Statutory AGM

Ms. Ranjana Khanna, Director General CEO, AMCHAM India welcomed members and presented the Annual Report for 2023-24. She gave the highlights of the 209 interactions organized pan India across sectors and meetings with 49 Government of India officials, 22 state government officials, 33 U.S. Mission officials and 38 U.S. government officials that visited India. AMCHAM curated and released 12 publications and made 19 representations to the government on various ease of doing business challenges. She mentioned the launch of AMCHAM’s Environment & Sustainability Committee that will focus on the circular economy, climate change and net zero emissions target, waste management and digitization as a catalyst for sustainability. She highlighted various state level initiatives to enhance member engagement and address concerns. Thanks were conveyed to the members of the National Executive Board. Mr. Sanjay Bhutani, Honorary Secretary & Treasurer, AMCHAM India presented the financials and audited accounts for FY 2023-24. Appointment of M/s. Walker Chandiok Co. LLP, as the statutory and tax auditors of the American Chamber of Commerce in India for the financial year 2024-2025, as per resolution by the National Executive Board in its meeting held on Thursday, January 11th, 2024 was ratified by members. The composition of the National Executive Board 2024-25 was announced by Ms. Ranjana Khanna. Mr. C.R. Dua, National Executive Board Member, AMCHAM India advised the board to be present in person for at least two board meetings a year. Over a hundred members were present at the statutory AGM.

Inaugural Session

The 32nd Annual General Meeting of AMCHAM India was held on August 8th in New Delhi themed ‘Towards the World’s Third Largest Economy: U.S.-India Partnership.’ The inaugural session began with a welcome from Ms. Ranjana Khanna, Director General CEO, AMCHAM to all those present and to the Honorary President of AMCHAM, Ambassador Eric Garcetti, U.S. Embassy. Ms. Khanna highlighted joint efforts in innovation, supply chain enhancement, and sustainable practices, along with cooperation in digital trade, intellectual property, and regulation, that were advancing the bilateral partnership. Bilateral coordination through multilateral institutions like iCET, 2+2 Ministerial Dialogue, and the Quad were also noted. Mr. Som Satsangi, Chairman, AMCHAM and SVP and Managing Director, India, Hewlett Packard Enterprise spoke highly of the commitment and friendship shared between both countries. He shared about innovation and collaboration that creates more opportunities for all in India and the U.S.

In the keynote address, Ambassador Garcetti shared his vision on the strategic U.S.-India partnership, growing economic ties, collaboration and resilience in the bilateral relationship. With dynamic bilateral trade, there are opportunities to leverage technology and innovation which are vital in advancing the U.S-India partnership. AMCHAM released an e-book Partners in Progress: U.S. Industry in India showcasing 58 member organizations that continue to embrace opportunities contributing to India’s growth story. U.S. industry recognize that access to quality education helps to break the cycle of generational poverty, contributes to business growth and builds strong economies. From CSR initiatives to R&D to women’s empowerment to rural healthcare, members are partners in progress. In closing, Mr. Salil Gupte, Vice Chairman, AMCHAM and President, Boeing India & South Asia, lauded the shared values and deep belief in the power of democracy that both countries share. He thanked the Ambassador and U.S. industry representatives present for the many ways they inspire and achieve goals in the U.S.-India partnership as it moves from strength to strength.

Session I: Towards $5 Trillion Economy by 2030

Mr. Rajesh Agrawal, Additional Secretary, Ministry of Commerce & Industry, Government of India, in his special address, emphasized the importance and value of the partnership between India and the U.S. particularly from a trade and commerce perspective, highlighting the connections made between people and trade. Trade between India and the U.S. reached $191 billion in 2023, marking the highest level to date. Mr. Agrawal further discussed U.S. investments in India, which currently account for 10% of total investments and shared about multiple channels the government of India has set up to address regulatory and policy challenges. Mr. Salil Gupte, Vice Chairman, AMCHAM and President, Boeing India & South Asia moderated the panel discussion with Mr. Som Satsangi, Chairman, AMCHAM and SVP and Managing Director, India, Hewlett Packard Enterprise, Ms. Kaku Nakhate, National Executive Board Member, AMCHAM, Chairperson – D&I Committee, AMCHAM and President and Country Head (India), Bank of America N.A. The discussion provided an overview of India’s rise in economic growth over the decades and revolved around India’s great economic potential, skilling at all levels of society, industry and academia collaboration and how to unlock the potential of India’s manpower. Optimism on India remains based on several factors: demographic dividend, talent, low cost of borrowing, public spending, potential of commitment and accelerated growth. PLI schemes have also been conducive to bringing in critical and emerging technologies to India.

