Message from the President:
“United we stand, divided we fall. The opportunity between the United States and India is immense, but we need to get together and work in unity to take it to new heights.” – Matt Bevin, Governor of Kentucky
Inspiring remarks by Kentucky Governor Matt Bevin at the 2019 Vibrant Gujarat Summit demonstrate the potential to grow the U.S.-India relationship through deeper connections at the city and state level. Last week, a USIBC delegation led by Governor Bevin traveled to Gujarat and New Delhi for a suite of engagements focused on creating new avenues for investment. These high-impact meetings included:
- Meetings with Prime Minister Narendra Modi; Chief Minister of Gujarat Vijay Rupani; Minister of Commerce Suresh Prabhu; Minister of Railways and Acting Finance Minister Piyush Goyal; DIPP Secretary Ramesh Abhishek; Commerce Secretary Anup Wadhawan; Chief Minister of HaryanaManoharlal Khattar; RBI Governor Shaktikanta Das; CEO of National Health Authority Indu Bhushan; U.S. Ambassador to India Kenneth Juster, and other officials from the Government of India and U.S. government.
- The USIBC delegation – the highest-ranking delegation from the United States – was hosted by major Indian company executives to discuss B2B opportunities. The group met Adani Group Founder and Chairman Gautam Adani, Suzlon Chairman Tulsi Tanti, and Cadila Healthcare Chairman and Managing Director Pankaj Patel.
- USIBC also hosted the Vibrant Gujarat U.S. Country Seminar, which featured remarks from Governor Bevin, Gujarat Deputy Chief Minister Nitinbhai Patel, and delegation members from Uber, Lockheed Martin, KPMG, Kentucky Chamber of Commerce and Covington & Burling. The seminar was standing room only and received extensive press coverage. USIBC delegation member Sandy Frucher, Vice Chairman of NASDAQ, also spoke at the Vibrant Gujarat business session on connectivity between global exchanges.
- USIBC launched a joint report with KPMG – The U.S.-India Partnership: Road to Prosperity. The report outlined key priority areas in which U.S. and India can work together to increase bilateral trade and commerce. This report is the outcome of a meeting with Prime Minister Modi and the USIBC Executive Delegation in September 2018. (Read the report here.)
- USIBC signed an MOU with the Government of Maharashtra to promote Maharashtra as an investment destination for U.S. business and support efforts to grow the state’s economy to $1 trillion by 2025. Signing ceremony participants included Chief Minister of Maharashtra Devendra Fadnavis;Minister for Industries Subhash Desai; and CEO of Maharashtra Industrial Development CorporationAnnasaheb Misal.
- USIBC’s Twitter account generated impressions across 42,000 timelines, promoting issues across our advocacy agenda, touting the importance of Gujarat and other Indian states as investment destinations for U.S. companies, and the potential for Indian companies to invest in the United States.
- USIBC published 51 live tweets during Vibrant Gujarat, with 113 links and shareable content.
- Over 3 days, USIBC received coverage in 40 top-tier and regional media publications, highlighting our members’ concerns and priorities. A few of our media mentions can be found here: Times of India, The Pioneer,Business Standard.
ADVOCACY & EVENTS
All Eyes on India’s General Elections
New Delhi is focused on general elections, with recent polls suggesting that neither the NDA nor the UPA will win a clear majority. Election forecasts project the BJP will emerge as the party with the largest number of seats. However, a formidable alliance between regional parties Bahujan Samaj Party and Samajwadi Party may cause an upset for the BJP in Uttar Pradesh. USIBC expects the upcoming interim Union budget will include allocations designed by the Modi government to ease rural distress and provide concessions for small businesses, the middle class and farmers.
Call for Comments Ahead of the U.S.-India CEO Forum
USIBC will submit comments for the upcoming U.S.-India Commercial Dialogue, scheduled to take place in New Delhi on February 14. All inputs will be reviewed for inclusion in USIBC’s submission to the U.S. Department of Commerce. Please provide comments to USIBC Vice President Amy Hariani (AHariani@usibc.com) no later than Thursday, January 31.
USIBC Delegation to the Bengal Global Business Summit
On February 6-7, USIBC will take a delegation to Kolkata and the Bengal Global Business Summit. The delegation will be helmed by leaders from the USIBC India Advisory Council and feature a strong contingent from North Carolina. Delegates include North Carolina Secretary of State Elaine Marshall and Mayor TJ Cawley, as well as university, chamber of commerce and industry representatives from the state. This is an excellent opportunity to engage with some of the heavyweights in West Bengal politics and industry who are likely to emerge as key players in national politics. For more information, please write to Sandip Sammadar.
USIBC Capital Markets Delegation
USIBC will lead a delegation of senior capital market executives to Mumbai and New Delhi on February 4-5 to discuss capital markets in the region and explore how they can further deepen their investment in India. HSBC India Chief Executive Officer Surendra Rosha will lead the delegation, which includes executives from leading financial sector firms based in the U.S., Singapore and India. The delegation will meet with officials from the Ministry of Finance, RBI, DIPP and SEBI, among others. For more information, please write to Rohan Sirkar.
AeroIndia & Defense Procurement
USIBC will take a delegation to India’s 12th international show on aerospace, defense, civil aviation, airport infrastructure and defense engineering. The council has organized missions to this event for over a decade. This year’s event will feature more than 360 exhibitors and 62 aircraft on display. Lockheed Martin Aeronautics Service Vice President Vivek Lall will lead the delegation, with incoming USIBC Defense and Aerospace Committee Head Rich Weir of Northrop Grumman in attendance. As part of our mission, members will receive VIP access to events, meet senior U.S. and Indian government officials, participate in B2B networking events, attend seminars focused on opportunities and challenges associated with doing business in India’s aerospace and defense sector. For more information, please write to Ben Schwartz.