IACC Newsletter · PDF fileMoser Baer Solar Ltd signs deal for solar modules distribution in US..... 28 Cadbury Kraft India one of fastest growing operations for Kraft globally

IACC Newsletter Issue-8 2011

By IACC Head Office, Mumbai

Index

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Contents

Index ................................................................................................................................. 2

President’s Message .......................................................................................................... 5

From the Secretary General’s Desk .................................................................................... 7

IACC-USA Inc. .................................................................................................................... 8

Happenings at IACC ........................................................................................................... 9

Indo-US Corporate News ................................................................................................. 17

Tech Mahindra Bags Huge Contract from Microsoft ..................................................... 17

Eli Lilly ties up with Lupin to push diabetes drug sales .................................................. 17

Boeing: India will need 1,320 new planes ........................................................................... 18

Infosys denies US whistleblower's allegations .................................................................... 19

Forbes ranks BHEL No 9 in innovation globally ................................................................... 20

Mahindra Satyam, Microsoft partner for child support services........................................ 20

PNB, Metlife to partner new life insurance venture ........................................................... 21

Boeing names Dennis Swanson as VP for defence business in India .................................. 22

Hexaware signs its largest deal with revenue potential of $177million ............................. 22

iGATE Patni Computer bags $30 million outsourcing contract from US based company,

Weyerhaeuser NR ............................................................................................................... 23

California based Gilead Sciences, Inc. in pact with four Indian pharma firms for 3 anti-HIV

drugs ................................................................................................................................... 24

Reliance MediaWorks partners with US-based Digital Domain.......................................... 25

Godrej Consumer, Hershey to end joint venture................................................................ 26

IBM leader in supercomputing installations in India: SERC ................................................ 27

Moser Baer Solar Ltd signs deal for solar modules distribution in US ................................ 28

Cadbury Kraft India one of fastest growing operations for Kraft globally .......................... 29

Thermax, Amonix ink pact for photovoltaic technology ..................................................... 29

India may emerge as largest market for US Ex-Im Bank ..................................................... 30

MapmyIndia to offer voiced-based GPS navigators in strategic partnership with

Massachusetts based Nuance Communications................................................................. 30

Reggie Aggarwal-led Cvent raises $136 m .......................................................................... 31

Pathfinder International Announces New President and CEO, Dr. Purnima Mane ............ 32

India’s Investments in US ................................................................................................. 33

Cox and Kings invests in US firm RADIUS ............................................................................ 33

Zydus plans to buy US-based pharma Co. Nesher Pharmaceuticals Inc. for $60 mn ......... 33

US investments in India ................................................................................................... 35

Power Tube India Embarks on Joint Venture for Geo Magmatic Power Plants ................. 35

PE firm Xander acquires stake in HCC arm for Rs. 240 crore .............................................. 36

Private equity firm Blackstone to invest Rs.150 crore FINO Ltd. ........................................ 37

Ford to set up new $-1bn facility in Gujarat ....................................................................... 37

Cognizant Technologies to acquire CoreLogic's Indian operations for $50 million ............ 39

Walt Disney to acquire UTV ................................................................................................ 39

Blackstone Group to invest Rs.500 crore in Visa Power ..................................................... 40

Microsoft opens new R&D facility in Bangalore ................................................................. 41

New York based Bristol-Myers Squibb to acquire Amira Pharma in a $475 million deal ... 41

US bodies to invest in Indian renewable power, smart grid projects ................................. 42

DuPont plans centre in Pune with automotive focus ......................................................... 43

California based Life Technologies Corporation invests $3 million in distribution hub in

Bangalore ............................................................................................................................ 44

Freescale Semiconductor Inc. opens R&D center in Hyderabad's SEZ ............................... 44

World's largest consumer goods firm Procter & Gamble upbeat on India, invests Rs 345

crore in subsidiary P&G Home Products ............................................................................. 45

US firm Momentive Performance Materials to open R&D centre in Bangalore ................ 46

In the News: .................................................................................................................... 47

Starting a business in India to take less than a day ............................................................ 47

Lawmakers, community welcome Arun Jaitley to US ......................................................... 48

Clinton, Krishna to chart out course for future development ............................................ 49

‘Mismatch in Indian procurement process & US license regime’ ....................................... 50

US Trade Development Agency (USTDA) Director concludes participation in US-India

Strategic Dialogue ............................................................................................................... 51

Hillary Clinton praises Indian-American community's role ................................................. 52

Indian Talent Pool in US Waiting to be Tapped .................................................................. 52

India and US to Sign Bilateral Aviation Safety Agreement .................................................. 53

Indo-US ties on ‘much better trajectory’ now: Meera Shankar ......................................... 54

Let US consulate in Chennai adjudicate blanket L visa applications: Report ...................... 55

India and US Sign Bilateral Aviation Safety Agreement ...................................................... 56

US seeks bilateral consultations on terror financing .......................................................... 56

Clinton, Mukherjee for boosting India US partnership ....................................................... 57

India may join select club of nations exporting N-reactors ................................................ 57

India for expanding renewable energy cooperation with the US ....................................... 58

Indian-Origin Doc appointed Chairperson of AMA's section .............................................. 58

Indo-US Trade Statistics ................................................................................................... 60

India's Foreign Trade: June, 2011 ....................................................................................... 60

Full text of India-US Joint Statement ................................................................................ 62

India-US Strategic Dialogue. ................................................................................................ 62

Calendar of IACC Events for 2011-12 (as on 1 August 2011) ............................................... 69

US Department of Commerce Certified Trade Shows in USA ............................................. 70

How to reach us: ............................................................................................................. 73

President’s Message

Gautam Mahajan National President, IACC

The US debt crisis is seemingly blown over, at least for the time being, when legislators decided to increase the ceiling of government borrowing by US$ 2.4 trillion from the present US$ 14.29 trillion and cut in federal spending by US $ 917 billion. The consensus has been hammered with its share of controversies, differences in perceptions and ideological bickering. Having undergone one of the worst economic crises in its history, which necessitated implementation of a huge bailout plan for its banking majors and others, Obama Administration was on the back foot from the day one in economic front. Coming close on the heels of pump priming syndrome to put the beleaguered economy on rail, the Administration can politically find a caveat by maintaining that it should be absolved from the ill-effects of forced hike in federal expenditure. Coupled with this, there is a strong school of thought which hold that during difficult times, a little deficit is pardonable in the sense that it would put more money in the hands of people to up their aggregate demand, a necessary condition to pitch up the growth all round. Admittedly the silly season (election time) round the corner, Obama Administration has to do some tight rope walking for mobilizing resources to cut the deficit by US $ 1.5 trillion as agreed upon for buying consensus. Raising taxes during election time can have adverse impact on the prospects in as much as cut in subsidies and tinkering with pension scheme may not be a preferred route during election time. Interestingly, runaway price increase on account of a combination of reasons including higher deficit is playing havoc with India, particularly with lower and middle class. A close analysis of the two situations can vent out a few common reasons, such as bail outs of Indian banks, tax cuts to induct buoyancy among corporate and unbridled government spending to offset the slowdown. It is instructive for both countries to share the findings of the panel that will go into the debt crisis in the US, since there can be common points that would be relevant to India as well, where deficit financing is caught up with myriad of opaque and not so opaque subsidies and policy tools. The question is whether cuts in spending will be good or bad. Admittedly, there will be a slow down as money is withdrawn

from the stimulus. But in the long run it will be good. USA is inherently strong, and needs to go back to basics, beyond the funny money games of the financial giants. In the meantime, it augured well that the recent visit of Hilary Clinton, US Secretary of State to India had taken Indo-US economic engagement to a higher orbit. Her visit coincided with signing of Bilateral Agreement on Aviation and Cyber Protection and renewed commitment of both countries to cooperate in homeland securities, energy and research and development. Let me flag mark the commitment to cooperate in aviation sector. IACC is the nodal agency for implementation of Indo-US Aviation Cooperation Program (ACP). The bilateral agreement just concluded between the two countries is an organic expansion of ACP, enabling Indian companies including small and medium enterprises to manufacture aviation related products in India, which will be certified for buy back into US and export to third countries. Similarly, initiatives being taken by both the countries will considerably increase the business opportunities in smart grid in the energy sector and manufacture and import of cutting edge technologies for security in India.


From the Secretary General’s Desk

Dear Members, While the regions and branch offices are busy doing events on important issues like IPR, SME and Taxation Matters which I am sure will be of great interest to you, the head office is busy in fulfilling the statutory requirements including audit and election process for the committees at National, Regional & Branch level for 2011-12. Progress is also being made at US Office front, the byelaws have been framed and we have started enrolling members in the U.S. We have earmarked separate section on IACC-USA, Inc which will be further elaborated in forthcoming issues.

Indo-US ties have deepened across “a very broad spectrum” and is on upward trajectory now. Both countries signed Bilateral Aviation Safety Agreement last month. According to government sources, India will soon join an elite group of countries where starting a business will take less than a day. Bringing this procedure down to 24 hours will provide a big boost to entrepreneurs and will reduce India’s ranking in the Index of Ease of Doing Business by World Bank.

This issue covers full text of Indo-US joint statement on India-US Strategy talk besides covering regular features like Happenings @ IACC, Indo-US Trade and Analysis, IACC’s upcoming events, international trade fairs in USA amongst others. We look forward to your presence at the AGM scheduled for Sep 28, 2011 in Mumbai, in the meanwhile we wish you a Happy Independence Day. With regards, R.K. Chopra Secretary General, IACC


IACC-USA Inc.

Following the launch of IACC USA, at the Summit for US-India Trade and Economics 2011 which was held 25th -26th of May 2011 in New York, the US branch of IACC is moving ahead rapidly in the growth of its membership and in the development of its Events Calendar. The organization has established a Secretariat which is already achieving a great deal to ensure that IACC USA establishes a firm position in the vibrant international business and trade community of the USA . Already being planned, IACC USA will hold the first of its events in September 2011. A full events calendar will be published in our next Newsletter and will appear on the IACC website. Membership of IACC USA is drawn from all over the United States and includes businesses, government and public sector organizations, as well as academic institutions. In subsequent editions of the IACC USA section of this Newsletter, we will be featuring members of our US organization, news of forthcoming events, and other information. IACC USA looks to provide benefits and services for Indian companies and organizations looking to do business in the United States as well as for US entities looking to do business in India. Working closely in conjunction with our colleagues in India, IACC USA is on track to play a dynamic and significant role in Indo-US trade and business relations. Please watch this space for further developments in our next Newsletter. For further information and/or if you are interested in becoming a member of IACC USA, please contact us at 216.333.1332 or by email at [email protected] IACC-USA, Inc. on web: https://www.iaccindia.com/page.asp?pageid=233

mailto:[email protected]

https://www.iaccindia.com/page.asp?pageid=233

Happenings at IACC

IACC Karnataka Branch

Interactive Session with U.S. Department of Commerce- Bureau of Industry and Security

Mr. P. N. Sudarshan IACC Karnataka Chairman presenting Mr. Eric L. Hirschhorn, Under Secretary, U.S.

Department of Commerce- Bureau of Industry and Security (BIS), a token of appreciation at IACC conference.

Mr. Eric L. Hirschhorn, Under Secretary, US Department of Commerce- Bureau of Industry and Security (BIS) addressing the audience.

Meeting with Consular Chief

Meeting with Consular Chief Mr. Nicholas Manring

(L to R)- Mr. Vinay Kumar, Mr. Vasanth Kini, Mr Nicholas Manring, Mr. A Gurudutt, Mr. F. R. Singhvi and Mr Mahesh Srinivasan

Mr A. Gurudutt, IACC Senior Vice Chairman- Karnataka Branch presenting a memento to The US Consular Chief, Mr. Nicholas Manring

Seminar on ‘Doing Business with USA’, in Mysore

Mr. C.N. Madhusudan, Founder & CEO, Vector Span Inc., USA, addressing the audience during Seminar on ‘Doing Business With USA’ in Mysore

Mr. V. Srinivasan, IACC Karnataka Committee Member giving vote of thanks during Seminar on ‘Doing Business With USA’ in Mysore

Mr. P. N. Sudarshan IACC Karnataka Chairman, presenting memento to the speaker, Sapna Rao- Manager,India Operations, Aperian (India) Management Consulting Private Limited.

IACC Andhra Pradesh Branch

“235th American Independence Day” Celebrations

Mr. S. Purnachandra Rao, Chairman, IACC, AP Branch, giving Welcome Address on the occasion of “235th

American Independence Day Celebrations” (L to R) Mr. Syed Badruddin, National Chairman, Steering Committee, IACC & Past National President, Shri. Mohammad Ahamadullah, Hon'ble Minister for Minority Welfare, Wakf, Urdu Academy, Govt. of A.P., Shri. C. Damodar Raja Narasimha, Hon’ble Deputy Chief Minister, Govt. of A.P., Ms. Katherine S. Dhanani, Consul General, US Consulate General, Hyderabad and Dr. Shiva Kumaran, Director, Aurobindo Pharma Limited.

US Children performing the American National Anthem during Independence Day Celebrations

Mr. S. Purnachandra Rao, Chairman, IACC, AP Branch presenting Memento to Shri. C. Damodar Raja Narasimha, Hon’ble Deputy Chief Minister, Govt. of A.P. Mr. Syed Badruddin and Shri. Mohammad Ahamadullah also seen.

IACC Varanasi Branch

Interactive Meeting with “Fulbright Hays Fellowship Group from USA”

IACC Chairman, Varanasi Branch, CA Mukul Kumar Shah addressing the audience.

(L-R) Professor Balmurli Natrajan, Professor Vidya Kalaramadam, and CA Mukul Kumar Shah

IACC Varanasi members at Interactive Meeting with “Fulbright Hays Fellowship Group from USA”

IACC Kochi Branch

Interactive session with Mr. Andrew T. Simkin, Consul General, U.S. Consulate, Chennai

Mr. Andrew T. Simkin, Consul General, U.S. Consulate, Chennai addressing the audience


Indo-US Corporate News

Tech Mahindra Bags Huge Contract from Microsoft IT firm Tech Mahindra on said it has bagged a contract from technological giant Microsoft to setup a Lab for video encoders used in deployment of IPTV solutions on latter’s Mediaroom. “Tech Mahindra has been selected by Microsoft to setup an authorised Encoder Conformance Testing Lab (ECT Lab) for video encoders used in deployment of IPTV solutions on Microsoft Mediaroom based platforms,” IT firm said in a statement. The Microsoft Mediaroom platform ecosystem includes real-time encoders, transcoders, user client and other integrated software components that enables delivery of multimedia content over an IP network. Tech Mahindra has set up a test lab in collaboration with Microsoft at its Bangalore facility for this activity. Encoders from OEMs across the globe will be tested and qualified against the conformance parameters set by Microsoft for the Mediaroom platform. “This initiative will drive Microsoft Mediaroom ecosystem partners to offer feature rich products and service,” Tech Mahindra IT Services President L Ravichandran said.

Eli Lilly ties up with Lupin to push diabetes drug sales

Eli Lilly India has tied up with Lupin Ltd to promote and distribute Lilly's Huminsulin range of diabetes drug products. Lupin India formulations business will promote and distribute the range of products in India and Nepal, which could double sales of the product in these markets, the companies said in a stock market filing. The collaboration will double the customer base in India for Eli Lilly and the number of doctors called will rise to 45,000, the release said. With an estimated 51 million diabetes patients in India, which is estimated to grow to 85 million by 2030, or one fifth of the global diabetic population, the partnership will yield rich dividends for the companies. Lupin has a robust promotion and distribution set-up and a strong presence in various therapeutic areas, including the fast-growing diabetes market and the strategic tie-up will achieve major synergy for the two, the release said. "As our highest priority, diabetes is a clear "must win" for Lilly's emerging markets," said Eberhard Ludewigs, vice president, emerging markets, Eli Lilly and Company. "This partnership will allow us to change our game in India. We will have a stronger footprint with more sales representatives promoting our diabetes business, not only for the current brands, but also for our future pipeline. Lupin is well aligned with Lilly's goal of expansion in India and other emerging markets," he added.

"With Lilly's presence and expansion in the emerging market space, the leadership team at Lupin feels strongly about the collaboration and the synergy it will create. We are pleased to be associated with Eli Lilly in India and this bears testimony to Lupin's existing market reach and will go a long way in strengthening our leadership position in the Indian diabetes market. We firmly believe that Lupin will bring tremendous value to this partnership based on our extensive experience and understanding of the Indian market. Our partnership is a significant step forward as both companies share the passion and commitment to make a meaningful difference to the quality of lives of patients with diabetes," Shakti Chakraborty, group president, India Region Formulations, Lupin Ltd, added.


