Astra Zeneca; Dr. Mohammed Oufattole, MD of Monsanto; Dr. Pradip Majumdar, MD of Mitra

Biotech; Mr. Daniel Anand, Partner of Accel Ventures and Mr. Samir Kumar, MD of Inventus Capital & Moderator: Dr. Anand Anadkumar, CEO of Cellworks Research India Pvt Ltd

The panelists gave their views on the reasons for paucity of fund flow into the Bio sector and steps to increase funding interest in this segment. The panel discussion saw a lot of interaction from the audience, who were quite keen to know the various aspects with respect to the funding in the bio space. The intent of a Bio Accelerator, Mr. Prahalad Achutharao, CEO of Interpretomics India Pvt Ltd, who drives the Bio initiative for IACC, said, ebbed out of these discussions; and moving forward, he said that they would be incorporating several of the views that were presented in this event, in their Accelerator model. Mr. Rabindra Srikantan, MD of ASM Technologies Ltd and Sr. Vice Chairman of IACC- Karnataka Branch delivered vote of thanks.

The event provided a good opportunity for the IACC members to meet and get informative inputs from the speakers. ASM Technologies Ltd. organized a raffle with prize of Samsung Tablet, for which the winners were Dr. Shama Bhat, Founder & CMD of Bhat Bio-tech India Pvt Ltd and Mr. Amit Dasgupta, President of Kaalp Consultants. Mr. V Srinivasan, Chairman of IACC Karnataka Branch, Mr. Munirathnam Javaji, IACC Karnataka Branch Committee Member and Mr. Vasanth Kini, National Executive Council Member of IACC presented bouquets and mementoes to the speakers. The event was extremely well attended by both – the Bio and the Funding communities. The guests enjoyed every bit of the event, and one could visibly see its effect through the networking and discussions that were happening during dinner and beyond.

Guests Networking during the Dinner

Trade Opportunities at IACC Trade Opportunity from USA

Sr. No. Business Interest of the Company Contact details

1. A USA based manufacturer and supplier of automotive OEM sealants and adhesives is seeking an India based partnership in order to rapidly expand its global footprint. This company is a leading supplier to direct OEMs in North America, as well as to Tier I automotive customers. Their extensive portfolio of globally approved products is supplied to automotive assembly plants in Body Shop, Paint Shop and Trim. Company is seeking an India based strategic partnership with contacts in the Indian automotive industry. Established contacts at Assembly, Purchasing and Engineering levels are preferred. Equipment, design, technical and Research & Development support to be provided. Prospective partner should possess general chemical processing capabilities within a complementary or non-competing product line.

Ms. Sujatha Ravishanker Branch Secretary, IACC Tel: 044-24310506 [email protected] ; [email protected]

Trade Opportunities from India Sr. No. Business Interest of the Company Contact details

1. A leading company is looking for the importers of agro commodities who are specifically interested in importing commodities like guargum since the United states of America is the biggest market for this product and India is the biggest supplier for the same.

Also they are looking for the importers from USA for the gherkins and organic soyabeans

Ms. Trupti Pawar Dy. Director, IACC Tel: 022-22821413 [email protected]; [email protected]

2. A leading engineering company is interested in collaboration with US Companies for manufacturing following equipments:

Pipe Conveyors

Stackers Reclaimers

Ship Loading / Unloading Machinery

Pneumatic Conveying System including fly ash handling system

Crushers and Screens.


mailto:[email protected]






3. The World class Hospital in India, is in the process of completing the validation activities of the first of phase of their project, the Bioscience Park. The Bioscience Park consists of an Academic Block, Research & Development Labs, Pre-clinical testing facilities, Convention Centre and an International Cardiac Pathology Museum.

The Pre-clinical testing facility will cater to the testing needs of various industries such as Pharmaceutical, Medical device, Agrochemical and Chemical industries. The laboratory facilities include State- of- the-art- animal breeding facility, Animal testing rooms – laboratory animals & canine, Inhalation exposure facility, Analytical and wet chemistry laboratory, Clinical chemistry laboratory, Genetic toxicology laboratory, Ecotoxicology laboratory, Small animal surgery suite, Large animal surgery suite, Mechanical testing and Microbiology. They are looking for reputed agencies for the supply of quality instruments for their above mentioned laboratories.


4. A leading Indian Business House, which has been manufacturing and exporting Popadoms [Ready to Eat lentil snacks] to UK and Australia for over 30 years, is looking for an Alliance to launch this snack in the USA. This All Natural, Gluten Free, Protein rich tasty snack is manufactured with the highest quality certifications and is being sold under all leading Brands and Supermarket labels in UK. The product is FDA approved and market sampling in the US was well received with strong consumer desire for the product. The US Associate should be willing to launch the product in its own Brand and also to fry, pack and distribute. The product is a great fit for any Snack Brand and a natural extension for a Potato chip Brand as it shares similar infrastructure to process. The Association can extend to explore newer markets across the Pacific and offers investment opportunities into India which is just ripe for the RTE Popadom






5. A leading metal company is looking for a USA partner in the field like sheet metal based mechanical / electromechanical assemblies either with an automotive OEM or an OEM partner in other field requiring / manufacturing high volume similar mechanical / electromechanical assemblies .


6. A leading member company is interested in collaboration with US Companies for manufacturing and exporting of Aluminium Or Brass Sand CASTINGS Parts. Also interested designing different machines, finishes & specifications as per requirements.

Their associate company is interested in exporting Chicory a food product, which is a blending ingredient in Coffee / Feed / Medicines.


7. A member company is interested in tying up for midscale business hotel as their land is on main road from city to the Int'l Airport, where they propose to build a Hotel in the front and Residential Apartments at the back They are looking for an appropriate partner for the Hotel portion of the project.








US investments in India New York based Blackstone picks up 97.9% in Agile Electric for Rs 600 crore

Blackstone Group has acquired a 97.9 per cent stake in Chennai-based Agile Electric Sub Assembly Pvt. Ltd for about Rs 600 crore. Following the deal, the US-based private equity investor will also control a 58 per cent stake in Igarashi Motors India, a listed subsidiary of Agile Electric. Blackstone and other investors will have to make an open offer to Igarashi shareholders. According to a BSE notification by Igarashi, Agile Electric and certain shareholders of Agile have entered into agreements with investors Blackstone Capital Partners and Blackstone Family Investment Partnership (Cayman). Agile Electric is a manufacturer of building machinery, assembly lines and industrial feeders for the automotive industry. Igarashi Motors was originally a Japanese auto components company before it exited the country. It is currently a subsidiary of Agile Electric and specializes in design and manufacture of DC motors and gear motors. Copyright © Kasturi & Sons Ltd, All Rights Reserved.

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India’s Investments in U.S

RIL to invest $5.1 bn in US shale gas biz Reliance Industries Ltd (RIL) will invest $5.1 billion (Rs. 30,290 crore) in the next three years in its US shale gas business, taking the total investment in the business to $10.8 billion. The Mukesh Ambani-promoted conglomerate acquired shale gas assets in the US in 2010 for $3.45 billion and has invested $5.7 billion in shale gas joint ventures till the June 2013 quarter. Shale gas is natural gas found trapped within shale formations. “RIL has emerged as a serious shale gas player. We expect RIL to spend another $5.1 billion during calendar years 2013-2016 and the joint ventures will drill 3,846 wells during the life of the project against 514 drilled till 2012-end,” said Niraj Mansingka and Kiran Tulasi of Edelweiss Securities in a report. The company, which reported its June quarter earnings last week, posted an 84 per cent rise in revenue from its shale gas venture in the US on rising production. RIL’s shale gas business in the US comprises three upstream joint ventures with Chevron Corp, Pioneer Natural Resources and Carrizo Oil and Gas Inc, and a midstream joint venture with Pioneer. RIL holds a 40 per cent stake in Atlas Energy; 45 per cent in Pioneer Natural Resources and 60 per cent in Carrizo Oil. It also holds a 49.9 per cent stake in its midstream project with Pioneer. The Mumbai-based company has invested in these ventures through its subsidiary, Reliance Holdings USA. While low natural gas prices post acquisition has dented RIL’s business returns, higher earnings from liquid-rich assets and enhanced capital expenditure efficiency have offset most of the impact, Edelweiss added in its report released after the company announced its results. “RIL is pursuing a high leverage strategy to enhance equity returns in the shale business.” RIL expects shale gas to contribute 8-10 per cent to consolidated earnings before interest, tax, depreciation and amortization in 2014-15. On the domestic front, the company has told analysts it will commence development on coalbed methane (CBM) blocks and the R-series in the eastern offshore KG Basin block after a final approval on the gas price hike. Though the government has decided to adopt the Rangarajan committee proposal on raising the gas price, companies like RIL are waiting for an official notification on the matter. Indicative pricing has suggested that domestic gas could rise to around $8.4-8.5 a unit with the new mechanism from the current $4.2 unit now. Batlivala and Karani in their report said RIL expected approval for the R-series to come in three week. “With the satellite field approval already in place, the company plans to commence the development post the final approval on gas price hike. Production from CBM is expected to peak at 5-7 million standard cubic metres per day and will take three years from commencement but will be taken up only after the gas price hike.”

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OnMobile completes $17.8-m Livewire deal Bangalore-based value-added services company OnMobile Global Ltd, which had entered into an agreement to acquire the business assets of Boston-based mobile entertainment firm Livewire Mobile for $17.8 million (around Rs 105 crore), has closed the transaction.

