update – september 2016

September 2016 | Vol V | Issue 2AmCham - The Voice of American Business in India

• AmCham-GIPCIPRInteractiveSessiononIndia'sNationalIPRStrategy-AViewFromGlobalInnovators

• LuncheonSessionwithAmbassadorRobertHolleyman,DeputyU.S.TradeRepresentative

• FarewellforU.S.ConsulGeneralMichaelMullins

• InteractiveSessionon“ForeignDirectInvestment–TakingtheAgendaForward”

• InteractiveBreakfastSessionon"TheWestBengalTransportPolicyandInvestmentOpportunity"

• “TaxTransparencyAhoy!”writtenbyVikasVasalChairman,AmChamTax,Tariff&RegulatoryCommitteeandPartner,Tax,KPMG

HIGHLIGHTS

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Ms.MeenuChandra,Chair–AmChamIPRCommitteeandSeniorAttorney,CorporateLegalandExternalAffairs,Microsoft

Mr.AtulDhawan,HonoraryTreasurer,AmChamandRegionalManagingPartner,Deloitte,withMr.RameshAbhishek,Secretary,DIPP

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AmChamandGIPC InteractiveSessionon India’sNational IPRPolicy –AViewFromGlobalInnovators

12Interactive Session on “Foreign DirectInvestment – Taking the AgendaForward”

18Interactive Session on InvestmentOpportunitiesinWestBengal

20TaxTransparencyAhoy!”writtenbyVikasVasal Chairman, AmCham Tax, Tariff &RegulatoryCommitteeandPartner,Tax,KPMG

23Farewell for Consul General MichaelMullins

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Interactive Session with AmbassadorRobert Holleyman, Deputy U.S. TradeRepresentative

Breakfast Meeting on ‘Make inIndia: CEOs Speak on the BusinessEnvironmentinIndia’

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EventsAmCham

Issue 2September 2016

Office Bearers

Chairman

Mr. Pratyush Kumar

President

Boeing India

Vice Chairmen

Mr. Richard Rekhy

Chief Executive Officer

KPMG in India

Mr. Gulshan Kumar Sachdev

Managing Director

Quaker Chemical India Limited

Hon. Secretary & Treasurer

Mr. Atul Dhawan

Regional Managing Partner

Deloitte Touche Tohmatsu India LLP

Board Members

Ms. Rekha M. Menon

Chairman

Accenture India

Mr. Varun Khanna

Managing Director

Becton Dickinson India Pvt. Ltd.

Mr. Venkatesh Kini

President & CEO – India and South West Asia

Coca-Cola India Pvt. Ltd.

Mr. Arun Kumar Jain

Managing Director

Fluor Daniel India Pvt. Ltd.

Mr. Kaher Kazem

President and Managing Director

General Motors India Pvt. Ltd.

Mr. Nick Mitchell

Managing Director

Phenomenex India Pvt. Ltd.

Mr. Krish Iyer

President and CEO

Wal-Mart India Pvt. Ltd.

Dr. Kiranmai Pendyala

CVP HR Greater Asia

AMD R&D Center India Pvt. Ltd.

Mr. Madan Mohan Rao Yalamanchili

Executive Chairman

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

NATIONAL EXECUTIVE BOARD 2016-17

Wecongratulatethecentralandstategovernmentsof IndiaonGST.This isafarreachingreformthatwillaccelerateIndia’seconomicgrowthandinvestmentincludingfromtheU.S.ReachingconsensusonGST,amongallthestatesandthecentralgovernment,istrulyunprecedentedandremarkable.

TobetterunderstandtheimplicationsofthenewNationalIPRPolicy,weheldapaneldiscussionwithacademicandgovernmentexperts,aswellas industryrepresentatives. In his keynote address Mr. Rajiv Aggarwal, Joint Secretary,DIPP,Governmentof India,elaboratedonthetremendousstrides inreducingthe timelines regarding patents and trademark filings and emphasized thegovernment’s duty to recognize innovation and IP. Panelists highlighted theabilityofstrongIPprotectionstodrive innovationandtheneedforanaction-orientedapproachtowardsthepolicy.Discussionrevolvedaroundthehitsandmisses in the National IPR policy and on the effective implementation for asynchronizationbetweenpracticeandpolicy.

AmChamhadanopportunitytointeractwithAmbassadorHolleyman,DeputyU.S.TradeRepresentative,whoemphasizedUSTR’ssingularfocusofcreatingastronger,unifiedtraderelationshipbetweentheU.S.andIndia.Asaprecursorto the upcoming 10thU.S. – India Trade Policy Forum (TPF)whichwill takeplaceinNewDelhiinOctober,thediscussionfocusedonthedigitaleconomy,manufacturingandagriculture.Healsomentionedthe“Digital2Dozen,”alistofprinciplesembodiedintheTransPacificPartnership(TPP).TheTPPincludescutting-edge obligations that are designed to promote the digital economythroughafreeandopeninternetandcommercewithoutborders.

InitiativesbytheGovernmentofIndia,suchasthe“MakeinIndia”campaign,have already started bearing results.While growth and investments in someof thecoresectors remainamatterof concern, theeconomy isexpected todo better inmonths to come. Similarly, “Start-Up India” will supplement thegovernment’seffortstoencouragemanufacturinginIndia.TheprogramsprovideglobalrecognitiontotheIndianeconomy,facilitateinvestmentandbuildbest-in-classmanufacturinginfrastructure.ItemphasizestheneedforproductioninIndia,eitherbyIndiancompaniesorMNCs.Themanufacturingcommitteemetanddiscussedthewayforward,potentialstate-wiseengagement,knowledgesharingforbestpractices,industrychallenges(suchaslaborlaws,supplychain,BIS,etc.)andhowtobestshowcaseAmericancompaniesthat“MakeinIndia.”

We also hosted U.S. speaker Juan Sabater who addressed members onbusiness opportunities and investment climate in fostering start-ups andboostinginvestmentforU.S.companies.

As thechanges inFDIstart tostirup the Indianeconomy,weconductedaninteractivesessionon“ForeignDirectInvestment-TakingtheAgendaForward”in association with BBG, EBG and knowledge partners Deloitte and KPMG.

Chairman’s Message

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NATIONAL EXECUTIVE BOARD 2016-17

The keynote address was delivered by Mr. Ramesh Abhishek, Secretary,DIPP in the inaugural session, which also included a theme presentation byMr.RichardRekhy,ViceChairman,AmChamandCEOKPMG.Mr.AtulDhawan,HonoraryTreasurer,AmChamandRegionalManagingPartner,Deloitte,inhiswelcome address, spoke about the significance of viable eco-systems thatinspireinvestors’confidenceandpromoteeaseofdoingbusinessforexistingandpotentialforeigninvestors.Thetwopaneldiscussionscoveredtheoveralldevelopmentsandrecentrelaxationsinsectorsofaviation,defense,retailandmanufacturing.Mr. IshtiyaqueAhmed,Director,DIPP,andMr.DeepakBagla,ManagingDirector&CEO,InvestIndia,talkedaboutthegovernmentinitiativesandpolicychanges,andalsointeractedwithparticipantsonthechallengesandwayforward.

Mr.AlapanBandyopadhyay,IAS,PrincipalSecretary,DepartmentofTransport,ViceChairman,NabadigantaIndustrialTownshipAuthority&ManagingDirector,West Bengal Transport Infrastructure Development Corporation, outlined thestrategicimportanceofthestateofWestBengalandthecityofKolkatainthecontextofopportunitiesfortheIndianeconomyasawhole.

We had an opportunity to meet the Deputy National Security Adviser forInternationalEconomicAffairsandDeputyAssistanttoPresidentBarackObama,Mr.Adewale“Wally”Adeyemo,alongwiththeSpecialAssistanttothePresidentonInternationalEconomicAffairs,Mr.HimDas.Thediscussionrevolvedaroundchallengesfacedindoingbusinessandkeyimprovementsinthepastyearwiththepresentgovernment indefense,aviation, infrastructure, investment,smartcities,etc.WediscussedhowAmericancompaniescanbemorecompetitivecomparedtolocalandthirdcountrycompetitors.Thecurrentworkforceinthecountry, theeffectivenessofU.S.- Indiaeconomicdialoguestructure,anditsimpactinadvancingU.S.industryprioritieswasalsomentioned.