Boeing: India will need 1,320 new planes

Boeing has forecast a $150 billion market for passenger airplanes in India over the next 20 years driven by a booming economy. Indian airlines will need to buy around 1,320 new airplanes to meet the demand of an expanding aviation sector, Boeing India President Dinesh Keskar said in a statement. "Robust growth with new economic prosperity among a massive Indian population, discretionary incomes, business progress and access to airports will increase airplane demand," Keskar said. India's burgeoning middle class has switched from travelling by train to flying as an increasing number of private domestic airlines have opened up over the last decade. Keskar said Indian carriers were becoming profitable and with the economy expected to maintain its upward trend, both air travel and air cargo markets would grow. This year's outlook is more optimistic than last year's market outlook which had predicted that India would require 1,150 new aircraft worth $130 billion over the next two decades. At the moment, one in 200 Indian flies just once a year. This number will grow with the economy and aviation in India is set to grow rapidly as disposable incomes rise. In fact, the domestic market here will record highest growth rates for aviation globally. That's why we have upped the aircraft requirement outlook for the country. Of the projected 1,320 planes, 81% will be single aisle and the rest twin aisles. There's no room for aircraft bigger than the Boeing 747 (thereby ruling out need for the mega plane A-380 for Indian carriers). Apart from the private airlines, others including state-owned Air India are looking for replacement airplanes as they retire aging and less-efficient jets. Keskar also said the trend is very clearly towards flying low-cost carriers. Today one in every three Indian flier chooses an LCC, which includes the budget versions of full service Jet and Kingfisher. In 2011, 67% of market share is occupied by the LCCs, a figure that was just 3% in 2005. We see this trend to be stabilizing now. Indian carriers' share in international travel has also risen from 30.5% in 2005-06 to 34.5% in 2009-10. Today foreign airlines carry two-thirds of people flying between India and other countries and Indian carriers account for the rest. Most Indian airlines will break even soon. Keskar added, turning around AI without 787 is going to be very tough. The 787 is 16%-20% more fuel efficient compared to other aircraft of same size due to the lighter fuselage made of composite materials. Its maintenance cost will be very low. And being a brand new aircraft, a lot of people will be attracted to fly it. So AI will get what it needs at this moment -- cash flow -- from the 787.

In January, budget airline Indigo signed a mega $15.6 billion deal for 180 A320 aircraft from Airbus Industrie, an order the European aircraft manufacturer hailed as the biggest single order in terms of the number of jets in aviation history. Airbus plans to deliver the jets between 2016 and 2025. Apart from passenger aircraft, India is also shopping for military planes. In June, India signed an agreement to purchase 10 Boeing's C-17 Globemaster III cargo and troop-carrying planes, making India the biggest foreign buyer of the aircraft. The planes are expected to be delivered to India's air force in 2013 and 2014.


Infosys denies US whistleblower's allegations

IT major Infosys has come out strongly against Jay Palmer, a former Infosys Technologies employee, who provided damning written testimony to US Senate subcommittee holding a hearing on immigration reforms. Infosys called Palmer's commentary "full of inaccuracies, exaggerations and falsehoods." The commentary submitted by Palmer (through US Senator Charles Grassley) to the senate judiciary subcommittee on immigration, refugees and border security, is full of inaccuracies, exaggerations and falsehoods," Paul N Gottsegen, chief marketing officer of Infosys, said in a statement. "Palmer is obviously intent on spreading his falsehoods about Infosys and our business practices as broadly as possible in order to advance his objective of getting as big a payout as he can from the company," said Gottsegen. "There is not, nor was there ever, a strategy, scheme, or policy by the company to use the B-1 visa programme to circumvent the H-1B visa programme," he said. According to Gottsegen, the company did not have a practice of sending unskilled employees to the US on B-1 visas to work in place of skilled individuals in the US on H-1B visas. Palmer testifying before a senate subcommittee said his 'internal whistleblower complaint was ignored' by Infosys and he was 'threatened, harassed and retaliated against' in a visa and tax fraud cover-up bid. "Infosys has maliciously violated the spirit of the whistleblower policy and the law," he wrote in his testimony.

Responding to the charge, Infosys said, Palmer's complaints were handled in complete accordance with the company's published procedures for handling whistleblower complaints and in compliance with the law. It added that the company did not retaliate against or mistreat Palmer in any way.

Gottsegen said the rest of Palmer's commentary, was rife with mis-statements. However, Infosys would not take on a point-by-point rebuttal of his comments at the moment, instead it would leave that to the current litigation.

Infosys, which has been hit with a number of visa issues that have been affecting its relationship with customers, said it would strive to see that the company's integrity and compliance with law were not comprised. "To that end, we have made and may continue to make changes in our policies regarding immigration and visa requirements with the intent of having the absolute best practices in

place," the company said in its statement. In February, Palmer filed a lawsuit against Infosys alleging visa and tax frauds that led to the US government launching a criminal investigation. He alleged that Infosys had increased the use of the B-1 visa programme to dodge the tough restrictions the US had placed on the H-1B programme by sending lower level and unskilled Infosys employees to the US to cater to the high demand of its customers at a lower cost. He said the company had done this to shore up its profits. "Please note that at a time of economic volatility and crisis in the US, Infosys stock tripled," Palmer wrote in his testimony. He said companies like Infosys were maliciously not hiring Americans and looked at ways to circumvent policy and law instead of working with it. He added if one looked at the stock and growth of these large foreign companies in a down environment - they were not suffering. He said, however, they were still seeking more "handouts" to increase their margin. He said every company was out to make a profit, but when they knowingly defrauded the system it raised concerns.


Forbes ranks BHEL No 9 in innovation globally

Business magazine Forbes has ranked state-owned Bharat Heavy Electrical Ltd (BHEL) as the ninth most innovative company in the world. BHEL was the only Indian engineering company on the list and was ranked much higher than similar multinational companies in the power equipment field, according to a company release. The statement said the ranking not only reflected the innovativeness of the companies but also recognised the role of the innovative CEOs who had woven the code for innovation into their companies. The list has been prepared on the basis of an eight-year study by Harvard Business School professor Clayton M Christensen, along with Jeff Dyer, a professor at Brigham Young University, and Hal B Gregersen, a professor of leadership at INSEAD. BHEL is among four Indian companies and the only Indian public sector firm listed in 'The Global Innovation 1000' of Booz & Co, a list of 1,000 publicly-traded companies that are top spenders on R&D in the world. In fiscal 2010-11, BHEL's investment in R&D was Rs. 1,005 crore, which was 21 per cent higher than in the previous year. In the same fiscal, the company also commercialised products and systems developed through in-house R&D, which accounted for around 18 per cent of the company's total turnover of Rs. 43,337 crore.


Mahindra Satyam, Microsoft partner for child support services

IT services and consulting firm Mahindra Satyam has announced a joint initiative with technology giant Microsoft Corporation to offer modern tools and solutions for child support systems that, it said, would help improve productivity of workers. "These solutions will improve the productivity of case workers and enable enhanced interaction with the citizens that leverage child support services," the company said in a filing with the Bombay Stock Exchanger (BSE).

"The solution is based on Microsoft SharePoint 2010 technology and other enabling products from Microsoft," it added. The company said the system could help modernise or upgrade legacy systems in most states. Mahindra Satyam has leveraged its partnership with Microsoft to offer an end-to-end modern document management solution that integrates with existing legacy system. The document management solution provides a centralised repository for creating and storing all case related documents in self-contained 'electronic case files'. The solution can also integrate with legacy systems to extract relevant data and generate and keep track of the numerous letters, notices and other correspondence that are needed to administer a child support programme. The solution will also help transfer cases across county in real-time, improving service delivery to citizens. "We are very pleased to offer a low risk approach to modernise the aging and legacy child support systems that will enable the case workers to do more with less. Our partnership with Microsoft has enabled us to develop these solutions in a very flexible and rapid manner," Arvind Malhotra, senior vice president, strategic accounts, Mahindra Satyam, said. "The establishment of a robust document management solution, which has been architected to be an enterprise shared service for re-use across the dozens of case management solutions in our customer's HHS programme portfolio is critical to this vision. We are pleased to have Mahindra Satyam maximise this inherent value of the SharePoint platform," Kevin Dolan, director, health and human services of Microsoft, said. Mahindra Satyam is currently engaged with a Midwestern State in implementing the document management project and will be showcasing components of the solution at the National Child Support Enforcement Conference (NCSEA) conference to be held in Atlanta during the first week of August.


PNB, Metlife to partner new life insurance venture Punjab National Bank (PNB), the country's second-largest lender, has selected MetLife to partner its life insurance business. The bank's board selected MetLife from among 10 shortlisted life insurance companies for strategic partnership, subject to regulatory approvals. MetLife India, the Indian arm of US insurance major MetLife, will acquire a stake and a corporate agency distribution arrangement in the joint venture company, PNB said in a stock exchange filing. State-run Punjab National Bank had, late last year, invited expressions of interest (EoIs) from Indian and foreign companies for strategic partnerships in insurance business. In March, PNB short-listed 10 companies from a preliminary list of 41. The list has since been pruned to three, which included Bharti AXA, Aviva and MetLife. Metlife is the largest life insurance company in the US. "We have considered offers made by various companies and selected MetLife as our partner," PNB chairman and managing director K.R.Kamath said after announcing the bank's quarterly results. Besides the US parent MetLife India has Jammu and Kashmir Bank, Shapoorji Pallonji and other investors as partners.

PNB, which ended a partnership with the Principal Financial Group and bought out its 26 per cent stake along with the 32 per cent stake of Berger Paints, four years ago, announced plans for a strategic partnership with an insurance player last year. PNB had a 30 per cent stake in the life insurance JV. The new life insurance JV will be through "a corporate agency tie-up along with equity participation in an existing Indian life insurance company."


Boeing names Dennis Swanson as VP for defence business in India

The Boeing Company on Wednesday named Dennis D Swanson as its international business development vice-president for Boeing defence space and security (BDS) unit in India. In this position, Swanson is responsible for growing BDS business in India, including ensuring delivery on customer commitments and further strengthening relationships with industry partners, the company said in a statement. "India is a strategic market for Boeing's defence products," Boeing India president Dinesh Keskar said. "As a part of the Boeing India team, Dennis will bring his valuable insights from other regions and in-depth understanding of Boeing's defence, security and space range of products." Swanson began his career with Boeing Commercial Airplanes (BCA) in 1989, and has held various positions within BCA and BDS, including managing industrial-participation programmes and supplier-management activities. For 16 years, Swanson contributed to Boeing's expansion into international markets by identifying new business opportunities, managing complex industrial projects and establishing key relationships in countries including India, Japan, Saudi Arabia, UAE and Turkey, the statement added.


Hexaware signs its largest deal with revenue potential of

$177million

IT and BPO service provider Hexaware Technologies has secured a large contract from its existing US clients which is potentially worth $ 177 million over a five-year term. ‘Hexaware has been associated with this leading United States-headquartered multinational corporation for several years, and with this deal further increases its share of wallet with the client’ the company said in a statement, without naming the client. Hexaware said it has received incremental business worth $100 million through this deal. The balance $77 million will be from extending the existing contract over five years. The deal is for infra management and business process outsourcing services, Atul Nishar, chairman of Hexaware Tech, told. Under this deal, Hexaware will offer services for ERP, business intelligence / business analytics, quality assurance and testing services business process outsourcing and application management services. While it is an existing customer for Hexaware, this client also is a leading BPO client for Hexaware's wholly owned subsidiary, Caliber Point Business Solutions. Under this contract, Hexaware is

expected to ramp the team up to a peak size of over 600 operating under its dedicated global delivery over the next four- to- six quarters at its 15 global locations. ''Under this contract, Hexaware is expected to ramp the team up to a peak size of 600+ personnel operating under Dedicated Global Delivery Centers. It is envisaged that Hexaware will offer Information Technology (IT) & BPO services from 15 locations spread globally,'' said Rajiv Pant, president and head of Hexaware's America Operations. "This is our third large deal signed in the past three months. A deal of this magnitude was won on the back of our dominant position in multiple technology platforms," said P R Chandrasekar, CEO and vice chairman, Hexaware. Hexaware has made five large deal announcements in the span of the last 12 months. Hexaware Chairman Atul Nishar told reporters at a conference that he expect the US deal to boost 2012 revenues but refrained from saying the impact for the current financial year. The deal will support the company's existing operating margin of more than 12 per cent, or may improve further, Mr. Nishar added. Hexaware, a mid-sized company, is a specialized IT and BPO service provider, focuses on key domains such as Banking, Financial Services, Insurance, Travel, Transportation, Logistics, Life Sciences and Healthcare, having around 6000 staff in 20 countries serving 156 clients globally.


iGATE Patni Computer bags $30 million outsourcing contract from

US based company, Weyerhaeuser NR iGATE Patni, the integrated technology and operations brand providing business outcomes-based solutions, announced that it has signed a $30-million contract to provide managed IT infrastructure service operations to Weyerhaeuser NR Company, a leading forest products company. As a part of the engagement, iGATE Patni will leverage its managed on-demand infrastructure services capability to help Weyerhaeuser's IT organisation respond to a dynamic business environment more efficiently and cost effectively. It will also leverage its service delivery and monitoring platform to manage Weyerhaeuser's server footprint across multiple sites and will provide on-demand storage using a private cloud model. ''We are delighted that Weyerhaeuser NR chose iGATE Patni to manage this important initiative and to help drive their IT infrastructure transformation,'' said Robert Massie, head of sales for North America, iGATE Patni. ''This engagement is testimony to our strategic relationship with Weyerhaeuser NR. The deal also reflects the market's demand for a flexible, outcomes-based model - one which focuses on the end results and on delivering a measurable impact on a client's overall business.'' Earlier, Weyerhaeuser NR selected iGATE Patni as its 'IT supplier of the year' for two years in a row, recognising it for its commitment to continuous improvement and excellence within the Weyerhaeuser NR environment.

iGATE Patni provides a wide range of IT services for Weyerhaeuser NR, including infrastructure management services, ERP implementation and support, application development and support services, testing-related services and business intelligence system implementation and support. With iGATE having acquired a majority stake in Patni, the two companies – iGATE Corporation and Patni Computers Systems Ltd – under the common brand iGATE Patni, provide full-spectrum consulting, technology and business process outsourcing, and product engineering services on a business outcomes-based model. Weyerhaeuser NR, one of the world's largest forest products companies, began operations in 1900. It grows and harvests trees, builds homes and makes a range of forest products.


California based Gilead Sciences, Inc. in pact with four Indian

pharma firms for 3 anti-HIV drugs Gilead Sciences, Inc, a biopharmaceutical company, has entered into an in-licensing agreement with four India-based drug manufacturers - Ranbaxy Laboratories Ltd, Strides Arcolab Ltd, Hetero Drugs Ltd and Mylan-owned Matrix Laboratories Ltd, for three drugs that are currently in late-stage clinical development. Gilead said in a statement that it plans a global access programme expansion in an effort to provide accelerated access to Gilead medicines for the treatment of HIV / AIDS. Gilead is the first pharmaceutical company to enter a licensing agreement with the Medicines Patent Pool Foundation. The Indian companies will have the rights under license to manufacture and sell generic versions of these drugs in India and other developing countries, after getting necessary regulatory approvals. The India firms will also have the rights to manufacture and market generic equivalents of new products, Elvitegravir, an investigational integrase inhibitor, Cobicistat, an investigational antiretroviral boosting agent and Quad, which combines four Gilead HIV medicines in a once-daily, single-tablet regimen. The India companies will receive complete technology transfer of the Gilead manufacturing process, will be allowed to establish their own price and will pay a royalty on sale of finished products. Elvitegravir, cobicistat and the Quad are investigational products and have not yet been determined safe or efficacious in humans. Gilead will waive royalty payments on any pediatric formulations for sale of Viread and Truvada in an additional 16 countries, and also allow Viread to be produced and sold for the treatment of chronic hepatitis B in the expanded territory. Gilead licensed rights to commercialise elvitegravir from Japan Tobacco (JT), and are jointly working to ensure future access to elvitegravir in the developing world. Gilead's original licensing agreements provided Indian manufacturers with non-exclusive rights to produce active pharmaceutical ingredient and finished product and sell generic versions of Gilead's HIV medicines Viread (tenofovir disoproxil fumarate) and Truvada (emtricitabine / tenofovir disoproxil fumarate) in 95 countries, including India. "Gilead is proud to engage in innovative partnerships to expand access for patients in the developing world, and we welcome new opportunities to work with Indian manufacturers and the Medicines Patent Pool," said Gregg H. Alton, Gilead's executive vice president for corporate and medical affairs. "Our goal is to ensure that as new Gilead HIV therapies are developed and approved, low-

cost versions will be rapidly accessible in developing countries without delay." Gilead has established licensing agreements with Indian partners since 2006. Gilead has lowere the price of its antiretroviral drug to $6.15 per patient per month, or 21 cents per day. Currently, more than 1.1 million patients in developing countries receive Gilead HIV medication produced by Indian companies. Gilead said that it also makes branded versions of its HIV medicines available at significantly discounted prices at its cost of manufacturing in developing countries. A total of 1.6 million patients in developing countries are currently receiving either generic or branded Gilead HIV medicines - representing nearly one-fourth of the 6.6 million patients receiving HIV therapy in the developing world. Ranbaxy market Gilead's Tenofovir and Emtricitabine in India and many other developing nations, which are now important products in HIV therapy. Ranbaxy already produces Tenofovir 300 mg tablets and is a major supplier to the South African government. "India's pharmaceutical industry has the scientific expertise and large-scale production capacity that are critical for addressing the challenges of the HIV epidemic - both in India and around the world," said Rajiv Malik, Director, Matrix Laboratories Ltd. and COO, Mylan Inc, which was one of the first to sign an expanded licensing agreement with Gilead. We are pleased to expand our innovative collaboration with Gilead as we seek to help more individuals living with HIV in resource-limited countries." Rajiv Gulati, President, Global Pharmaceutical Business, Ranbaxy, said, ''We appreciate Gilead's initiatives for the treatment of HIV/AIDS in the developing world, through partnerships. We are pleased to extend our partnership with Gilead for the in-licensed new anti-retrovirals (ARVs), that will enhance our capability to provide quality affordable medicines for the treatment of HIV/AIDS in the developing countries.'' The number of people in developing countries receiving antiretroviral therapy increased by more than 2,100 per cent, from fewer than 300,000 to 6.6 million, World Health Organization data shows. According to World Health Organization as many as 15 million people require treatment now and an estimated 30 million are expected to require treatment within the next five years. Chronic hepatitis B is a common and potentially fatal liver disease caused by the hepatitis B virus (HBV), which is up to 100 times more easily transmitted than HIV. Approximately, 350 million people are estimated to be chronically infected with HBV worldwide. Gilead Sciences has its headquartered in Foster City, California and has operations in North America, Europe and Asia Pacific.