Livewire Mobile’s portfolio of mobile music and gaming solutions and its client base, including Sprint, US Cellular and Cricket, will combine with OnMobile’s American customer base, including AT&T, T-Mobile and Rogers, to establish a footprint at six of the top ten mobile operators in North America. The new combined entity presents a single source solution for integrated value added services (VAS) that will cater to high value subscriber segments, including youth and upwardly mobile professionals. With global mobile operators struggling to monetize mobile data beyond core data plans, the going would not be easy for the company, given the aggressive competition in the market. However, Harry Wang, lead mobile analyst from international market research firm, Parks Associates, said that the mobile VAS market represents an attractive opportunity for operators, who need to find an efficient means to aggregate, package, distribute, and manage content and services in order to create a differentiated user experience. Onmobile Global Ltd is a B2B digital VAS provider, providing mobile entertainment services for top telecom operators in Asia, Africa and Europe. Copyright © Kasturi & Sons Ltd, All Rights Reserved.

Birla plans to invest $1 bn in US chemical plant Cheap gas prices & reviving sentiments there make the group look West

Kumar Mangalam Birla, Chairman, Aditya Birla Group

The Aditya Birla group is planning to invest $1 billion (about Rs 6,000 crore) in setting up a chemical/fertiliser plant in the US to take advantage of the falling gas prices in that country. Another reason for the big-ticket investment plan was a reviving business sentiment there, a top official said. "We have been looking at an investment in the US, as there is enough and cheap gas - priced at $3-3.50 a unit. So, like a lot of Indian chemical companies, we are looking at the country for investment in the next few months," said Aditya Birla Nuvo Managing Director Rakesh Jain. He added, depending on its due-diligence report, the group would make the investment either in a greenfield (new) plant or through an acquisition. A team was already camping in the US to scout for opportunities. As of now, foreign markets account for nearly half of the group's $40-billion turnover, which it aims to increase to $65 billion by 2016. The group has a significant presence in India's fertilizer space through Indo Gulf Fertilizer but it has to depend on government subsidy to make money. Amid a slowdown, subsidy payouts to fertilizer companies had delayed considerably. Hence, the look West policy, Jain said. He added Chairman Kumar Mangalam Birla had made it clear the group would not depend on the government for any subsidy or dole-outs and would like to compete with companies across the world on its own. "By investing in the US, our

goal is to de-risk our businesses and take advantage of the global opportunities. With the US economy reviving very fast - on the back of (President Barack) Obama's policies, this is the right time to invest in the US," he said. Jain, who has spent 20 years of his professional life in the US, said $1 billion was typical of the investment the group made in a greenfield plant. Another group company, Novelis, is also planning to invest $1 billion in expanding its capacity, mainly in Latin America. The group expects, Novelis would from 2016 start generating cash surplus of close to $500 million a year and help its parent, Hindalco, meet its financial needs. With its latest plan, Birla has joined a host of Indian companies investing in the North American markets for want of opportunities in India - and amid high interest rates and a slowdown here. Besides, the cost of gas price in the country is set to double, making investments in new power and chemical plants unviable. In June this year, Apollo Tyres had announced it would invest $2.5 billion in acquiring US-based Cooper Tires. Similarly, Chairman Mukesh Ambani had recently said, with an investment of $5.7 billion as of March, Reliance Industries was the largest investor in the American shale gas space. Copyright © Business Standard Ltd., All Rights Reserved

Indo-US Corporate News Cadbury India to invest Rs 1,000 cr in AP plant

Cadbury India, part of Mondelçz International, plans to invest more than Rs 1,000 crore in the first phase of a manufacturing plant in Sri City, Andhra Pradesh. The company has signed an agreement with Sri City to take on lease 134 acres of land for the proposed facility. The first phase is expected to be completed by mid-2015. The project will be developed in four phases and is scheduled for final completion by 2020. Largest Asian plant The multi-category food campus will be the largest chocolate manufacturing plant in India and the largest Mondelçz manufacturing facility in the Asia Pacific. The facility is expected to create close to 1,600 direct jobs by 2020. Once completed, this project will set examples in production efficiency, energy saving, emission reduction and community involvement. Anand Kripalu, President, India and South Asia, Mondelçz International, said India was a priority emerging market for the company.

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Lupin acquires US rights to market anti-diarrhoeal drug, Q1 net up 43 percent. Indian drug-maker Lupin recently announced it has signed a strategic licensing agreement with US pharmaceutical company Romark Laboratories under which the company gets exclusive rights to promote, distribute and market Alinia for oral suspension in the US market. Alinia (nitazoxanide) is used for the treatment of diarrhoea caused by Cryptosporidium and Giardia, in patients one year of age and older, and is approved by the US Food and Drug Administration, Lupin said. Cryptosporidium and Giardia are the two most common protozoal causes of diarrhoea in the developed and developing world. "The agreement demonstrates Lupin's commitment to grow its brand franchise in the US," Vinita Gupta, CEO, Lupin Pharmaceuticals Inc., Lupin's US subsidiary "Our sales and marketing efforts will commence immediately and we are optimistic that Alinia will contribute to our growth and profitability in the coming quarters and years," she added. Meanwhile, Lupin's released its first quarter (April-June) results showing net profit growing 43 percent year-on-year to Rs.401 crore, but revenues rose lower-than-expected 10 percent on yearly basis to Rs.2,476 crore. Domestic revenues declined to Rs.675.53 crore during the quarter from Rs.681.53 crore in corresponding quarter of last fiscal, but its revenues from international business grew by 14.5 percent Y-o-Y to Rs.1,800.45 crore. Managing director Kamal K Sharma said: "We have had a good quarter fuelled by strong business performance in the US as well as improved operational efficiencies that have led to stronger margins." The company's US revenues grew 54 percent year-on-year to Rs.36, 830 crore during the financial year ended March 2013. Copyright © Daily News and Analysis: Diligent Media Corporation, All rights reserved.


Ford's project B562 to make India a compact car global production base

US carmaker Ford Motor Company is making India as a compact car global production base once its Sanand plant in Gujarat comes on stream in 2014, under a project codenamed B562 that may spawn three different compact cars from the same platform. ET learns the move is part of Ford's larger global production restructuring plan which places greater responsibility on India versus its other base in Europe and across the world. Four people close to the development told ET, a project codenamed B562 is currently under development.

A small hatchback, a sub-4 meter sedan and a midsize compact sedan are being considered to be rolled out over the next two three years.

The development work of hatchback and mid-size compact sedan is gathering speed, however sub-4 metre sedan is still at a consideration stage, said people in the know of the development.

Underlining the growing significance of India as a base Alan Mulally, Global CEO of Ford Motor Company in a recent media interaction in India said, "The demand is dramatically down for cars in Europe, like it was in United States. So we are moving production, consolidating our facilities, but at the same time, we are accelerating the new vehicles. Customers want value, so it is going to take us a couple of years to finish that restructuring; we are doing the right thing for the customers and right thing for Ford,"

The hatchback may be placed alongside the existing Figo, the sub-4 metre sedan if given a go ahead will take on Maruti Suzuki Dzire and Honda Amaze and the mid-size compact sedan will replace Fiesta classic. Globally the hatchback is expected to replace the Ka small car, people close to the company told.

"The company plans to produce over 2,00,000 cars on B562 platform by 2015-16 and over 30-50% is planned to be exported to the overseas markets over a period of time. The company tested the overseas markets with Figo, they now plan to aggressively expand exports with the EcoSport and with the B562 cars, the company intends to make the best use of its competitive production base in India," said one of the four people cited above on condition on anonymity. When contacted, Ford India's spokesperson said, "We would not speculate about our future product strategy and business operations. Ford India's product-led transformation continues with the introduction of the EcoSport and currently we have a laser sharp focus to deliver it for our customers."

While the company terms EcoSport as a game changer, people involved with the company believe, the B562 is a even bigger deal. "The cars are being developed with an aim of garnering profits quicker than some of the earlier projects. In

terms of volumes, the platform will deliver largest volumes for Ford India going ahead and is expected to come with a localisation level of over 90%."

According to V G Ramakrishnan, MD, Frost & Sullivan, South Asia, a big exports push helps Ford in not only getting the pricing right for the domestic market like it did with EcoSport, but it helps the company democratize some of the high end technology at affordable price. "With the stringent implementation of transfer pricing, Ford's Indian operation will be exporting vehicles for a decent profit. With the higher exports, the balance sheet will get a boost and whatever losses the company has incurred, it will be able recoup it faster. Also, the European customers are generally more discerning than Indian buyers, a European specked car for the Indian buyers would help Ford move up the ladders in sales and customers perception," added Ramakrishnan.

Ford India which saw its passenger vehicle market share inching up to 4% post the Figo launch in 2010, could not sustain the momentum over the last couple of years. The market share has now slid below 3%, with the introduction of EcoSport, the production (domestic plus export) may get a further boost of 50,000 to 70,000 this year, and the domestic market share too will increase.

While the development work on B562 may be gathering pace, but the company's plans of launching 8 new products by the middle of 2020 is surely going to be missed. EcoSport is just the second of 8 new products lined up by the company.

"India is a very dynamic market and the pace of introduction of our new products has to consider market dynamics and evolving consumer demands. Our long-term commitment to the India market remains unchanged and our on-going investments in our facilities in Tamil Nadu and Gujarat continue as planned,'' added the Ford India's spokesperson.

