Proceedings of IACC Annual Convention 2019

20th September 2019, Hotel Taj Mahal Palace, Colaba, Mumbai

Inaugural Session

(From L to R): Mr. Naushad Panjwani, Regional Vice President, WIC, IACC, Mr. Purnachandra

Rao, Executive Vice President, IACC, Mr. Suresh Kotak, Chairman, IACC Textile Forum; Mr.

Piyush Goyal, Hon’ble Minister of Railways and Commerce & Industry, Government of India, H.E.

Mr. Philip Dunton Murphy, Governor, State of New Jersey, USA, Ms. Krupalatha Martin Dass,

Director, Vlocity Cloud Applications India Private Limited, Mr. Nanik Rupani, Past Regional

President, WIC, IACC; Ms. Rajyalakshmi Rao, Executive Vice President, IACC; Mr. S K Sarkar,

National President, IACC, Dr. C Manohar, Dean, ISBR Business School

IACC hosted 5th edition of Annual Convention themed “Indo – US Bilateral Partnership:

Connecting The World”

India-US bilateral relations have developed into a ‘global strategic partnership’ based on shared

democratic values and increasing convergence of interests on bilateral, regional and global issues.

Bilateral trade in goods and services from India is 2% of U.S. world trade and has grown in recent

years. From the current statistics the trade between both the countries stand roughly around USD 146

Billion in 2018.

The two plus two dialogue between both the countries have always opened new doors in strengthening

bilateral relationship.

This year the theme “Connecting The World” has assumed greater significance as both the

countries are moving in the same direction towards creating a larger pool of economic resources by

leveraging the strengths of democratic structure and demography. The “Connectivity Market” would

offer to the world accessibility and affordability to superior technologies. Technology such as AI, IoT,

AR have got huge role to play in every sectors of business i.e. Automotive, Smart Cities, Banking &

Financial Services, Climate Change.

As a part of the inaugural address, Shri Piyush Goyal, Union Minister for Railways and Industry &

Commerce, stressed upon the importance of United States as strategic trade partner for India. He said,

both the countries are working closely in building strategic partnership in key sectors and both are

looking forward in taking this relationship to the next level. We are in continuous touch with US Trade

Office at Washington and we are hoping that very soon we will be having a proper bilateral trade

agreement in place.

We have identified key industries and sectors, where we can work in tandem with US and utilize their

high-end technology.

Being the Guest of Honour, H. E. Mr. Phil Dunton Murphy, Governor, State of New Jersey, USA

said “India shares a very close business networking relation with USA and has the potential of

becoming an alternative hub for U.S. business in the Indo-Pacific region”. With a seven day and six

city economic mission trip to India, he mentioned the State of New Jersey is looking forward to work

with India in increasing trade and investments as well as deepening education and cultural ties. He

announced opening of New Jersey Trade Representative Office at New Delhi which will be managed

and operated by T & A consulting.

Mr. S K Sarkar, National President, IACC, said IACC has always been working towards building strong

bilateral and economic ties between India & USA. This year annual convention is themed “Connecting

the World”. Accessibility to cutting edge technology & innovation will be crucial in building shared

vision as well as capacities in each other’s country. IACC has been espousing the cause of dovetailing

America First and Make in India to drive our partnership to newer heights.

Mr. Piyush Goyal, Hon’ble Minister of Railways and Commerce & Industry, Government of India

delivering Inaugural Address

H.E. Mr. Philip Dunton Murphy, Governor, State of New Jersey, USA

IACC MoU Signing with Maharashtra Pollution Control Board

(From L to R): Mr. S K Sarkar, National President, IACC & Mr. E Ravendiran (IAS), Member

Secretary, MPCB

Tripartite MoU Signing IACC, Datamatics and MPCB

Dr. Lalit Kanodia, Past National President, IACC & Chairman, Datamatics Global Services Ltd

along with Mr. S K Sarkar and Mr. E Ravendiran

IACC MoU Signing with Theistic Consultants

(From L to R): Mr. S K Sarkar, National President, IACC and Mr. E Umesh Unnikrishnan,

Director, Theistic Consultants

Key Note Presentation – State Partner – Maharashtra Industrial Development

Corporation (MIDC), Government of Maharashtra

Dr. P Anabalagan, IAS, CEO, Maharashtra Industrial Development Corporation (MIDC),

Government of Maharashtra gave keynote presentation showcasing Maharashtra as a most preferred

destination for foreign investment.

