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Vice President Mike Pence speaks on US India future growth at 42nd USIBC Summit

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USIBC hosts 42nd Summit in Washington DC during PM Modi's visit. Keynote speaker Vice President Mike Spence announces visit to India

USIBC hosts 42nd Summit in Washington DC during PM Modi’s visit. Keynote speaker Vice President Mike Spence announces visit to India

 

WASHINGTON (Diya TV) — Celebrating its 42nd year, the U.S. Chamber of Commerce U.S.-India Business Council’s (USIBC) Annual Leadership Summit today featured Vice President of the United States Mike Pence and other high-ranking government and private sector leaders to address USIBC members and guests.  The Leadership Summit focused on the important role of the private sector in advancing the ties between the two countries, the future of the U.S.-India economic relationship, as well as strengthening and deepening the U.S.-India defense partnership.

“The partnership between the U.S. and India has never been more important,” said John Chambers, USIBC chairman and executive chairman of Cisco. “Both governments are deeply committed to creating greater economic opportunity for their citizens. The USIBC does just that by advancing bilateral cooperation between the two nations. I’m incredibly proud of the impact we’ve had so far in driving economic growth, job creation, innovation and entrepreneurship in both nations, and we look forward to shaping the future of both countries by doubling down on our efforts in the years to come.”

The summit welcomed addresses from the Ambassador of India to the United States Navtej Sarna and Congressman Pete Sessions, chairman of the House Committee on Rules.

Adi Godrej receives the Global Leadership Award, applauds USIBC for advancing economic ties between US and India,  Andrew W. Mellon Auditorium in Washington D.C.

Adi Godrej receives the Global Leadership Award, applauds USIBC for advancing economic ties between US and India, Andrew W. Mellon Auditorium in Washington D.C.

USIBC presented its prestigious annual Global Leadership Awards” to Andrew Liveris, chairman and CEO of The Dow Chemical Company, and Adi Godrej, chairman of the Godrej Group. Both were honored for creating inclusive business environments, integrating India in the global supply chain and advancing core values such as manufacturing, innovation and scale in tough market conditions.

“Advanced technologies from companies such as Dow will deliver decisive contributions to help India realize its full potential, including economic diversification, sustainable growth and innovation,” Liveris said. “It is my honor to accept this award on behalf of Dow’s many innovators, manufacturers and problem-solvers who work every day to strengthen the U.S.-India partnership.”

“I would like to thank the U.S.-India Business Council for honoring me with the Global Leadership Award. The United States and India enjoy a strong economic relationship, both in terms of trade and investment.  With India’s strong expected growth over the next few years, this relationship will grow multifold and will be helped by the excellent work by the U.S.-India Business Council,” said Godrej on receiving the award.

“It is our pleasure honoring these two industry leaders that have made tremendous strides in their businesses. They are indicative of the power of private enterprise in building strong ties between India and the U.S. As both governments prioritize their domestic and foreign trade policies, we encourage fostering environments that grow businesses and advance economic opportunity in both India and the United States. We also congratulate President Trump and Prime Minister Modi on having completed a successful first round of talks and look forward to future engagements,” stated USIBC President Mukesh Aghi.

“The U.S.-India relationship is a powerful bond that has produced enormous value and advancements for both countries and the world over – from technology and industry to culture and education. By promoting and stimulating closer collaboration, particularly through the increased flow of trade, knowledge and diplomatic relations, we stand to create enormous value for companies, communities and individuals of both nations. The endeavors led in partnership by Prime Minister Modi, influential organizations like the USIBC and U.S. industry are critical to this endeavor. As a proud member supporting the efforts of the USIBC, we applaud all those who have stepped up to drive changes that will realize the full potential of this relationship,” Dinesh Paliwal, president and CEO of Harman International, said.

“India-U.S. trade relations have the opportunity like never before of growing exponentially under Prime Minister Modi’s ‘Make in India’ and President Trump’s ‘America First’ visions; the synergy between the two must be explored and exploited towards mutual benefit. SpiceJet is pleased to have announced an order of 205 Boeing 737 Max aircraft worth $22 billion, creating or sustaining 132,000 jobs in the U.S. An additional order of 20 airplanes was announced June 19, further adding 13,000 jobs in the U.S. There is now an opportunity for technologically advanced American companies to ‘Make in India’, including the likes of Boeing, to build commercial airplane parts in India. Please come and leverage the advantages of not only the fastest growing economy in the world but also the fastest growing aviation market in the world,” said Ajay Singh, CEO, SpiceJet.

