Review of the Union Budget 2022-23 by the Tax, Tariff and Regulatory Affairs Committee

AMCHAM’s Tax, Tariff and Regulatory Affairs Committee organized a detailed review of the Union Budget 2022-23 for members on February 4th. Mr. Amitabh Kumar, Program Director, AMCHAM welcomed participants and gave a brief context on the vision and focus areas in the budget of capital expenditure, clean energy and technology enabled development, to create a physical and digitally networked green economy over the next 25 years. Ms. Neeru Ahuja, Chairperson – Tax, Tariff & Regulatory Affairs Committee, AMCHAM and Partner, Global Business Tax, Deloitte India, explained the macroeconomic announcements in the budget, while Mr. Sumeet Hemkar, Partner, Global Business Tax, Deloitte India reviewed the key direct tax proposals. Ms. Anshul Aggarwal, Partner, Indirect Tax, KPMG in India covered the key indirect tax proposals in the budget, followed by Q&A with participants. The AMCHAM presentation on Union Budget 2022-23 used in the webinar can be viewed HERE.

Membership

By joining AMCHAM India, you become part of an active and dynamic Apex Chamber of U.S. Industry in India with a membership base of more than 400 American companies in India. AMCHAM is an important voice for policy advocacy, a critical source for business intelligence, a vibrant platform for networking and expanding your business.

Anti-Corruption & FCPA Compliance Committee Meeting

On February 3rd, the Anti-Corruption & FCPA Compliance Core Committee organized the first meeting for the year 2022. Ms. Komple Sharma, Manager, AMCHAM, welcomed participants. Mr. Gaurav Ajmani, Chairman – Anti-Corruption & FCPA Compliance Committee, AMCHAM and Associate General Counsel: Business Conduct & Ethics, Amazon Seller Services and Ms. Bhawna A. Ranganadhan, Co-Chairperson – Anti-Corruption & FCPA Compliance Committee, AMCHAM and Vice President, Legal and Compliance, Genpact, led the discussion on the key takeaways from 2021 and emerging compliance trends, opportunities and challenges. The committee analyzed and discussed the falling trend of FCPA enforcement actions, total corporate sanctions annually, USG investigations initiated per year and latest report on corruption perception index. The committee also prepared the agenda for 2022 which included topics like transaction testing, envisaging compliance policies and driving culture, managing audit teams, whistleblowing mechanism and investigations. The meeting concluded with closing remarks from AMCHAM thanking members for their valuable inputs.

Membership

By joining AMCHAM India, you become part of an active and dynamic Apex Chamber of U.S. Industry in India with a membership base of more than 400 American companies in India. AMCHAM is an important voice for policy advocacy, a critical source for business intelligence, a vibrant platform for networking and expanding your business.

Hyderabad Chapter Session on Decoding the Union Budget with EY

AMCHAM’s Hyderabad Chapter had a session on ‘Decoding the Union Budget with EY’ on February 2nd over Webex. Mr. Prakash Bodla, Chairman – Hyderabad Chapter, AMCHAM made remarks at the session. Mr. Naveen Agarwal, Partner, EY spoke on the budget and direct taxes while Ms. Aisha Ali Hussaini, Partner, EY spoke on the indirect taxes. They touched on individual tax proposals and COVID-19 relief measures. The session also covered discussion on measures to stimulate growth and revenue mobilization, ease of compliance and reducing litigation, rationalization measures, the digital economy, GST and SEZ proposals, among other topics.

Membership

By joining AMCHAM India, you become part of an active and dynamic Apex Chamber of U.S. Industry in India with a membership base of more than 400 American companies in India. AMCHAM is an important voice for policy advocacy, a critical source for business intelligence, a vibrant platform for networking and expanding your business.