Maharashtra Industrial Development Corporation (MIDC) is the nodal Investment Promotion agency

under the Government of Maharashtra. It provides businesses with infrastructure such as land, roads,

water supply, drainage facilities and street lights etc.

Dr. Anabalagan made a video presentation along with showcasing “Magnetic Maharashtra”.

Video Presentation by MIDC on “Magnetic Maharashtra”

(From L to R): Mr. Kamal Vora, Secretary General, IACC & Dr. P Anbalagan, IAS, CEO, MIDC,

Govt. of Maharashtra

Panel Discussion I: Automotive: “EVs Indo – US Collaboration: Opportunities &

Challenges”

The Indian Automobile Industry is currently ranked 5th largest in the world and is set to be the 3rd

largest by 2030. Government of India, is working towards developing a mobility option which is

‘Shared, Connected and Electric’.

India unveiled the 'National Electric Mobility Mission Plan (NEMMP) 2020' to address the issues

of National energy security, vehicular pollution and growth of domestic manufacturing capabilities.

Department of Heavy Industry formulated a Scheme i.e. Faster Adoption and Manufacturing of

(Hybrid &) Electric Vehicles in India (FAME India) Scheme in the year 2015. Launched for a

period of 2 years, from 1st April to 31st March 2019 with an outlay of Rs 895 crore

The panel discussion focused on EVs Indo – US Collaboration: Opportunities & Challenges. The esteemed panelist for the session were Mr. Sushant Naik, Chairman, IACC Automotive Forum & National Head, Government & Public Affairs, Tata Motors Limited (Moderator) and Mr. Biswajit Bhattacharya, Partner & Executive Director, Automotive Industry Leader India SA, IBM India Private Limited, Mr. Kavan Mukhtyar, Partner & Leader, Automotive, PwC, Mr. Paresh Bhatt, Chief – New Business Services, Tata Power Ltd, Mr. Rino Raj, COO – Energy & Battery, BU, Tata Chemicals Ltd

(From L to R): Mr. Paresh Bhatt, Chief – New Business Services, Tata Power Ltd; Mr. Biswajit

Bhattacharya, Partner & Executive Director, Automotive Industry Leader India SA, IBM India

Private Limited; Mr. Kavan Mukhtyar, Partner & Leader, Automotive, PwC; Ms. Poorvi Chothani,

Regional Vice President, WIC, IACC; Mr. Sushant Naik, Chairman, IACC Automotive Forum &

National Head, Government & Public Affairs, Tata Motors Limited; Mr. Rino Raj, COO – Energy

& Battery, BU, Tata Chemicals Ltd.

State Presentation – AURIC (DMIC)

Mr. Gajanan Patil, Jt. MD, Aurangabad Industrial Township Ltd made a State Presentation on

Aurangabad Industrial Township.

Aurangabad Industrial City (AURIC) is one of India’s most well- planned, Greenfield & smart industrial

cities being developed over an area of 10,000 acres in Maharashtra, as a part of the Delhi- Mumbai

Industrial Corridor (DMIC). Strategically located at Shendra and Bidkin near Aurangabad, it is an

existing urban and industrial hub in the State. AURIC will tap in to the huge potential for industrial

advancement with the region.