Ford officials recently said that they intend to have 12-13 different top hats on the B platform and on that platform it aims to sell 2 million vehicles worldwide over time.

"This is the reason why Ford can move so decisively to offer products to consumers which are affordable, because we have the scale and the volumes, and we tailor the vehicle with the different tastes around the world. So it is absolutely key point of the Ford's strategy going ahead," Mulally said at the same media interaction.

Stressing on delivering multiple body styles on B platform, Dave Schoch, president of Ford Asia Pacific, Ford Motor Company added, "What we are looking to do is take the segmentation, let’s take the B segment, well there are a lot of different customers in there, they go from high end to the low end, and our objective is now to see to improve our market coverage in terms of what customers want, within that, by offering them different powertrain combination, different technologies, depending on where you are and different top hats, OK. Four door, five doors, pick-ups, SUVs, so that is what we are concentrating on."


Texas based Fossil may set up first single-brand retail store in Bangalore The US-based watch and accessories maker Fossil Inc. is gearing up to set up its first single-brand retail store in India in Bangalore in the next few months. Fossil is among the first batch of global brands that recently got cleared by the Foreign Investment Promotion Board for setting up single-brand retail stores after the Government raised the FDI limit for such retail to 100 per cent. The other brands that had put in their proposals included the UK-based footwear firm Pavers England, Swedish furniture retailer Ikea, American luxury brand Brooks Brothers and Italian jewellery maker Damiani. “We are currently working on our first flagship store that is mostly likely to come up in Bangalore. We will be following this up with another three stores, probably in Delhi, Mumbai and Hyderabad about 12 months from now,” Gautam Kapur, National Sales Head, Fossils India, told Business Line here.

Without disclosing the investment that would go into these stores, he said each of these would have a minimum carpet area of 1000 sq.ft. and would be located either in a mall or a suitable location on the high street. The company has submitted a proposal to invest about $4.5 million in the initial phase to set up its single-brand retail stores. “After consolidating our first set of stores, we plan to put in place a chain of 15 stores in the next five years,” Kapur said.

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Natco ready to launch generic Copaxone in US Launch, however, subject to approval of US Food and Drug Administration

Hyderabad-based drug maker Natco Pharma said a US court of appeals for the federal circuit ruling had paved the way for it to launch the generic Copaxone through its marketing partner Mylan during May 2014. The launch is, however, subject to the approval of the US Food and Drug Administration. Natco said in Hyderabad on Saturday the US court had reversed a district court’s finding related to Teva’s US patent for Copaxone. This means it may launch generic version of the drug. Copaxone (glatiramer acetate) is used in the treatment of relapsing-remitting multiple sclerosis. The product is estimated to have had sales in the US of $3.45 billion during 2012.

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Lupin expects to launch 20 products in US next fiscal Company has 26 first-to-file opportunities in US market out of which 12 are exclusive opportunities, says Lupin Group President

Vinita Gupta

"In the US, we have multiple new product launches planned; we should have 15-20 product launches subject to US Food and Drug Administration (USFDA) approval in the next fiscal year," Lupin Group President and CEO Designate Vinita Gupta told PTI. Gupta, who is also the CEO of Lupin's US-based subsidiary--Lupin Pharmaceuticals Inc, said the company has 26 first-to-file opportunities in the US market out of which 12 are exclusive opportunities, most of which are yet to be launched. The Mumbai-based firm's cumulative abbreviated new drug applications (ANDA) filings with the USFDA, as of March 31, 2013, stood at 176 with the company having received 78 approvals to date. As part of its plans to achieve faster growth in the US market, the Rs 9600-crore company has been focusing on less competitive segments including oral contraceptives (OCs) and ophthalmology. "A less competed for space, OCs are a very niche segment and requires a high level of R&D expertise, active pharmaceutical ingredients (API) strengths and manufacturing competencies," Gupta said. As per industry sources, the oral contraceptive market in the US is valued at around $5 billion and growing at around 10% annually. "This is a segment where it makes sense to have a complete basket of products so that one can drive serious value into the market and Lupin would be one of the few innovators to drive it in," Gupta said. Lupin's current ANDA filings for OCs stand at 32. "We are similarly targeting the ophthalmology and dermatological and building a similar pipeline for these segments. Lupin has already done over 10-12 filings with the USFDA for ophthalmological products," Gupta added.


Hero Moto to set up factories in US, Latin America Hero MotoCorp is set to open factories in North and Latin America, the first instance of the Indian two-wheeler major looking at starting full-fledged manufacturing abroad. The company, controlled by the Munjal family, was earlier prohibited from making overseas investments as part of the joint venture agreement with erstwhile partner Honda. But the divorce with Honda in 2011 has seen the company take gradual steps towards generating a substantial portion of sales from exports, which is now prompting it to look at setting up factories abroad. "While so far we have set up CKD (completely-knocked down) assembly units in some markets, now we are looking for a very big role in at least three countries. These are Brazil and Colombia in LatAm and Mexico in North America," Pawan Munjal, MD & CEO of Hero MotoCorp told TOI. Munjal said the three countries will have full-fledged manufacturing operations where the company will make two-wheelers not only for the respective markets, but also for neighboring countries. "These will be like manufacturing hubs catering to various regions. The unit in Colombia is expected to come up by the middle of 2014, while the other two will happen a little later. We are doing the home-work for these markets." The size of the two-wheeler market in Brazil is around 15 lakh units, while Colombia is 6 lakh units. Mexico is relatively smaller at 2.2 lakh units. Exports currently form a very small portion of Hero Moto's sales, though Munjal has ambitious plans as he looks at a bigger play in various regions. "Our long-term target is to get at least 10% of our sales from overseas markets."

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Strides Arcolab gets USFDA nod for anti-AIDS combination drug Drug firm Strides Arcolab today said it has received tentative approval from the US health regulator for anti-AIDS combination drug. The company has received the approval from the United States Food and Drug Administration for its abbreviated new drug application (ANDA) for Tenofovir Disoproxil Fumarate and Emtricitabine tablets in the strengths of 300 mg and 200 mg, Strides Arcolab said. "The company is one among the 6 generics company to have received the USFDA approval. This ANDA has been reviewed under the expedited provisions of the President's Emergency Plan for AIDS relief (PEPFAR)," it added. The company supplies ARV products to global procurement agencies and this approval adds to the overall baskets of medicines available, Strides Arcolab said. The drug is generic equivalent to Gilead Sciences Inc's Truvada tablets and is indicated in combination with other anti-retroviral agents for treatment of HIV-1 infections in adults, it added. The company has 14 manufacturing facilities across 6 countries with presence in more than 75 countries in developed and emerging markets.

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Ashwagandha gets US patent for vaccine adjuvant A group of researchers from Pune University and Serum Institute have received a patent on the use of Ashwagandha as a vaccine adjuvant, or component that helps improve its efficacy. A medicinal herb, Ashwagandha is also referred to as Indian Gensing. In a project supported by the Department of Science and Technology, the research was part of a project to develop “botanical immunomodulators” as adjuvants to improve vaccine efficacy, said a researcher from Serum.

In the past, the industry used aluminium salts as an adjuvant, but as newer vaccines are developed, industry is also looking for alternatives, he added. In fact, the finding would be used in new vaccines such as the pentavalent vaccine targeting meningitis, or those against dengue and pneumococcal diseases, said Serum Executive Director Suresh Jadhav. About nine herbs were studied, before research found the required property in ashwagandha (Withania somnifera) and more work was done to understand in what ratio it could be used in a vaccine, a researcher said. Unlike earlier instances where companies tried to patent turmeric, for example, the researcher clarified, the patent here was in an area not claimed by Ayurveda. VACCINE APPLICATIONS Further, he said that all known claims on herbs have been digitized and a patent would not have been granted in the US, if the latest claim was similar to existing knowledge in India or China. The adjuvant showed properties where it could be used with other licensed adjuvants in T-cell dependent antigens such as diphtheria, tetanus and pertussis group of vaccines. The project was supported by DST and Serum Institute of India with total financial outlay of Rs 90 lakh spread over 3 years. The research project was completed in 2007, but development work continued at Serum Institute. Patents were filed in India and in the US.

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Lupin to market New Jersey based MSD’s pneumococcal vaccine in India New Jersey drug maker MSD has tied up with Mumbai-based Lupin to market MSD’s 23-valent Pneumococcal Polysaccharide Vaccine in India. Under the agreement, Lupin would have a non-exclusive licence to market, promote and distribute the vaccine under a different brand name. Currently, MSD India operates in various therapeutic segments, including metabolics, cardiovascular, vaccines, critical care and oncology and accounts for a product portfolio of about 75 brands in India. Pneumococcal disease kills more patients worldwide than any other vaccine-preventable disease. Globally, 1.6 million people die of pneumococcal disease every year — three people die every minute. “Adults with comorbid conditions such as chronic lung disease, diabetes, chronic heart diseases, chronic liver diseases and immune compromised diseases, as well as adults aged more than 65, are at increased risk of pneumococcal disease, compared to healthy adults,” stated a Lupin release. KG Ananthakrishnan, managing director, MSD India, said, “It is a perfect amalgamation, as MSD brings the research and scientific excellence for Pneumococcal Polysaccharide Vaccines and Lupin brings its marketing excellence and significant reach among key clinician categories to drive product access.”