ThesmartcityprogramsforthestateofMadhyaPradeshhasbeendiscussedwith the threedesignatedsmartcitiesBhopal, IndoreandJabalpur.Mr.NSNMurty,ExecutiveDirector&SmartCities LeaderatPwC,gave insighton thesmartcityvisions,thespecialpurposevehicle(SPVs),thefundingmechanismsandprivatesectorparticipationmodelsforthethreecities.Hehighlightedtheprioritydevelopmentalprojectsandproposedpan-cityinitiativesthatareundervariousrolloutstages.

Memberswereinvitedtoaninteractivesessionfocusedonrecentdevelopmentspertaining to FCPA and key case studies in these areas and what leadingmultinationalorganizationsaredoinginIndiatoaddresstheadditionalrisks.

The CSR committee has been in discussion on how to utilize the 2% CSRbudgetandtheambiguityofit.TheyaimtoaddressconcernswiththeMinistryofCorporateAffairs.WelookforwardtoourCSRphotoexhibitioninassociationwiththeU.S.Embassy,anexcellentopportunitytoshowcasethewayAmericancompaniesgivebacktoIndia.

TheHyderabadChapterbidfarewelltoConsulGeneralMichaelMullinsforhiscommitmenttoU.S.-IndiarelationsandsupporttoAmCham.

AsIwritethismessage,boththeU.S.andIndiangovernmentsaredeliberatingontheU.S.-IndiaStrategicandCommercialDialogue,whichentailsdiscussionon important issues relating to trade, innovation, entrepreneurship, doubletaxationofincome,movementoflabor,etc.

Mr. Pratyush KumarChairman, AmCham

Dr. Pradip K. Dutta

Corporate Vice President & Managing Director

Synopsys (India) Pvt. Ltd.

Mr. Iqbal Sait

Head of Asia Operations

Saggezza India Pvt. Ltd

Mr. K. P. Sengupta

Chairman

Data Core (India) Pvt. Ltd.

Mr. Rustom J. Desai

Managing Director

Corning India and Telecom Operations

Mr. Ramkumar Ramamoorthy

Senior Vice President, Marketing, Corporate Affairs and Communications

Cognizant Technology Solutions

Mr. A. Viswanathan

Dy. Managing Director

BS&B Safety Systems India Limited

Mr. Sukanti Ghosh

Managing Director, India

APCO Worldwide India Pvt. Ltd.

Ms. Kaku Nakhate

President & Country Head (India)

Bank of America N.A.

Immediate Past Chairperson

Ms. Vanitha Narayanan

Managing Director

IBM India Pvt. Ltd.

Honorary Members

Mr. John M. McCaslin

Minister Counselor for Commercial Affairs

U.S. Embassy

Mr. George N. Sibley

Minister Counselor for Economic Affairs and Environment, Science and Technology

U.S. Embassy

Special Invitee

Mr. C. R. Dua

Managing Partner

Dua Associates

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DELHI

On7thJuly2016,adiversegroupofindustry,academicandgovernmentexpertsgatheredtosharetheirviewsontheprospectsoftheinnovativeenvironmentinIndiainthewakeoftheNationalIPRPolicy.ThepanellistshighlightedtheabilityofstrongIPprotectionstodriveinnovationandthe need for an action-oriented approach towards thepolicy.

AmCham and GIPC Interactive Session on India’s National IPR Policy – A View From Global Innovators

Ms.MeenuChandra,Chair –AmCham IPRCommitteeand Senior Attorney, Corporate Legal and ExternalAffairs,Microsoft,gavetheopeningremarkswhichwerefollowedwiththekeynoteaddressbyMr.RajivAggarwal,JointSecretary,DIPP,GovernmentofIndia.

Ms.SanjitKaurBatra,Co-Chair–AmChamIPRCommitteeandLegalHead–SouthAsia,E.IDuPont

Ms. Komal Kalha, Senior Counsel, U.S. Patent andTrademarkOffice(USPTO)

Mr.RajivAggarwal,JointSecretary,DIPP,GovernmentofIndia

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LtoR:Dr.BrijUberoi,CEO,CropLife,Ms.KomalKalha,SeniorCounsel,U.S.PatentandTrademarkOffice(USPTO),Ms.SanjitKaurBatra,Co-Chair–AmChamIPRCommitteeandLegalHead–SouthAsia,E.IDuPont,Ms.ArchanaShankar,Partner,Anand&AnandandMr.PulakBagchi,SVP,StarIndiaPvt.Ltd.

LtoR:Ms.LohitaSujith,Director–CorporateCommunications,MPAA,Mr.NarendraSabharwal,Chair,FICCI–IPRCommittee,Ms.KalpanaReddy,SeniorDirector,GIPC,Ms.SheetalChopra, IndiaLead– IPRPolicy,Ericsson IndiaLtd.andMr.BKSahu,DeputyManager–IPR,NationalResearchDevelopmentCorporation(NRDC),MinistryofScienceandTechnology,GovernmentofIndia

Therewere twopaneldiscussions.Panellists in thefirstsessionshared theirviewson thehitsandmisses fromthe National IPR Policy. The panel was moderated byMs. Kalpana Reddy, Senior Director, GIPC and otherpanellistsincludedMs.LohitaSujith,Director–CorporateCommunications, MPAA, Ms. Sheetal Chopra, IndiaLead – IPR Policy, Ericsson India Ltd., Mr. BK Sahu,DeputyManager–IPR,NationalResearchDevelopmentCorporation(NRDC),MinistryofScienceandTechnology,GovernmentofIndiaandMr.NarendraSabharwal,Chair,FICCI–IPRCommittee,Ex.ConvenerMember,IPRPolicy

ThinkTank,GOI,FormerDeputyDirectorGeneral,WorldIntellectualPropertyOrganization.

Inthesecondsession,panellistssharedtheirviewsontheeffective implementation for a synchronisation betweenpracticeandpolicy.ThesessionwasmoderatedbyMs.SanjitKaurBatra,Co-Chair –AmCham IPRCommitteeandLegalHead–SouthAsia,E.IDuPontandtheotherpanellistsincludedMs.ArchanaShankar,Partner,Anand&Anand,Mr.PulakBagchi,SVP,StarIndiaPvt.Ltd.,Ms.KomalKalha,SeniorCounsel,U.S.PatentandTrademarkOffice(USPTO),andDr.BrijUberoi,CEO,CropLife.

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Interactive Luncheon Session with Ambassador Robert Holleyman, Deputy U.S. Trade Representative

Ms.YashodharaLal,Genpact,speakingtocommitteemembers

CSR Committee Meeting

AmCham’s CSR Committee meeting took place inGurgaon on 15th July under the new leadership ofMr.HarishKrishnan,ExecutiveDirector,PublicAffairs&StrategicEngagements,India&SAARC,Cisco.

Thefollowingpointswerediscussed:

• Utilizingthis2%CSRbudget–theambiguityofit

• Addressingconcernswith theMinistryofCorporateAffairs

• ViewsonsettingupanAmChamFoundation

• Co-creationofpossibilitiestogether

The meeting began with introductions by everyonepresent.Eachpersonexplainedthevariousprojectstheywere engaged in. Potential partnership opportunitiesin each and every projectwerediscussed in detail. Aneffortwasputintounderstandingtheproject,challenges,logistics,locationconstraintsandthenconnectingpeoplethereand then if required. Itwasdecided todevelopacommunicative directory with such information for allAmCham members which will serve as an importanttoolkitfortheindustry.

DuringourNGOshowcase,Magic Bus Foundationtalkedabouttheiramazingprojectofsteeringchildrentowardsabetter lifewithbetterawareness,better lifeskills,andbetter opportunities, in the journey from childhood tolivelihood.

Mr.HarishKrishnanthankedallmembers,aswellastheMagic Bus Foundation,fortheirparticipation.

CSR Committee Members with Mr. Harish Krishnan,ChairmanCSRCommitteeandExecutiveDirector,PublicAffairs&StrategicEngagements,India&SAARC,Cisco

On25th July2016,AmChamandUSIBCco-hostedaninteractivesessionwithAmbassadorRobertHolleyman,Deputy U.S. Trade Representative, at ACSA, U.S.Embassy, New Delhi. The USTR team also includedDawnShackleford,Deputy AssistantUSTR, andConorHarrington,IPRDirector,USTR.