Reliance MediaWorks partners with US-based Digital Domain Reliance MediaWorks (RMW), part of the Anil Ambani controlled ADAG, said that it has entered into a partnership with Digital Domain Media Group Inc, to expand its visual effects and 3D conversion services.

Founded in 1993, Venice, California-based digital production studio Digital Domain, which filed a preliminary prospectus for a $115 million IPO with the US regulators in May, has created visuals for more than 80 movies, including Titanic, The Curious Case of Benjamin Button and TRON: Legacy and hundreds of commercials. Its artists have earned multiple Academy Awards. Digital Domain recently completed visual effects work for Transformers: Dark of the Moon, Thor and X-Men: First Class, and is currently in production on Real Steel, Jack the Giant Killer, 47 Ronin and other commercials. The partnership will create visual effects and 3D Stereo Production services studios in Mumbai, India and London, UK that will cater to motion pictures, television, commercial, and stereo 3D conversion for different projects starting from August 2011 in phases. RMW studios in both Mumbai and London will connect to Digital Domain's LA facility through Reliance MediaWorks' fibre optic network that can support high-speed exchange of data. RMW is India's fastest growing film and entertainment services company operates BIG Cinemas, India's largest cinema chain with over 550 screens spread across India, the US, Malaysia, Nepal and Netherlands. The Mumbai-based company currently has a dominant and comprehensive presence in Film Services, Motion Picture Processing and DI, Film Restoration and Image Enhancement, 3D, Digital Mastering, Studios and Equipment rentals, Visual Effects, Animation, TVC Post Production with presence across India, US, UK, Russia and Japan. RMW offers a full range of visual effects and stereo 3D conversion services with an existing team of more than 500 artists. The company will set up a new studio at its Media BPO in Navi Mumbai and deploy there an additional team of up to 650 artists for projects allied with Digital Domain. In London, Digital Domain will co-locate a visual effects team within its UK facility. ''Film-making has become a global enterprise,'' noted Cliff Plumer, CEO of Digital Domain Productions, ''and a partnership with RMW will allow our clients to realize the benefits of a digital production pipeline that makes efficient use of resources and talent located around the world.'' ''Reliance MediaWorks has the scale, technological expertise and highly trained artists which can be combined with Digital Domain's pedigree, proprietary tools and ability to create visual effects that challenge imagination, to offer comprehensive and seamless VFX and stereo 3D conversion solutions to global clients,'' said Anil Arjun, CEO of RMW.


Godrej Consumer, Hershey to end joint venture Godrej Consumer Products Ltd and US-based chocolate and confectionery major Hershey Co have decided to end their joint venture in India, following differences in running the joint venture. At a recent board meeting, both sides mutually agreed to call off the partnership, following which Hershey's will sell its 51-per cent stake in Godrej Hershey Limited to Godrej for an undisclosed amount.

Godrej is apparently dissatisfied with the slow progress of the Rs. 450-crore Godrej Hershey's venture at a time when other manufacturers have been recording good growth in the chocolates category. Four years into the venture, the US company did not progress beyond introducing its popular chocolate syrup, which was launched in 2008. In contrast, Godrej had contributed a number of brands to the venture, says the report. The Godrej Group and The Hershey Company had formed their 51:49 joint venture Godrej Hershey Limited in 2007, with the US firm acquiring the 40-per cent stake owned by IL&FS's, 5 per cent from Godrej Industries and the remaining 6 per cent from Godrej Consumer Products managing director A Mahendran. Hershey introduced its Hershey's Syrup in the joint venture, while Godrej brought in its Nutrine portfolio and fruit drink brand Jumpin, juices and nectars brand Xs and soya milk brand Sofit. Shares of Godrej Consumer Products soared to its highest level in over nine months in Mumbai trading on the news. According to reports Lazard Capital has been entrusted with the task of handling the deal which marks the end of the joint venture. Hershey's will now operate in India through a wholly-owned subsidiary.


IBM leader in supercomputing installations in India: SERC IBM has been ranked as the leader in Supercomputer Education and Research Centre's recently released India's Top Supercomputers list for 2011. IBM said in a statement that it had topped the list with 10 out of 16 high-performance computing installations across India. According to SERC, Bangalore led the rest of cities in the list of number of supercomputers, with Chennai at the second spot. Seventy-six per cent of Indian firms found server virtualisation a significant challenge, according to security firm Symantec's 2011 Virtualisation and Evolution to the Cloud Survey. According to one in two respondents, security concerns reduced confidence in placing mission-critical applications on virtualised servers. Further, reduction in datacentre (storage) requirements was a goal for 93 per cent of the respondents, but achieved by only 33 per cent, a release from the firm stated. Meanwhile, the newly released Green500 List revealed rapid improvement in environmentally friendly supercomputers globally, according to Wu Feng, list founder and Virginia Tech associate professor of computer science and electrical and computer engineering at Virginia Tech's College of Engineering. Feng said, of the top 10 greenest supercomputers in the world, two trends toward greener supercomputing were emerging: one was aggregating many low-power processors such as IBM's BlueGene/Q and the K Computer by Fujitsu at the RIKEN Advanced Institute for Computational Science, and the other trend was using energy-efficient accelerators, typically from the gaming/graphics market to complement the commodity central processing units from Intel and Advanced Micro Devices.

The Green500 ranks the energy efficiency of the world's 500 fastest supercomputers starting with its debut in 2007, serving as a complement to the well-known supercomputer industry marker TOP500. The Green500 uses a metric defined as millions of floating-point operations per second divided by watts divided by watts or MFLOPS/W for its ranking. The list is released in June and November each year. According to Feng, the Green500 sought to raise awareness in the energy efficiency of super-computing, and in turn, drove energy efficiency as a first-order design constraint – one that was on par with performance or speed. Like in November 2010 edition, an IBM Blue Gene/Q prototype supercomputer led the rest in the list, however, the Blue Gene/Q prototype that topped this list – the Blue Gene/Q Prototype 2 -- differed from the one that topped the previous list -- Blue Gene/Q Prototype 1 -- in that the former delivered significantly better performance, but with the same number of processor cores and only a marginal increase in power consumption. The result is a rating of 2,097 MFLOPS/W, the fastest supercomputer to surpass the 2,000 MFLOPS/W bar, said Feng. The world's fastest supercomputer RIKEN's K supercomputer is placed at the sixth in the Green 500 list. It aggregates many low-power processors and is one of the greenest supercomputers in the world.


Moser Baer Solar Ltd signs deal for solar modules distribution in US Moser Baer Solar Limited (MBSL) has signed an agreement with Munro Solar for the distribution of its solar photovoltaic modules in the United States. "The agreement would help in increasing the company's presence in the US," the company said in a statement. Munro Distributing Company Inc. has its presence in 11 locations across four states in the East and West coasts and will offer MBSL's multi-crystalline silicon solar modules and utilize them to design commercial turnkey solar PV systems for its customers. Munro Distributing is currently one of the major players in the US offering a variety of services and products in energy efficient lighting and power distribution. "The current agreement is in-line with the vision of MBSL to further penetrate the emerging markets,"the company said. According to the European Photovoltaic Industry Association, globally there was been an increase about 16 gigawatts of new solar photovoltaic (PV) installations in 2010 and US accounted for only 0.8 GW of this growth. Significantly, the US market is likely to grow from 1GW in 2010 to 3GW in 2012. "We have been aggressively expanding our presence into new emerging markets by building partnerships with key players", Dr. Rajiv Arya, CEO Solar Business, Moser Baer India said.


Cadbury Kraft India one of fastest growing operations for Kraft

globally Chicago-headquartered Kraft Foods, which acquired Cadbury last January for $18.9 billion, is earning a double bonanza from British chocolate maker's Indian operations. Not only is Cadbury Kraft India one of the fastest growing operations for Kraft globally, revenues spurted by 40% in January-March 2011 quarter, the domestic business is proving to be a ripe hunting ground for talent. Within a year-and-a-half of acquiring Cadbury, the $50 billion Kraft has picked up 21 managers for global and regional roles from the Indian affiliate. These include Sunil Sethi director, sales, who has moved as general manager of Kraft Malaysia; marketing honcho Bharath Sastry has taken over as marketing director of Kraft Indonesia; Pravin Shetty from finance is now in Singapore as manager, business analysis; Mohit Wadhawan from logistics & customer operations too has a role in Singapore, as manager, manufacturing strategy; and Nikhil Rao from marketing has moved into a global role in chocolates in Zurich. In addition there are officials who are based in India but handling projects for other nations. "Something like this has never ever happened in any other market wherever Kraft is present globally. And I think that it shows the commendable flexibility of Kraft to stick to its `best of both' strategy," points out Anand Kripalu, President, South Asia & Indo China, & Managing Director, Cadbury India. 'Best of both' refers to the Kraft-Cadbury combine's efforts to integrate the cultures, heritage and people of both brands. On the brands front, that integration became visible recently when Kraft's iconic biscuits brand Oreo was launched in India under the Cadbury umbrella-something that hasn't been done in any other market. Since the acquisition, Cadbury India has moved into two new Kraft categories - biscuits with Oreo and fruit juices and beverages with Tang. While Tang is manufactured at Kraft's Hyderabad plant, Punjab-basedBector Foods makes Oreo.


Thermax, Amonix ink pact for photovoltaic technology Thermax Limited has entered into an agreement with California-based Amonix Inc. for bringing the new concentrated photovoltaic (CPV) technology for solar power generation to India. Under the agreement, Amonix will provide the solar power modules and technology for putting up power plants, while Thermax will be the Engineering, Procurement and Construction (EPC) partner to providing turnkey solutions to customers. Amonix proposes to manufacture the CPV modules at the Flextronics Technologies plant in Chennai initially, and plans on building a separate facility in India when business starts picking up. The solar systems will be indigenised to the extent of 50:50 in the beginning, with a plan to localise up to 60% subsequently. “Concentrated photovoltaics technology will be a game changer in solar power generation technologies because of the substantially high efficiency it offers,” Mr. M S Unnikrishnan, Managing

Director and CEO, Thermax said. The exclusive arrangement with Amonix will enable Thermax to bid for projects in India, he said, adding that the company will (help developers) bid for the next round of PPAs under the National Solar Mission (NSM) due to open in September. Mr Brian Robertson, CEO, Amonix said that the technology originally developed for aerospace applications, has 38% module efficiency, and provides 29% post inverter power. The pole-mounted panels are fitted with dual-axis tracking systems, and require no water. The cost for setting up the CPV would be around Rs. 10-12 crore per MW, he added.


India may emerge as largest market for US Ex-Im Bank

India may emerge as US Ex-Im Bank's largest market in next 12-18 months, its Chairman and President, Mr Fred P. Hochberg has said. Currently, among all countries in which US Ex-Im Bank provides financing, India ranks second behind Mexico. The US Ex-Im Bank's total assistance in the nine-month period ended June 2011 stood at $1.4 billion, up from $53 million in entire year of 2009-10. The export credit agency's financial year runs from October to September. “During the last nine months, we have approved 173 transactions involving 100 companies and $1.4 billion in financing of US exports to India. If India continues to keep growing, we can make sure that it has the technology and capital to enhance that growth rate,” Mr Hochberg said at a press conference. The US Ex-Im Bank announced that it was providing a $16-million long-term loan to support the exports of First Solar Inc in Tempe Arizona to Azure Power Rajasthan Pvt Ltd in New Delhi. In the Azure Power transaction, First Solar will export thin-film photovoltaic modules to Azure Power for the construction of a five megawatt (MW) solar project in Rajasthan. The US Ex-Im bank also announced that it was providing $9.2-million long-term loan to support exports of thin-film solar photovoltaic modules from the US-based Abound Solar Inc to Punj Lloyd Solar Power Ltd. In the Punj Lloyd Solar Power transaction, Abound Solar's exports will be used in the construction of 5 MW solar project on a 62.5 acre site near the village of Bap, about 145 km from Jodhpur in Rajasthan. In fiscal year 2011 to date, the bank has approved financing totalling about $75 million for four solar power projects in India. It also has about $500 million of India solar projects in the pipeline that will generate an estimated 315 MW of solar power.


MapmyIndia to offer voiced-based GPS navigators in strategic

partnership with Massachusetts based Nuance Communications

MapmyIndia, a leading player in maps, GPS navigation and location-based services, has announced a seven-year strategic partnership with Massachusetts based Nuance Communications to offer street level turn-by-turn voice navigation on its next-generation navigation devices. For the first time in

India, MapmyIndia will offer GPS navigators that give voice guidance with accurate pronunciation of Indian street and road names. Under the alliance, MapmyIndia's new navigation devices will be equipped with Nuance Communications' Vocalizer for Automotive - the industry leading text-to-speech engine for more accurate voice guidance. Nuance's Vocalizer for Automotive will be fine-tuned and enhanced by MapmyIndia to offer, for the first time in India, accurate pronunciations of Indian street names and points of interests across 1200 cities in India. The devices, which are expected to be available within 2011, will support English and Hindi languages initially, with more Indian regional languages to follow. "MapmyIndia is very proud to partner with Nuance Communications text-to-speech (TTS) engine for our privileged consumers in India. MapmyIndia with its regional team is using Nuance tools to create phonetic database with localized accents of street names, landmarks for different parts of India," said Rakesh Verma, managing director, CE Info Systems (P) Ltd. "Nuance Communications is the global leader in voice based navigation systems for map providers and automobile manufacturers and we are extremely happy to partner with MapmyIndia in bringing Nuance's expertise and technology to India," said Sunny Rao, managing director, India and South East Asia, Nuance Communications. "Together with MapmyIndia, we hope to take navigation systems in India to the next level and bring ease-of-use and convenience through accurate voice guidance for Indian vehicle owners," he said. Nuance's automotive solutions power the speech recognition and text-to-speech capabilities of more than 30 million automobiles and 30 million personal navigation devices from the world's leading brands. Vocalizer for Automotive is a total speech output solution for a wide range of automotive applications. Vocalizer combines a state-of-the-art text-to-speech (TTS) engine, tools and services for enabling applications to handle speech output tasks in an automotive environment.


Reggie Aggarwal-led Cvent raises $136 m McLean, Va.-based Cvent, a provider of online event management and Web survey products, has secured $136 million in new funding led by New Enterprise Associates and Insight Venture Partners, with Greenspring Associates participating in the round. Cvent said it is its first funding round in over a decade. The company plans to hire more than 200 employees over the next year, bringing the headcount to 1,000. At least half of these new hires will be engineers focused on developing cloud-based event management and Web survey products. "We pride ourselves in our company's stability," said Cvent founder and chief executive officer Reggie Aggarwal. "This is evidenced by the fact that 11 of our 12 senior management executives have been with the company since its inception and we've had 40 straight quarters of growth." According to Dow Jones VentureSource, the round is the largest investment in a private business software firm in 2011 and the eighth largest investment in all industry sectors. The company had 41 percent compounded annual revenue growth in the last five years and doubled clients in two years to over 7,500. In a guest posting on TechCrunch after funding was announced, Aggarwal said that in

the late 1990s, he worked 60 hours a week as an attorney and launched the Indian CEO High Tech Council in Washington, D.C., where he organized events for local tech CEOs. "I used to joke that it was a good thing I was the president of the group, because I'd never qualify for membership," he said. "Marketing to these CEOs, getting them to RSVP to the event invitations and securing their attendance was painful. I knew there had to be a way to streamline the process." Aggarwal founded Cvent in September 1999. "I was 30 years old, living at home and borrowing money from my parents to fund my dream - I was like the Indian George Costanza," he said. "Those were wild times. I wasn't taking any salary and quickly ran up $250,000 in credit card debt. But lucky for me, as a law grad, credit card companies practically begged me to open lines of credit with them. So, just before quitting law, I signed up for 10 cards to bankroll my idea. Everyone had a start-up back then. I thought it would be easy. It wasn't." Aggarwal began with a six-person team who took "massive pay cuts and worked out of broken-down offices - complete with the start-up lore of mismatched furniture and Wonder Bread sandwiches." After the dot-com boom, the company "raised $17 million in venture capital from the D.C. 'tech glitterati', such as the CEOs of AOL, Nextel, Bell Atlantic and Nortel," he said. Cvent grew to 125 workers, but after the dot-com bubble burst "we quickly fell from being a hot start-up to being the walking dead," Aggarwal said. "We had less than $400,000 in the bank. Our revenue was $1.5 million and we were burning through a million dollars a month. The press completely turned on us and wrote articles that Cvent was going to wither like all the other dot-com companies. We had to cut expenses fast."


Pathfinder International Announces New President and CEO, Dr.

Purnima Mane

Pathfinder International, a global leader in sexual and reproductive health, announced that its Board of Directors has chosen Dr. Purnima Mane to be the next president and CEO, effective January 1, 2012. Dr. Mane is a distinguished diplomat, leader, manager, academician, social activist, author, and performing artist, who has been a life-long champion of sexual and reproductive health and women’s rights. She brings nearly 30 years of development and managerial experience to Pathfinder, having held leadership positions in a broad range of organizations—both globally and in her native India. These include senior leadership positions in several United Nations Organizations—UNFPA, UNAIDS, and WHO—as well as the Global Fund for AIDS, Tuberculosis and Malaria and the Population Council. In her current position as Assistant Secretary-General of the United Nations and Deputy Executive Director of UNFPA, she directs global policies and programs on population and development for the agency, which works in more than 150 countries, has more than 2,000 staff members, and operates with an annual budget exceeding $400 million. She is a strong and passionate advocate for the visionary Programme of Action of the International Conference on Population and Development.