In the News:

Joe Biden pitches for expanding Indo-US trade

He said India had "risen exponentially" over the past decade primarily because of the "bold steps" it took in 1991 towards liberalization. The US today pitched for further expanding the rapidly growing economic cooperation with India, with Vice President, Joe Biden hoping the bilateral trade to grow five-fold if the two countries made "the right choices". "Our bilateral trade has increased five-fold to touch USD 100 billion in last 13 years. We see tremendous opportunity and there is no reason that if our countries make the right choices trade cannot grow five-fold or more," Biden said delivering a lecture on 'US-India Partnership' at the Bombay Stock Exchange. Describing India as a "rising power", Biden lauded its plans for future growth. He said India had "risen exponentially" over the past decade primarily because of the "bold steps" it took in 1991 towards liberalization. Economic reforms, he said, helped boost India's exports from USD 20 billion to USD 300 billion. Biden, the first US Vice President to visit India in three decades, welcomed relaxation of FDI norms in certain sectors but said a lot more needed to be done to remove trade barriers. "We still have a lot of work to do on a wide range of issues, including limit in FDI, inconsistent tax system, barriers to market access, civil nuclear cooperation, bilateral investment treaty and policies protecting innovations," he said. He was also appreciative of India's role in the region and said, "We welcome India's engagement in the region and its efforts to develop new trade and transportation links by land and by sea in the area." Acknowledging contribution of Indian expatriates to America's growth story, he said, "The US has benefited due to Indian human capital". Referring to Indo-US cooperation in the civil nuclear field, he said a power project of 6,000 MW could be set up in Gujarat with supply of nuclear reactors from American companies. Appreciating India's concern over its food security needs, he said, those would be addressed at the upcoming WTO meeting in December. Talking about terrorism, the Vice President said both countries had been its victim and called for enhanced cooperation to tackle the menace. Biden said the US had been sharing intelligence with India on terror in order to avoid a 9/11 and 26/11-like situations. He also supported India's claim to a permanent seat in a revamped United Nations Security Council. While referring to US' ties with China, Biden described it as a "healthy mix of competition and cooperation." "We are addressing the challenges in our economic relations with China. We view it in terms of a healthy mix of competition and cooperation. We just concluded agreement with China to reduce the use of pollutant called HFC that causes climate change," he said.

Biden underscored the need for enhanced engagement between India, China and America. "The cooperation between the three big nations-India, China and the US- will help grow world economy," he added.


Nancy Powell meets Puducherry CM Enquires about tourism and investment potential

Chief Minister, N. Rangasamy presenting a shawl to US Ambassador to India Nancy J Powell in Puducherry.

Touching upon the broad contours of bilateral relationship during her meeting with Chief Minister N. Rangasamy, United States Ambassador to India Nancy J. Powell checked out the tourism potential and industrial activities in the union territory. On a two-day visit to the Union Territory with a packed schedule, Ms. Powell met Chief Minister N. Rangasamy at the Assembly that lasted for about half-an-hour. Though it was termed a courtesy call, the U.S. Ambassador touched upon bilateral relationship and socio-cultural linkages between India and the United States. She also enquired about the tourism potential of Puducherry and the industrial activities in the Union Territory. On his part, the Chief Minister stressed the need for strengthening relationship between India and the United States. Later, Ms. Powell visited Whirlpool’s manufacturing facility at Thiruvandarkoil near here. In the evening, she attended a meeting of the Indo-American Chamber of Commerce. She also met a handful of industrialists. She was accompanied by Jennifer A. McIntyre, Consul General, Consulate General of United States of America in Chennai. Ms. Powell’s scheduled meeting with Lieutenant Governor Virendra Kataria could not take place as he has been hospitalised in Chennai. She is scheduled to visit Auroville International City near here on Saturday. Tight security has been made in the city in connection with her visit.

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US, India discuss joint production of military equipment A top American defense official and the head of India's DRDO have discussed ways to take bilateral defense cooperation towards the goal of joint development and production of military gear. US Deputy Secretary of Defense Ash Carter and DRDO chief Avinash Chander also held talks on measures to deepen the defense trade relationship between the two countries. "The two leaders discussed how to deepen US-Indian defense trade relationship, and exchanged views on a range of efforts currently underway to move bilateral defense cooperation further toward the mutually agreed-upon goal of a relationship based around co-development and co-production," a senior defense official said. Carter and Chander met at the Pentagon yesterday. Indian Ambassador to the US Nirupama Rao and Vikram Singh, US Deputy Assistant Secretary of Defense for South and Southeast Asia also participated in the meeting. Carter and Chander noted that they looked forward to the upcoming visit of Prime Minister Manmohan Singh to Washington.


Indian-Americans can play key role in India-US ties: Joe Biden Indian-Americans can play a valuable role in the India-US relationship as they bring unique perspective on issues of common concerns like business and trade, climate change and energy says US Vice President Joe Biden. Biden made the remarks in a meeting with a group of Indian-Americans at the White House yesterday during which he discussed his upcoming trip to India. "The Vice President emphasized the Administration's ongoing commitment to the Asia-Pacific region and the importance of our bilateral relationship with India," a White House official said. "He (Biden) also highlighted the valuable role that Indian-Americans can play in enhancing the US-India relationship and the unique perspective they bring to issues of concern to both Indian-Americans and Indians, such as business and trade, education, climate change and energy, and empowering women and girls," the official said on condition of anonymity. The meeting with Biden was closed to the press. Among the Indian-Americans who attended the meeting at the invitation of Biden were Maya Ajmera, founder, The Global Fund for Children; Ajay Banga, chairman, US India Business Council and President & CEO, MasterCard Worldwide; Manish Bapna, executive vice president and managing director, World Resources Institute; Dinyar Devitre, Chairman-Elect, Pratham USA and Mallika Dutt, president and CEO, Breakthrough. Biden's trip to India comes immediately after the visit of Union Finance Minister P Chidambaram and Union Commerce and Industry Minister Anand Sharma to Washington last week during which they met top officials of the Obama Administration, corporate executives and lawmakers. In June, Secretary of State John Kerry had travelled to India for the India-US Strategic Dialogue. Prime Minister Singh is likely to visit Washington late September or early October at the invitation of US President Barack Obama.


A USD 5 million boost for India studies in US A USD 5 million gift to the India studies center at a New York University is set to make it one of the pre-eminent resource centers for the study of Indian culture and civilization in the US. The donations make the Centre for India Studies in the College of Arts and Sciences at Stony Brook University as the recipient of the largest gift ever made to a US public university for India Studies.

The gift comprises a donation of USD 1.25 million from Nirmal K Mattoo, a leading nephrologist and chairman of Stony Brook's Centre for India Studies executive committee, and a USD 1.25 million permanent endowment from members of the Indian American community coupled with matching funds of USD 2.5 million from the Simons Foundation Challenge Grant, the gift has a total impact of USD 5 million, according to a media release from the university. Mattoo's gift will be used to establish the Nirmal and Augustina Mattoo Chair in Classical Indic Humanities. The Chair will encompass a broad range of areas, including art, esthetics, ethics, linguistics, literature, literary theory, philosophy, religion, spirituality, psychology, sociopolitical theory, and allied disciplines, to which India has made seminal and influential contributions. In recognition of Mattoo's leadership role in developing India Studies at Stony Brook, the Centre for India Studies will be renamed the Bishembarnath Mattoo and Sheela Mattoo Centre for India Studies, in memory of his parents, the release said. "These generous gifts from Dr. Mattoo and the Indian American community are building a solid foundation for growth of India Studies at Stony Brook," said Stony Brook University President Samuel L Stanley Jr., MD. "They will help Stony Brook attract outstanding scholars and talented students who recognize the significant role that India has played from ancient times in developing knowledge systems in a wide range of disciplines and its contemporary role as a major player in an increasingly interdependent global economy and world." "The Centre is the perfect example of a successful partnership between a public university and the Indian American community," said Mattoo. "Looking ahead, the endowment comprising these gifts will put the Centre on a solid financial footing and enable us to continue to offer our rich programmes in perpetuity. "The study of India, one of the great classical civilizations of the world, is a wonderful complement to one's education and is a positive influence on the world," he said. "And we are delighted to dedicate this endowment as the Indian American community's birthday gift to India on the occasion of her 66th Independence Day, August 15." The India Studies programme started on Stony Brook University campus in 1995 with just two courses taught by Professors S N Sridhar and Kamal K Sridhar. Today India Studies faculty teach some 30 courses to more than 1,500 students, write and edit books, and publish in major academic journals.

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NASA, ISRO in talks for developing satellite jointly.

