MUMBAI | WEDNESDAY, 11 DECEMBER 2013 5 . < Post-event report Commercial Feature Innovation is the key to restructuring Indo-US bilateral ties “THERE CAN be no Indo-US Resurgence without just trade that connects the the US. and services and the need Aviation, Mr.Dhiraj Mathur, Indo-US convergence.Convergence of ideas, people and countries.For Leading the “Building to engage in cooperative ED, Pricewaterhouse- mutual respect and mutual benefit.”said Mr.Kapil leapfrogging into the next the Aerospace & Security dialogues that will eliminate Coopers, Dr.Lalit Sibal, Union Minister for Communications & IT and phase of partnership, the Eco system in India” regulatory and economic Mansingh, Former Indian Law & Justice, to a captive audience at the two countries have to go session was Dr.Vivek Lall, hurdles relating to trade Ambassador to US, Mr. inaugural session of the IACC’s Indo-US beyond industrial revolution Summit Mentor and policy,FDIs, visas, etc.U.S. Som Mittal, President Resurgence Summit held in New Delhi on (partnership) and embrace President & CEO, New is currently India’s largest NASSCOM, Mr.Ronen December 2, 2013 at Hyatt Regency.He called for digital revolution that is Venture, Reliance investment partner with Sen, Former Ambassador greater investment overall and increased US focus making sweeping changes Industries Ltd.who said India gaining speed as a to US, Mr.George Sibley, Dr Lalit Bhasin Mr. Chella K Srinivasan Mr. Asoke K Laha Mr. Raman Roy in India’s manufacturing sector for a meaningful in India.The Government is “The US needs to regard growing source of FDIs in Minister Counselor for Chairman, Organizing National President, IACC Executive Vice President, Summit Chairman bilateral partnership. investing Rs.20,000 crores the defence industrial the US.India’s role is Economic, Environment, Committee IACC Dr.Lalit Bhasin, Chairman, Organizing for laying fibre optics in the capability gap between quickly shifting from‘a Science andTechnology Committee & Regional President, IACC said that country to create a type of itself and Indian as an opportunity for market for US goods and Affairs, US Embassy,Mr.Bhuvan Lall, Chairman “Innovation”wasTHE solution towards digital infrastructure that can bring about collaboration”.Aviation and Aerospace represents services’to a‘strategic partner’, but much is yet to and Founder, Lall Brothers Media & Entertainment restructuring the very significant Indo- US bilateral qualitative changes in communication landscape a significant segment of bilateral trade between be explored to further enhance this bilateral Investment Group, Ms.LoveleenTandan,Co- ties, which is why such a pertinent Summit theme of India”.The Minister also urged US to develop a India and the US.There is a scope for further relationship. Director, Slumdog Millionaire.Dr.Prasad Medury, of discovering innovative strategies in various pragmatic approach with expanding this relationship Considering the estimated growth of the Media Partner, Amrop India Consultants Pvt.Ltd.led the sectors to cause the much needed resurgence in regard to the visa regulations by exploiting the offset and Entertainment Industry in India to INR 1.66 session on “Resurrecting Indo-US Services and our existing engagement.He added that the three adversely affecting Indian The Summit hosted liabilities between the two trillion by 2017, need for digitization and threat of Trade:An Innovative Approach”, Mr.Raman Roy, terms Convergence, Connectivity and Change professionals in the IT sector over 200 delegates nations and catalyzing much piracy were the hot topics at the Summit. Summit Chairman and CMD, Quatrro Global were integral in shaping the future contours of this and to create a conducive needed investment, Substantial strides can be made in this sector by Services Pvt.Ltd.led the panel on “Indo-US crucial bilateral partnership. environment for easier representing technology transfer and enhancing technology transfer and driving creative Relations:The Unfinished Agenda”and Mr. This year’s theme “A Search for Innovative movement of professionals organizations from increased participation from collaboration between the two countries. Sandeep Marwah, President, Asian Academy of Strategies”, crafted to propel the Indo-US between the two countries. India and the US, SMEs.With India slated to During the inaugural, Hon’ble Minister Sibal Film &Television led “Media and Entertainment” partnership conversation in a new direction, paid “Success of democracies including top purchase USD 100 billion released a white paper written by Kochhar & Co., a session at the Summit. close attention to current geopolitical and across the world will depend worth of military equipment leading law firm of the country. This paper The Summit hosted over 200 