Chief Minister of Haryana addresses Business Leaders in US

August 20, 2015 – Washington DC- Today a group of U.S. industry executives from the U.S.- India Business Council (USIBC) met with the Chief Minister of Haryana, Mr. Manohar Lal for a discussion about investment opportunities in the state of Haryana.

Chief Minister Manohar Lal engaged with senior business executives on important topics that have dominated the bilateral commercial relationship in recent months and addressed areas such as Haryana’s comparative edge as an investment destination and regulatory reform measures that have been undertaken by the government to promote ease of doing business in the state through its New Enterprise Promotion Policy 2015, Happening Haryana.

Emphasizing investment opportunities in Haryana, Chief Minister Manohar Lal said, “We strive to attract both international and domestic business in to the state of Haryana. To achieve this end, I am proud of the reform efforts that have gone in to making public services more efficient— land registration is now enabled through information technology (IT), long-pending land acquisition cases have been resolved and infrastructure construction is faster as evidenced by the completion of the Delhi-Faridabad Metro project and restarting of work on Kundli-Manesar-Palwal Expressway. We are pushing for policy reforms in a manner that will place Haryana as a business- friendly state and create jobs. I welcome American enterprise to be a part of our state’s growth.”

Lauding the vision of Chief Minister Manohar Lal, Mukesh Aghi, President of USIBC, said, “Since 2000, the state of Haryana has emerged as a major investment hub in Northern India. The city of Gurgaon is a key center for the information technology and automotive industries. The state’s Enterprise Promotion Policy 2015 aims at enhancing ease of doing business, promotes micro, small-scale and medium enterprises and encourages long-term investment in the state to flourish. All these measures are critical for not just enhancing the perception of doing business in India, but also indicate the reality of ease of doing business.”

Sonny Khurana, President and CEO of iTECH, a leading distribution company in the telecom sector, said, "Haryana, with its diversified economy and vibrant cities is well positioned to leverage initiatives such as Make in India and Smart Cities. Emerging markets are important for iTECH’s business model. A pro-growth government, under the visionary leadership of Mr. Manohar Lal, places Haryana as a strong hub for future investment opportunities.”

The round table discussion focused on key areas for investment promotion in the state that include energy related initiatives, aerospace, food processing, auto/auto components and mass rapid transport.

The event was attended by companies and senior leaders from every major sector of business— Blumberg Grain, IREO, Coca Cola, Wipro, Capital Novus, Cargill, Medtronic, Uber and Boston Scientific.

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US India Business Council

U.S.-India Business Council Concludes Successful Medical Device Trade Mission to India

NEW DELHI – July 24, 2015 – The U.S.-India Business Council (USIBC) concluded its Medical Device Trade Mission to New Delhi and Gandhinagar. The delegation expressed its commitment to addressing India’s most pressing public health challenges, and called for further dialogue with the government on issues related to ease of doing business, disease management, and the implementation of training programs for medical device regulators. The delegation encouraged the government to pass legislation that would provide specific regulations for medical devices, which are currently treated as pharmaceuticals under India’s Drug & Cosmetics Act. The industry is also working to engage with the government and stakeholders to partner on solutions for increased access to medical technology for Indian patients.

The delegation was chaired by Maulik Nanavaty, Senior Vice President and President for Neuromodulation at Boston Scientific, and included participation from Abbott, Medtronic, Zimmer, Johnson & Johnson, Quintiles, General Electric, Varian Medical, and AZB & Partners.

“Through this series of fruitful discussions, we have identified opportunities to continue collaborating with the Government of India in support of its priorities to attract investment and talent to the medical device sector. India has made considerable strides in developing innovative industries across a number of sectors and maintains strong potential to do the same in medical devices. With India’s first-rate engineering talent, experience in IT innovation, and the Modi government’s Make in India focus, it is even more important for the government and industry to work toward creating the proper ecosystem for medical device innovation. This will expedite the ongoing creation of research and development and product innovation that medical device companies offer India, leading to faster growth of medical device manufacturing in the country. The time is opportune to fulfill the government’s mandate of Make in India and Innovate in India,” said Maulik Nanavaty of Boston Scientific.

Over the course of the mission, the delegation met with a wide range of public and private sector representatives to convey the global medical device industry’s long-term commitment to working with the Indian Government and key stakeholders. Meetings with the Government of India included the Ministry of Health, Department of Industrial Policy and Promotion, Drugs Controller General of India, Ministry of Commerce, Ministry of Finance, Department of Pharmaceuticals, and the Ministry of Chemicals and Fertilizers.

“USIBC member companies were encouraged by the openness of the Government of India to engage with industry on best practices and areas of potential collaboration. Discussions included the importance of developing a critical mass of patients with access to healthcare and improving patient awareness of healthcare costs. USIBC members noted in their meetings that they publish Maximum Retail Prices (MRP) on all medical devices sold in India. The medical device industry, which forms a critical segment of the healthcare industry, is going through rapid transformation in India and is projected to grow at a higher rate as health insurance becomes more widely available and the country’s consumers continue to demand better healthcare services. USIBC’s medical device members are excited about the opportunities in India,” said Amy Hariani, Director and Legal Policy Council at the U.S.-India Business Council.