CSR Committee’s Whole Genome Sequencing Subgroup Meeting

On February 2nd, AMCHAM’s CSR Committee’s subgroup on whole genome sequencing met for the first time under the leadership of Mr. Harish Krishnan, Chairman – CSR Committee, AMCHAM and Managing Director, Public Affairs & Strategic Engagements, Cisco India & SAARC, Cisco Systems (India) and Mr. Ankur Malhotra, Co-Chairman – CSR Committee, AMCHAM and Head, Corporate Affairs & CSR, Hewlett Packard Enterprise India. On behalf of USAID’s partners in COVID-19 initiatives, Mr. Krishna Deepak, Project Leader, BCG, gave an overview and presentation on whole genome sequencing and opportunities identified by state governments. There was a Q&A portion of the session that covered the application of genome sequencing beyond COVID-19, possibilities and challenges with private sector involvement, data analytics, infrastructure funding, long term beneficiaries, training and awareness, among other topics. Interested members from AMCHAM’s COVID-19 Disaster Management Task Force attended the session as well.

Membership

By joining AMCHAM India, you become part of an active and dynamic Apex Chamber of U.S. Industry in India with a membership base of more than 400 American companies in India. AMCHAM is an important voice for policy advocacy, a critical source for business intelligence, a vibrant platform for networking and expanding your business.

Eastern Region Session on Decoding of the Union Budget 2022-23

AMCHAM’s Eastern Region organized a virtual interactive session on the Union Budget 2022-23 on February 2nd. Ms. Amada Kidwai, Regional Director – Eastern Region, AMCHAM welcomed members and introduced the speakers. Mr. Gulshan Sachdev, Chairman – Eastern Region, AMCHAM and Managing Director, Quaker Chemical, gave the inaugural remarks and Mr. Joydeep Datta Gupta, Vice Chairman – Eastern Region, AMCHAM and Partner, Deloitte Touché Tohmatsu India LLP, gave the concluding remarks. The panellists were Professor (Dr.) Suman Mukherjee, economist, consultant and global speaker, Mr. Kaushik Mukerjee, Regional Managing Partner – East, Price Waterhouse Co. LLP, Mr. Gopal Agarwal, Tax Partner, Price Waterhouse Co. LLP and Mr. Kapil Basu, Director, Tax & Regulatory Services, Price WaterhouseCoopers Private Limited.
Mr. Kaushik Mukherjee set the tone by giving an overview of the budget covering the four pillars that the Union Government had focused on to hoist growth. Professor Suman Mukerjee spoke on the macro-economic impact and its relevance in achieving the pillars of the budget proposals for 2022-23. Mr. Kapil Basu analyzed the impact on indirect tax and regulatory services and Mr. Gopal Agarwal gave an overview of the direct tax and its impact.

Membership

By joining AMCHAM India, you become part of an active and dynamic Apex Chamber of U.S. Industry in India with a membership base of more than 400 American companies in India. AMCHAM is an important voice for policy advocacy, a critical source for business intelligence, a vibrant platform for networking and expanding your business.

Karnataka Chapter Session on Decoding the Union Budget 2022-23

AMCHAM’s Karnataka Chapter hosted a webinar on ‘Decoding the Union Budget 2022-23’ in partnership with PwC on February 2nd. As the Indian economy recovers from the effects of the unprecedented pandemic, the budget will play a very key role in defining the path forward. The government made multiple important announcements to strengthen the economy, take significant steps to boost the growth and continue the momentum for steady economic revival.
The webinar focussed on highlighting the implications of the Union Budget 2022-23, summarized key themes, deep dived into tax insights and other policy outcomes. The speakers were Mr. Akhilesh Ranjan, Former Member of CBDT, Price Waterhouse & Co LLP, Mr. Kunal Wadhwa, Partner, PwC India, Mr. Hardev Sabharwal, Partner, Price Waterhouse & Co LLP and Mr. Keyur Shah, Partner, Price Waterhouse & Co LLP. Members were requested to share their suggestions for the budget memorandum at the end of the session.

Membership

By joining AMCHAM India, you become part of an active and dynamic Apex Chamber of U.S. Industry in India with a membership base of more than 400 American companies in India. AMCHAM is an important voice for policy advocacy, a critical source for business intelligence, a vibrant platform for networking and expanding your business.