Radhakrishnan said NASA's Jet Propulsion Laboratory would make the radar system "if it (in case of NASA, ISRO deciding to work together on the mission) is getting through". US space agency NASA and India's premier space agency ISRO are in talks for jointly building a satellite for the first time. "Now, there is a feasibility study going on whether we can jointly make a satellite, with synthetic aperture radar (SAR) payloads working on two frequency bands - L-band and S-band", Chairman of Indian Space Research Organisation (ISRO) K Radhakrishnan told the media. Charles F Bolden Jr., Administrator of National Aeronautics and Space Administration (NASA) of United States, visited the Space Applications Centre (SAC) of ISRO in Ahmedabad on June 25. He had a meeting with Radhakrishnan, also Secretary, Department of Space, along with senior officials of ISRO to discuss the ongoing cooperative activities between ISRO and NASA and also the potential areas of future cooperation. "...the joint satellite mission is an important step. It's not making an instrument and plugging it actually. It's working together. That's what we are discussing. It (working together) should happen in the next few months", Radhakrishnan

said. "Both organizations are coming together and saying let's develop it together...use your strength, use my strength. That's a good way of working", he said. "It (the proposed satellite) is interesting from scientific point of view, it's interesting from normal resource management point of view," he said. Radhakrishnan said NASA's Jet Propulsion Laboratory would make the radar system "if it (in case of NASA, ISRO deciding to work together on the mission) is getting through". On ISRO's role, he said, "We will be working together. Some will be built by us; some will be built by them. So, this (work-sharing) has to be finalized", adding, data generated by the mission would be used by both ISRO and NASA. Radhakrishnan hinted at the possibility of ISRO making the satellite for the joint mission, with launch from Indian soil. In this context, he pointed to the Indo-French joint satellite missions Megha-Tropiques and Saral, with Paris opting for Indian satellites for the ventures with 'desi' rockets. India's 2008 Chandrayaan-1 mission had two instruments from USA. Mini Synthetic Aperture Radar (MiniSAR) was from Johns Hopkins University's Applied Physics Laboratory and Naval Air Warfare Centre, USA through NASA. MiniSAR was mainly intended for detecting water ice in the permanently shadowed regions of the lunar poles up to a depth of a few meters. Moon Mineralogy Mapper (M3), an imaging spectrometer from Brown University and JPL through NASA, was intended to assess and map lunar mineral resources at high spatial and spectral resolution. M3 aboard Chandrayaan-1 helped to find the existence of water molecules on the lunar surface. "They (NASA) had two instruments (on Chandrayaan-1). It worked and they got good return out of it", Radhakrishnan said, noting the finding. He also hinted that ISRO might contribute to NASA's new asteroid initiative, which includes work to identify and characterise asteroids of all types and a mission to capture and redirect an asteroid into an orbit closer to Earth so that astronauts can visit it. Radhakrishnan said NASA is looking at international space community regarding its perception on the subject (asteroids). "Maybe some joint work will emerge at a later stage. But it's in a very nascent stage", he hastened to add. "NASA has a plan to see how they can manage asteroids, and whether they can do some manipulation of its orbit, etc". ISRO officials noted that India and United States pursue active civil space cooperation mainly in the areas of earth sciences, space exploration, satellite navigation and professional exchange. Last month's visit was the first by Charles F. Bolden Jr. to any ISRO Centre after he took over as NASA Administrator in July 2009. Bolden is only the third NASA chief to visit ISRO in the past four decades.


TCS hires 174 from US campuses

India's largest IT service provider Tata Consultancy Services (TCS), today announced that they have hired 174 college graduates this year in the US. Over the past four years, the company has recruited over 500 college graduates across the US. These new hires are a continuation of TCS’ history of sustaining and adding STEM (Science, Technology, Engineering, and Mathematics) jobs to meet the demands of its global customers. Seventy-four of the new hires joined in April and June; the remaining 100 new hires will join TCS in waves throughout the summer. All of TCS’ new employees will undergo TCS’ Initial Learning Program, a six to twelve week long talent development training program, housed out of TCS’ Cincinnati, OH facility. After they have completed their training program, 100 of the hires will be based at the Cincinnati campus, which has a workforce of over 600 employees. The remaining 74 will be working in locations across the country to support the business growth in those markets. These new hires hail from 26 states plus the District of Columbia across 71 different universities.

"We view new college hires as an opportunity to grow our highly skilled workforce and help support economic growth across the country. We’re especially pleased to be adding so many new employees to our renowned delivery center in Cincinnati," said Surya Kant, President of North America, UK & Europe Operations at TCS. TCS’ workforce development and community engagement strategies in the US are focused on advanced and niche technology skill development and certification and the company is involved in numerous efforts to cultivate the talent that will make up the future technology workforce. For example, in June of this year at CGI America, a nationwide gathering hosted by the Clinton Global Initiative in Chicago, Illinois, it was announced that TCS has joined US2020 as a Founding Leadership Partner. US2020 is a national STEM Education initiative that aims to engage one million science, technology, engineering and math (STEM) professionals in mentorship opportunities by the year 2020. TCS will be the lead partner in developing US2020’s web-based matching technology that will help place STEM volunteers into high impact mentoring opportunities with top non-profits working across different grades, settings, and delivery models. TCS also recently kicked off the latest year of its own STEM education initiative – the TCS goIT Student Technology Program - a multi-tiered outreach program engaging students, parents, universities, and local government with the goal of increasing student excitement and participation in technology related careers. Since goIT’s launch in 2009, the program has evolved from a two-school camp to a national, year-long program that has influenced over 7,000 students across 35 school districts and this year will reach schools and students across 10 cities in the United States as well as Toronto, Canada.


Chidambaram for closer Indo-US economic ties Pitching for closer business ties between India and US, Finance Minister P Chidambaram has said the two nations should not let "a few cases of business rivalry" stand in the way of good relations. Delivering the key note address at the 38th Annual Leadership Summit of the US India Business Council (USIBC) recently, Chidambaram expressed concern over provisions of an immigration legislation passed by US Senate that would make it harder for Indian IT professionals to get temporary work visas.

Stating that economic woes back home had been exacerbated by the global economic slowdown, he asked for patience as India creates jobs for its young and growing population. India had paid a price for its earlier period of rapid growth "in terms of a high fiscal deficit, high inflation and now a high current account deficit. But these are not problems that we cannot overcome," Chidambaram said.

Noting that business competition is the foundation of a free market and free economy, Chidambaram said business rivalries should not be brought to the political table. "I therefore appeal to you there is great opportunity to work together for the two countries," he said in his speech. "We are a country where we are building our economy brick by brick, and in that process we seek your help," Chidambaram told the audience that included executives, officials and lawmakers from both India and the US.

Expressing concern over the Comprehensive Immigration Reform Bill passed by the US Senate, Chidambaram said there is a need to find a way to "disentangle" it. "In no dictionary is immigration defined as including temporary relocation of knowledge workers. Yet the immigration bill has a clause that seems to erect non-tariff barriers on temporary relocation of knowledge workers," he said. "I have spoken to officials, Senators and Congressmen (on our concerns on immigration bill). They understated that."


Indian student gets 1.2 crore scholarship to study film making in US

Kolluru Puja Aparna shows her short film on protecting environment

Film-making is her passion and she could not have asked for more when she got an invitation from Ringling College of Art and Design, Sarasota (Florida) in the U.S., one of the best schools for film-making, to pursue a four-year Undergraduate Course in Digital Film-making with full scholarship. A student of United World College, Pune, Kolluru Puja Aparna has got a yearly scholarship of $56,000 and is the only one from India to get full scholarship to pursue the course. Daughter of a former photo journalist Kolluru Venkat from Vijayawada, she completed her International Baccalaureate at Pune and chose Film Studies as one of the electives. Talking to The Hindu, Ms. Aparna said that she was interested in Cinematography and directing films and this had come as a god-sent opportunity for her as without this Rs.1.2 crore (in Indian currency) scholarship she could not have dreamt of entering such a college. What got her a seat in the college is her 'portfolio' comprising photographs; short films and a 7-minute film Mad World. She had won an Rs.18 lakh scholarship even at the UWC Pune to pursue the Baccalaureate. The scholarship amount comes from the UWC and U.S.-based Davis Scholarship. She got a seat also in the School of Art Institute, Chicago, considered the second best in the world for film-making.

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Obama nominates Indian-American Nisha Biswal as assistant secretary of state for South Asia

In a striking development, President Barack Obama on Thursday nominated Nisha Desai Biswal, an accomplished Indian-American administrator, to head the South Asia bureau in the US state department. When confirmed by the Senate, Desai will become the first person of Indian or even South Asian origin to head the bureau, which oversees US foreign policy and relations with India, Pakistan, Bangladesh, Afghanistan, Sri Lanka, Nepal, Maldives and Bhutan. She is currently the assistant administrator with USAID, which is also headed by an Indian-American, Rajiv Shah.

Desai Biswal's nomination is unprecedented in the sense that the South Asia bureau has always been headed by "all-American" diplomats, although there have been many mid-level staffers who are US-born but are of sub-continental origin. Previous assistant secretaries of the South Asia bureau from the time it was formed in 1991 are Robin Raphel, Karl Inderfurth, Christina Rocca, Richard Boucher, and Robert Blake - in that order.

While the "Af-Pak" portfolio is now largely managed by a special representative (currently, James Dobbins), Desai Biswal's nomination is bound to cause some consternation in Pakistan, whose previous ambassador Hussain Haqqani had once complained about the growing number of Indian-Americans in the Obama administration.

Although no Indian-American appointee has ever been accused of bias in dealing with India-Pakistan issue - if anything, they err on the side of caution - Pakistani misgiving are aired frequently in their media. But both Desai Biswal and Rajiv Shah, her boss at USAID, have won accolades for their work in Pakistan, which has a larger American aid program than India.

The White House announcement said the President intended to nominate Nisha Desai Biswal as assistant secretary of state for "South Asian Affairs," although in the State Department it is formally known as "Bureau of South and Central Asian Affairs" dealing also with the five Central Asian "stans" - Kazakhstan, Kirghiztan, Tajkistan, Uzbekistan, and Turkmenistans. The South Asia bureau itself was originally carved out from what was the Nearest Eastern and South Asian Affairs bureau, with the Central Asian countries added to it some years back.