The summit featured a dialogue on “Achieving Common Goals:  Prosperity & Jobs for All” moderated by Politico Editor P. J. Joshi and featured global CEOs Andrew Liveris, Adi Godrej, and Ajay Singh. The discussion highlighted major occurrences in the global economy that could influence the future of the workforce and employment, challenges that businesses face in the current environment, as well as the importance of U.S.-India partnership for the global economic order.

The Summit also held a panel discussion on the U.S.-India defense and strategic partnership, with Congressman George Holding, Co-Chair, U.S.-India House Caucus and Congresswoman Tulsi Gabbard, Co-Chair, U.S.-India House Caucus. Moderated by USIBC Board Member and Senior Vice President of Lockheed Martin International John Rood, the panelists discussed the growing opportunities for both nations in building a dynamic strategic partnership.

USIBC also presented its inaugural “Artistic Achievement Award” to Yashwant Shirwadkar, a visionary and master in impressionistic landscape painting inspired by scenic cities in India.

Attending companies included leaders from MasterCard, Bank of America, Boeing, Amazon, General Atomics, Transunion, American Tower, Prudential Financial, KPMG, Caterpillar, Amway, and Spice Jet, among others.

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Impact commits $10M to supporting Indian American candidates

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Impact

WASHINGTON (Diya TV) — Indian American IMPACT, a political organization working to put Indian Americans in public office, announced a new $10 million commitment to support Indian American candidates nationwide. They also announced public interest lawyer Neil Makhija will be IMPACT’s new Executive Director. The number of Indian Americans in Congress has grown five-fold in just the past eight years.

U.S. Attorney General William Barr faced questioning by the House Judiciary Committee about the use of force against Black Lives Matter protesters in recent weeks and the Trump administration’s handling of the ongoing COVID-19 pandemic. We’ll show the clash between Congressmember Rep. Pramila Jayapal and Barr that’s making headlines.

The Securities and Exchange Commission (SEC) charged YouPlus, a Silicon Valley startup, and its CEO Shaukat Shamim with defrauding investors by making false and misleading statements about the company’s finances. The complaint states Shamim told investors YouPlus earned millions of dollars in annual revenue and had more than 100 customers, including Fortune 500 companies. But the scheme dissolved when Shamim is said to have told certain investors YouPlus had earned less than $500,000 and obtained only four paying customers since the company’s 2013 inception.

Ravi Kapur contributed to this report.

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Feds arrest entrepreneur Mukund Mohan for PPP fraud

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Mukund Mohan

SEATTLE (Diya TV) — U.S. attorneys arrested serial Indian American entrepreneur Mukund Mohan on charges of allegedly defrauding the Paycheck Protection Program with fake and altered documents and embezzling more than $5.5 million in COVID-19 relief funds through six shell companies. Mukund Mohan was a former Microsoft and Amazon executive and is currently the CTO of BuildDirect.

Shahid Buttar, who is running for Congress in San Francisco against House Speaker Nancy Pelosi, is being accused of sexual harassment by comedienne Elizabeth Croydon. Buttar said Croydon’s charges are false.

Apple manufacturer Foxconn has started building iPhone 11 units in a facility near Chennai in India. It’s the first time Apple has made one of its top-tier phones in India. India is the second-biggest smartphone market in the world, second only to China.

Ravi Kapur contributed to this report.

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India & China slowly move towards disengagement

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India

NEW DELHI (Diya TV) — India and China held virtual talks and agreed on a complete disengagement of troops along the line of control. But there remains sticking points in multiple areas along the border. India insists bilateral relations will not improve until “full peace and tranquility” are restored.

Police in Schenectady, New York are facing major scrutiny after footage was released of one of their officers applying a neck hold to 31 year old Yugeshwar Gaindarpersaud. He was treated and released, but he continues to face two charges of running away and resisting arrest. He’s accused of slashing his neighbors tire, causing $200 of damage. His attorneys are fighting to get prosecutors to drop the charges.

The UK Parliamentary Group, which visited Pakistan Administered Kashmir, and heavily criticized the Indian government for their recent constitutional change applying to Jammu, Kashmir and Ladakh, acknowledged they received nearly $18,000 from the Pakistan Government to make the trip.

Ravi Kapur contributed to this report.

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