Ambassador Holleyman emphasized USTR’s singularfocus of creating a stronger, unified trade relationshipbetween the U.S. and India. They continue to haveregular dialogueswithGOI. The upcoming 10thU.S. –India Trade Policy Forum (TPF) will take place in New

DelhiinOctober.TheteamwasintowntomeetwiththeircounterpartsattheDepartmentofCommerceandDIPPtopreparefortheTPF.Hementioned,thenewITpolicyhasbeenencouragingeventhoughthepaceofreformmaybeslower thandesired.Someof theareas focusedonforthisvisitincludedthedigitaleconomy,manufacturingand agriculture, to understand where there are pointsof friction and try to minimize it. They also mentionedpatents, tradesecrets, localsourcing requirementsandtrade facilitation. USTR has had positive engagementin the copyright sector as India has consolidated theircopyrightfunctionsintotheDIPP.

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Breakfast Session with Protiviti – FCPA Face Off

The AmCham FCPA breakfast session with Protiviti, tookplaceon27thJuly,2016 inGurgaon. Thesessionbeganwithapresentationentitled“GoingBeyondtheHeadlines–DissectingrecentFCPAcasesandlearningfromthem”byVikas Mehta, Senior Manager, Forensic Services, ProtivitiIndia.Theobjectivewastoprovokeadebateonhowtobebetterequippedtohandlesucheventualities.Next,Suprabhat

NM,ManagingDirector&Leader,ForensicServices,ProtivitiIndia, spoke on “Wrestling with FCPA – Discussing thefinernuances through illustrativeexamples.”An interactivediscussionfollowedthathighlightedthepracticalchallengesaroundFCPAcompliance.ThesessionconcludedwithacalltoactionanddiscussiononthecomponentsofalocalFCPAfitnessprogram.

Ambassador Holleyman mentioned the “Digital 2Dozen,”alistofprinciplesembodiedintheTransPacificPartnership (TPP). The TPP included cutting-edgeobligationsaredesignedtopromotethedigitaleconomythroughafreeandopeninternetandcommercewithoutborders.

Someofthechallengesandopportunitieshighlightedbyparticipantswerefromthefollowingsectors:

• Agriculture

• E-commerce

• ICT

• Insurance

• IPR

• Medicaldevices

• Pharmaceuticals

ItwasmentionedthattheupcomingU.S.–IndiaStrategicandCommercialDialoguewillhaveafocusonstandards.

ParticipantsatanengagingsessiononFCPATrendsbyProtiviti

LtoR:Mr.ConorHarrington,IPRDirector,USTR,Ms.DawnShackleford, Deputy Assistant USTR, and AmbassadorRobertHolleyman

Speaker–Mr.VikasMalhotra,Protivitidiscussingacasestudyon‘Hitachi’

AmbassadorHolleymandiscussingtheTradePolicyForum

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Chairman,Mr.D.P.Singh,VicePresident–HR(India/SouthAsia),IBMandCo-Chairman,Mr.SameerMathur,SeniorVicePresidentHR,CitibankwithHRCommitteemembers

HR Committee Meeting

ThesecondmeetingofAmCham’sHRCommitteewasheld on 29th July 2016 in Gurgaon at the IBM officeunder the leadership ofMr. DP Singh, Chairman – HRCommitteeandVP–HR(India/SouthAsia),IBMIndiaandMr.SameerMathur,Co-ChairandSVP–HR,Citibank.

ApresentationonAmChamandanoverviewof theHRcommitteewasmade.

Thefollowingcharterswerepresented:

• Labor Reforms – Seema Ajwani, ER/LR, CaseManagement & Appeals Leader, IBM, gave a veryinsightful presentation to the group. Seeing the

response and excitement, it was decided that thecommitteewoulddoamorethoroughsessiononthesameforothermemberstoshareknowledge.Somesubjectmatterexpertswouldbeinvitedtofacilitateit.

• FutureofWorkCharter–SarthakRaychaudhuri,HRLeader,WhirlpoolIndia,presentedthefutureofworkcharter.Therewasadiscussionwithinthecommitteeonpotentialkeyinterestareas,commonissuesandchallenges which needed to be addressed by thecharter.

Mr.Singhconcludedtheeventandthankedthecommitteemembersfortheirparticipation.

Meeting with Deputy National Security Adviser for International Economic Affairs, Mr. Adewale “Wally” Adeyemo

On 29th July, AmChammembersmetwith theDeputyNational Security Adviser for International EconomicAffairs(DNSA)andDeputyAssistanttoPresidentBarackObama, Mr. Adewale “Wally” Adeyemo, the SpecialAssistant to the President on International EconomicAffairs, Mr. Him Das, and his team comprising of theDirector, National Security Council and representativesfromtheU.S.Embassy,NewDelhi.

Members discussed the challenges faced in doing

businessandkeyimprovementsinthepastyearwiththepresent government in defense, aviation, infrastructure,investment,smartcitiesetc. Itwasalsodiscussedwhatis holding back infrastructure investment in India andhow American companies can be more competitivecompared to local and third country competitors. Thecurrent work force in the country, the effectiveness ofU.S.- Indiaeconomicdialoguestructure,and its impactinadvancingU.S.industryprioritieswasalsomentioned.

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AmChammembersandU.S.EmbassyofficialswiththeDeputyNationalSecurityAdviserforInternationalEconomicAffairs(DNSA)andDeputyAssistanttoPresidentBarackObama,Mr.Adewale“Wally”Adeyemo

Manufacturing Committee Meeting

ThefirstmeetingofAmCham’sManufacturingCommitteefor the year 2016-17 under the chairmanship of Mr.Rampraveen Swaminathan, President & ManagingDirector, International Paper India Pvt. Ltd. and co-chairmanshipofMr.SanjayKoul,Chairman&ManagingDirector, Timken IndiaLimited,washeldon3rdAugustinNewDelhi.Thecommitteediscussedthewayforward

for the committee, potential state-wise engagement,knowledgesharingforbestpractices,industrychallenges(such as labor laws, supply chain, BIS, etc.) and howto best showcase American companies that “Make inIndia.”Itwasalsodecidedtoreachouttoallcommitteememberstogatherthemostcommonindustryissues.

ManufacturingCommitteemembers

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KeynoteaddressbeingdeliveredbyMr.RameshAbhishek,Secretary,DIPP

Interactive Session on “Foreign Direct Investment – Taking the Agenda Forward”

On3rdAugust,aninteractivesessionwasorganizedon“ForeignDirectInvestment-TakingtheAgendaForward”in associationwithBBG,EBGandknowledgepartnersDeloitte&KPMG.ThekeynoteaddresswasdeliveredbyMr.RameshAbhishek,Secretary,DIPP in the inauguralsession,whichalsoincludedathemepresentationbyMr.RichardRekhy,ViceChairman,AmChamIndiaandCEOKPMG.Mr.AtulDhawan,HonoraryTreasurer,AmChamandRegionalManagingPartner,Deloitte,inhiswelcomeaddress, spoke about the significance of viable eco-systems that inspire investors’confidenceandpromoteease-of-doing-businessforexistingandpotentialforeigninvestors.Ms.KakuNakhate,BoardMember,AmChamIndiaandPresident&CountryHead,BankofAmerica,contributed a presentation froma banker’s perspective

covering aspects of how the country is poised formilestonegrowthtargetswhichwillhavetobepropelledbyhugespurtsofinvestmentsacrosskeyprioritysectorscomingfromwithinandoutsideofIndia.

Twopaneldiscussionsfollowedwhichcoveredtheoveralldevelopmentsandrecentrelaxationsinsectorsofaviation,defense, retail andmanufacturing.Companies such asKPMG, Deloitte, Boeing, Walmart, International Paper,TimkenandIkeawererepresentedinthesesectors.Mr.IshtiyaqueAhmed,Director,DIPP,andMr.DeepakBagla,Managing Director & CEO, Invest India, talked aboutthegovernmentinitiativesandpolicychanges,andalsointeractedwith participants on the challenges andwayforward.