Desai Biswal's nomination came along with seven appointments for various senior administration posts at the undersecretary, assistant secretary and ambassadorship levels, accompanied by a Presidential statement saying, "It gives me great confidence that such dedicated and capable individuals have agreed to join this Administration to serve the American people. I look forward to working with them in the months and years to come." The date for her confirmation hearing has not been set yet.

Desai Biswal, who is a graduate of the University of Virginia, began her professional career in Washington DC with the American Red Cross in the mid-90s before she joined USAID in her first stint. As a Hill staffer with the US House of Representatives International Relations Committee from 1999 to 2002, she worked extensively with diplomats from the region before doing another stint with the NGO Interaction. From 2005 to 2010, she was the Majority Clerk for the State Department and Foreign Operations Subcommittee on the Committee on Appropriations in the US, a crucial position close to the purse strings of American foreign aid.

Her appointment was met with much delight in the Indian-American community with great approval voiced over social media. Although there have been several other Indian-Americans at the assistant secretary level ( Bobby Jindal, Richard Varma, Karan Bhatia, Suresh Kumar among them), this is the first time an Indian-American is heading the South Asia bureau, a new milestone for the community.


Indo-US Collaboration in the Field of Space Technology on Agenda India's first Mars Orbit mission this year is seen as a great step forward for Indo-US collaboration in the field of space technology. Both the countries want to increase commercial space cooperation and come up with more opportunities for companies in both the countries.

The Indian Space Research Organization and National Aeronautics and Space Agency have shown a common interest to explore further cooperation in fields such as planetary science and heliophysics. Moreover, they want to organize missions to the moons and Mars.

NASA has agreed to provide deep space navigation and tracking support services to the Mars mission scheduled to take place in October-November. It is the non-visible period of the Indian Deep Space Network. "Collaboration between India and the U. S. into the sphere of deep space exploration would fuse talented agencies and experts in both nations to a degree not previously seen", observed Boston-based foreign affairs and strategic policy expert Matthew Hoey. He added that this partnership will certainly help in making new discoveries and encouraging progress in the field of space technology. This will assist researchers in all space faring states.

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Indo-US trade can be mutually beneficial, say dairy exporters At a time when India is struggling to consistently meet its growing domestic dairy demand, Indo-US bilateral trade can be mutually beneficial, American dairy exporters today said while applauding US Vice President Joe Biden for taking up their cause during his just-concluded trip to New Delhi and Mumbai. "US dairy exporters believe that trade between the United States and India can be mutually beneficial, particularly as India struggles to consistently meet its growing domestic dairy demand," said Tom Suber, president of US Dairy Exporter Council.

"As the US and India reengage in talks aimed at improving bilateral trade, we must ensure that a focus on the importance of safe and accurately labeled food remains at the core of discussions on agricultural trade," he said. In a joint statement, the National Milk Producers Federation (NMPF) and the US Dairy Export Council (USDEC) applauded Biden's remarks calling for expanded trade between India and the US, during a speech in Mumbai. He also pointed to the need to negotiate and work through barriers to market access, among other trade priorities. "For far too long, a wide range of US dairy products have been effectively locked out of the Indian market without sound scientific justification," Suber said. "US dairy products are sold in over 100 markets around the world and are well known for their high level of food safety. We look forward to renewed discussions with India on how to remove inappropriate barriers to market access for safe products," he said. "As we focus on tearing down unwarranted trade barriers so that our industry can continue to grow, it is equally important to ensure that we also maintain a strong focus on food safety and product integrity," said Jim Mulhern, chief operating officer of NMPF. "US dairy products have an excellent track record in this area while India's own government has found serious problems with a majority of its own dairy products," he added. In early 2012, NMPF called the US Food and Drug Administration's attention to a study conducted by the Indian Food Safety and Standards Authority that found that 68 per cent of milk samples analyzed did not meet Indian standards. "Given these alarming findings, we believed it was important for FDA to determine if adulterated dairy products in India were entering the US market," Mulhern stated. "We are gratified that FDA agreed that concern is warranted and this summer put in place an import alert on certain dairy products from India," he said. The FDA import alert calls for the detention of specified dairy products from certain Indian exporters and requires further documentation to ensure that the products are complying with US regulations designed to protect food safety.


Indian-American docs to bring affordable healthcare to India The influential Indian American doctor’s community today announced to hold their “Global Healthcare Summit” in Ahmedabad next January for bringing affordable world class healthcare for Indians. “The Association of American Physicians of Indian Origin (AAPI) would like to make a positive and meaningful impact on the healthcare in India,” said the AAPI president, Dr. Jayesh Shah, on his return from India along with other members of the organization. Shah said Global Healthcare Summit 2014 which will be held in Ahmedabad from January 3-5 next year and is aimed at advancing the accessibility, affordability and quality of world-class healthcare to the Indian people.

Among other areas, the Summit will focus on prevention, diagnosis, treatment options and share ways to truly improve healthcare transcending global boundaries, he said. Noting that healthcare in India is one of the largest sectors in terms of revenue and employment; Shah said “AAPI has been engaged in harnessing the power of Indian diaspora to bring the most innovative, efficient, cost effective healthcare solutions to India.” So far AAPI has organized seven Indo-US Global Healthcare Summits and has developed strategic alliances with various organizations.


US-India have common goals in future global context: Joe Biden

Mukherjee, for his part, said India-US relations "are based on shared fundamental values and a growing convergence of interests".

Visiting US Vice president Joe Biden today said America and India have common goals in the emerging global scenario as he called on President Pranab Mukherjee here. Mukherjee, for his part, said India-US relations "are based on shared fundamental values and a growing convergence of interests". Biden, on his second day of visit to the country, met Mukherjee at the Rashtrapti Bhawan in the evening. President Mukherjee, welcoming Biden, said India always gave high priority to its relations with the United States of America and it appreciates the strong voice of support for India-related issues in the Senate, including the bilateral Civil Nuclear Cooperation Agreement. "India accords the highest priority to its relationship with the United States. India-US relations are based on shared fundamental values and a growing convergence of interests," a Rashtrapati Bhawan statement, released after the meeting, quoting Mukherjee said. Biden, according to the statement, said relations between the two countries were critical for the entire region. "The issue is no longer what the US can do for India but what the two countries can do together in the world. No other two countries have so much at stake or in common in the emerging global scenario," the statement quoted Biden as saying. Copyright © Press Trust of India, All Rights Reserved. Click here for index

Series of steps needed to address Indo-US trade concerns: Tata In the backdrop of strained business and trade ties between India and the U.S., top business leaders like Ratan Tata have vowed to address the concerns and identify the steps that need to be taken for strengthening bilateral relationship. "Together we can do so much more," Tata, co-chair of the India U.S. CEO Forum said. Tata said that Finance Minister P Chidambaram is doing a good job in restoring the credibility that India has lost in the recent past. Tata added that there is "probably no silver bullet" to address these concerns, but a series of steps that needs to be taken by both the countries. There should be a sense of urgency in crisis, he said at the annual leadership summit of US India Business Council. "I think the two countries have great deal to turn to each other more. Two countries need to some together and remove some of the small irritants," Tata said. Increasing trade is the way to increase prosperity, said David Cote, chairman and CEO of Honeywell. Over the past couple of years the two countries have not done enough to realize their true potential, added Cote, the other co-chair of the India U.S. CEO Forum added. A true public-private endeavor to enhance bilateral trade and investment, he said. U.S.-India CEOs Forum gives US and Indian CEOs the opportunity to discuss issues of mutual interest and submit discrete, action-oriented recommendations to both governments for consideration, the U.S. State Department said on the eve of the meeting. In addition to American and Indian CEOs, many senior Indian and US officials participated in the meet, including Finance Minister P Chidambaram, Commerce and Industry Minister Anand Sharma, U.S. Treasury Secretary Jacob Lew and US Commerce Secretary Penny Pritzker. Deputy National Security Advisor of the U.S. Caroline Atkinson, the United States Trade Representative Michael Froman, and the Deputy Chairman-Planning Commission of India Montek Singh Ahluwalia, along with CEO co-chairs Tata and Cote, led the meeting held at the Foggy Bottom headquarters of the State Department. Launched in 2005, the CEOs Forum last met in September 2011 in Washington. The Forum announced initiatives including infrastructure debt fund, clean drinking water and conservation, energy efficient building projects and cold chain storage and distribution at that meeting.

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FDI approvals to boost Indian economy The series of foreign direct investment proposal approved by the Union Cabinet in key areas of defense, insurance and telecom along with others would provide the much needed boost to the Indian economy, a top Indian industry leader has said. "It is good news for India, a very bold and a significant step," Chandrajit Banerjee, Director General of the Confederation of Indian Industry (CII), said. The announcements of reforms have come at a very important time, because the country is facing various challenges in terms of growth and deficit, he said. "This would really help both in terms of improving in terms of our revenue, in terms of our investment and in terms of Indian companies to grow," he said. Banerjee is leading a high powered delegation of Indian CEOs to the US for a week-long trip during which they have been meeting senior government officials, lawmakers, think tanks and members of the industry. Banerjee said the Indian industry welcomes the move as efforts were going on for quite some time to push FDI in telecom, defense and insurance sector. "For quite some time, we have been talking about reforms to be pushed and

continued. We have been talking about FDIs in certain specific areas and today telecom is a big announcement," he said. Noting that India-US relationship is at a cross road, Banerjee said there are several issues that the American companies have been raising and the ability of India to reform. "This has come at a very good signal. We have been meeting people, meeting think-tanks. We have talked about these steps that India has taken recently. This is good news for them and there is tremendous appreciation for this in the United States," he said. Referring to the immediate feedback he received about the latest announcements from his American counterparts, he said, "They think that despite the challenges India has and the upcoming elections, we are on track as far as reforms are concerned." "That is very important from the sentiment point of view, and also from the perspective of India US relationship," he said. Banerjee, however, said that it still might take time before the flow of FDI is seen in India as a result of these major policy changes. "It takes time. It does not happen overnight," he said.