India’s Investments in US

Cox and Kings invests in US firm RADIUS

Indian travel company Cox and Kings has invested an undisclosed amount in the US travel management company RADIUS. With this investment Cox and Kings becomes a majority share holder partner in the firm, the company said. The investment is made through Cox and Kings Singapore subsidiary. Cox and Kings already has a sizeable leisure market share in its portfolio and is trying to expand and strengthen its hold in corporate travel. RADIUS, the US based consortium of leading travel agents will help Cox and Kings provide better solutions to Indian firms and multinational companies here with its reach in 80 countries and at 3,600 locations and tie ups with 90 travel agencies. Cox and Kings is a shareholder in RADIUS since 2006 and have scaled up its share with this subscription of share capital. Corporate travel is a fast growing segment in Indian market and has grown about 30% in the country according to company estimates. Cox and Kings competes in this segment with long standing players like American Express and Thomas Cook. While majority of revenues for these players come from business travel, Cox and Kings is trying to increase the revenues from corporate travel. "This investment will allow us to take full advantage of the current market opportunity. Cox and Kings is one of our key share holders in India and they are poised to grow and become a leading corporate travel player," said Chris Vasiliou, president and CEO, RADIUS. "We believe this investment will further strengthen our ongoing partnership with RADIUS and provide us with the scale to service our existing blue chip corporate customers in India and service their requirements in international, markets where we do not have a presence," said Peter Kerkar, director , Cox and Kings. Cox and Kings has presence in 20 countries through its offices there and it also has franchisee sales shops. RADIUS has combined annual sales of $21 billion and claims growth of over 200% over the last three years. Cox and Kings' investment in RADIUS is made along with other international travel companies like Portman Travel of UK and Travel and Transport in the United States.


Zydus plans to buy US-based pharma Co. Nesher Pharmaceuticals

Inc. for $60 mn

Pharma company Zydus Cadila plans to acquire a US-based generic pharma company. The Ahmedabad-based firm signed an asset purchase agreement with a US-based pharma company for a cash deal of $60 million. The deal also includes purchase of two generic drugs – Micro-K and Potassium Chlroide ER capsule products.

Company spokeperson said, Zydus Pharmaceutical USA Inc, through its subsidiary Zynesher Pharmaceuticals USA LLC has entered into an agreement to acquire the assets of the US based Nesher Pharmaceuticals Inc, a generic arm of KV Pharmaceutical. The parent company is based at St Louis, Missouri. The financial details of the agreement were not disclosed by Zydus Cadila in its statement. KV Pharmaceutical an NYSE listed company said in its filing to US Securities and Exchange Commission, that in consideration for the divested assets of Nesher Pharma, Zydus agreed to pay $60 million cash. As per the agreement at the closing of the transaction, the buyer will deposit $7.5 million of the purchase price in an escrow arrangement for post-closing indemnification purposes. The transactions is expected to be closed during the second quarter of the Company's 2012 fiscal year. KV Pharmaceuticals further disclosed to the exchange that the agreement consists sales of two products – Micro-K 8mEq and 10 mEq and the company's generic products, including Potassium Chloride ER Capsule products. The broadbased assets purchase agreement includes assets and assumption of certain liabilities, Nesher's existing and pipeline ANDAs, certain manufacturing facilities and a full fledged research and development lab. According to Zydus Cadila, Nesher has considerable expertise in niche therapies which have development or production barriers, such as controlled release medications or Drug Enforcement Agency's (DEA) controlled substances. With this, Zydus will now be able to manufacture and distribute generic controlled substances in the US market, which otherwise cannot be imported. The market for controlled substances medications in the US is estimated at $7 bn. The acquired ANDA pipeline comprising 8 existing filings and 5 products under development present a tremendous market potential as they belong to high growth, niche segments which have a combined estimated market size of over $ 2.1 bn. The aggrement allows certain products of KV Pharma to be manufactured by Zydus's US-subsidiary, Zynesher Pharma.


US investments in India

Power Tube India Embarks on Joint Venture for Geo Magmatic

Power Plants

Power Tube International has concluded a joint venture partnership with Kuldip Singh, owner of Power Tube India to cover the entire Indian Sub-continent which was selected for its unique geopolitical, ethnic, geographic and historical associations with its neighbors under historical considerations. Singh was selected over 13 other international firms for the JV and will also provide an assembly plant for the Power Tube system. The Power Tube is a geothermal magmatic driven generator. One 10 megawatt unit can eliminate 400 tons of atmospheric pollution, the equivalent of 1 million gallons of fuel or of 1240 tons of coal. It provides a total non-contamination environment, does not produce acid rain, create landscape eyesores or visual pollution or destroy the fauna or flora. The Power Tube system has taken almost 11 years to develop and has replaced successfully the usual power generation technology that is over 150 years old. New technology, materials and scientific calculations had to be developed to get Power Tube to where it is today. Long periods of testing on two prior prototypes, MB 2000 and MB 2002 eliminated any doubts about the technology and innovation developed the knowledge base to assemble, test and certify the commercial prototype, Argus A10. One Power Tube unit of 10 MW needs only 10×10 meter land, where as other conventional systems need minimum 10 Acres. One 10MW unit needs 3 months to install, others need minimum 3 years to install. For a larger unit, the 10MW Power Tube, the savings to the environment over one year (compared to equivalent hydrocarbon production) would be to eliminate the equivalent of burning 1 million gallons of fossil fuels, 1,450 tons of coal for steam or 400 tons of pollutants into the atmosphere. Power Tube’s technology will also eliminate the danger of contamination of underground aquifers. It will not contribute to acid rain, prevents global warming and does not use any atomic fuels. It will provide a higher standard of living in third world countries by providing clean affordable energy that will not devastate the landscape. The Power Tube system is the logical Solution to curbing vast levels of energy pollution since it does not consume hydrocarbons and so does not generate any pollution or acid rain. The electrical energy does not consume natural resources but comes from a renewable resource and is produced at a low cost. Finally, the equipment leaves a small visual footprint and requires minimum maintenance. “This new product has the potential to provide a higher standard of living in Third World countries by providing clean affordable energy”, said Singh. “We are eager to start operations in India,” he added after the meeting, “and invite investors to join us.” Singh has plans to build 4 or 5 assembly plants for the Power Tube in various parts of India as well as separate plants for the drilling equipment. The Indian operations will be headquartered in

Chandigarh where Singh already has an IT business, Allied Technology. Singh has several businesses in Houston and has over 40 years of experience as an electrical contractor in India. Himachal Pradesh is reportedly considering experimenting with Power Tube Technology according to HP chief minister Prem Kumar Dhumal after a recent meeting with the Singh in New Delhi. He said that the state was also working on solar and wind energy generation technologies and would explore the possibilities of experimentation of Power Tube, low cost, non-polluting and silent power generation system also which could supplement the power demand of the state. Singh advised Dhumal of the benefits of the Power Tube system and invited him to visit power plant sites in USA. He said that Himachal Pradesh had varied climatic zones and the technology would be of immense benefit to meet the local electricity requirements of consumers. Singh has also been approached by officials of the Jammu & Kashmir to see the feasibility of beginning operations in the state. Inderjit Singh CEO of Power Tube India Chandigarh visited Power Tube Houston for the Technical conference. He says that the chief minister of Himachal Pradesh will visit Houston in the third week July for further discussion on installing Power Tubes in India.


PE firm Xander acquires stake in HCC arm for Rs. 240 crore

US-based private equity firm, The Xander Group, acquired a 14.5-per cent stake in HCC Concessions Ltd, a wholly-owned subsidiary of infrastructure company Hindustan Construction Co. Ltd (HCC), for Rs.240 crore. The deal values Mumbai-based HCC Concessions, which designs, finances, builds and operates transport infrastructure, at Rs.1,650 crore ($375 million). The announcement of the investment came on the same day HCC reported a 90 per cent fall in June-quarter net profit, due to high interest rates and a slowdown in the infrastructure sector. The builder of the 4.7km long Bandra-Worli Sealink said that the funds will be used at supporting the future growth of the business. HCC has a net debt of Rs.3,772 crore as on 30 June 2011. Presently, HCC Concessions' Rs.5,500 crore ($1.2 billion) portfolio includes six NHAI ptrojects, which include one annuity project and five toll roads: Nirmal (annuity) in Andhra Pradesh, the Delhi Faridabad Elevated Expressway, Dhule-Maharashtra/MP Border (Dhule) on NH3 and three contiguous sections in West Bengal on NH34. Commenting on the transaction, Ajit Gulabchand, chairman and managing director of HCC, said, ''The Indian Government has enhanced the pace of development of world class infrastructure for India through Public Private Partnership and HCC has chosen Xander, an investment group in which we find a wealth of expertise & commitment to complement our business goals. The deal reinforces faith in our robust asset portfolio and the growth potential for our concessions business.'' ''As India continues to grow, it will need more world-class infrastructure, built by world-class companies. HCC is one such company and we believe its skills will help propel the country further into the 21st century. We are delighted to participate in the growth of its infrastructure business,'' said Arthur Segel, chairman of The Xander Group.

The Xander Group is a global investment firm focused on the infrastructure, hospitality, retail and real estate sectors. Since 2005 the firm has committed over $1.8 billion of equity capital to the Indian market across five dedicated India funds. In 2006, Xander Group had bought a 20-per cent stake in a joint venture between Reliance Industries and the Maker Group, to develop commercial, residential and retail real estate in Bandra Kurla Complex in Mumbai and the PE firm had joined hands with Tata Group in 2007 to launch a $650-million global fund specialising in institutional real estate.


Private equity firm Blackstone to invest Rs.150 crore FINO Ltd. The Blackstone Group announced an investment of Rs.150 crore in FINO Limited for a significant minority stake. FINO is a pioneer in providing integrated technology solutions, which are anchored around using biometric smart cart, hand-held devices and micro deposit machines to perform field operations and biometric authentication. FINO works with most of the leading banks in the country aiding them in meeting their financial inclusion targets by tapping into rural segment for opening saving bank accounts, recurring deposits, loan products, remittances, insurance products, government subsidies disbursement, among others. The company has enrolled more than 35 million customers and plans to double its customer base in the next couple of years. ''The company has done well and the outlook is even stronger with government focus of using business correspondent channel for cash subsidies and RBI's drive to achieve total financial inclusion,'' said Manish Khera, CEO , FINO Limited. Akhil Gupta, chairman and managing director of Blackstone Advisors India Private Limited, said India had more than 100 million financially excluded households or an an exclusion rate of over 50 per cent. The exclusion is much more prevalent in the rural areas, he said. Gupta said for sustainable and inclusive growth, India needs to extend basic utilities like financial services to the excluded population. "As a dominant market leader, FINO is uniquely positioned to capitalise on this opportunity. While growing at almost 100 per cent CAGR in the last few years, FINO has demonstrated conviction and commitment to changing India's rural banking landscape.'' FINO is headquartered in Mumbai and employs over 2500 employees and 20,000 business correspondent agents spread across 239 offices. With over 35 million customer base across 300 districts across 24 states, FINO delivers financial products and services including banking, insurance and remittances in the first and last mile.


Ford to set up new $-1bn facility in Gujarat

Ford Motor Co of Detroit said that it would invest $1 billion (over Rs4,000 crore) in a new facility in Sanand in Gujarat to make cars and engines. The company signed an agreement with the Gujarat government for the project, which will come up on 460 acres. The twin plants will create 5,000 jobs, according to a company statement. The state government has prioritised land adjacent to the site –

not far from Tata Motors' Nano factory - for supplier operations. Earlier reports suggest the plant may have the capacity to make five lakh (500,000) units a year. This will be Ford's second plant in India, the first being near Chennai. Ford India makes the hatchback Figo, Fiesta sedan and Endeavour SUV at the Maraimalai Nagar plant, to the south of Chennai, which has been in operation for over a decade. The plant can make over one lakh cars a year and the engine plant is being expanded. According to the statement, the vehicle manufacturing plant at Sanand will have an initial capacity of 2.4 lakh units and the engine plant an initial annual capacity of 270,000 units. ''Namaste Gujarat!'' said Joe Hinrichs, president and chief executive of Ford Asia-Pacific and Africa, in the statement. ''We are delighted to announce that Ford's newest vehicle manufacturing site will be here in Gujarat. Ford has very aggressive expansion plans in India and in Asia-Pacific and Africa, and these two new plants will be important in realising our growth strategy here in one of the most dynamic regions in the world.'' Ford said it selected Gujarat because of its pro-business environment, infrastructure, access to ports and skilled workforce. The new facilities will allow quick access from operations at the new manufacturing site to the heartland of the critical northern and western India regions, its largest markets. Construction of both plants will begin later this year, with the first vehicle and engine scheduled to come off the line in 2014. In 2010, Ford – spurred by the success of its models, particularly the Figo – announced it would bring eight new vehicles to India by mid-decade. Gujarat industry secretary M Sahu and Michael Boneham, Ford India president and managing director, signed the memorandum of understanding at a ceremony attended by Gujarat chief minister Narendra Modi and Hinrichs. Ford's largest single investment in India follows the success of its India-built Figo model, which helped the group nearly triple its sales last year. Hinrichs said, ''When you look at the combination of the Figo's success last year … with all the product investments we have coming into the industry … and with the new investment going into Gujarat you can see Ford's commitment to our growth here in India. This is really a bet on our future here in India but also a bet on the auto industry's future in India.'' Ford estimates the Asia-Pacific region will account for 45 per cent of global light vehicle sales in 2020, up from 42 per cent last year and 21 per cent at the start of the decade. India's car sector has been growing at record levels over the past three years, and in spite of a recent slowdown is expected to keep on growing between 10-15 per cent in the next five years. The $1-bn investment will be one of the biggest made by a big US company in Gujarat, which was chosen for its pro-business reputation and investment in infrastructure. It has been one of the most successful Indian states in attracting foreign investment, partly attributed to its efforts against corruption.


Cognizant Technologies to acquire CoreLogic's Indian operations for

$50 million In a move boost its capabilities in the end-to-end mortgage services, the US-headquartered Cognizant Technologies Ltd (CTL), which has a large India base announced the acquisition CoreLogic's Indian operations, provide specialised offshore transaction processing services, for $50 million, in a cash transaction. Adjustments towards working capital and other charges or credits which would be determined at its closing are included in the deal. As part of the transaction, the two companies have also entered into a services agreement with a minimum revenue commitment of $324 million plus applicable inflation adjustments, over five years along with various renewal and extension rights. According to R.Chandrasekaran, president and managing director, global delivery, Cognizant, the acquisition would extend his company's footprint in the consumer lending space in North America and enhance its partnership with CoreLogic. He also said the company wanted to expand its portfolio offerings with CoreLogic and strengthen its presence in the consumer lending industry in the US. The deal would also enhance its go-to-market capabilities with a deep understanding of the CoreLogic process, data, and technology platform. He added the partnership would also allow Cognizant to provide a compelling value proposition to customers by leveraging complementary capabilities that Cognizant and CoreLogic India had to offer. The acquisition is being funded from CTL's cash reserves the revenues of CoreLogic are expected to start reflecting on CTL's books after the deal is completed. According to the company, the deal was neither margin-dilutive or accretive and it is confident of maintaining margins at 19-20 per cent. According to analysts, the timing of the acquisition was apt with Cognizant all set to take over the number three slot in IT services from Wipro. The company's results for the April-June quarter are expected to be out on 2 August, where it is most likely to report higher revenues than Wipro's dollar revenue of $1408 million in the same quarter. Analysts say, Cognizant is set to overtake Wipro to become the third largest IT player in India, and being cash rich, could be expected to acquire smaller companies to boost its revenues and expand a geographical presence. CoreLogic India's 4,000 associates will become a part of Cognizant with the closing of the deal expected in August. The India centre of the company provides capabilities across a wide range of IT services including software product development, analytical modelling, domain-centric back-office services. It also provides technology support to CoreLogic and its customers, primarily in the US mortgage and real estate markets. The Indian captive unit was established in 1994. It has offices in Bangalore, Hyderabad, and Mangalore. California-based CoreLogic has over 10,000 employees globally, Cognizant said in a press statement.


Walt Disney to acquire UTV Walt Disney Co plans to acquire the rest of UTV Software Communications (UTV) it does not already own. It intends to delist the company in a deal potentially valued at $454 million, or Rs.2,014 crore, in a move that will see the US entertainment giant expand its presence in Bollywood, media and gaming.