AURIC’s development and implementation is being undertaken by Aurngabad Industrial Township

Limited (AITL), a special purpose vehicle between Maharashtra Industrial Development Corporation

(MIDC) and Delhi- Mumbai Industrial Corridor Development Corporation (DMICDC)

Mr. Gajanan Patil, Jt. MD, Aurangabad Industrial Township Ltd addressing the august

gathering

(From L to R): Mr. Kamal Vora, Secretary General, IACC & Mr. Gajanan Patil, Jt. MD, Aurangabad

Industrial Township Ltd

Panel Discussion II: Climate Change & Sustainability in partnership with Maharashtra Pollution Control Board (MPCB) & Knowledge Partner as E&Y

India announced its Nationally Determined Contributions (NDCs) at the Conference of Parties (CoP)

meeting in Paris, 2015. In its NDCs, India seeks to (a) reduce the Greenhouse Gas (GHG) emissions

intensity of its Gross Domestic Product (GDP) by 33–35% of 2005 levels, by 2030; (b) build 40% of

fossil-free power generation capacity by 2030, and (c) create an additional carbon sink of 2.5 to 3 billion

tonnes of carbon dioxide equivalent (CO2e) by 2030.

The discussion revolved around stimulating industries effort towards mitigating adverse impact of climate change. The esteemed panelist for the session were Dr. V M Motghare, Jt. Director, MPCB, Ms. Tania Banerjee, Manager, Ernst & Young, Mr. Ashish Kulkarni, Associate Partner, Ernst & Young, Mr. S K Sarkar, National President, IACC, Mr. Chandru Badrinarayanan, Managing Partner, ECube Investment Advisors Pvt. Ltd

(From Left to Right): Ms. Tania Banerjee, Manager, Ernst & Young, Dr. V M Motghare, Jt. Director, MPCB, Mr. Ashish Kulkarni, Associate Partner, Ernst & Young, Mr. S K Sarkar, National President, IACC, Mr. Chandru Badrinarayanan, Managing Partner, ECube Investment Advisors Pvt. Ltd

Panel Discussion III: Banking & Financial Services and Investments Banking sector has been at the forefront of driving GDP growth of India. We have seen rapid development of financial services in the country from 2004 onwards with introduction of Payments Bank and Small Finance Banks. The advent of technology has seen India take strides to create global records such as through Jan Dhan accounts numbering over 360 million. Majority of the large US banks, Mutual Funds, all three major rating agencies are already present in India. And yet we have a lot more to achieve. Indian financial market is yet to achieve the regulatory framework to access global markets for many of the financial products that are well established. As we know, liquidity and credit appetite of Indian lenders have been playing hide and seek. This creates a need for a platform where originators can place their loan book and get liquidity. At the same time, the US funds and banks are searching for better yield on their investments given negative yields in majority of high rated European and Japanese instruments. A Mortgage Backed Securitization (MBS) or Commercial Mortgage Backed Securitization (CMBS) could be a starting point.

(From L to R): Mr. S. Sridhar, Chairman, Strategic Research Information and Capital Services Pvt. Ltd & Former CMD, Central Bank of India, Mr. Mahesh Thakkar, Director General, FIDC , Mr. Atul Joshi, CEO, Oyster Capital Management & Advisory (Moderator); Ms. Rajyalakshmi Rao, Executive Vice President, IACC; Dr. M. Narendra, Former CMD, Indian Overseas Bank

Panel Discussion IV: Developing Smart Cities in India- Opportunities & Challenges” The smart city of the future will be a complex, interconnected network of autonomous vehicles, smart

buildings and data-driven infrastructure. It will bring the Internet of Things to life on an impressive

scale.

The very definition of urban infrastructure is changing from mere physical assets to embrace data and

technology. Data aids city officials to plan and operate more efficiently. Data is now available through

the digitization of government and private sector records and the abundance of cheap sensors along

with the growing capabilities to store, integrate, and analyze all of that data. Cities and their corporate

partners need people who are trained to translate the data into tangible benefits for urban dwellers.

(From L to R): Mr. Abhay Kantak, Director, Urban Practice, CRISIL; Mr. Arun Jyoti, Director, Govt. Relations, Honeywell India; Mr. Sujit Patheja, Senior Director, Smart Cities, SAP; Mr. Yash Kansal, Senior Director and Head of Operations – APCO Worldwide (Moderator)