Policy relaxation can spur FDI: IACC 'This is the time for the foreign investors to take advantage of the liberal FDI policies'

Welcoming the proactive steps taken by the Government to ease the foreign direct investment (FDI) norms in the country, primarily to stem the deteriorating current account deficit, Shourya Mandal, National President, Indo – American Chamber of Commerce (IACC) said, “these measures are inevitable against the backdrop of steep fall in the cross-country capital flows and subsequent heightened competition among the nations to attract the limited capital.” In a statement issued today, Mandal said “undoubtedly, we have to put in place a set of checks and balances to uphold our sovereignty and interest of the domestic industry, while attracting FDI. Our rules and regulations are framed taking cognizance of that factor. Unwarranted polemics on that count should be avoided to chase our goal of transforming ourselves into a developed country from an emerging economy”. He added that the possibility of higher FDI in defense production with approval of CCS had the potential to attract large amount of investment especially from the US. He hoped that the Government would provide transparent guidelines in this regard as soon as possible. The IACC President flag marked the need for increasing the FDI ceiling in a critical sector like insurance, since that sector alone can attract considerable investment. Almost all foreign players in the joint venture in insurance FDI is keenly watching the government policy to relax the investment norms in the insurance sector to up their stake in the venture, which also will help resolve to some extent our current account deficit. “I hope there will be a consensus on this, across the political spectrum, since any decision to increase the threshold limit of FDI in insurance needs parliamentary approval,” he added. In view of the current political situation, he hoped that all parties would come together to implement this decision. It is important to have continuity in our policies irrespective of which government is in power. “India has a long tradition of respecting this norm in letter and spirit and I hope that there will be no reversal of such policies in future.” Mandal added that “This is the time for the foreign investors to take advantage of the liberal FDI policies, focus more closely on India and partake in its progress as a stakeholder.”

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Indian-American scholar headed to India to study Ayurveda At a time when Americans are increasingly looking at alternative medical systems, particularly those from oriental countries, the United States is sending a renowned Indian-American scholar to study Ayurveda in India. Bhaswati Bhattacharya, 37, would be based at the holy city of Varanasi to explore various fields of Ayurveda at its prestigious Banaras Hindu University.

http://www.iaccindia.com/

http://www.iaccindia.com/

She will study the concept of Ojas, which roughly correlates to today's understanding of immunity. Notably a large number of diseases in the US are related to the immunity system. "As a scientist and a physician in the United States, I want to know why has no one looked at Ojas and the prescriptions that are given in Ayurveda for these diseases when many of them are so useful for the kind of diseases that plaguing in our family and in our population," Bhattacharya told PTI in an interview before leaving for India. Possibly the first US doctor to study Ayurveda in India as a Fulbright scholar, Bhattacharya is scheduled to reach India soon. On having selecting Varanasi as her center of study, she described BHU as Harvard or Stanford of Ayurveda. "Banaras also has very strong MBBS -- modern medicine program," said the Fulbright scholar, who is a practicing doctor trained in pharmacology and nerve science. However, Kolkata-born Bhattacharya conceded that Ayurveda is facing challenges from the mainstream medical system. "Mainstream medicine does not want to accept anything that's not going to propagate its own profits," she said in response to a question. "Complementary medicine has been increasing in popularity since last decade. So huge number of people here spending lot of money out of pockets for everything from acupuncture to supplements, massage to yoga, all these things which they use instead going to their doctor for their healthcare. There is huge amount of that. So masses of American population need to know more about other medical systems," she said. Bhattacharya said her work will explore the use of pedagogical methods such as problem-based learning and student-centered curriculum design for teaching in the clinical profession of Ayurveda. "People think Ayurveda as preventive medicines. But Ayurveda actually is curative medicine," she added. Bhattacharya received her baccalaureate degree from the University of Pennsylvania and earned a master’s degree in pharmacology with a concentration in neuroscience at Columbia University. She then studied at the Harvard School of Public Health and received a master’s degree in international public health. Bhattacharya has served as Clinical Assistant Professor of Family Medicine at Weill-Cornell Medical College and as Adjunct Assistant Professor of Family Medicine at Mount Sinai School of Medicine in New York. Copyright © Press Trust of India, All Rights Reserved.


When Carnegie Mellon President Subra Suresh kept his date with Indian roots

Bhaskar Ramamurthi panicked when he first heard the news. He had set up the function beautifully, coaxing Subra Suresh to give the convocation address at IIT Madras, and spend four days there. Now, Suresh had to take over on July 1 as the president of Carnegie Mellon University, US. Can the president of Carnegie Mellon, one of the top engineering universities in the world, afford to take off for four days in India within two weeks of starting his new job?

"As soon as I heard the news about his appointment," says Ramamurthi, IIT Madras director, "I contacted him and asked him about his visit."

Suresh kept his word, his latest illustrious first as an Indian and Asian in American academia notwithstanding. Suresh is the first Indian-origin president of Carnegie Mellon and also one of the few from that set to have the rare honour of heading a top global university. Before this job, he was the first Asian to head the National Science Foundation (NSF), the $7 billion agency that funds all non-medical fundamental research in America. He was also the first Asia-born dean of an MIT school, and the youngest - and the first Indian - professor to be recruited to the engineering faculty at Brown University. In between all this, he conducted top-notch research in material science and engineering, which brought him a string of awards. "How many Indians have done what he has achieved in America?" asks Ramesh Mashelkar, National Research Professor. "But it also speaks well about the American system based purely on merit." Aware of Indian heritage Suresh left for the US on July 20 after spending four days at IIT Madras, lecturing on his favorite topic of global science and engineering, networking with his former classmates, briefing the faculty about his research on engineering and disease, and exploring opportunities for collaboration between Carnegie Mellon and IIT, among other things.

"I spent five years from age 16 to 21 at IIT Madras," Suresh told ET during an interaction at the institute last week. "And it was an important influence in shaping my perspective, values and career." The influence was not merely in the classroom. "When you spend your time with so many smart people, it gives you a very interesting perspective. Many of my classmates have done very well in different spheres of life. It is a very good environment to grow up in the formative years of your life." Suresh is now 57. He is dark, of medium height, with rapidly-thinning hair on his forehead, and a pleasant disposition that hints at quiet ambition. He speaks softly, mixing a strong Tamil accent with a slight American twang. He is conscious of his Indian heritage, his modest background, and the breaks that mark the career of successful people. During his

welcome ceremony at Carnegie Mellon, in a rare show of emotion and self-revelation, Suresh had compared himself with Andrew Carnegie, the steel magnate who came from Scotland and made it big as an entrepreneur. Suresh's father was a government official in Tamil Nadu and his mother a homemaker. His mother was a major inspiration, motivating him to pursue his studies abroad in the 1970s, in spite of distance and costs. "I applied to Iowa State University as it charged no application fee," says Suresh. "In those days it was difficult to get foreign exchange." He moved to MIT for his PhD. "I was very motivated for my PhD, as I worked with a young professor," he says. "I was his first PhD student and his career depended on my success. So, we worked almost as colleagues and got some very good result in the first four months, which we published and which was very well received. And that motivates you." A young achiever His PhD work was a key factor in his rise as a material scientist. He had worked on the fracture and fatigue of materials, a topic on which he had won considerable fame by the age of 30, winning awards. Suresh later moved on to other topics, one of them at the junction between nanotechnology and life sciences. He gazed at the malaria parasite through the eyes of an engineer, focusing on its mechanics. At MIT, he was a major influence in using engineering to study medicine. As the dean of engineering, he was also involved in many new initiatives, including recruiting larger numbers of women. Then came a phone call from Washington. "They told me that I had been shortlisted to head the NSF, and asked whether I would consider taking up the job. I told them, 'how can I say no'?" The US Senate confirmed his appointment unanimously in 2010. In 2011, the Indian government gave him a PadmaShri. Suresh led the NSF through difficult times. Its budget of $7 billion seemed high, but it was not increasing much, and was stretched in an era of global competition. Suresh's reputation as a good manager grew in Washington.

Copyright © Bennett, Coleman and Co. Ltd. All Rights Reserved. Click here for index

IIT-B one of the best in world: US vice-president Joe Biden

US vice-president Joe Biden recently hailed the premier Indian Institute of Technology-Bombay as "one of the leading" technology schools in the world that left him "extremely impressed". "I have been extremely impressed. This is a great university, one of the leading universities in the world in the field of technology," he said after visiting various laboratories and interacting with students on the campus. Biden's comments came amid talk of declining standards of education in the country. After visiting the departments of Nano Technology and Earth Sciences, he held a closed-door meeting with female students pursuing doctoral studies in multiple disciplines. "We are looking at India's future. I mean it," he said, citing the oft-used quote "women are half the sky". Biden, who wrapped up his 4-day India visit with IIT-B as his last port of call, particularly appreciated the diverse work being done by the female students he met in areas as varied as transportation, education and medicine.

http://timesofindia.indiatimes.com/photo/21342354.cms

Accompanying US officials said the meeting was part of an Indo-US partnership on 'women in science'. "To see these women engaged in science, technology and engineering is something worth promoting very heavily in the US.In the US, now more women graduate from college than men and still there are only 20 per cent or so entering the science stream," he said. Biden, the first US vice-president to visit India in the last three decades, said the future of the people of this country which is "most open and most representative" is much better. "We have to take advantage of the collective capabilities of our population," he added. Copyright © Bennett, Coleman and Co. Ltd. All Rights Reserved.