The California-based company, with a 50.44-per cent stake in UTV Software, said in a statement it would buy out public shareholders at a price not exceeding Rs. 1,000 per share, an 11 per cent premium to Monday's stock closing price of Rs.901.8. With this buyout, Walt Disney would gain full control over five businesses. UTV Software, a holding company, is a producer and distributor of movies, broadcasts a clutch of movie and entertainment channels, and is into content production for television and other digital media. It also has a presence in gaming. The company operates through a number of subsidiaries, including movie production under UTV Motion Pictures, Indiagames, and UTV Global Broadcasting that broadcasts entertainment and movie channels, all of which would form part of Walt Disney's Indian unit with the completion of the transaction. The company' stock rose 5.39 per cent to Rs.950.45, on the BSE, following the news of the buyout, one of the biggest in the history of Indian media and entertainment industry. According to Disney, it would also buy the 20-per cent stake held by promoter Rohinton (Ronnie) Screwvala and his associates if it picked up enough shares to delist the company. It said however, that delisting of a public company in India was a long-drawn process that would take months to complete and added that given the multiple stages and the nature of the process, a successful outcome was uncertain. According to the entertainment behemoth, in case the delisting went through as intended, Screwvala would cease to be the chairman and managing director of UTV Software Communications and would take over as managing director of The Walt Disney Company India, responsible for overseeing Indian businesses of the Disney Group. Mahesh Samat, currently managing director of Disney's assets in India, would report to Screwvala as chief operation officer. The statement was silent on what would happen if the offer failed to generate the response required to delist the company. Disney's statement merely said in case of failure to acquire the shares for the delisting process, it would "consider the full range of strategic options". According to analysts, the deal highlights the potential international companies saw in the robust Indian entertainment and media sector. They added UTV and Disney were similar businesses and the acquisition would help Disney synergise its Indian operations. India trails China as the world's third-largest TV market with around 138 million TV households, according to a March 2011 report by KPMG and industry lobby FICCI. The media and entertainment industry is expected to expand 14 per cent annually until 2015 according to the report, with segments such as TV, gaming and animation expected to outpace the industry growth. In a filing to the Bombay Stock Exchange (BSE), UTV Software said it had received a proposal from Walt Disney (a promoter of the company) for delisting of the shares of the company from the stock exchanges. The offer had been approved by the board of directors of the acquiring company which decided that shares held by public shareholders would be acquired at Rs. 1,000 per equity share.


Blackstone Group to invest Rs.500 crore in Visa Power

Private equity giant Blackstone Group has agreed to invest about Rs500 crore ($111 million) in Kolkata-based Visa Group's power business. Blackstone will hold around 25.2 per cent stake in Visa

Power, an independent power producer whose core asset is a 1,200 MW coal-fired plant in Chhattisgarh. Blackstone and Visa Power have been in discussions for more than a year, but a definite deal was signed on Monday. A formal announcement is expected later this week. JM Financial was sole advisor to the transaction. This is Blackstone's third investment in India's power generation sector, the others being in Moser Baer Projects and Monnet Power Company, with the committing almost $500 million in the last 15 months. Visa Group is a $1.1-billion diversified conglomerate with interests in metals, minerals, energy, commodity trading and shipping. Vishambhar Saran, a former Tata Steel executive, founded the group in the mid-90s when he forayed into mining. Besides the Chhattisgarh plant, Visa Power has a pipeline of further 6,600 MW under development, including a 1,320-MW coal-based super critical power plant in Orissa. Visa Power also proposes to set up projects in Gujarat, Madhya Pradesh and Jharkhand. Blackstone's $111 million investment will be utilised for construction and development of its Chhattisgarh project. Visa Power's strategy is to be a low-cost generator by ensuring proximity to its fuel sources. Visa Power's core Chhattisgarh project has been allocated part of a captive coal mine from which it will source the vast majority of its coal requirement, enabling the plant to have a very competitive cost of generation.


Microsoft opens new R&D facility in Bangalore

Global computer software major Microsoft inaugurated its new R&D facility in Bangalore, which would house the Microsoft India Development Centre (MSIDC) there. The Microsoft India Development Centre (MSIDC) team based in Bangalore contributes to Microsoft Corp's adCenter technologies. The 1,54,000 sq ft building would also house researchers from Microsoft Research India, which has been functioning from the city from 2005. Microsoft set up its first R&D centre in the country in Hyderabad, in 1998. Over the past decade India has emerged a key contributor in Microsoft's strategy of global shared development, Qi Lu, president, online services division of Microsoft Corp, said. "The availability of world class talent, advanced infrastructure and proximity to the booming emerging markets of the world are key reasons behind this. The decision to set up our second R&D centre in Bangalore reinforces Microsoft's commitment towards India," Qi added.


New York based Bristol-Myers Squibb to acquire Amira Pharma in a

$475 million deal Global biopharma company, Bristol-Myers Squibb agreed to buy Amira Pharmaceuticals, a developer of new drugs to treat inflammatory and fibrotic diseases, in a $475 million cash deal. Founded in 2005, Amira is a small molecule pharmaceutical company focused on the discovery and early development of new drugs to treat inflammatory disease. Since the company's founding in 2005,

Amira's has discovered seven highly-targeted, novel compounds that progressed to GLP toxicity studies. Four of these compounds are currently being studied in humans. The privately held company has raised $28 million from venture capital firms that include Avalon Ventures, Prospect Venture Partners and Versant Ventures and Novo of Denmark, the majority shareholder of Novo Nordisk. Amira's lead drug candidate, AM152, blocks a protein receptor molecule that binds with the signaling molecule lysophosphatidic acid. Studies have shown that the receptor molecule, known as LPA1, stimulates the growth of various types of fibrous connective tissue that can result in a range of diseases that can damage organs. Federal regulators in April granted orphan-drug status to AM152 for the treatment of idiopathic pulmonary fibrosis, a thickening and scarring disease of the lungs. The San Diego, California-based company sold its first drug candidate, an early-stage respiratory and cardiovascular disease therapy, to GlaxoSmithKline in a $425 million deal in 2008 and currently has a partnership with the London-based drug company for the development of 5-lipoxygenase activating protein inhibitors in respiratory and cardiovascular disease. Under the terms of the deal, Bristol-Myers Squibb will acquire Amira for an upfront payment of $325 million and an additional $150 million as milestone payments. Bristol-Myers Squibb will secure Amira Pharmaceuticals' fibrosis program, including the lead asset AM152, an orally available lysophosphatidic acid 1 (LPA1) receptor antagonist, which has completed Phase I clinical studies and is now poised for Phase IIa proof-of-confidence studies for the treatment of idiopathic pulmonary fibrosis (IPF) and systemic sclerosis (SSc), or scleroderma. The New York-based company will also obtain Amira Pharmaceuticals' preclinical autotaxin program, which may be useful in the treatment of neuropathic pain and cancer metastases. ''Bristol-Myers Squibb has identified fibrotic diseases as an area of high unmet medical need that complements our research efforts in several of our therapeutic areas,'' said Elliott Sigal, executive vice president and head of research and development for the company. The acquisition of Amira is the company's 'string-of-pearls strategy' adopted in 2007, which the company had said is a highly targeted set of transactions designed to expand its experimental drugs pipeline. The acquisition of Amira is the fifth since 2007 when the strategy was put in place. The largest deal was the $1.98-billion acquisition of New Jersey-based experimental biological drug company Medarex in 2009, according to Bloomberg data. But in the same year, Bristol-Myers Squibb failed to acquire a minority stake in neuroscience-based biotechnology company Elan Corporation Plc, which would have led to the US pharmaceutical major acquiring the Irish firm in a multi billion pound deal in the future.


US bodies to invest in Indian renewable power, smart grid projects The US Overseas Private Investment Corp (OPIC) plans to invest up to $820 mn (approximately Rs.3,600 crore) in the fast- growing Indian renewable energy sector by the end of 2011. OPIC President and CEO Elizabeth Littlefield said that to help boost clean energy initiatives, OPIC will invest $520 million in India's renewable energy sector, including solar power. In addition, OPIC will also make private equity investments worth $300 million, especially in small solar companies. Littlefield said these investments would be made by the end of this year.

In addition, the US Trade and Development Agency (US TDA) will extend over $1.4 million for two solar power projects. The US TDA will provide $719,985 as a feasibility study grant to Astonfield Renewables Private Ltd for deploying two solar photovoltaic power projects - 5-MW plant at Bankura, in West Bengal, and a 10-MW project at Belgaum, in Karnataka Leocadia Irine Zac, director, US TDA, said the agency would provide a grant of $686,447 to North Delhi Power Ltd, a joint venture between Tata Power Company and the government of Delhi, for implementing smart grid technology.


DuPont plans centre in Pune with automotive focus

DuPont India, an arm of the American chemical products maker du Pont de Nemours and Co, is planning it to set up a new innovation centre in Pune, to be opened by early next year. The company, for which automotive parts technology is a major driver, plans to collaborate with automobile manufacturers on seven areas, including lightweight technology and safety aspects. ''The DuPont India innovation centre focus primarily on the automotive segment, working collaboratively with local partners, customers and other companies, DuPont president (South Asia) Balvinder Kalsi said. ''In the automotive segment, it will work with automotive OEMs (original equipment manufacturers) and component and system manufacturers to support the fast-growing Indian automotive industry,'' said. DuPont set up its first 'knowledge centre' in India in 2008, focussing on high-end research and applications development. The new centre would be one among four new global DuPont innovation centres in Asia Pacific. The other three centres are in South Korea, Taiwan and Thailand. In India, DuPont is present in various business verticals including agriculture, nutrition, healthcare and electronics. DuPont India is supporting Indian car manufacturers such as Tata Motors in developing electric cars, where its lightweight materials offer a huge advantage. Tata Motors corporate communications head Debashish Ray confirmed this to the Hindustan Times. ''We have developed the Indica Vista electric car for the UK markets, which will be launched later this year,'' he said. ''As for India, the infrastructure in terms of charging points is not ready. It will be too premature to say when we will be rolling out electric Vista for the Indian markets.'' The company provides solutions in hi-tech polymers that are replacing certain metal car components. It also supplies parts that go in making of electric cars. When asked when one can expect such cars to roll out in India, Kalsi said, ''In electric cars or hybrid cars, a lot is being done around the world. Similarly, as carmakers in India look to manufacture these parts, we will provide the solutions in terms of the know-how and the technology.'' ''The Pune centre will collaborate with automobile companies to help address their demand for new technology innovations to support the growth in one of the world's fastest growing markets,'' DuPont India head Amandeep Cheema said. The centre aims to facilitate knowledge exchange among scientist via real time connection to 75 other DuPont research centres. Twenty-four per cent of DuPont's revenue comes from the auto/transportation sector.


California based Life Technologies Corporation invests $3 million in

distribution hub in Bangalore

Califonia Headquartered Biotechnology firm, Life Technologies Corporation (NASDAQ: LIFE) has invested around $3 million to open a distribution hub in Bangalore, which they expect would propel their business in India by 40% this year. "South Asia is one of the fastest growing regions in the world. Opening the India Distribution Center here is a clear demonstration of Life Technologies' commitment to the scientific community, who increasingly conduct high-level research and development in South Asia," said Mark Smedley, president of Asia Pacific & Japan for Life Technologies. The center will distribute products across the country cutting the time taken for delivery from 45 days to two days, Devashish Ohri, managing director, Life Technologies South Asia. This will also increase the cost efficiency for the company. The US-based firm operates as Invitrogen Bioservices India and acquired Labindia in 2010 as a distributor. It clocked in sales of $3.6 billion in 2010 globally.


Freescale Semiconductor Inc. opens R&D center in Hyderabad's SEZ

Headquatered in Austin, Texas, US based Freescale Semiconductor Inc. has set up its India research and development centre in Hyderabad to drive innovation and development of solutions for the company's new platforms. The company has established its centre here to take advantage of India's cost advantage and easy availability of technically skilled manpower. Activity at the new facility is expected to deliver solutions that enhance Freescale's platform for applications including data center, security appliances, mobile wireless infrastructure and small business networking among other leading edge technologies. "This new R&D center underscores our commitment to extending Freescale's market and technology leadership in the networking space by delivering comprehensive, scalable and secure solutions that help speed time-to-market and optimize the performance and cost efficient advantages of our highly advanced Q or IQ and Power QUICC product families," said Senior Vice President & General Manager Dr. Lisa Su. For more than a decade, Freescale has been driving innovation from its India Design Center. "The R&D in Hyderabad SEZ will continue to power innovative ideas and help foster connected intelligence engineered to change the world," said Ganesh Guruswamy, vice president and country manager, Freescale Semiconductor India Pvt. Ltd. Freescale Semiconductor designs and manufactures embedded semiconductors for the automotive, consumer, industrial and networking markets. The company is based in Austin, Texas, and has design, research and development, manufacturing and sales operations around the world.


World's largest consumer goods firm Procter & Gamble upbeat on

India, invests Rs 345 crore in subsidiary P&G Home Products

Procter & Gamble, the world's largest consumer goods firm, has invested Rs. 345 crore in its unlisted arm P&G Home Products in one of its largest investments in a decade in the country. Confirming the fund infusion into the 100% owned subsidiary that makes Ariel, Tide and Pantene, a P&G spokeswoman said the money will go into reaching out to "more consumers, in more parts of India, more completely". Analysts now expect the US giant to be more aggressive in the Indian market, enter new categories, including toothpastes, surface cleaners and hair oils, and make more products locally to offer more mass-consumption products. In an extra-ordinary general meeting, Procter & Gamble Home Products decided to allot 4.6 million shares to Procter & Gamble Overseas India BV, a holding company of the US parent, at Rs. 750 each, aggregating to Rs. 345 crore. This will increase the company's total number of shares to 19.4 million and value it at Rs. 1,455 crore. The money will primarily power P&G's 'Project 2-3-4' strategy to double the number of Indians who use its products, treble per capita spending by Indians on its products and quadruple net sales of its India operations by 2015. The development confirms the Cincinnati-headquartered company's move to shift its focus away from the western markets and catch up with archrival Unilever in emerging markets such as India. While developing markets account for just 30% of global sales for P&G, Unilever gets more than half of its revenues from India, Brazil, Indonesia, South Africa, China and Vietnam. P&G Global Chairman & CEO Robert McDonald's stated goal is to garner 800 million new customers by 2015, most of them from Asia and Africa. The target consumer in these markets is those earning less than Rs. 100, or $2, a day. P&G has three subsidiaries in India. Procter & Gamble Health & Hygiene, which markets feminine hygiene brand Whisper and Vicks anti-cold balm and lozenges, and Gillette India, maker of razors and other shaving products, are listed on the bourses. Procter & Gamble Home Products is the largest subsidiary with presence in big categories such as laundry, hair care and skin care, which together make up a Rs. 18,000-crore market, or more than half of the home & personal care segment. The unlisted firm is also the vehicle for new products and innovations. With annual revenues of more than $1 billion, it is over two times as large as P&G's listed subsidiaries. Between 2005 and 2010, P&G Home Products has generated Rs. 360 crore in profits after tax. And it clocked sales of around Rs, 2,188 crore in the year ended March 2010, but its biggest rival, Hindustan Unilever, was over nine times bigger. Tough Challenge Procter & Gamble sure wants to reduce that gap and challenge Hindustan Unilever's supremacy in the Indian consumer products space. Analysts expect it to enter new categories, push lower-priced innovations, make more products locally and be aggressive in pricing and marketing strategies in the coming months.


US firm Momentive Performance Materials to open R&D centre in

Bangalore US-based Momentive Performance Materials Holdings LLC (formerly GE Bayer Silicone), a speciality chemicals and materials company, announced that it will open a new regional business headquarters and a global research and development centre in Bangalore. With $4-million investment, the facility will initially house 125 associates. They will work on technology platforms and product development for new and existing applications across diverse industry segments. The facility will also house its commercial and business support functions. The company has its warehousing operations headquarters in Chennai into which it has invested $20 million. Growth Opportunities “India's world class technical talent, growing demand for new applications based on our products, and strong regional growth opportunities combine to make this a compelling investment opportunity to fuel and support growth.” said Mr Craig O. Morrison, Momentive Chairman and CEO. Emphasising that the R&D centre here is not just for saving costs but for the quality of output, he said, “We're here because of the intellectual capital that is here, the market that is here.” Dr Eric Thaler, Momentive's Chief Technology Officer, said that the scientists here are “driving tremendous value for our customers through product innovation and new advanced technology platforms, and this new centre will help us attract and retain the top talent needed to continue and accelerate these efforts.” “We believe that combining global technology with local fulfilment is the best way we can support our customers' success,” Mr V. P. Naliaan, Managing Director for India, said.


In the News:

Starting a business in India to take less than a day

India will soon join an elite group of countries where starting a business will take less than a day. The Ministry of Corporate Affairs (MCA) has simplified the procedures for incorporation to enable promoters to get their companies incorporated within 24 hours. The new procedure to issue online certificate of incorporation will be implemented from August 11. Earlier, officials at the Registrar of Companies used to go through the available list of names and approve all documents manually. Incorporation took anywhere between four days to two weeks, depending upon individual issues. Under the new procedure, the promoters need to get the application and other relevant documents certified by a practising professional and the applications will be processed electronically. “In case the e-forms 1, 18, 32 and e-form for Memorandum of Association and Articles of Association have been certified by the practising professional regarding the correctness of the information and declarations given by the subscribers, the application shall be processed electronically and the digital certificate of incorporation shall be issued online immediately by the Registrar of Companies,” the ministry said. Starting business is the first of the 10 sub-indices that form the Ease of Doing Business Index of the World Bank. India has consistently been placed at around 130 among the 183 countries ranked. According to the Doing Business 2010 report, New Zealand, Canada and Australia bagged the top three rankings on the first sub-index, ‘Starting a business’. For example, in Australia, there are two procedures required to start a business which take on average two days to complete. The official cost is 0.8 per cent of the gross national income per capita. There is no minimum capital requirement. By contrast, in Guinea-Bissau which ranked among the worst (183rd) on the same sub-index, there are 16 procedures required to start a business, taking 213 days to complete. The official cost is 323 per cent of the gross national income per capita. A minimum capital investment of 1,006.6 per cent of the gross national income per capita is required. Pawan K Vijay, CEO, Corporate Professionals Pvt Ltd, said the move would go a long way in improving India’s rankings in ease of doing business globally. “It is very positive. Earlier, it used to take 8-10 days. Getting it down to 24 hours will be a big boost.” While fewer and simpler regulations often imply higher rankings, putting adequate safeguards is also crucial, feel experts. “While the ministry officials used to intrepret rules conservatively, professionals may take risk. Therefore, it is important for the ministry to explain the guidelines more explicitly,” said Vijay.