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Ms.MadhviKataria,DeputyExecutiveDirector,AmChamwelcomingtheguests

Audienceenthralledbythepaneldiscussion

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LtoR:Mr.RohintonSidhwa,Partner, InternationalTaxation,DeloitteHaskins&SellsLLP,Mr.SanjayKoul,Co-Chairman,AmChamManufacturingCommittee;andChairmanandManagingDirector,TimkenIndiaLimited,Mr.MichaelKoch,VicePresident,BoeingIndiaDefense,Space&Security,Mr.AmberDubey,Co-Chairman,AmChamAviationCommittee;andPartnerandHead-AerospaceandDefence,KPMG,Ms.PreetDhupar,ChiefFinancialOfficer,IKEAGroupIndiaandMr.AnilTalreja,Partner,DeloitteHaskins&SellsLLP

LtoR:Mr.AmarjeetSingh,Partner,KPMG,Mr.IshtiyaqueAhmed,Director,DIPP,Mr.DeepakBagla,ManagingDirector&CEO,InvestIndia,Mr.KrishIyer,Member,AmChamNationalExecutiveBoard;andPresident&CEO,WalmartIndia,Mr.RampraveenSwaminathanChairman,AmChamManufacturingCommittee;andPresident,InternationalPaperandMr.RobertKemp,ActingMinister-Counselor,EEST(Economic,Environment,Science,&TechnologyAffairs)U.S.Embassy

Mr.RobertKemp,ActingMinister-Counselor,EEST(Economic,Environment,Science,&TechnologyAffairs),U.S.Embassy

Mr.MichaelKoch,VicePresident,BoeingIndiaDefense,Space&Security

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Smart City Overview of Madhya Pradesh (Conference Call)A teleconference call was organized on 10th August withMr.NSNMurty,ExecutiveDirector&SmartCitiesLeaderatPwC, todiscussandunderstand thesmart cityprogramsfor the state of Madhya Pradesh. The focus was on thethreedesignatedsmartcitiesBhopal,IndoreandJabalpur.Mr. Murty gave a detailed walk through of the smart cityvisions, the special purpose vehicle (SPVs), the fundingmechanisms and private sector participation models for

the three cities. He highlighted the priority developmentalprojects and proposed pan-city initiatives that are undervariousrolloutstages.AlargeroutreachplanforAmChammembercompanieswitheachSPVwasdiscussedaswell.Companies thatparticipated includedHoneywell, 3M,UL,UTC, Trimble, OshKosh, Xylem, Ch2M, Louis Berger, HP,MotorolaSolutions,IngersollRandandIBM.

Meeting with Mr. Munu Mahawar, Joint Secretary (Americas), Ministry of External Affairs

Mr.PratyushKumar,Chairman,AmChamandPresident,BoeingIndia, and Ms. Madhvi Kataria, Deputy Executive Director,AmCham, called on Mr. Munu Mahawar, Joint Secretary(Americas),MinistryofExternalAffairs,on18thAugust2016in

hisofficeanddiscussedU.S.-IndiarelationsaheadoftheU.S.-IndiaStrategicandCommercialDialogue tobeheldon30thand31stAugustinNewDelhi.

AmCham – KPMG – Deloitte Conference Call on GST - Road Ahead for Industry

AmCham, along with KPMG and Deloitte, organized aconferencecallon“GST–RoadAheadforIndustry”on23rdAugust2016.Thespeakerswere:

• Mr. Vikas Vasal, Chairman AmCham’s Tax, Tariff &RegulatoryAffairsCommitteeandPartner,HeadDealAdvisory,M&ATax(North),KPMGinIndia

• Ms.NeeruAhuja,Co-ChairpersonAmCham’sTax,Tariff&RegulatoryAffairsCommitteeandPartner,BusinessTax,DeloitteHaskins&SellsLLP

• Mr. Sachin Menon, Partner & Head of Indirect Tax,KPMGinIndia

• Ms.AnjlikaChopra,SeniorDirector,DeloitteHaskins&SellsLLP

• Mr. R. Sridhar, Vice President - Taxation, HindustanCoca-ColaBeveragesPvt.Ltd.

SubjectscoveredwerethelikelydateofGSTimplementation,likely rateofGST,past credit, input credit, continuationofexportandstateincentives,valuationrules,etc.

AmCham has already made one representation on GSTtotheMinistryofFinance.Ifmoreinputsarereceivedfrommembers, another representation would be made andpresented to theMinistry of Finance and the EmpoweredCommitteeofStateFinanceMinisters.

L toR:Mr.DeepakBagla,ManagingDirector&CEO, Invest India,Mr.Krish IyerMember,AmChamNationalExecutiveBoard;andPresident & CEO, Walmart India, Mr. Rampraveen Swaminathan Chairman, AmCham Manufacturing Committee; and President,InternationalPaper

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KOLKATAEastern Region Members Meeting

On 8th July 2016, AmCham Eastern Region organizedanEasternRegionmembersmeetinghostedbyMr.K.P.Sengupta, Chairman ER. The purpose of themeetingwas to explain to members the role of AmCham bothin the Eastern Region, the national level, includingthe secretariat, and the benefits that are derived frommembershipandtogetmembersviewsandopinionsonthe roadmap thatshouldbe followedby theERwhichwouldbeinlinewiththenationalagenda.

The meeting was opened by Mr. K.P. Sengupta whoexplainedtomembersthenationalagendaandthiswas

followedbyapowerpointpresentationby theRegionalDirector, Amada Kidwai, on the various aspects ofmembership.Mr.AmitMallik,amemberoftheexecutivecommittee,walkedmembersthroughallthebenefitsandhighlightedAmCham’sERroleintryingtogetinvestmentsintoWestBengalbyorganizingroadshowsattherequestof the West Bengal Government both in Delhi andBangalore.Memberspresentputforwardtheirviewsandsuggestedevents that theywouldbe interested in. Themeetingwasbought toaclosewith thanks to thechairandwasfollowedbyhightea.

Interactive Breakfast Session on “The West Bengal Transport Policy and Investment Opportunity”

Mr. Alapan Bandyopadhyay, IAS, Principal Secretary,Department of Transport, Vice Chairman, NabadigantaIndustrialTownshipAuthority&ManagingDirector,WestBengalTransportInfrastructureDevelopmentCorporation,addressedAmChamEasternRegionmembersonFriday,July 15, 2016 at The Hyatt Regency Kolkata, as chiefguest,atan interactivebreakfastsessionon“TheWestBengalTransportPolicyandInvestmentOpportunity.”

In his opening remarks Mr. Bandyopadhyay outlinedthe strategic importance of the state of West Bengaland the city of Kolkata in the context of opportunitiesfortheIndianeconomyasawhole.HepointedoutthatKolkata is the gateway to the east and is the largestcity inmanyhundredkilometers inanydirection. In thiscontext,Mr.Bandyopadhyaypointedoutthecriticalityofthetransportationsystembothwithinthecityaswellasatrans-shipmentlocation.Mr.Bandyopadhyaymentionedthat significant investments have been planned indeveloping the inland waterways and that this wouldbe transformational for the eastern region economy.Goodswouldbe transported fromupcountryalong thewaterways to markets in the east and north east andto neighboring countries. A deep sea port would bedevelopedatSagarIslandwhichwouldresultinrestoringthestrategiccommercialimportanceofKolkata.

TheinfrastructureofthecityofKolkataisbeingupgradedto address the requirements of the future. A three-

prongedpolicy in this regard has been adopted in thetransportsector:

(A)Strengtheningandupgradingservicesbeingprovidedby the state transport undertakings and continuing toenhancetheefficiencies

(B) Regulating services being provided by the privatesector

(C)Strengtheningofinfrastructurefacilities

Transportundertakingsofthestateplayapivotalroleinthesphereofpassenger transportationon roadaswellas on water transport sector through their state widenetworks. The public transport sector is essential forproviding transportservices toareascoveredbyroutesthatarenotremunerative,astheseareavoidedbyprivatetransportoperators.Thestategovernmenthas,therefore,been expanding and upgrading the state transportundertakings. Efforts have beenmade to improve theefficiencyoftheseundertakingsby improvingoperatingstandards and by strengthening the infrastructure ofthese undertakings with funds from different sources.Consequently, the state transport undertakings areadoptingcertainmeasureslike:

• Increasing the average number of buses/trams onroadsperday

• Increasingthepercentageoffleetutilizationagainstthefleetstrength

• Reducingthestaff-busratio

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• Renovationofbuses

• IncreasingKMPLrate

• Utilizationofunusedorunder-usedlandandspacestoincreaserevenue

TheintroductiontothesessionwasdonebyMs.AmadaKidwai, Regional Director – Eastern Region, AmCham,Mr.JoydeepDattaGupta,AmChamECmemberdidthewelcomeremarks,Mr.GulshanSachdev,ViceChairman,AmCham, gave the concluding remarks andMs. BrittaLeick-Mildegavethevoteofthanks.