Calendar of IACC Events for 2013 Topic/ Title of the Event Description Date Venue Contact Person

Annual Fellowship Nite

August 7, 2013

Hotel The Lalit New Delhi

Ms. Neelu Sadana [email protected]

Interactive Meeting with the U.S. Ambassador to India, Ms. Nancy J. Powell

August 9, 2013

Pondicherry Ms. Sujatha Ravishanker [email protected]

Work Shop on Indo-US Opportunities in the SME Sector

August 16, 2013

Will be announced shortly

[email protected]

Meet Success First Hand We invite a first generation entrepreneur to share his road to success with IACC members

August 20, 2013

Chennai Ms. Sujatha Ravishanker [email protected]

Workshop on “The Opportunities & Challenges in starting US Operations”

Workshop will be on “The Opportunities & Challenges in Starting US Operations” by Mr. Prakash Iyer, President, VXL Services Inc.

August 22, 2013

IMA House, Kaloor, Kochi

Ms. Sujatha Sunil [email protected]

“Opportunity for the SME sector in Private Equity”

The financing opportunities for the SME (Small Medium Enterprises) Sector in Private Equity will be organized in form of presentation by leading private equity players.

August 30, 2013

ICCA, Kolkata

Ms. Madhusree Daityari [email protected]

IACC supports Associate partner for “Maharashtra State Technology Summit & Technology Platform” organized by CII

September 03-04, 2013

YASHADA ( MDC Auditorium)

Meeting on Sourcing from USA Meeting to be chaired by head of FCS, US Embassy, New

September 06, 2013

Lincoln room, American Center,


Forthcoming Events





https://www.iaccindia.com/event.asp?id=227





Delhi conducted by Mr. Richard Craig, Principal Commercial Officer.

Kolkata

Seminar on Export Opportunities and Challenges for the Indian Processed Food Industry

The focus of this Seminar will be on enabling Indian exporters explore opportunities and expand their presence especially in the US market. Prominent speakers from food processing and packaging industries and leading exporters etc, have been invited to share their knowledge at this conference.

September 13, 2013

Hotel The Residency, Avinashi Road, Coimbatore, India

Mr. Preetam Alex [email protected]

“Award Ceremony for Corporate Excellence”

A panel of eminent judges wills a certain the result

September 13, 2013

Taj Bengal, Kolkata


IACC 44th Annual General Meeting September 27, 2013

Hotel Taj Mahal Palace & Tower, Mumbai, India

Ms. Shweta Sanghvi [email protected]

9th Indo-US Economic Summit Focus areas

Aerospace & Aviation

Security

IT for Manufacturing

Manufacturing for the transportation sector with emphasis on Auto Components,

September 30 –October 01, 2013

Regency Ball Room, Hotel Hyatt Regency, New Delhi, India

Mr. Atul Vyas [email protected]









Auto After Market and Emerging Opportunities in the Indian Railways

Media and Entertainment

‘Indo-US Engagement in the Legal and Accounting Professions’

October, 2013

Hotel Trident, Nariman Point, Mumbai

Ms. Trishla Dosi [email protected]

IACC Supports ET ACETECH 2013-2014 October17-20, 2013

Bombay Exhibition Centre

Ms. Trishla Dosi [email protected]

“Seminar on Globalization of Media & Entertainment Sector with Special focus on India & US”

Leading film producer from Indian & US film companies media & entertainment personalities, directors will be a part of the panel

October 23, 2013

Taj Bengal, Kolkata


‘’Annual General Convention and Reception for the new US Consul General Ms. Helen Lafave’’

November 07, 2013

The Bengal Club, Kolkata






Indo-US Trade Statistics

2013: U.S. trade in goods with India NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified. Details may not equal totals due to rounding.

Month Exports Imports Balance

January 2013 1,699.3 3,171.1 -1,471.8

February 2013 1,605.0 2,829.6 -1,224.5

March 2013 1,861.6 3,662.0 -1,800.4

April 2013 1,655.3 4,075.3 -2,420.0

May 2013 1,935.8 4,201.5 -2,265.7

TOTAL 2013 8,757.0 17,939.4 -9,182.3

2012: U.S. trade in goods with India NOTE: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified. Details may not equal totals due to rounding.

Month Exports Imports Balance

January 2012 1,350.7 3,109.2 -1,758.5

February 2012 1,496.1 3,034.0 -1,537.9

March 2012 1,757.0 3,365.3 -1,608.4

April 2012 1,757.9 3,328.2 -1,570.4

May 2012 1,769.0 3,569.6 -1,800.6

Total 2012 8,130.70 16,406.30 -8,275.80


India – US Trade Analysis Trade and commerce form a crucial component of the rapidly expanding and multi-faceted relations between India and U.S. From a modest $ 5.6 billion in 1990, the bilateral trade in merchandise goods has increased to $ 62.9 billion in 2012 representing an impressive 1023.2% growth in a span of 22 years. India’s merchandise exports to the U.S. grew by 7% from $ 12.84 billion during the period January- April 2012 to $ 13.74 billion during the period January- April 2013. US exports of merchandise to India grew by 4.36% from $ 6.54 billion during the period January- April 2012 to $ 6.82 billion during the period January- April 2013. India - U.S. bilateral merchandise trade stands at $ 20.56 billion during this period. Trade during the period January – April 2013 i) Major items of export from India to US Select major items with their percentage shares, are given below. a) Textiles (16.9%) b) Precious stones & metals (20.9%) c) Pharmaceutical products (11.1 %) d) Mineral Fuel, Oil (8.9%) e) Organic chemicals (5.7%) f) Machinery (4.5%) g) Lac, Gum, Resins (3.7%) h) Iron & Steel Products (3.3%) ii) Major items of export from US to India Select major items with their percentage shares, are given below a) Precious stones & metals (28.1%) b) Machinery (12.6%) c) Electrical machinery (7%) d) Optical instruments & equipment (6.2%) e) Mineral Fuel, Oil etc. (5.9) f) Aircraft, spacecraft, Parts (5.2%) g) Organic chemicals (4.3%) h) Miscellaneous Chemical Products (3.8%)


International Buyer Program, 2013 Trade shows

International Buyer Program

2013 Trade Show

Schedule

Title Date Venue Website

Annual Meeting and Clinical Laboratory Exposition of the American Association for Clinical Chemistry

July 28 - August 1, 2013 Houston, TX aacc.org

MAGIC Tradeshow - Summer

August 21-23, 2013 Las Vegas, NV magiconline.com

PRINT 13 September 6-11, 2013 Chicago, IL gasc.org/PRINT13.aspx

PACK EXPO Las Vegas 2013

September 23-25, 2013 Las Vegas, NV packexpo.com

RETECH 2013 September 2013 To Be Announced retech2012.com

GridWeek 2013 October 1-3, 2013 Washington, DC gridweek.com

WEFTEC 2013 Water Environment Federation Technical Exhibition and Conference

October 5-9, 2013 Chicago, IL weftec.org

International Baking Industry Exposition (IBIE)

October 6-9, 2013 Las Vegas, NV ibie2013.org

IFAI Expo Americas 2013 and SGIA Expo 2013

October 23-25, 2013 Orlando, FL ifaiexpo.com

American Film Market November 6-13, 2013 Santa Monica, CA americanfilmmarket.com

POWER-GEN International November 12-14, 2013 Orlando, FL power-gen.com

Greater New York Dental Meeting

November 29 - December 4, 2013

New York, NY gnydm.com


http://www.aacc.org/events/2012am/pages/default.aspx






http://www.weftec.org/




http://ibie2013.org/



http://www.americanfilmmarket.com/

How to reach us: We invite articles, industry related market research reports and whitepapers, information on policy matters related to Indo-US trade and investments via e-mail. Indo-American Chamber of Commerce (IACC) deserves right to edit the said articles for clarity and space and use them in all electronic and print form. E-mail: [email protected] Disclaimer: No part of this newsletter may be reproduced, reprinted or utilized in any form or by any means electronic or mechanical without prior permission of the publisher. While every care is taken in compilation of information contained herein, the publisher cannot accept any responsibility for error or omission or for the use of trademark, copyrights, brand name, logos or other identifying symbols provided in supporting and participating companies and organizations. However all possible and reasonable care has been taken to ensure that the information in this newsletter is as accurate and up-to-date at the time of printing. This newsletter is for internal use only. Credits: A number of persons and organizations have assisted us in the preparation of this newsletter. The information contained herein has been obtained from sources believed to be reliable and are based on research and analysis, whitepapers, academia, websites, internet postings and e-mails received. We wish to thank and express our gratitude to everyone named and unnamed for providing valuable inputs and providing data willingly. Conceived, Designed and Researched by: Pratik Waghela, Systems & Communications Assistant, IACC; E-mail: [email protected]


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