Lawmakers, community welcome Arun Jaitley to US

Senior Bharatiya Janata Party leader Arun Jaitley met with leading members of Congress, think tanks and key members of the Obama Administration during his first official trip to the US,in his capacity of the Leader of the Opposition Party in the Rajya Sabha. Jaitley interacted with prominent lawmakers on Capitol Hill including Congressmen Steve Chabot, Eni Faleomavaega, Howard Berman, Congresswoman Ileana Ros-Lehtinen, Senators Joe Lieberman, Richard Lugar and Dean Heller. During his interactions with the lawmakers, Jaitley stressed on the growing strength of US India relationship, and its strategic nature. He also talked about the convergence on various issues between the two countries especially relating to terrorism and growth of trade. The Co-chairs of the India Caucus in the US Congress, Congressmen Joe Crowley and Ed Royce held a reception on behalf of the Caucus for Jaitley at the Rayburn Congressional Building. Crowley highlighted the importance of Indo-US relations in the fast changing global marketplace. “Mr. Jaitley’s visit represents a great opportunity for the US to continue building a strong relationship with India. In an increasingly globalized economy, it is important for the US to continue to foster friendship with India, which is emerging as a leading growth economy despite the difficult economic landscape.” Congressman Royce too lauded the economic growth of India and hoped that the relations between the two countries would continue to strengthen. He pointed out how important it was for both countries to work together as both have several common values. The Caucus event was attended also by Congressmen Joe Wilson and Hansen Clarke and Congresswoman Corrine Brown and Judy Chu, Co-chair of the Asia-Pacific Caucus. The US India Political Action Committee (USINPAC) welcomed the visit of Jaitley to the US, the first after he took over as the leader of the Opposition in the Rajya Sabha. OFBJP reception. At least 400 members of the Indian American community including representatives of 40 Indian American organizations gathered in Washington DC to welcome Jaitley at a dinner reception on June 23, organized by the Overseas Friends of BJP (OFBJP) – USA. Dr. Adapa Prasad, President of the organization and his office bearers received the BJP leaders by bursting fire crackers. In his address, Jaitley talked about the changing perception of American legislators, the US government, and think-tanks, vis-à-vis a globally emerging India. He expressed happiness over the existence of a good rapport between US think tanks and the BJP leadership on some key global issues. Talking about the direct role of Pakistan in global terrorism, Jaitley explained how India was the first victim of Pakistani terrorism back in 1947 when Pakistani intruders invaded Kashmir. He said that now, the US understands the dubious role of Pakistan in harboring terrorists, while hoping that it would tackle the nerve center of the menace. Jaitley further exhorted OFBJP to take a lead in dealing with issues pertaining to India in the US, and play the role of being the eyes and ears of the BJP party, in the US. He also reminded the Indian Diaspora of their role in conveying the issues of India to the American political spectrum. Dr. Prasad talked about how the Indian Diaspora was pained to see the recent undemocratic acts of the Delhi Police that cracked down on sleeping satyagrahis at Baba Ramdev’s anti-corruption protest fast in Delhi. Of the visiting members of the BJP, Chandan Mitra said that the result of such police brutalities had always resulted in the loss of power by reigning governments, and exhorted the Indian Diaspora to lend their hand in the fight against the Congress led UPA government’s corruption and bringing back the black money stashed abroad; Dharmendra Pradhan requested Indian Americans to be aware of

the current situation in India and encouraged them to engage in the country’s politics; Janardhan Swamy, a career technologist in Silicon Valley, talked of how he made it to politics in India, and asked Indian Americans to consider serving India through politics. Jaitley had earlier started his visit in DC with an address at the Heritage Foundation on “Indian Foreign Policy – Priorities in a Shifting Global Landscape”.


Clinton, Krishna to chart out course for future development India and the US reviewed the progress made in the ties since the November visit of President Barack Obama, but also charted out a course for future development during their second round of Strategic Dialogue in New Delhi. Secretary of State Hillary Clinton and External Affairs Minister S M Krishna spent considerable amount of time on the developments in Afghanistan and Pakistan besides a broad spectrum of issues, diplomatic sources said. “Strategic Dialogue, also included new initiatives in the field of civil aviation, and in the area of cyber-security,” said a senior Indian diplomat here. Besides bilateral issues, discussions on regional issues including the situation in our neighborhood, developments in the Asia-Pacific and in the wider Middle-East were discussed” the official said. The India-US Strategic dialogue, the first meeting of which was held in Washington last year, provides an opportunity to review the entire spectrum of the bilateral relations. It is based on five pillars – (i) Strategic Cooperation that includes defense cooperation and counter-terrorism cooperation; (ii) Energy and Climate; (iii) Economics, Trade and Agriculture; (iv) Science, Technology, Health and Innovation; and (v) Education, Development and Empowerment, the official said. At the upcoming talks, the two co-chairs will review the considerable progress the two countries have made in the ties since the historic visit of Obama last year and also chart out a course for future development, said the official, who has been engaged in the preparations of the talks. Since the Obama visit in November, the official pointed out, there has been an intense high-level engagement. “During this year we have had visits to India by US Commerce Secretary Gary Locke; Senate Minority leader Senator Mitch McConnell; Homeland Security Secretary Janet Napolitano,” the official said. From India there were visits of the National Security Advisor Shivshankar Menon, Commerce Minister Anand Sharma and Finance Minister Pranab Mukherjee. Some of the meetings that have already taken place included the High Technology Cooperation Group (HTCG) in Delhi; Strategic Security Dialogue with Under Secretary Tauscher in Vienna last month; Aviation Steering Group meeting; ICT Joint Working Group meeting; and the Defense Policy Group meeting. Since the visit of Obama, considerable progress has been made in a wide range of areas. While United States has delisted ISRO, DRDO and BDL from its Entities list, it has also re-categorized India in some of its control lists. New Delhi and Washington are also coordinating closely with the US on the issue of India’s membership in four multilateral export control regimes, the official said.

The Homeland Security Dialogue, launched during the visit of Secretary of Homeland Security along with the Counter-Terrorism Cooperation Initiative that was signed last year will provide a structured mechanism for furthering the cooperation in counter-terrorism, the official said. “We are making steady progress in developing joint projects in the area of food security and agriculture in some African countries; as also for capacity building in Afghanistan,” the official said, adding that the strategic consultations between the two countries have expanded. “We already have a dialogue on the Asia-Pacific. This week we will also have the first dialogue on West Asia. This is an outcome of the decision taken during President Obama’s visit,” the official added. The US is also helping us map India’s shale gas reserves pursuant to the MoU for cooperation signed during Obama’s visit. “A Monsoon Desk has been established in NOAA and is working with the Meteorological Survey of India and ISRO for better weather forecasting in India,” the official said.


‘Mismatch in Indian procurement process & US license regime’ Noting that there was a “mismatch” between Indian procurement requirements and the American license regime, the US business chambers has strongly pitched for finding “breakdown” in these procedures and also recommended issuance of a list of “pre-approved” technologies by the US to India. Participating in the 8th meeting of Indo-US High Technology Cooperation Group (HTCG), led by Foreign Secretary Nirupama Rao and US Undersecretary of Industry and Commerce Eric Hirschhorn, the companies from India and the US discussed the commercial and business ties. Presenting recommendations in defense sector, US-India Business Council President Ron Somers said “disappointed over the Medium Multi-Role Combat Aircraft (MMRCA) procurement and the fact that our companies felt that the challenge was from our side, the US government pre-approves technologies that they will be willing to transfer to India. We want action to match the rhetoric. The rhetoric is India has arrived, that India is a strategic partner of the United States. Therefore, let’s have a list of all technologies that we are willing to transfer to India, so that our country can engage substantially with India”. Somers suggested that four case studies – two from each country – should be done to find out the “breakdown” in the procurement process in India and license regime in the US, including missile control regime. In aviation sector, India would like to harness opportunities in areas of aircraft and aircraft components, air traffic management, aviation safety, security and capacity building. Underperformance Earlier, Foreign Secretary Nirupama Rao said at the Opening Plenary India’s high technology ties with the US have underperformed, particularly in commercial sectors, and pitched for promoting cooperation in R&D, design, commercialization and production. “There is a shared perception that the HTCG has in a sense underperformed and underachieved, especially in commercial sectors.” “While the focus has been on conventional trade and market access, we must now focus equally on promoting cooperation in research and development, design, commercialization and production,” Rao said. She said the two sides must not only focus on barriers to trade, but also on commercial opportunities in the broadest sense.

In the defense sector, India would lay emphasis on building national capacity through joint production, joint research and development and transfer of technology, Rao said adding that such collaborations would create the same kind of mutual benefit that we see in other economic sectors. “Regulatory framework in both countries should evolve in a manner that facilitates trade and expands opportunities for collaboration in defense equipment and services,” she said. Rao said the two sides should look at innovative models to harness opportunities in aviation sector, aircraft and aircraft components, air traffic management, repairs and maintenance, aviation safety and security and capacity building. Rao said the best was to make progress in the HTCG was to identify tangible and time bound goals for each sector. “We are likely to be more successful if we identify one or two key goals each year rather than a wide array of diffused goals and priorities,” she said. “It is equally important to identify specific activities and national actions that would enable us to achieve the desired outcomes,” Rao said. Speaking on the occasion, US Undersecretary of Industry and Commerce Eric Hirschhorn said that India and the US must continue efforts to eliminate policies that discourage research and innovation. “We must find new ways to breakdown tariff and non-tariff barriers to trade that stifle cooperation,” he said. US export controls affect less than one per cent of trade with India, Hirschhorn said adding that US authorities have approved 400 export licenses for controlled technologies and 99 per cent of applications had got permissions.


US Trade Development Agency (USTDA) Director concludes

participation in US-India Strategic Dialogue US Trade Development Agency (USTDA) Director Leocadia Zak concluded USTDA’s participation in the U.S.-India Strategic Dialogue, the premier bilateral engagement between the two countries. During the Dialogue, Director Zak met with key Indian and U.S. public and private sector officials to discuss opportunities for cooperation and enhanced trade. “USTDA has a very strong relationship with India, supporting several projects in key sectors that are vital to the Indian government’s goal of improving the country’s infrastructure,” stated Director Zak. “The U.S.-India Strategic Dialogue is a key component to our countries’ partnership, and I am pleased and honored to join Secretary Clinton in this important event.” USTDA has a number of ongoing successful programs in India, including the U.S.-India Energy Cooperation Program (ECP) and the U.S-India Aviation Cooperation Program (ACP), two public-private partnerships which bring together leaders in their sectors from both countries to share expertise, best practices, and other resources to develop programs that support closer economic ties. In addition to her participation in the Strategic Dialogue, Director Zak joined Federal Aviation Administrator Babbitt in meetings with the Indian Ministry of Civil Aviation and companies from the ACP and Deputy Secretary of Energy Poneman in meetings with Indian officials responsible for clean energy deployment and companies from the ECP.

During the Strategic Dialogue, Director Zak signed three grants to support feasibility studies for two new energy projects and the deployment of a ground-based aviation system. The first energy project is a $719,985 grant to Astonfield Renewables Private Limited to prepare the design and deployment of two solar photovoltaic projects in Karnataka and West Bengal states; and the second is a $686,447 grant to North Delhi Power Limited for the implementation of smart grid technology on their distribution network. Each represents avenues for India to increase their power supply through new generation and energy efficiency retrofits, which holds the potential for significant exports of U.S.-manufactured goods and services. Lastly, USTDA concluded an agreement for $407,325 to support the Airport Authority of India’s efforts to install and commission a pilot Ground Based Augmentation System (GBAS) at the Chennai International Airport. This program will be undertaken by Honeywell, in cooperation with the Airport Authority of India. The opportunity to conduct the two USTDA-funded energy feasibility studies will be competed on the Federal Business Opportunities (FBO) website. A link to those announcements will be posted to

USTDA's website at www.ustda.gov. Interested U.S. firms should submit proposals according to the instructions in the announcement.


Hillary Clinton praises Indian-American community's role Highly praising the significant role of the Indian-American community in strengthening the ties between the two countries, US Secretary of State Hillary Clinton has said that the Indian Diaspora would help Washington and New Delhi to write the next chapter of relationship between the two great democracies of the world. "Indian-American has contributed so much to the fabric of our society. We know that you are scholars and business leaders, politicians and artists, musicians, academics, physicians, lawyers and so much more and you have helped to cement the bonds between India and the US," Clinton said. "You and I, the Diaspora community, would help write the next chapter of the US-India partnership," she said in a video message to a conference on Indo-US relationship organised jointly by the East West Center and the India US World Affairs ahead of the second Indo-US Strategic Dialogue to be held in New Delhi.


Indian Talent Pool in US Waiting to be Tapped Most Indian students in the US plan to return home with a desire to give back to the motherland, offering a vast pool of talent that would bring top-rate higher education to India’s young, a new study suggests. India needs to recruit at least one million new faculty members for its college and universities if it is to meet the government’s goal of making higher education available to 20 percent of young people by 2020. India thus may be able to recruit some of the academic talent it needs from the more than 100,000 Indians currently studying in the US, suggests the study by Rutgers University, Pennsylvania State University and the Tata Institute of Social Sciences (TISS). The survey of nearly 1,000 Indians who are either pursuing or have completed graduate study in the US found that only eight percent strongly prefer to remain in the US. A majority, or 53 per cent, of

them planned to return home from the United States after a few years of work, while 21 per cent said they were either in India already or were actively looking to return. The rest are undecided. India’s booming economy, better chances to secure a good job, the promise of an affluent lifestyle and being closer to family were the factors fuelling the movement home, the survey said. The study finds the biggest factors deterring master’s, PhD students, and post docs from returning to India are red tape, corruption, and absence of research opportunities, it said. “The results are surprising and encouraging for Indian universities,” said David Finegold, dean of the Rutgers’ School of Management and Labour Relations, and one of the study’s authors. “We expected that more students would lean heavily toward remaining in the US. But our results suggest many young academics would be interested in pursuing a faculty career in India, if policymakers can address some of the key issues facing the Indian higher education system.” The study identified four key factors affecting the decision to return to India: Quality of life, career growth opportunities, hurdles like red tape and corruption, and a desire to give back to the motherland. Just one of these four factors – the desire to give back – is strongly associated with a desire to return to India, it said.


India and US to Sign Bilateral Aviation Safety Agreement, Dr. Nasim

Zaidi Dr. Nasim Zaidi, Secretary, Ministry of Civil Aviation launched "India Aviation-2012", the 3rd international Exhibition and Conference on Civil Aviation. The event will be held at Begumpet Airport from 14-18th March, 2012. Addressing on the occasion, Dr. Zaidi said that it would be necessary to redefine the parameters of regulation in order to assure travellers the guarantee of safety. The ministry is considering restructuring the DGCA into a Civil Aviation Authority (CAA). In order to prevent repetitive accidents, an Independent Civil Aviation Accident Investigation Committee has been set up within oversight of Ministry of Civil Aviation to coordinate and oversee the investigation into accidents and also effective follow up of compliance of recommendations. Steps are under way to set up a full-fledged Independent Accident Investigation Board. He announced that a land mark Bilateral Aviation Safety Agreement has been approved by the Cabinet and will be signed with USA, during the visit of Ms. Hilary Clinton, US Secretary of State. The proposed agreement will open up huge market for export of aeronautical products manufactured in the country in USA and other regions of the world. This will open up huge potential for investment. Emphasizing the passengers' facilities and consumer protection, he said that the rights of the passengers need to be respected and protected at all times. The significant steps for consumer protection has been taken through CARs on disability related rights, refunds, cancellations, delays, over-bookings and denied boarding’s. He suggested that Airlines and Airports should compete with each other in offering to passengers better of facilities, services and protection of their rights. He announced that a task force is working in Ministry to prepare an outline to set up an Ombudsman institution in civil aviation sector. Ministry of Civil Aviation has also set up an Innovation Council to suggest primarily IT lead innovations to improve products, services and customer related matters by airlines, airports and air traffic management service providers.