The Indian medical device industry is currently valued at US $ 4.4 billion, which is the fourth largest in Asia. The sector has the potential to grow to $7 billion by 2016 with a growth rate of 10 – 15% annually.

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Maharashtra CM Devendra Fadnavis addresses Investors in New York

June 30, 2015 – New York- Today a group of U.S. industry executives from the U.S.-India Business Council (USIBC) met with the Chief Minister of Maharashtra, Devendra Fadnavis for a discussion about investment opportunities in the state.

Chief Minister Fadnavis engaged with senior business executives on important topics that have dominated the bilateral commercial relationship in recent months and addressed areas such as Maharashtra’s comparative edge as an investment destination, regulatory reform measures that have been undertaken by the government to promote ease of doing business in the state, and cultural dialogues that can enhance the bilateral relations between India and the United States.

Emphasizing the investment opportunities that are available in Maharashtra, Chief Minister Fadnavis said, “The Government has taken a variety of measures to promote ease of doing business in the state and we want to be viewed as a top destination for both domestic as well as international investments. The state eagerly awaits the formation of joint ventures in critical projects such as the Delhi - Mumbai Industrial corridor, Smart Cities and in sectors such as manufacturing, agriculture, aviation, engineering and IT. Our Government is committed to providing a boost to both Make in India and Make in Maharashtra campaigns, provide business to both medium and small enterprises and create much-needed jobs. We invite investors from the United States to be a part of Maharashtra’s growth story.”

Lauding the vision of Chief Minister Fadnavis, Mukesh Aghi, President of USIBC, said, “The Council’s member companies have been encouraged by the ease of doing business in Maharashtra. Many of the companies have significant investments in the state. Therefore, appropriate and timely policy measures are critical. USIBC and member companies look forward to participating in the state’s investment opportunities that will not only promote entrepreneurship, but also inclusive growth, positioning it as a model state both in India and globally. I have no hesitation in saying that the state has the potential to emerge as a high ranking state on the ease of doing business index.”

Ashok Vasudevan, Chairman and CEO of Preferred Brands International, manufacturer and marketer of the natural foods brand, Tasty Bite, said, “Tasty Bite has been operating in Maharashtra since the early 90’s and has become one of India’s largest exporter of prepared foods. The state is remarkably resilient due to its diversified base of industry that includes energy, agriculture, food processing, entertainment, engineering, chemicals, pharmaceuticals and financial services. The infrastructure, a mature workforce, a series of business friendly administrations over the last few decades makes it an attractive FDI destination.”

The event was also attended by companies and senior leaders from every major sector of business— Monsanto, Taj Hotels, HSBC, Caterpillar, Cargill, Johnson and Johnson, KPMG, Baker & McKenzie, Citi, New Silk Route and Pfizer.

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US India Business Council hosts Executive Committee Briefing

USIBC hosts Executive Committee Briefing for U.S. Ambassador to India, Richard Verma

WASHINGTON, D.C. June, 7 – The U.S.-India Business Council (USIBC) hosted an Executive Committee briefing for United States Ambassador to India, Richard Verma.

“Ambassador Richard Verma’s current visit to Washington D.C. comes at a key moment in U.S.-India bilateral trade and commercial ties. Trade between the United States and India is poised to grow from $100 billion to the $500 billion in the next few years. USIBC member companies are united in their efforts and actions to build both the Indian and U.S. economies as attractive destinations for investment and to create jobs and opportunities for citizens to grow and prosper. To turn this vision into reality, we need a strong foundational relationship between governments and businesses,” said Dr. Mukesh Aghi, President of USIBC. He further said, “Ambassador Verma’s distinguished record in public service as well as the private sector, positions him in a unique way to promote the interests of American enterprise in India, while fostering good will and cooperation between the two countries.”

The Council currently has eleven Executive Committees, covering every major business sector— Aerospace & Defense, Information Technology, Energy and Environment, Financial Services, Food & Agriculture, Infrastructure, Legal Services, Media & Entertainment, Life Sciences, Real Estate and Retail Trade. USIBC develops its advocacy positions in collaboration with these committees which are chaired by senior executives of member companies.

As part of the briefing, USIBC Executive Committee Chairs had an opportunity to present ideas and recommendations to Ambassador Verma that have the potential to fast track India’s economic progress in areas such as ease of doing business, proactive taxation and policy consistency.

Ambassador Verma has been a key figure dedicated to strengthening U.S-India bilateral relations since assuming his diplomatic role in December 2014. Prior to his appointment as the U.S. Ambassador to India, Ambassador Verma served as former Assistant Secretary of Legislative Affairs. Within the private sector, Ambassador Verma served as a partner at Steptoe & Johnson LLP and Albright Stonebridge Group. He has extensive knowledge and expertise in international law and global regulatory compliance with a specialization in Asia and emerging markets.

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