Mr.AlapanBandyopadhyay,IAS,PrincipalSecretary,DepartmentofTransport,ViceChairman,NabadigantaIndustrialTownshipAuthority&ManagingDirector,WestBengalTransportInfrastructureDevelopmentCorporation,addressingtheEasternRegionmembers

Ms.AmadaKidwai,RegionalDirector–EasternRegion,givingthewelcomeremarks

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Dr.KrishnaGupta,IAS,PrincipalSecretary,Commerce&IndustryandPublicEnterprise&IndustrialReconstruction,GoWB,talkingaboutthesurpluspowerinWestBengal

Interactive Session on Investment Opportunities in West Bengal

AmCham, in association with the Government of WestBengal, organizedan interactive sessionon investmentopportunities in West Bengal on 25th July in NewDelhi. The objective of this interaction was to exploreopportunitiesand identifysolutions for transforming thestate of West Bengal into a world class business andcommercialdestination.

Ms.MadhviKataria,DeputyExecutiveDirector,AmCham,in her welcome address, said that the West BengalGovernment had undertaken a number of initiatives topromote West Bengal as an investment destination.Some of the areas where American businesses canpartner with the state ofWest Bengal are in the areasof healthcare, education, manufacturing, e-commerce,logistics,infrastructure,IT,etc.

TheGoWBwasrepresentedbyDr.KrishnaGupta, IAS,

Principal Secretary, Commerce & Industry and PublicEnterprise & Industrial Reconstruction, Mr. SurendraGupta, IAS, Managing Director, West Bengal IndustrialDevelopment Corporation (WBIDC) and Mr. KaushickSaha,WBCS,ExecutiveDirector,WestBengalIndustrialDevelopment Corporation (WBIDC). Opportunities forinvestment in the following sectors were discussed:manufacturing, IT software & hardware, urbaninfrastructure & housing, tourism and entertainment,MSME and textiles, healthcare, education and skills,energy and infrastructure, transport services, maritime,defense, gas, automobile and auto ancillaries, andpharmaceuticals.Opportunities in the six “green cities”in West Bengal were also highlighted. Dr. Gupta alsoemphasized that West Bengal was the natural hub forconnectivitytothenortheasternstatesaswellastosouthAsian countries. He highlighted that there was surplus

LtoR:Ms.MadhviKataria,DeputyExecutiveDirector,AmCham,Dr. Krishna Gupta, IAS, Principal Secretary, Commerce &Industry and Public Enterprise & Industrial Reconstruction,Mr. Amrit Kiran Singh, Mr. Debdas Sen, AmCham EasternRegionCo-ViceChairmanandCEOTCGDigital Mr.AmbrishBakaya,HewlettPackardIndia,posingaquestion

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power in thestateandno labour issues in the last fiveyears resulting in no loss ofman-days in the state.HeextendedaninvitationtoallmemberstoparticipateintheBengalGlobalBusinessSummit–2017from20th-21stJanuaryinKolkata.

Mr. Debdas Sen, AmCham Eastern Region Co-ViceChairmanandCEOTCGDigital,inhisopeningremarks

sharedwithmembersTCGDigital’ssuccessstoryinthestate.Mr.JoydeepDuttaGupta,AmChamEasternRegionExecutiveCommitteeMemberandPartnerandRegionalPractice Leader Deloitte East, gave the concludingremarks and vote of thanks. He also reconfirmed theinvitationtoallmemberstoparticipateintheWestBengalGlobalSummitscheduledinJanuary2017.

Session on Business Opportunities and Investment Climate with U.S. Speaker Juan Sabater

On Thursday, 4th August, Amcham Eastern Region, inassociation with the Public Affairs section of the U.S.Consulate Kolkata, hosted U.S. speaker Juan SabaterwhoaddressedmembersonbusinessopportunitiesandinvestmentclimateinthisregionandtheroleofAmChamin fostering start-ups and boosting investment for U.S.companies. TCG – Digital hosted the session at theiroffice.

Juan Sabater is a partner at Valor Equity Partners, agrowth focused private equity firm, headquartered inChicago, Illinois. Juan is a member of the investmentcommitteeandfocusesonsourcingopportunitiesintheservices sector. Juan spoke about his interest in Indiaandexplainedhowtheglobalmodelofentrepreneurship

is changingwithmorecollaborationsandpartnerships.Hecitedexamplesofcompaniesthatoutsourceseveralareasofworkandfocusontheircoreexpertise.Hesaiditwasessential tohavesocialentrepreneurshipmodelsinIndia.

During the interactive session that followed, memberssharedtheirexperiencesofworkingwithIndianandU.S.companiesand thepartnerships involved.Someof theissues raised were angel capital and seed funding inIndia.Theyalsodiscussedhowstart-upsoftenfizzleoutin Indiadue to issuesofproperplanning,financesandgovernmentalpolices. ThesessionwaschairedbyMr.DebdasSen,CEO,TCG-DigitalandCo-ViceChairman,AmChamEasternRegion.

Mr.JuanSabater(farleft),entrepreneurshipspeakerfromtheU.S.,addressedmembersinKolkataattheTCG-Digitaloffice

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Vikas Vasal Chairman,AmChamTax,Tariff&RegulatoryCommitteePartner,Tax,KPMGinIndia

Tax Transparency Ahoy!

proposed legislationbefore a smoothworkable systemevolvesinthelongrun.

TheGSTrequiresadequateinfrastructureandresolutionof several issuesbefore it is rolledout.Concerns suchas determining the tax rate for goods and services, acredit framework to functionsmoothly,categorisationofvariousgoodsandservicesintodifferenttaxratebasketsto ensure that it does not trigger an inflationary trend,the various tax andother concessionsofferedby stategovernmentsandenjoyedbybusinessesatpresentneedtobetakenintoaccounttomaintainstatusquovis-à-visthecommitmentsmadeinthepast.

Another big change underway is the re-negotiation ofDouble Taxation Avoidance Agreements (tax treaty)and signing of Tax Information Exchange Agreements.With increasing foreign investment and cross-bordertransactions in India, there have been issues on thebenefitsbeingavailedbybusinessesunderthevarioustaxtreaties,especiallyinthecaseoftaxconcessionsrelatingtocapitalgains, interest income,royaltypayments,feesfor technical services and permanent establishmentexposures.

Oneoftheimportantmovesintherecentpasthasbeena change in the India-Mauritius tax treaty regardingtaxationofcapitalgainsandinterestincome.AsbenefitsundertheIndia-Singaporetaxtreatyoncapitalgainsareco-terminuswith theMauritius treaty, it is likely that theSingaporetaxtreatymayalsobere-negotiated.Similarly,changesintheCyprustaxtreatyareunderway.

OneofthehandicapsthatIndianrevenueauthoritiesfaceinseekinginformationfromoverseastaxjurisdictions,isalso being removed gradually by India signing the TaxInformationExchangeAgreementsorincorporatingthese

GST and other changes in the tax and regulatory regime are likely to bring about a paradigm shift in the way business is done in India

Thenumberof changesbeing introduced in the Indiantax and regulatory regime are likely to change thewaybusiness isperceivedanddone in India. Addto it, theprowess of data analytics and the increasing linkagesbetween the different data points which revenueauthoritieswillhaveaccess to, is likely tobring inmoretransparency.

TheGoodsandServicesTax(GST)alsobeingreferredto as a ‘one nation, one tax’ initiative, is one of thebiggest tax reform in India, post liberalisation and thedismantlingofthelicenceregimeintheearly1990s.Freemovement of goods and services across the country,wherebusinessestakedecisionsbasedoncommercialconsiderationsratherthantaximplications,coupledwitheasieronlinecompliancescanbringinadramaticchangeinthebusinessenvironment.

Besidesotherareas,thethreekeyaspectsthatbusinessesmayhavetore-evaluateandtakenecessaryactionare,tax planning and compliances, syncing informationtechnologysystemswithGSTframework,andtuningthesupplychainmodelinlinewiththenewpolicyframeworkand thecompetitor’s strategy,without losingsiteof theoverallbusinessdynamicsandcosteffectiveness.