Dr. Zaidi also announced that the Ministry of Civil Aviation is also proposing to declare 18th February every year as Civil Aviation Day. On connectivity, he said that the Ministry is reviewing policy of route dispersal guidelines to enhance connectivity in inaccessible areas and islands of the country. With a view to increase regional connectivity, regulatory framework pertaining to schedule and regional operators is also currently being reviewed to ensure that regional connectivity gets boost with the support of Airports Authority of India and private sector participating in the development of Tier II and Tier III cities. A task force is also working to examine the ways and means required to cut transaction time, cost and various other measures to simplify procedures to improve business environment with regulatory authorities. Highlighting the growth of Civil Aviation Sector that the Secretary said that the sector has registered phenomenal growth in India in past decade. Passenger traffic has grown at 18% year on year basis and the year 2010 closed at 90 million passengers both domestic and international. India is the fastest growing aviation market and expected to be within 4-5 big aviation markets by 2020 and 3rd in terms of domestic market after US and China. India will cross 450 million mark of domestic passengers by 2020. During the last two decades from a fleet of only about 100, the scheduled operators today have 435 aircrafts connecting the nation and the world. It is projected that the center of gravity in the aviation industry will be shifting to the Asia-Pacific region in the coming years. Considering the geographic position of India, it has the potential to become an aviation hub at the cross roads between Europe/ Middle East and Asia Pacific. He informed that T-3 Terminal at Delhi International Airport is already evolving into a hub. About 11000 passengers are transiting from various spokes to different destinations in the world by utilizing spoke and hub system. Air India is already contributing to this growth including Jet Airways. It is also proposed to develop Mumbai and Chennai as hubs in next 2 years. The "India Aviation-2012", the 3rd international Exhibition and Conference on Civil Aviation is being organized by the Ministry of Civil Aviation jointly with the Federation of Indian Chambers of Commerce & Industry (FICCI). It will witness participation of over 250 exhibitors comprising of Aircraft Manufacturers, Aircraft Machinery & Equipment Companies, Aircraft Interiors, Airlines, Airlines Services & Air Cargo, Skill Development, Airport and Infrastructure, MROs. The exhibition will be spread over as area of 20,000 square meters. UK is the partner country for the 2012 event with France as Focus country and USA as the Guest Country. The Host State is Andhra Pradesh and the Overseas Associate for the show is Famborough International Ltd. Apart from the Exhibition, India Aviation-2012 will have a conference on policy issues and business aspects of the civil aviation sector, a CEOs Forum representing chief executives of leading aviation companies, Chalets, Static Display, Demonstration Flights and Media Conferences.


Indo-US ties on ‘much better trajectory’ now: Meera Shankar Indo-US ties have deepened across “a very broad spectrum” involving political, strategic and economic spheres and cooperation in counter-terrorism and defense sector, feels India’s top diplomat here Meera Shankar at the end of her nearly two-and-a-half year tenure.

“Certainly the relationship has consolidated. And it is on a much better trajectory. But there is need for both countries to continue to engage in how we can build on the gains that we have made,” Shankar told. The India-US relationship has deepened and expanded across a very broad spectrum – political, strategic and economic, she said. “Initially, the relationship began to grow in the economic field in the early 90s after the liberalization in India because there were new economic opportunities which had not existed before. And then we saw that with the visit of (then) President (Bill) Clinton there was a greater political interest in India,” she said. This was taken further by former President George W Bush, particularly in his second term when the nuclear cooperation initiative was launched and that became “in a sense a vehicle for transforming the relationship,” said Shankar. Under the Obama administration, the two countries have completed various negotiations, including on reprocessing of spent fuel, she said when asked about the progress made on the landmark treaty between the two countries. Shankar also noted that India’s National Investigation Agency was given access to David Headley, who has confessed to his involvement in the Mumbai attacks, for questioning for almost a week, that revealed the full dimension of the conspiracy with regard to the 26/11 strikes.


Let US consulate in Chennai adjudicate blanket L visa applications:

Report

The US consulate in Chennai should be designated as the only post in India authorised to adjudicate blanket L visa applications, mostly involving requests from IT professionals, according to an official report.

In a wide-ranging set of recommendations, the 90-page report of the Office of the Inspector General on the US diplomatic posts in India said that one of the biggest challenges consular managers in India face is ensuring consistency in the standards of adjudication on H and L visas.

"The inconsistencies arise from the complexity of these visa categories and create public relations problems, as large companies note different decisions for employees in similar circumstances," it said. "Mission India processes more such cases than any other mission in the world. Many involve applicants who work in the information technology sector. Because the law is complex, consular officers need more time to adjudicate such cases and need to exchange ideas with their colleagues who are working on similar cases. Officers must refuse applicants who do not meet the qualifications under the law," it said.

"Because the applicants apply based on petitions that were approved by the Department of Homeland Security, consular officers must request that department to revoke the petitions," said the report, which was made public. It also recommended that the US embassy in New Delhi should coordinate with Consulate General Chennai so that the call centre in New Delhi will respond to all routine phone calls and emails for Chennai as it does for the other posts in India.

Given the heavy demands on their time, the Ambassador, deputy chief of mission (DCM) and senior staff should develop a comprehensive strategy to allocate the Ambassador's and their responsibilities for engaging with top-level Indian counterparts and for managing their growing

workload, the report said, adding the DCM should lead this effort. It recommended that the US consulate in Chennai should be designated as the only post in India authorised to adjudicate blanket L visa applications.

Noting that housing issues are the mission's greatest management challenge and finding affordable, quality housing is becoming increasingly difficult, especially in New Delhi, Mumbai and Hyderabad, the report said the mission and the Bureau of Overseas Buildings Operations should plan to build housing units on US Government-owned land.


India and US Sign Bilateral Aviation Safety Agreement The bilateral Aviation Safety Agreement (BASA) between India and the U.S.A. has been signed by Dr. Nasim Zaidi, Secretary, Civil Aviation and Mr. J. Randolph Babbitt, Administrator, Federal Aviation Administration (FAA). The signing coincides with the visit of US Secretary of State Ms. Hillary Clinton to India. The signing took place in the presence of Senior Officers from the Ministry, DGCA, AAI from the Indian side and FAA and USTDA from the US side. BASA will facilitate reciprocal airworthiness certification of civil aeronautical products imported/exported between the two signatory authorities. Indian standards would be comparable to global standards and its aeronautical products would be accepted by the U.S. The nascent aircraft manufacturing industry in India would be hugely benefitted and it would spur trade between the two sides. It would demonstrate that India has the capability to develop FAA certifiable aircraft articles/appliances. It would encourage the civil aeronautical products industry which will eventually lead to self sufficiency in the sector. BASA would encourage indigenous aircraft and aeronautical products industry and the US acceptance of Indian products will help their global acceptance. It would lessen the economic burden imposed on the aviation industry and operators by redundant technical inspections, evaluations and testing. The next stage is to sign the implementation Procedures for Airworthiness (IPA) which provides for airworthiness technical cooperation between FAA and its counterpart civil aviation authorities. The scope of IPA can be enhanced from time to time. The USA has signed BASA with 24 countries.


US seeks bilateral consultations on terror financing A top US government official, Daniel L Glaser, assistant secretary for terrorist financing, US Treasury said India and the US should share best practices to combat terrorist financing and that such a relationship has become a 'critical' part of the relationship between the two countries. ''India plays a very important role in combating global terrorist financing. It is important that the two countries consult and share crucial financial intelligence for a safer world,'' said Daniel L Glaser, assistant secretary for terrorist financing, US Treasury.

Seeking more co-operation between India and the US on anti-money laundering and counter terrorist financing (or AML/CFT), Glaser said, ''As India continues to take a greater leadership role on these issues, it is important that our two countries engage in regular bilateral consultations.'' ''Both India and US understand the importance of a strong financial system. But we must also keep in mind the potential risk from illicit financing. The need to recognise this and how it is used in financing terrorist activities has become a critical part of the relationship between the two countries,'' Glaser said.


Clinton, Mukherjee for boosting India US partnership

Union finance minister Pranab Mukherjee told the US delegation led by the US secretary of state, Hillary Clinton that India attaches high importance to the India US strategic and economic partnership.

Mukherjee stated that India is carrying its reforms agenda further by making major change in the tax sector – involving both direct and indirect taxes. Mukherjee said that in the field of direct taxes, efforts are on to make direct tax code (DTC) effective 1 April 2012. In the field of indirect taxes, efforts are also on to build a consensus among all the stakeholders including state governments to make Goods and Services Tax (GST) effective at the earliest. He said that Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI) are expected to finalise the guidelines for the Infrastructure Debt Fund soon, which would help in

expediting investment by US companies in India. Speaking on the occasion, Clinton expressed her hope that the relationship between India and US in the field of trade, infrastructure investment, business, defence and strategic issues would be further strengthened. She said that US and India have an excellent working relationship, especially in fields of economic and financial partnerships. She said that India can play a major role in enhancing regional economic cooperation and optimising the large potential available in this region. She specifically mentioned that India can play a major role in the economic development of Afghanistan. Responding, Mukherjee said that India is already engaged in economic development of Afghanistan and helping it in building roads and improving power generation among others. Mukherjee also said that India would make efforts to ensure that the India US participation in trade, investment, agriculture and education further expand in future.


India may join select club of nations exporting N-reactors

India could soon join a select group of countries like US, China and France which exports nuclear reactors, a US Congressional report says. The report substantiates an earlier World Nuclear

Association report, which said India was offering its indigenous 220 and 540 megawatt heavy water reactor designs for export. The World Nuclear Association report identified no specific customers for India's technology. "Only Canada, China, France, Japan, Russia, South Korea, and the United States export nuclear reactors. India may join this group in the near term," the Congressional Research Service (CRS) said in its latest report 'Nuclear Energy Cooperation with Foreign Countries Issue for Congress.' CRS is an independent and bipartisan research wing of the US Congress, which prepares periodic report on issues of interest to the lawmakers. The CRS report also pointed out that only a limited number of countries conduct commercial enrichment and reprocessing of fissile materials and can supply this technology. "Commercial reprocessing is now being done in France, the United Kingdom, Russia, Japan, and India," the report said.


India for expanding renewable energy cooperation with the US India has called for enhancing cooperation with the USA in the field of renewable energy by extending it to new areas such as small hydro power, technology transfer and storage of renewable energy. The two countries discussed a range of possibilities for cooperation in the field of renewable energy during the meeting between minister of new and renewable energy, Dr. Farooq Abdullah and deputy secretary, department of energy, USA, Daniel B. Poneman in New Delhi. The Indian side also suggested cooperation in the integration of solar and wind energy, small grid and policy framework for enhancing deployment of renewable energy in energy mix. The two leaders noted that solar energy, wind energy and bio-fuels have been identified for cooperation between the two countries under the Indo-US Energy Dialogue. Dr. Abdullah explained the initiatives and steps taken by India to enhance deployment of renewable energy in the country. In this respect, he made a special mention of the Jawahar Lal Nehru National Solar Mission which aims at harnessing the vast potential of solar energy in India.

Indian-Origin Doc appointed Chairperson of AMA's section

Vijaylakshmi Appareddy, an Indian-origin senior doctor from Andhra Pradesh, has been appointed the chairperson of American Medical Association (AMA)’s International Medical Graduates (IMG) Section. AMA endorses the interests of physicians who have earned their medical accomplishments from outside the US and Canada. Currently a member of the Board of Governors of Parkridge Valley Hospital Systems in Chattanooga in Tennessee State, Appareddy has served as a delegate to the AMA House of Delegates for the last four years and is a member of the Tennessee delegation to the AMA. In 2002, she had the honour of

being the youngest physician to be elected as the chairperson to the Board of Trustees of American Association of Physicians of Indian Origin (AAPI) and also became the first Indian-American woman to receive a non-career presidential appointment wherein she became a member of the President Bush's Committee for People with Intellectual Disabilities.


Indo-US Trade Statistics

Analysis:

India's Foreign Trade: June, 2011

EXPORTS (including re-exports) India’s exports during June, 2011 were valued at US $ 29213.14 million (Rs. 131031.43 crore) which was 46.45 per cent higher in Dollar terms (41.06 per cent higher in Rupee terms) than the level of US $ 19948.18 million (Rs. 92892.68 crore) during June, 2010. Cumulative value of exports for the period April-June 2011 -12 was US $ 79003.74 million (Rs 353338.87 crore) as against US $ 54221.16 million (`247574.57 crore) registering a growth of 45.71 per cent in Dollar terms and 42.72 per cent in Rupee terms over the same period last year. IMPORTS India’s imports during June, 2011 were valued at US $ 36872.49 million (Rs.165386.41 crore) representing a growth of 42.46 per cent in Dollar terms (37.22 per cent in Rupee terms) over the level of imports valued at US $ 25883.03 million ( Rs. 120529.51 crore) in June, 2010. Cumulative value of imports for the period April-June, 2011-12 was US $ 110613.80 million (Rs. 494763.07 crore) as against US$ 81202.60 million (Rs. 370182.12 crore) registering a growth of 36.22 per cent in Dollar terms and 33.65 per cent in Rupee terms over the same period last year. CRUDE OIL AND NON-OIL IMPORTS: Oil imports during June, 2011 were valued at US $ 10180.1 million which was 30.09 per cent higher than oil imports valued at US $ 7825.4 million in the corresponding period last year. Oil imports during April-June, 2011-12 were valued at US$ 30527.2 million which was 18.10 per cent higher than the oil imports of US $ 25849.5 million in the corresponding period last year. Non-oil imports during June, 2011 were estimated at US $ 26692.4 million which was 47.82 per cent higher than non-oil imports of US $ 18057.6 million in June, 2010. Non-oil imports during April -June, 2011-12 were valued at US$ 80086.6 million which was 44.68 per cent higher than the level of such imports valued at US$ 55353.1 million in April - June, 2010-11. TRADE BALANCE The trade deficit for April - June, 2011-12 was estimated at US $ 31610.06 million which was lower than the deficit of US $ 26981.44 million during April -June, 2010-11.

EXPORTS & IMPORTS: (US $ Million)

(PROVISIONAL) JUNE APRIL-JUNE

EXPORTS(including re-exports)

2010-11 19948.18 54221.16

2011-12 29213.14 79003.74

%Growth2011-12/ 2010-2011 46.45 45.71

IMPORTS

2010-11 25883.03 81202.60

2011-12 36872.49 110613.80

%Growth2011-12/ 2010-2011 42.46 36.22

TRADE BALANCE

2010-11 -5934.85 -26981.44

2011-12 -7659.35 -31610.06

EXPORTS & IMPORTS : (Rs. Crore)

(PROVISIONAL) JUNE APRIL-JUNE

EXPORTS(including re-exports)

2010-11 92892.68 247574.57

2011-12 131031.43 353338.87

%Growth2011-12/ 2010-2011 41.06 42.72

IMPORTS

2010-11 120529.51 370182.12

2011-12 165386.41 494763.07

%Growth2011-12/ 2010-2011 37.22 33.65

TRADE BALANCE

2010-11 -27636.83 -122607.55

2011-12 -34354.98 -141424.20


Full text of India-US Joint Statement

India-US Strategic Dialogue.

Minister of external affairs S M Krishna and US Secretary of State Hillary Rodham Clinton met in New Delhi on July 19, 2011, for the second annual meeting of the India-US Strategic Dialogue. The leaders recognized the achievements made since the inaugural Strategic Dialogue in June 2010 and President Obama's historic visit to India in November 2010 in advancing the two countries' shared interests. They committed to continuing to broaden and deepen the India-US global strategic partnership.

As a testament to the relationship's extraordinary breadth and depth, Secretary Clinton was accompanied by Director of National Intelligence James Clapper, the President's Advisor for Science and Technology Dr John P Holdren, Department of Energy Deputy Secretary Daniel Poneman, Department of Homeland Security Deputy Secretary Jane Holl Lute, and other senior US government officials.

Minister Krishna was joined by Deputy Chairman of Planning Commission Montek Singh Ahluwalia, Prime Minister's Public Information Infrastructure and Innovation Advisor Sam Pitroda, Foreign Secretary Nirupama Rao, and other senior officials.

Minister Krishna was also joined at the working lunch by Home Minister P Chidambaram and Minister for Human Resource Development and Information Technology Kapil Sibal.

As part of Secretary Clinton's visit to India, she met with Prime Minister Dr Manmohan Singh, Chairperson of the United Progressive Alliance Sonia Gandhi, Finance Minister Pranab Mukherjee, Leader of the Opposition in the Lok Sabha Sushma Swaraj, and National Security Advisor Shivshankar Menon.

Secretary Clinton offered her prayers and sympathies to the victims of the despicable attacks in Mumbai on July 13. The American people stand with the Indian people in times of trial, and offer support to India's efforts to bring the perpetrators of these terrible crimes to justice. Minister Krishna welcomed the expressions of support from the Secretary, the President, and the US Congress. The two leaders resolved to strengthen cooperation between their governments to fight against terrorism.

Since the inaugural Strategic Dialogue in 2010, the India-US partnership has resulted in advances in nearly every area of human endeavor. The two sides have expanded their strategic consultations to cover all major issues and regions of the world. They have increased counterterrorism cooperation, intelligence sharing, and law enforcement exchanges. They have continued to expand their defence cooperation. They have expanded their growing partnership on export controls and non-proliferation. They have witnessed an expansion of the already robust people-to-people ties; scientific, space, and technology collaboration; clean energy cooperation; and connections among entrepreneurs and social innovators.

The two leaders emphasized our countries' shared values – pluralism, tolerance, openness, and respect for fundamental freedoms and human rights. They reiterated Prime Minister Dr Manmohan Singh's and President Barack Obama's pledge to harness these shared strengths and to expand the India-US global partnership for the benefit of their countries; and, for peace, stability, and prosperity in Asia and the world.

Today, the two leaders reviewed progress in bilateral relations and set new goals to further strengthen the India-US Global Strategic Partnership.

Global Stability and Prosperity

• Marking the expansion of strategic consultations, the two sides launched a Central Asia Dialogue in June 2011 in New Delhi and a West Asia Dialogue in July 2011 in Washington DC. The two sides intend to expand strategic consultations to other regions, including Latin America and Caribbean, and plan to hold the fourth round of the East Asia Dialogue in September 2011.

• India, the United States, and Japan plan to commence a trilateral dialogue at senior official level.

• They welcomed the launch of bilateral dialogue on United Nations matters in New Delhi in March 2011. The two sides intend to continue this dialogue and meet next in Washington in early 2012, while continuing regular consultations between capitals and in UN cities as appropriate.