Session II: India: Key Destination for U.S. Investments

Mr. Balamurugan D., IAS Joint Secretary, Department for Promotion of Industry & Internal Trade, Ministry of Commerce & Industry, Government of India delivered a special address in which he shared ways for enhancing the U.S.-India economic partnership highlighting promising areas where the two nations can work together like GCCs, enabling provision of skilled manpower and promotion of the strong start-up ecosystem that exists in India. His address was followed by a panel discussion with Mr. Chandrakant Nayak, Chairman – Western Region, AMCHAM and Country President and CEO, Dow Chemical International Pvt. Ltd. (Dow India), Mr. Chaitanya Sarawate, National Executive Board Member, AMCHAM, Chairman – Medical Devices Committee, AMCHAM and President & CEO, GE HealthCare South Asia, Managing Director, Wipro GE Healthcare and Mr. Sundaresan Narayanan, Managing Director of HVAC, India Region, Chairman of Board, Carrier in India and Carrier Global Corporation, which was moderated by Mr. Vivek Sonny Abraham, Senior Director, External Strategy – India & South Asia, Salesforce. The panel discussed the scope for expansion of FDI in India, ease of doing business and policy reforms as well as avenues towards bridging gaps to achieve India’s vision of being a key player in the global supply chain. The session explored how U.S. industry is introducing cutting edge technology across sectors in India, accelerating Make in India for global markets and strengthening of logistics towards containing costs.

Session III: Technology Transformation: Towards $1 Trillion Digital Economy

Mr. S. Krishnan, Secretary, Ministry of Electronics & Information Technology, Government of India delivered a special address which underlined how both the hardware and software part of technology are converging and presenting challenges as horizontal technologies. He mentioned the need to address how technology can bind together various sectors and build to a $1 trillion economy. He talked about engaging various levels of talent, creating awareness among graduates and the need to constantly skill/up-skill. Mr. Sandip Patel, National Executive Board Member, AMCHAM and Managing Director, IBM India & South Asia moderated the industry panel with Mr. Som Satsangi, Chairman, AMCHAM, and SVP & Managing Director, India, Hewlett Packard Enterprise and Mr. Ajay Vij, Country Managing Director, Accenture in India. The panel explored AI’s role in fostering innovation, enhancing efficiency, and generating new economic opportunities within the context of the U.S.-India partnership. The conversation also touched on the challenges and speculations surrounding AI as India progresses toward its $1 trillion digital economy target and strategic recommendations for the tech sector, skilling of the digital economy, emerging technologies, etc.

Session IV: Smart and Sustainable Infrastructure for Faster Economic Growth

The session had an excellent discourse on the role of smart and sustainable urban infrastructure in the economy’s growth dynamics. The discussion emphasized the need for an integrated supply chain to ensure faster economic growth of the economy. Four aspects of sustainability found to be integral to smart cities encompassed economic, technological, social and environmental factors. Ms. D. Thara, Additional Secretary, Ministry of Housing and Urban Affairs, Government of India delivered a special address in which she mentioned ‘Amrut Mission 2.0’ as one of the important and ongoing initiatives of the Government of India for developing urban infrastructure. Ms. Thara requested AMCHAM to get involved in capacity-building initiatives of the government. She invited participation of American companies in some of the key initiatives like demonstration projects, start-up projects, drink-from-tap projects, and ‘Black to Blue’ wastewater treatment projects, etc. The panel speakers included Ms. Mehnaz Ansari, Sr. Regional Representative – South Asia Indo Pacific Region, U.S. Trade and Development Agency (USTDA), Ms. Garima Rathore Director, Public Policy & Government Affairs, Microsoft and Mr. Rajan Aiyer, Vice President & Managing Director, Trimble India and SAARC. The session was moderated by Mr. Ankur Malhotra Director, Government Relations, Honeywell India.

Session V: Energy Landscape in India: Towards Decarbonization and Net Zero Target – CCUS

Dr. Vijay Kumar Saraswat, Member, NITI Aayog, Government of India delivered a special address which touched upon various issues about the decarbonization and net zero target of the Government of India. He mentioned that historically, average carbon emissions by India have been much lower than the same from developed countries around the world. He opined that abatement of carbon emission should be regarded as a ‘requirement’ rather ‘liability’ by the emitting companies to achieve the ‘decarbonization and net zero target’ of the country. The industry panel of speakers included Mr. Anil Bhatia, Chairman – Energy Committee, AMCHAM and Vice President & Managing Director – India, Emerson and Mr. Ashish Modi, President, Honeywell India. Mr. Atanu Mukherjee, Chairman – Eastern Region, AMCHAM and CEO Dastur Energy Inc. and M. N. Dastur & Co (P) Ltd. moderated the session.

AMCHAM’s 32^nd AGM was made possible through the generous support of the following partners: (platinum partner) Salesforce, (gold partners) Boeing, Honeywell and Micron (silver partner) Emerson, (bronze partner) S&P Global, (special partners) IBM and Lockheed Martin, (supporting partners) Bausch & Lomb and GE Healthcare and (gifting partners) Brand USA, Coca-Cola, Kellanova, Mondelez India and Trimble.