American Chamber of Commerce in India
Apex Chamber of U.S. Industry in India
Western Region Signature Event – India: Opportunity to Leap Forward and Become the 3rd Largest Economy in the World by 2030 – 19th October 2020
On October 19th, AMCHAM’s Western Region organized it’s signature event under the overarching theme ‘India: Opportunity to Leap Forward and Become the 3rd Largest Economy in the World by 2030.’ Ms. Ranjana Khanna, Director General CEO, AMCHAM, welcomed the august gathering of industry leaders through her opening remarks. In her welcome address Ms. Kaku Nakhate, Vice Chair, AMCHAM and President & Country Head, India, Bank of America N.A. shared a brief overview of the current Indian economic scenario and the key areas enabling the leap forward for India. Consul General David J. Ranz, U.S. Consulate General Mumbai, through his keynote address on ‘Regulatory Reform: A Driver of Indian Innovation and Growth’ emphasized stable economic regulations being the path to India attaining its goal of becoming a $5 trillion economy and the 3rd largest economy in the word by 2030. He stated that under the present global pandemic, India has the opportunity to attract business and foreign investments, enhance free and fair trade, adopt emerging technologies and innovations to support manufacturing, supply chain, infrastructure and global trade.
In the first segment of the program a panel session on ‘Atmanirbhar Bharat: India a Nerve Centre of Global Supply Chain’ distinguished panel speakers Mr. Deepak Bagla, Managing Director & CEO, Invest India and Mr. Vikram Sahu, Head of APAC Research, BofA Securities shared insightful views on the global economic impact of the COVID-19 pandemic, the tectonic shift in global supply chain as well as the opportunities that lay ahead for India. They also highlighted the positive effect of the early lockdown, continued productivity in agriculture, FMCG, manufacturing and other industry sectors, the growth of digital infrastructure, the success of the work from home model and the resilience of India’s MSMEs. The session was moderated by Ms. Kaku Nakhate.
The next segment was a crackling fireside chat with Mr. Shailendra Jagtap, Vice Chairman – Western Region, AMCHAM and Managing Director & CEO, John Deere India and Mr. Sudhir Kapadia, Partner & National Tax Leader, Ernst & Young LLP which delved into a discussion on ‘Rural Resurgence Will Fuel India’s Economic Recovery.’ The interesting conversation traced the history of agriculture in India, highlighted the willingness of Indian farmers to adopt new technologies and measures introduced by the government to support and provide opportunities for the growth of Indian rural and agriculture industry, and last but not least, the farm bill.
The final segment of the evening was a captivating panel session on ‘Preparing for New Normal – Vaccines & Future of Work’ with Dr. Paul Kershaw, Vice President, Medical Affairs, Janssen Asia Pacific, Janssen, the Pharmaceutical Companies of Johnson & Johnson and Ms. Vani Reddy, Head – Clinical Practices India, Optum Health & Technology (India) Private Limited. Dr. Kershaw shared insights on the trial and testing processes that are underway as well as the expected development and distribution timeline of the much awaited COVID-19 vaccine. Ms. Reddy brought to fore the increasing necessity to advocate and support mental health during the pandemic. The unprecedented times have led to emotional upheavals, recognizing individual ability to deal with anxiety, ensuring visible safety measures at the workplace and advice on building team strength and resilience. The session was moderated by Mr. Sarthak Ranade, Chairman – Western Region, AMCHAM and Managing Director, Janssen India, Johnson & Johnson. The event concluded with closing remarks and a vote of thanks by Mr. Sarthak Ranade. The event was sponsored by Johnson & Johnson and John Deere India.