delegates economic directions of the two countries.Mr.Sibal on the success of democracy diplomats and by 2022 and USD 9.7 billion elucidates the Indian Financial Services Sector, representing organizations from India and the US, in his inaugural speech called for a shift in US-India in India.You (the US) have a officials from spend in Homeland Security discussesTransfer Pricing Disputes and Initiatives, including top diplomats and officials from relationship paradigm urging US to focus more on great stake in India Government by 2016, it is likely to become and the regulatory and trade environment for each government and focused on areas of bilateral trade investments rather than trade to support India’s (democracy)”, said Sibal. an attractive destination for of the sectors covered at the Summit. and investment, knowledge and technology strategy of inclusive growth.“For a sustained Mr.Chella K Srinivasan, the security sector in terms of Among the panelists and thought leaders that transfer, public private partnerships, and joint dynamism in Indo-US partnership and to take the IACC’s National President, talked about the huge both manufacturing and R&D. participated in the Summit were Mr.John partnerships in aviation, aerospace, security, contours of partnership to the next level, it is potentials that can be tapped in the various sectors Keeping the facts and figures in order, McCaslin, Minister Counselor for Commercial trade, media and entertainment sectors.“Our important that the US investments come in discussed in the day-long Summit.Mr.Asoke K “Resurrecting Indo-US Services andTrade:An Affairs, US Embassy,Mr.Pratyush Kumar, Resurgence Summit was aimed at providing more agriculture, education, manufacturing, SME Laha, IACC’s National ExecutiveVice President Innovative Approach”and “Indo-US Relations:The President, Boeing India, Mr.Nikhil Khanna, depth to commercial ties between the world’s sectors in tier one and two cities, which can jack up brought to the fore the necessity of significant Unfinished Agenda”sessions raised pertinent Country Director – India, Global Business most powerful and the world’s largest the buying capacity of the Indians.”said the involvement of the small and medium sectors and discussions on the incredible potential for jump- Development, Raytheon International Inc., Mr. democracies”, said Dr.Lalit Bhasin, IACC’s Minister.He was further quoted saying, “It is not potential therein for cooperation between India and starting investments and bilateral trade in goods Nalin Jain, President and CEO, South Asia, GE Regional President. INAUGURAL SESSION Dr Lalit Bhasin presenting memento to the Hon’ble Minister, Mr. Asoke K Laha, Executive Vice President, IACC proposing Mr. Kapil Sibal Vote of Thanks Mr. Kapil Sibal, Hon’ble Minister for Communications & Information Dr Lalit Bhasin delivering Introductory Address Mr. Chella K Srinivasan delivering Welcome Address Technology and Law & Justice, GOI addressing the Summit SESSION ON BUILDING THE AEROSPACE & SECURITY ECO SYSTEM IN INDIA L to R Mr. S L Deshmukh, Vice President (Technology & Industrialization), Aerospace & Defence, SUN Group; Mr. Amber Dubey, Partner and Head-Aerospace and Defense, L to R – Mr. Asoke K Laha, Mr. Raman Roy, Mr. John Mr. Kapil Sibal releasing the study done by Knowledge KPMG; Mr. Nalin Jain, President and CEO, South Asia, GE Transportation, GE Aviation; Mr McCaslin, Dr Lalit Bhasin, Mr. Kapil Sibal, Mr. Chella K Partner – Kochhar & Co Nikhil Khanna, Country Director – India, Global Business Development, Raytheon Srinivasan, Dr Raghupati Singhania, Chairman & LtoR–DrLalit Bhasin; Mr. Rohit Kochhar, Chairman & International Inc.; Dr Vivek Lall; Mr Pratyush Kumar, President, Boeing India; Mr. Ajay Kumar, Managing Director, JK Tyre & Industries Ltd, Dr Vivek Lall Managing Partner, Kochhar & Co; Mr. Kapil Sibal and Mr. Program Director, U.S. India Aviation Cooperation Program; Mr. Dhiraj Mathur, Executive Mr. John McCaslin, Minister Counselor for Commercial and Mr Pratyush Kumar, President, Boeing India Chella K Srinivasan Dr Vivek Lall, Summit Mentor, Chairman, Aerospace and Defence Committee, IACC, Director, PricewaterhouseCoopers and Mr. Piyush Gupta, Partner, Kochhar & Co Affairs, US Embassy addressing the participants NIC and President & CEO, New Venture, Reliance Industries Limited chairing the Session SESSION ON RESURRECTING INDO- US SERVICES AND TRADE: AN SESSION ON INDO-US RELATIONS: THE UNFINISHED AGENDA SESSION ON MEDIA & ENTERTAINMENT: INNOVATIVE APPROACH DIGITIZATION IN THE MEDIA AND ENTERTAINMENT INDUSTRY AND THE MENACE OF PIRACY MrGeorgeNSibley, MinisterCounselor L to R Mr. Ashok Tyagi, Film forEconomic, Director; Mr. Stephen Mathias, Environment,Science Partner, Kochhar & Co; Ms andTechnology Loveleen Tandan,