InadditiontocontributiontooverallGDPgrowth,GSTisexpected tousher inaneraof transparencyacross theentirevaluechain,whichatpresentgetsbrokenincertaincases therebyresulting in revenue leakages. TransitiontoGSTcanbechallengingintheinitialyears.Therefore,the government needs to adopt a soft approach tohelp businesses understand and comply with the new

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clausesintaxtreatieswithdifferenttaxjurisdictionssuchastheBahamas,Bermuda,BritishVirginIslands,CaymanIslands,Liechtenstein,Liberia,etc.

The General Anti-Avoidance Rules (GAAR), to beeffectivenextyear,isanothertoolthatgiveswidepowersto the revenueauthorities to challengeany structureortransaction, if it isestablished that theprimarypurposeofsuchanarrangementwastoavoidtax.Similarly,theconceptofPlaceofEffectiveManagement(POEM)whichalso partially covers thin-capitalisation rules, is anothersteptobringinmoretransparency.

Some other initiatives such as tax deduction/collectionatsourceonpurchaseof immovablepropertyandsaleof cars above certain thresholds, mandatory quotingofPANonall transactionsofpurchaseandsaleabovecertainmonetarylimits,annualinformationreportsbeingsubmitted by financial institutions and other specifiedorganisations, are all steps in this direction to bring intransparencyandwidenthetaxnet.

Interestingly,therearesignificantchangestakingplaceattheglobalstagethathaveadirectorindirectbearingonIndianbusinesses.Postthefinancialmeltdownof2008,governmentsacrosstheglobehavebeenunderpressureto plug revenue leakages and hold people/businessesaccountable. Base Erosion and Profit Shifting (BEPS),ForeignAccountTaxComplianceAct(FATCA)andsimilarother initiatives taken globally can add to transparencyandcomplianceinIndiaaswell.

As Indiaaspires tobeoneof the top threeeconomies,it is bound to change in many aspects, including thewaybusiness isconducted.Tax transparency,certaintyandclarityare thehallmarkofanymatured tax regime.India has embarkedon this long journey. Therewill beblipsandbumps,andresistancetochangeontheway.Nevertheless,thesestepscollectivelyhavethepotentialtousherinaneweraoftaxtransparency.

The views and opinions expressed herein are those of the author and do not necessarily represent the views and opinions of AmCham or KPMG in India.

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HYDERABAD

AmCham organized a session on the Foreign CorruptPracticesAct(FCPA)withErnst&Youngon5thJuly2016.Thesessionwasheldat theofficeofErnst&Young iniLabs,HitechCity,Hyderabad

Mr. Sandeep Baldava, Partner – Fraud Investigation &Dispute Services, conducted an awareness sessionfor AmCham Hyderabad members. He has led manyFCPA investigations/reviews for several multinationalcompanies in multiple business sectors, includingtechnology, telecommunications, infrastructure, retail,financialservices,andlifesciences.Heisvisitingfacultyon thesubjectofwhitecollarcrimes forvarious federalandstateenforcementagenciesinIndia.

TheinteractivesessionfocusedonrecentdevelopmentspertainingtoFCPAandkeycasestudiesintheseareasandwhatleadingmultinationalorganizationsaredoinginIndiatoaddresstheadditionalrisksposedonaccountoftheserecentdevelopments.Membershadanopportunitytointeractandlearnaboutsomeleadingpracticesinthisarea.

Theglobalregulators(U.S.SECandDOJ)areincreasingtheirscrutinyforanti-briberyandFCPAnon-complianceby companies with operations in emerging marketslike India. In addition to levying penalties, seniorofficials responsible foroperationsarebeingsubject toprosecution for failure to protect non-compliance withanti-briberylaws.Recentsettlementshavereiteratedtheimportanceofimplementingrobustcomplianceprogramsby organizations. Organizations have started using

FCPA Meeting with Ernst & Young

anti-corruption data analytics extensively to proactivelyidentify red flags and strengthen detection processeswithintheiroperations.

In the recentpast, therehavebeensignificantchangespertainingtoFCPA.Afewnotablechangesinclude:

• FCPAenforcementpilotprogram

Theprincipalgoalofthisprogramistopromotegreateraccountabilityforindividualsandcompaniesthatengageincorporatecrimebymotivatingcompaniestovoluntarilyself-disclose FCPA-related misconduct, fully cooperatewiththefraudsection,and,whereappropriate,remediateflaws in their controls and compliance programs. Thisprogram commenced from 5th April 2016 and is validfor 1 year.Under this scheme, a company can receivereduction in the fines imposed by the DOJ under U.S.SentencingGuidelines

• Individual accountability for corporate wrongdoing(YatesMemo)

To be eligible for any cooperation credit, corporationsmustprovide to thedepartmentall relevant factsaboutthe individuals involved in corporate misconduct. Bothcriminal and civil corporate investigations should focuson individuals from the inception of the investigation.ThesechangesweremadebytheDOJtomaximizetheDOJ’sabilitytodetermisconductandtoholdthosewhoareaccountable.Inthecomingmonths,theDOJwillbeworking towards turning these policies into everydaypractice.

4th AmCham Healthcare Steering Committee Meetings

Thecommitteemembersmeton14thJulyattheofficeofEliGlobalIndiaandon8thAugustattheofficeofMediumConsulting todiscussandchart out the final courseofactionfortheconference.

Thememberswere informedthat thewebsitewouldbeupandrunningforregistrations.Theday-longeventwiththetheme“HarmonizationofIndianHealthcareWithinthe

GlobalEcosystem”willbebrokendowninto3sessionsnamely:

• GlobalHarmonization

• InnovationandTechnology

• SkillsandDevelopment

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Dr.KiranmaiPendyala,Chairperson,HyderabadChapterandCVPHRGreaterAsia&EMEABoardMember,AMDIndia

Farewell for Consul General Michael Mullins

AmCham Hyderabad organized a farewell for MichaelMullins, Consul General, U.S. Consulate Hyderabad atWestinMindspace,Hyderabadon18thJuly2016.

Members thanked Michael for his commitment tothe upliftment of society and the strong relationshipwith AmCham. Dr. Kiranmai Pendyala, Chairperson- Hyderabad Chapter, AmCham, commenced thesessionby thankingMichael for alwaysbeingavailableand interested in what AmCham was doing. The pastChairpersonsofAmChamHyderabad,whowerepresentatthismeeting,alsospoke.

Mr.MichaelMullins,ConsulGeneral,U.S.ConsulateHyderabadwithAmChammembers

Mr.MichaelMullins,ConsulGeneral,U.S.ConsulateHyderabad

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Michael thanked the Hyderabad Chapter for thecommendable work they were doing. He mentionedthathisfirsteverpubliceventonassumptionofofficeinHyderabad was the AmCham Healthcare Conferenceandhereallyappreciatedtheconference.Hewasalsothankfultothemembersfortheirsupportinstrengthening

the bilateral ties between the U.S. and India and therelationship shared with the industry partners. He wasappreciativeoftheAmChamHyderabadleadershipandwhat they were doing for the enhancement of trade inIndia.

AmCham Sports 2016 – Sports Coordinators Meeting

On29thJuly2016,theSportsCoordinators(representativesfrom AmCham members) who participate in AmChamSports 2016 event met at S&P Global to discuss thevariouseventsandtheconductofSports2016.

Thedrawsforcricketforthe22companiesparticipatinginthecricketeventwasconductedatthismeeting.

Dr.KiranmaiPendyala,Chairperson,HyderabadChapterwithMr.MichaelMullins,ConsulGeneral,U.S.ConsulateHyderabadMr.MichaelMullins,ConsulGeneral,U.S.ConsulateHyderabad

MemberslisteningtoMr.MichaelMullinsgivinghisfarewellspeech

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BANGALORE

On27thJuly,AmChamhostedaninteractivesessionoverdinnerwithAmbassadorRobertHolleyman,DeputyU.S.TradeRepresentative,at theOberoiHotel inBangalore.The USTR team also included Dawn M. Shackleford,Deputy Assistant USTR, and Conor Harrington, IPRDirector, USTR, Ken W Mcbride, Political/EconomicOfficer from the American Consulate in Chennai andrepresentativesfromtheU.S.CommercialServices.