• Following on the successful meeting of the Joint Working Group (JWG) on UN Peacekeeping Operations in March 2011 in New Delhi, the two countries hope to conduct their 10th meeting of the JWG in early 2012.

• The two sides reaffirmed their commitment for consultation, coordination, and cooperation on Afghanistan, and to work jointly in Afghanistan in capacity building, agriculture, and women's empowerment, expanding on work already underway. Both sides agreed to Afghan-led, Afghan-owned, and inclusive reconciliation.

• The two sides acknowledged that increased trade, transit, and commercial linkages across South and Central Asia will benefit Afghanistan and contribute to the region's long-term peace, stability, and prosperity.

• The two sides intend to promote food security in Africa through a triangular cooperation program with Liberia, Malawi, and Kenya. A promising area of potential collaboration includes the participation of Africans at Indian universities and research and technical institutes in mutually agreed capacity building programs. The two sides agree to explore additional areas based on requests from the three African countries.

• As part of the India-US Dialogue on Open Government launched in November 2010, the two countries have committed to jointly create an open source "Data.gov" platform by the first quarter of 2012 to be taken to interested countries globally. Leveraging the high-technology strengths and institutional expertise of both India and the United States, the ''open source'' platform is intended to provide citizens access to Government information via a user-friendly website and a package of e-Governance applications to enhance public service delivery.

• The two sides reiterated their commitment to work together to strengthen election management capacity in interested countries. They welcomed the technical collaboration between the Indian

International Institute of Democracy and Election Management and the Washington DC-based International Federation of Electoral Systems.

• Secretary Clinton recalled President Obama's statement that, in the years ahead, the United States looks forward to a reformed UN Security Council that includes India as a permanent member.

Enhancing the US – India Bilateral Relationship

Defence, security and counter-terrorism

• The two sides launched the Homeland Security Dialogue in May 2011 in New Delhi, and have decided upon on a program of cooperation in global supply chain management, megacity policing, combating counterfeit currency and illicit financing, cyber security, critical infrastructure protection, and capacity building and technology upgrading.

• They reiterated their commitment to further strengthen counter-terrorism cooperation, including through intelligence sharing, information exchange, operational cooperation, and access to advanced counter-terrorism technology and equipment. The two sides had their ninth meeting of the Joint Working Group on Counter-terrorism in March 2011 in New Delhi.

• The two leaders reiterated that success in Afghanistan and regional and global security requires elimination of safe havens and infrastructure for terrorism and violent extremism in Afghanistan and Pakistan. Condemning terrorism in all its forms, the two sides confirmed that all terrorist networks must be defeated and called for Pakistan to move expeditiously in prosecuting those involved in the November 2008 Mumbai terror attack.

• The two sides reiterated their commitment on comprehensive sharing of information on the investigations and trials relating to the November 2008 Mumbai terror attack.

• The two countries held cyber consultations on July 18, led by their two National Security Councils, at which they exchanged views on a broad range of cyberspace issues and coordinated bilateral cooperation on cyber issues. The United States and India signed on 19 July 2011 a Memorandum of Understanding between our Computer Emergency Response Teams (CERT-IN and US-CERT) to exchange information on cyber attacks and mutual response to cybersecurity incidents, to cooperate on cybersecurity technology, and to exchange information on cybersecurity policy and best practices and capacity building and exchange of experts.

• India and the United States welcomed progress in bilateral defence cooperation. The Defence Policy Group met in March 2011 and plans to meet again in early 2012.

• The two sides noted India's defence orders from US companies have reached a cumulative value of over USD 8.0 billion in the last decade. The two sides noted that these sales reflect strengthened cooperation. Both sides also affirmed their desire to strengthen cooperation through technology transfer, and joint research, development and production of defence items.

• They noted progress in defence bilateral exchanges, exercises, capacity building, information sharing, including in the areas of counternarcotics, counter piracy, maritime safety and humanitarian assistance/disaster relief. They affirmed the importance of maritime security, unimpeded commerce, and freedom of navigation, in accordance with international law, and the peaceful settlement of disputes.

• The United States and India agreed to continue consultations on maritime security cooperation in the Indian Ocean Region in existing forums such as Defense Policy Group and its appropriate sub-groups. They also agreed to exchange views on promoting regional security architecture that enhances maritime security in the Indian Ocean Region.

• The United States welcomed India's decision to chair a plenary of the Contact Group on Piracy off the Coast of Somalia in 2012.

Civil Nuclear Cooperation

• The two leaders welcomed the continued commitment of the two governments for full implementation of the India-US civil nuclear energy cooperation agreement. They reiterated their commitment to build strong India - US civil nuclear energy cooperation through the participation of US nuclear energy firms in India on the basis of mutually acceptable technical and commercial terms and conditions that enable a viable tariff regime for electricity generated. They noted that the United States has ratified the Convention on Supplementary Compensation (CSC) and India intends to ratify the CSC within this year. They further noted that India is committed to ensuring a level playing field for US companies seeking to enter the Indian nuclear energy sector, consistent with India's national and international legal obligations.

• The United States looks forward to hosting a senior-level Indian delegation at the US-India Civil Nuclear Energy Working Group (CNEWG) next week at Oak Ridge Laboratory.

Membership of Export Control Regimes

• Both sides expressed satisfaction with the progress we have achieved together towards India's full membership of the four multilateral export control regimes – Nuclear Suppliers Group, Missile Technology Control Regime, Australia Group and the Wassennaar Arrangement – in a phased manner consistent with the core principles of these regimes, as the Government of India takes steps towards the full adoption of the regimes' export control requirements.

Export Control Cooperation

• India welcomed steps taken by the United States to remove Indian entities from the US Department of Commerce's 'Entity List' and realignment of India in US export control regulations. Both sides agreed to continue efforts to fulfill objectives of strengthening export control cooperation envisaged in the Joint Statement of November 2010 as well as on the basis of discussions in the High Technology Cooperation Group held earlier this month.

Nuclear Security

• The two sides looked forward to holding later this year the first meeting of the US-India Joint Working Group to implement the MOU on Cooperation with India's Global Centre for Nuclear Energy Partnerships.

Strategic Security Dialogue

• Both sides view the Strategic Security Dialogue, the last round of which was held in Vienna on 14 June 2011, as a vital element in their dialogue architecture which has strengthened the common ground in promoting global non-proliferation objectives. Both sides also discussed key issues on the

multilateral agenda, and looked forward to the commencement of negotiations of the Fissile Missile Cutoff Treaty in the Conference on Disarmament.

Prosperity

• The two sides welcomed increases of 30 percent in bilateral trade in 2010 over the previous year and the balanced and positive growth in services trade. They also welcomed the increase in foreign direct investment flows in both directions.

• The two governments plan to resume technical-level negotiations on a bilateral investment treaty (BIT) in August in Washington DC A BIT would enhance transparency and predictability for investors, and support economic growth and job creation in both countries.

• The two sides reiterated their commitment to take steps to expand trade ties. The India-US Trade Policy Forum plans to meet in October 2011, and on-going public-private discussions are to continue under the Commercial Dialogue.

• The two governments intend to participate in the first Consular Dialogue on July 25 in Washington DC for a full discussion of visa and other consular matters.

• The two governments signed a Bilateral Aviation Safety Agreement (BASA) on July 18.

• The US Overseas Private Investment Corporation (OPIC), the US Export-Import Bank, the US Trade Development Agency (USTDA), and US Agency for International Development, in coordination with multiple US government agencies, are participating in the development of clean and renewable energy projects, energy-efficient buildings and Smart Grids in India. The two leaders welcomed the progress in the USTDA supported bilateral Energy Cooperation Programme, announced in November 2010, which works with Indian and US businesses on deployment of clean energy technology in India. The bilateral Joint Clean Energy Research and Development Center is accepting applications for its $100 million, five-year program that is stimulating new collaboration between the United States' and India's public and private sectors in solar energy, energy-efficient buildings, and advanced biofuels.

• The India-US agriculture dialogue was launched in September 2010 to intensify collaboration with India on food security, including joint work with third countries. USTDA hosted a trade mission to the United States for business and government representatives from India in the cold storage field.

• The National Oceanic and Atmospheric Administration and the Ministry of Earth Sciences have set up a "monsoon desk" to share the latest monsoon prediction models, which are now providing forecasts for the 2011 Indian monsoon season.

Women's Empowerment

• The Women's Empowerment Dialogue is planned for September 2011 in New Delhi.

Education, Innovation, Science and Technology

• The United States and India plan to host a Higher Education Summit in Washington DC on October 13 to highlight and emphasize the many avenues through which the higher education communities in the United States and India collaborate.

• The United States and India plan to expand its higher education dialogue, to be co-chaired by the US Secretary of State and Indian Minister of Human Resource Development to convene annually, incorporating the private/non-governmental sectors and higher education communities to inform government-to-government discussions.

• As part of the Obama-Singh 21st Century Knowledge Initiative (OSI), the two governments announced the publication of their requests for proposals from post-secondary educational institutions that support OSI's goals of strengthening teaching, research, and administration of both US and Indian institutions through university linkages and junior faculty development.

• The United States created the Passport to India initiative to encourage an increase in the number of American students studying and interning in India. The leaders recognized the great bridge of mutual understanding resulting from the more than 100,000 Indian students studying and interning in the United States.

• The United States' Department of Energy and India's Department of Atomic Energy signed an Implementing Agreement on Discovery Science that provide provides the framework for cooperation in accelerator and particle detector research and development at Fermi National Accelerator Laboratory, Thomas Jefferson National Accelerator Facility, and Brookhaven National Laboratory.

• The India-US S&T Endowment Board, established by Secretary Clinton and Minister Krishna in 2009, plans to award nearly $3 million annually to entrepreneurial projects that commercialize technologies to improve health and empower citizens. The two sides are strongly encouraged by the response to this initiative, which attracted over 380 joint India-US proposals. The Endowment plans to announce the first set of grantees by September 2011.

• The India-US S&T Forum, now in its tenth year, has convened activities that have led to the interaction of nearly 10,000 Indian and US scientists and technologists.

• As a follow up to the successful India-US Innovation Roundtable held in September 2010 in New Delhi, the two sides agreed to hold another Innovation Roundtable in early 2012.

• India and the United States plan to host their third annual Women in Science workshop in September 2011.

Space

• The US – India Joint Space Working Group on Civil Space Cooperation met in July 2011 in Bangalore. Building on the successful Chandrayan-1 lunar mission, NASA and ISRO reviewed potential areas for future cooperation in earth observation, space exploration, space sciences and satellite navigation. Both sides agreed for early finalization three new implementing arrangements for sharing satellite data on oceans and global weather patterns. Recognising the research opportunities available on the International Space Station, both sides agreed to explore the possibilities of joint experiments. NASA reiterated its willingness to discuss potential cooperation with ISRO on human spaceflight activities. The two sides also agreed to expand upon previous work in the area of global navigation satellite systems (GNSS) with the goal of promoting compatibility and interoperability between the US Global Positioning System, India's Navigation systems, and those of other countries.

Secretary Clinton thanked the Minister, the Government, and the people of India for their gracious hospitality, their warm welcome, and their hard work in making this year's Strategic Dialogue a

success. Secretary Clinton thanked Minister Krishna for his strong support for the India-US relationship.

Minister Krishna thanked the Secretary for her participation and engagement in this year's Strategic Dialogue and for the commitment and dedication she has given to the US – India global partnership. The next meeting of the Strategic Dialogue is planned for Washington DC in 2012.


Calendar of IACC Events for 2011-12 (as on 1 August 2011)

Date Topic City

5 August 2011 Seminar on “Leveraging IP-Challenges!” TEA Conference Hall, Tirupur

6 August 2011 Seminar on “Leveraging IP-Challenges!” SIEMA Conference Hall, Coimbatore

10 August 2011 Discussion on Five Elements Chennai

13 August 2011 Seminar on “IP Challenges - Focus IT” Chennai

18 August 2011 CSR Program Chennai

18 August 2011 Workshop for SME's on 'How to Create an Effective Business Plan'

Bangalore

20 August 2011 Guidance Session on U.S Visa Pondicherry

24 August 2011 Fellowship Night Oberoi Maidens Hotel, New Delhi

26 August 2011 Seminar on “ESO – Challenges and Strategies for Success”

Chennai

30 August 2011 Breakfast Meeting Chennai

28 Sep 2011 42nd Annual General Meeting of IACC The Taj Palace & Tower, Mumbai

29-30 Sep 2011 Nuclear Expo and Summit Bombay Exhibition Centre, Mumbai

1-3 Dec 2011 International Taxation Conference 2011 ITC Maratha Hotel, Mumbai


US Department of Commerce Certified Trade Shows in USA

Event Name Date and Location Contact Details

AUVSI Unmanned Vehicle Systems International 2011 (Aviation Services)

8/16/2011 - 8/19/2011 Washington, DC, United States

Carol Rudman 202-482-0905 Melanie Hinton 571 255 7786

Graph Expo 2011 (Computers/Peripherals)

9/11/2011 - 9/14/2011 Chicago, IL, United States

James Yi 2024826482

RETECH (Renewable Energy Technology Conference & Exhibition) 2011 (Renewable Energy Eq.)


Mark Wells (202) 482-0904 Hunter Jones (713) 343-1875

Natural Products Expo East 2011 (Foods - Processed)

9/21/2011 - 9/24/2011 Baltimore, MD, United States

Shelby Peterson 202-482-5531 Erica Stone 303-998-9408

PACK EXPO Las Vegas 2011 (Packaging Eq.)

9/26/2011 - 9/28/2011 Las Vegas, NV, United States

Vidya Desai 202-482-2311 Ryan Oklewicz 703-243-8555

High Point Market - Fall 2011 (Furniture)

10/22/2011 - 10/27/2011 High Point, NC, United States

Philippa Olsen 202-482-5449 Brian Casey 336-869-1000

National Funeral Directors Association International Convention and Expo (General Services)


James Yi 2024826482 Corey Eggers 262-789-1880

IFAI-Industrial Fabrics Association International (IFAI Expo Americas 2011) (Textile Fabrics)

10/25/2011 - 10/27/2011 Baltimore, MD, United States

Amanda Ayvaz 202-482-0338 Todd Lindemann 651-225-6918

Louisiana Gulf Coast Oil Exposition (LAGCOE) 2011 (Oil/Gas Field Machinery)

10/25/2011 - 10/27/2011 Lafayette, LA, United States

Mark Wells (202) 482-0904

Sally Ware (337) 235-4055

American Film Market 2011 (Films/Videos)


Micaela Brown 2024820578 Wendy Meinel 310-446-1088

Greater New York Dental Meeting (Dental Eq.)

11/25/2011 - 11/30/2011 New York, NY, United States

Blanche Ziv 202-482-4207 Robert Edwab,Dr. 212-398-6922

POWER-GEN International 2011 (Architectural/Constr./Engineering SVC)


Blanche Ziv 202-482-4207 Kendra McColloch 918-831-9859

2012 International CES (Audio/Visual Eq.)


Vidya Desai 202-482-2311 John Kelley 703-907-4309

World of Concrete 2012 (Architectural/Constr./Engineering SVC)


Graylin Presbury 202-482-5158 Jackie James 972-536-6379

International Builders' Show 2012 (Architectural/Constr./Engineering SVC)

2/8/2012 - 2/11/2012 Orlando, FL, United States

James Yi 2024826482

Graphics of the Americas (GOA) 2012 (Printing/Graphic Arts Eq.)

3/1/2012 - 3/3/2012 Miami, FL, United States

Blanche Ziv 202-482-4207

Natural Products Expo West/SupplyExpo (Agricultural Products)

3/8/2012 - 3/11/2012 Anaheim, CA, United States

Shelby Peterson 202-482-5531 Adam Anderson (303) 998-9091

International Home and Housewares Show 2012 (Consumer Electronics)

3/11/20123/11/2012 - 3/13/20123/13/2012 Chicago, IL, United States

Amanda Ayvaz 202-482-0338 Derek Miller

Nightclub & Bar Convention and Trade Show 2012 (Apparel)


Micaela Brown 2024820578

NPE 2012 International Plastics Showcase (Plastics Production Machinery)

4/1/2012 - 4/5/2012 Orlando, FL, United States

James Yi 2024826482

The 2012 National Association of Broadcasters (NAB) Show (Audio/Visual Eq.)


Shelby Peterson 202-482-5531 Margaret Cassilly

(202) 429-3189 AMI International Meat, Poultry & Seafood Industry Convention and Exposition 2012 (Agricultural Chemicals)

4/30/2012 - 5/3/2012 Dallas, TX, United States

Micaela Brown 2024820578

Waste Expo 2012 (Environmental Technologies)


Amanda Ayvaz 202-482-0338 Kimberly Stolfi

International CTIA WIRELESS® 2012 Convention (Information Services)

5/8/2012 - 5/10/2012 New Orleans, LA, United States


The National Restaurant Association Restaurant, Hotel-Motel Show (NRA Show) 2012 (Air Conditioning/Refrigeration Eq.)



InfoComm International 2012 (Computer Software)


Shelby Peterson 202-482-5531 Jason McGraw (703) 279-6361

HBA Global Expo (Cosmetics/Toiletries)

6/28/2012 - 6/30/2012 New York, NY, United States

Amanda Ayvaz 202-482-0338 Jill Birkett


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) reserves right to edit the said articles for clarity and space and use them in all electronic and print form. E-mail: [email protected]; [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: R.K. Chopra, Secretary General, IACC; E-mail: [email protected] S. Sudhanva, Executive Director, IACC; E-mail: [email protected]





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