AmbassadorHolleymanemphasizedUSTR’soutlook tobreakdowntradebarriersandnegotiateprinciplestowardscreatingastronger,unifiedtraderelationshipbetweentheU.S.andIndia.Healsomentionedtheupcoming10thU.S.–IndiaAnnualTradePolicyForum(TPF)willtakeplaceinNewDelhiinOctober.HementionedthenewITpolicyhasbeenencouragingeventhoughthepaceofreformmay

On 29th July, AmCham Karnataka Chapter partneredwithDeloitteforaninteractivesessiononunderstandingthe“extendedenterprise.”Thespeakers includedSumitMakhija, Partner – Forensic Financial Advisory,Deloitte

Interactive Session with Ambassador Robert Holleyman, Deputy U.S. Trade Representative

Deloitte Session on Understanding the ‘Extended Enterprise’ Managing Third Party Corruption Risks

beslower thandesired.Someof theareas focusedonforthisvisitincludedthedigitaleconomy,manufacturing,agriculture,ITandissuesaroundthedigitaleconomytounderstandwhere therearepointsof frictionand try tominimizeit.Theyalsomentionedpatents,tradesecrets,localsourcingrequirementsandtradefacilitation.

Ambassador Holleyman mentioned the “Digital 2Dozen,”alistofprinciplesembodiedintheTransPacificPartnership (TPP). The TPP includes cutting-edgeobligations designed to promote the digital economythroughafreeandopeninternetandcommercewithoutborders. Some of the challenges and opportunitieshighlighted by participants from the ICT sector wereenumerated. The participating companies were HPE,Oracle,TexasInstrumentsandSaggezza.

IndiaandRamaPrasad,VP&MD,EsterlineIndia.

The discussion revolved around managing third partycorruptionrisksandelaboratedontheFCPAandIndianlaw.Casestudiesoutlinedtheriskexposureduetothird

MembersinconversationwithAmbassadorHolleyman,DeputyUSTR

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partiesand theassociateddamages.Thesessionalsocovered creating a framework formanaging third partycorruptionrisks.

Thesecondpartof thesession featured threecomplexthirdpartyriskmanagementscenarios:

• Scenario A. An uncooperative third party refusedto answer your questions or provide requesteddocumentation

• Scenario B. The ownership structure was soconvolutedanditisimpossibletodetermineifthereisariskofagovernmenttouch-point

• Scenario C. Accounting records point to riskypaymentsincludingpotentiallyfictitiousinvoicesandvendors

ThesessionwasattendedbymemberorganizationsNike,IBM,Cisco,3M,NorthernTrust,Brookfield,Technicolor,ExxonMobilandothers.

Mr.M.K.RamaPrasad,VP&MD,EsterlineTechnologiesLtd.Mr. Samir Pranajpe, Director Financial Services, DeloitteToucheTomatsu

MUMBAI

The second meeting of AmCham’s Western RegionCommittee for the year 2016-17was held on 12th July2016 via conference call. The meeting commencedwithawelcomebyMr.MaheshKrishnamurti,Co-Chair,Western Region Committee, AmCham and ManagingDirector,ResourcesGlobalProfessionals(I)Pvt.Ltd.andMs.SurabhiWahal,RegionalDirector-WesternRegion,AmCham.

Themeeting,whichwaswellattended,washeldtosharekeyupdatesontheAmChamNEBthatwasheldinJune,makea reviewofpast events in theWR,and to ideateon forthcomingeventsandactivities for theregion.ThemeetingclosedwithMr.MaheshKrishnamurti thankingcommitteemembersfortheiractiveparticipation.

Western Region Committee Meeting

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CHENNAI

TheU.S.ConsulGeneral,PhilipMin,andJohnFleming,Principal Commercial Officer, met with the Tamil NaduChapter Executive Committee on 14th June at theresidence of the Consul General. The U.S. Consulatedecided toengagemorecloselywithAmChamso thatAmCham could be a strategic partner to access thestategovernmentandChiefMinister.ItwasdecidedthatAmChamwouldidentifykeypeoplethathaveaccesstotheChiefMinisterandinvitethemtoAmChamevents.

TheConsulateandAmChamwouldalsowork jointly to

showcase the CSR activities of member companies.Itwasdiscussed thatCognizantwould take the lead inorganizingaCSRworkshopforAmChammembersandlargeMNC’s.ItwasalsodiscussedthatvisitingoverseasCEOsshouldmeetwithofficersattheConsulateandjoinmeetingswiththestategovernment.TheConsulGeneralmentioned that he would interact with the diplomaticcorps in Chennai, as a working group, to exchangeinformation and improve access to government. Lastly,FordmentionedthattheywouldlendexpertisetoassistsmallercompaniestoestablishinIndia.

Tamil Nadu Chapter Executive Committee Meeting with U.S. Consul General

Breakfast Meeting on Chennai Smart City Infrastructure

Recognizing the need for businesses to share in thetaskofmakingChennaiabetterplacetoliveandwork,AmChamorganizedameetingon17thJune,2016withMr.RajCherubal,ChiefResilienceOfficerforChennai.Over40representativesfrommembercompaniesparticipatedinthediscussion.

Mr. Raj Cherubal made a presentation on the civicconditions prevalent in Chennai and compared it withthatofseveralcitiesofsimilarareaanddemographicsinAsiaandLatinAmerica.HestatedthatClean ChennaiisaCorporationofChennaiinitiativetocatalyzeacity-wideshiftincitizens’attitudestowardssolidwaste–ownership,treatment,andmanagement.

Heengagedwithmembercompaniestoenlisttheactivesupport of all stakeholders – ragpickers, residents,commercial establishments, institutions and others– to manage waste in an ecologically, socially, andeconomicallysustainablemanner.

The simple one-linemessage he conveyed is: ‘Do notlitter.Putwastewhereitbelongs.Intherightbinsandattherighttime.’

Mr.RajCherubalexhortedAmChamcompaniestoworkwiththeClean Chennaimovementto:

• Progressinthefightagainstgarbage

• Create awareness on best waste managementpracticesinChennai

• Reducewaste–will help saveboth theplanetandmoney

• Turn organic waste into something useful – likecompost,biogas,orelectricity

• Setupabiogasfacilityoncampustofuelthecampuskitchen

• Reusewaste–donate,sellusedfurniture,furnishing,clothes,electronicsandotheraccessories

• Recyclewaste–contactcompetentrecyclers,makinglesswastegotolandfillsordumpsites

MembercompaniesexpressedtheirsupporttotheClean ChennaimovementaspartoftheirCSRcampaign.

Interactive Breakfast Meeting with Minister Counselor for Consular Affairs, Joseph M. Pomper

Today’sbusinesstravel–bothdomesticandinternationalisontheincreaseasmoreandmorebusinesstravelers

take to the skies for business meetings. In the past,international business travel was restricted to senior

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managementpersonnel,butnowevenjuniorexecutiveshave international business assignments that bringgreater global mobility in the workforce. Obtaining avisahas thereforebecomea vital necessity to facilitatebusinessacrossborders.

To gain a better understanding on the adjudicationprocessattheU.S.EmbassyanditsConsulatesandtointeractwithmembersoftheglobalmobilityteamsfromvarious member companies, a breakfast meeting wasorganizedattheHiltonChennaion23rdJune.Themainguest speakers were Mr. Joseph M. Pomper, MinisterCounselor for Consular Affairs, U.S. Embassy, NewDelhiandMr.CharlesE.Luoma-Overstreet,ChiefoftheConsularSection,U.S.Consulate,Chennai.

Mr.Pomperbeganhisaddressbysayingthateconomicandpeople-to-peopletiesformakeypillarforthegrowingU.S.-India strategic partnership. Two-way trade andinvestmentbetweenthenationshavereachednewheights.Thetwolargestdemocraciescontinuetoexpandexistingcooperationandeffortsaswellaslaunchnewinitiativestobringaboutmutualeconomicprosperityaswellastocollaborate to address global challenges. He said thattheU.S.and Indiawereworkingonseveralpartnershipprograms, some of which include commercial, trade,and investment partnerships, infrastructure and smartcitiescollaboration,andsmartcitydevelopmentinAjmer,Allahabad,andVisakhapatnam.Science,technologyandhealthcooperationhavecontinuedtostrengthenalso.

Mr. Pomper recognized the growing academic andtourismlinksandsaidtheU.S.EmbassyandConsulatesin India issuedmorethan76,000studentvisas in2015.Indianstudentsaccountedforthesecond-largestgroup

offoreignstudentsintheUnitedStatesinthe2014-2015schoolyear,withthenumberofstudentsfromIndiaintheUnitedStatesincreasingbyover29%toarecordhighofnearly133,000.Throughthe‘PassporttoIndia’program,theU.S.governmentencouragesAmericanstudents tostudyabroadinIndia.Similarly,theimplementationoftheGlobalEntryProgramwillfacilitatetravelbetweenthetwocountries.

Mr. Pomper explained that Consulates of the UnitedStates of America in India are facing a staff shortagein proportion to the number of visa applications, andpeopleareadvisedtoapplywellinadvanceforvisas.Headdedthat,“Inthelastfiveyears,thedemandforvisashas increasedby80%,while thestaffinghas remainedstatic. While we have greatly improved efficiency,accommodating visa demand on this scale requiresadequatestaffing.”Theaveragewaiting timeforgettingavisaappointmentisaboutfourweeksnow.Thewaitingtime earlier used to be about a week or a week andhalf, according to Charles E. Luoma-Overstreet, Chiefof the Consular Section, U.S. Consulate, Chennai. Theconsulateprocessesabout1,000to1,500visasaday,hesaid.Mr.Luoma-OverstreetsaidChennaiwasoneofthebusiest visaprocessingcentres in India.Outof totalof1.1millionvisaapplicationsadjudicatedinIndialastyear,Chennaiprocessed2.8lakhapplications.

Mr. Pomper said, “Presently, we are striving to keepinterview appointment waiting time within four weeks,thoughsomepostsareexceeding thatduring thebusysummer season.” He added that anyone who hadreceivedU.S.visasearlierandhavenootherissuescanmakeuseoftheinterviewwaiverprogram.Allapplicantswereadvisedtoplanaheadandapplyearly.

Breakfast Meeting on ‘Make in India: CEOs Speak on the Business Environment in India’

Mr.SivaramYadavalli,Director–StrategyfromPwCIndiamadeapresentationtomemberson7thJuly2016.ThepresentationwasbasedonthePwCSurveyReport–‘CEO Speak on Manufacturing in India and Business Sentiment.’

ThePwCpresentationoftheIndianmanufacturingsectorstatedthat Indiaseemstobeemergingfromanalmoststagnant state in the recent past and heading towardsa path of growth. This is exemplified by the significantgrowthof thesector fromApril toNovember2015.This

turnaroundhasbeenacknowledgedbyvariousmultilateralorganizations,includingtheInternationalMonetaryFund,whichrecentlydescribedtheIndianeconomyasoneofthefew‘brightspots’intheglobaleconomy.

Recent initiatives by the Government of India, such astheMake in Indiacampaign,hasalreadystartedbearingresults. While growth and investments in some of thecore sectors remainamatter of concern, theeconomyis expected to do better in months to come. Similarly,

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Start-Up Indiawillsupplementthegovernment’seffortstoencouragemanufacturinginIndia.Theprogramsprovideglobal recognition to the Indian economy, facilitateinvestment and build best-in-class manufacturinginfrastructure. It emphasizes theneed for production inIndia,eitherbyIndiancompaniesorMNCs.

Thestudyhighlightedreformsrelatedtoland,laborandthegoodsand services tax (GST) as crucialmeans toattain theobjectives.AsperPwC’s19thAnnualGlobalCEO Survey, 75% of Indian CEOs believe there are

moregrowthopportunitiesfortheircompanytodaythanthree years ago. However, several barriers need to beovercometorealizesustainedgrowth,someofwhichcanberesolvedonlythroughgovernmentintervention.Whiletheindustrysensestherightsignalsfromthegovernmentand isoptimistic about long-termprospects, its currentmoodcanbestbedescribedasoneofcautiousoptimism.The report summarizes the views and expectations ofindustryleadersandpresentstheirrecommendationsforcreatingavibrantmanufacturingsector.

Breakfast Meeting: Smart Business Infrastructure – The Legal Framework

The‘MakeinIndia’campaign,alongwiththegovernment’sintention to ease the pain of doing business in India,hasincreasedthecompetitionbetweenstatestoattractinvestment, hence, the Tamil Nadu Chapter ExecutiveCommitteefelttheneedtoprovidememberswithabetterunderstandingofthecomplexityofthelegalsysteminthecountry. On 28th July, AmCham organized a breakfastmeeting focusedonsmartbusiness infrastructure– thelegal framework and invited Mr. P.H. Arvindh Pandian,SeniorAdvocateandAdditionalAdvocateGeneral,TamilNadu,toaddressmembers.

Mr.P.H.ArvindhPandian isanexpert in corporateandtaxlawswithover15years’experience.Hiscredentialsinclude being a member of the committee constitutedby the Ministry of Finance in 2002 for examining theprovisionsofsection72AoftheIncomeTaxActrelatingtomergersanddemergers.HeisanaccreditedmediatoroftheTamilNaduMediationandConciliationCentreundertheauspicesoftheMadrasHighCourtandatrainerformediationprocess.

Mr. Pandianbeganhis address tomembersby statingthattheIndianlegalsystemhasbeeninheritedfromtheBritishandhasitsownsetofcomplexlaws.Thiscoupledwith the huge backlog of cases in the courts is quitea deterrent to a business entity which needs speedyresolutiontoacontentiousissue.Hesaidthatforwinningacaseincourt,oneneedsagoodcase,goodevidence,agoodwitness,agoodjudgeandmostimportantlygoodluck.

Mr.Pandiansaidthattoobtainspeedyjustice,alternatemethodssuchasarbitrationandmediationcanbetried.

Hesaidthattodaymanysmartandintelligentyoungstersaretakingtothelegalprofessionasitiswellpayingandsatisfying providing challenges all the way. He addedthatmediation isanewandexclusivecareeroption fortheyoungerlawyerswithsharpwitandintelligence.WhentheHighCourtdeemsacase tobemediated, it refersthecasetoacentreandallotstwopeople,explainedMr.ArvindhPandian.Hesaidthat,sometimes,clientsdirectlyapproachamediator foranout¬of¬courtsettlement.Mediationhelpsclientssolvetheirproblems.Everythingis kept confidential and discussions are confidential.Mediation is done only by trained persons who doextensive researchonclientbackgroundandearn theirtrust.Mediators have a good rapport with their clients.Mediation is very successful and can be applied to avarietyofcasessuchaslabour¬managementdisputes,motoraccidentclaimsandmatrimonialdisputesetc.

Mr. Pandian also spoke about arbitration to resolvedisputes arising from international commercialagreements and other international relationships in thecountry.Toprovideaneffectivemechanismforresolutionofdisputesthrougharbitration,theArbitrationAct,1940,was introduced in the country. Subsequently, it wasamendedby theArbitrationandConciliationAct, 1996.Arbitrationisanoptiontoprovidinganeffectiveplatformfor resolution and reduce the burden of courts. Mr.PandianaddedthattherecentverdictsbytheSupremeCourtandhighcourtsonthelawofarbitrationareintunewith international arbitration laws for disputes involvingcross-bordertransactions.

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Corporate Members

New Additional Members

Mr. Arun DevarajDirector

Visteon Technical and Services Centre Pvt. Ltd.

AmCham Welcomes New Members

Mr. Sudipto RoyManaging Director

Principal Retirement Advisors Pvt. Ltd.

Mr. Gaurav KarnikPartner

Ernst & Young LLP

Mr. Arvind AgarwalDirector

Amritt India Associates Pvt. Ltd.

Mr. Ranjit NambiarManaging Director – South Asia

Datacard India Pvt. Ltd.

Mr. Vinod ChandranVice President, General Manager

Brocade Communications Systems Pvt. Ltd.

Mr. B RaghavendranCOO

CISCO Systems India Pvt. Ltd.

AmCham

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AmCham

UpdateEventsAmCham

Regional Secretariat

National Secretariat

Mr. L.N. Agarwal Senior Manager & OSD

Email : [email protected]

Ms. Paridhi Goel Thakur Program Lead


Ms. Tanya PaulCommunication Director


Ms. Sudeshna Ghosh Regional Director - Karnataka Chapter


Ms. Ruth Sandya RodriguesRegional Director - Hyderabad Chapter

E-mail : [email protected]

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

Ms. Madhvi KatariaDeputy Executive Director


Ms. Mamta UppalMembership & Events Manager


Ms. Shivani RainaProgram Director - ECP


Mr. Aubrey DanielsRegional Director - Tamil Nadu Region


Ms. Valerie Swope Program Coordinator


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

Ms. Udaya Arun Program Manager - Aerospace & Defense


AmCham Team

Ms. Surabhi WahalRegional Director - Western Region

E-mail : [email protected]

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

update – september 2016

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