Business delegation to USA, 2012 New York Chicago …ficci.in/events/21116/program-us.pdf · 1...

1

Business delegation to USA, 2012

New York Chicago

New York (24- 25 September 2012)

Monday (24 September 2012)

The 9th Annual India Investment Forum- Day I

Hotel Grand Hyatt

8:00-9:00

Registration and Continental Breakfast Foyer of Empire Ballroom, Salon 3 (Ballroom Level) OFFICIAL OPENING CEREMONY Welcome and Opening Addresses Empire Ballroom, Salon 3 Forum Moderator Harvey Shapiro Senior Advisor Institutional Investor

9:00-9:05

Diane Alfano Chairman Institutional Investor

9:05-9:15

Rajiv Lall Vice Chairman & Managing Director IDFC Limited

9:15-9:20

R V Kanoria President/ Chairman & Managing Director Federation of Indian Chambers of Commerce & Industry (FICCI) / Kanoria Chemicals Ltd.

9:20-9:40

Keynote Address: Cementing a Long Relationship Empire Ballroom, Salon 3 H.E. Ambassador Nirupama Rao

2

Ambassador of India to the US Government of India

9:40- 10.00

Onstage Dialogue: India – Déjà vu Reforms? Empire Ballroom, Salon 3

Deepak Parekh

Chairman HDFC Limited

With Omkar Goswami Chairman & Founder

CERG Advisory Pvt. Limited

10:00-11:00

Plenary Session: Indian Capital Markets – Time Up or Time Out? Empire Ballroom, Salon 3 Chaired by: George Hoguet Managing Director, Portfolio Manager and Global Investment Strategist State Street Global Advisors Panelists:

Roopa Kudva Managing Director & CEO CRISIL Limited Kathryn Koch Senior Portfolio Strategist Goldman Sachs Asset Management

Tapasije Mishra Managing Director & Group Chief Executive Officer IDFC Capital Limited Ravi Narain Managing Director National Stock Exchange of India Limited

Despite having a high household savings rate of over 30%, India’s equity markets are

3

dependent on foreign investors since scarcely 2% of the 30% goes into equity investment. During 2011 foreign investors were net sellers of $540 million and the stock market fell. In the first quarter of 2012 foreign investors put in about $8.8 billion and the markets rallied. But given a spate of scandals, the resultant court decisions, followed by proposed amendments in tax law with retrospective effect, has their confidence been shaken? Do they continue to put faith in the long term India story? What steps would the Government need to take to revive confidence? Does a coalition Government have the will to be able to take those steps?

11:00-11:20

Special Address: Breakout Nations: Does India Have a Chance? Empire Ballroom, Salon 3 Ruchir Sharma Managing Director Morgan Stanley Investment Management Author – Breakout Nations: In Pursuit of the Next Economic Miracles

11:20-11:40

Coffee Break Foyer of Empire Ballroom, Salon 3

11:40-12:00

Special Address: Robert D. Hormats Under Secretary, Economic Growth, Energy & Environment, State Department Government of United States of America

12:00-13:00

Plenary Session: Meeting India’s Thirst for Energy Chaired by: Harvey Shapiro Senior Advisor Institutional Investor Panelists: B P Rao Chairman & Managing Director Bharat Heavy Electricals Limited S Narsing Rao Chairman cum Managing Director Coal India Limited Ashok Lavasa Additional Secretary, Ministry of Power Government of India

4

Satnam Singh Chairman & Managing Director Power Finance Corporation Limited Rajeev Sharma Chairman & Managing Director Rural Electrification Corporation Limited Ambassador Carlos Pascual Special Envoy and Coordinator, Bureau of Energy Resources U.S. Department of State, US Government India faces a perennial shortage of power, partly because of theft, euphemistically called transmission losses, and partly because of free power provided by some states. Although India has the world’s largest reserves of coal, these are not efficiently exploited because this industry is not completely open to the private sector. The Prime Minister’s Office is pressing Coal India, the largest coal producer in the world, to sign agreements of supply with power producers; however, Coal India is reluctant to do so. Indian hydro-electric power has limited scope for expansion, whereas renewable energy is still small. How will India’s power needs be met? Will natural gas be part of the solution? Is India’s regulatory environment conducive to attracting companies to discover offshore oil and gas, a highly risky and capital intensive business? How will India meet its energy needs to grow? And what are the opportunities for foreign investors arising out of that?

13:00-14:20

Luncheon Empire Ballroom, Salon 2

14:20–14:40

Keynote Address: Challenges of Ensuring a Level Playing Field Empire Ballroom, Salon 3 Ashok Chawla Chairman Competition Commission, Government of India

14:40–15:00

Special Address: Making India Competitive Empire Ballroom, Salon 3 Rajiv Kumar Secretary General Federation of India Chambers of Commerce & Industry

15:00- 15:55

Plenary Session: Indian Banking/Financial Sector’s Regulated Growth – Better Safe Than Sorry? Empire Ballroom, Salon 3 Chaired by:

5

Deepak Parekh Chairman HDFC Limited Panelists: B A Prabhakar Chairman & Managing Director Andhra Bank Omkar Goswami Chairman & Founder CERG Advisory Pvt. Limited Naina Lal Kidwai Country Head HSBC India, Director HSBC Asia Pacific HSBC

S L Bansal Chairman & Managing Director Oriental Bank of Commerce Santosh Nayar Deputy Managing Director & Group Executive (Corporate Banking Group) State Bank of India The banking sector in India, once dominated by the public sector banks, has witnessed a slow but steady growth. Moreover, thanks to good regulatory oversight, this sector has remained stable compared to the currently volatile European banking sector. Yet more than half of the population do not have access to banking services, as brick and mortar branches are unavailable in smaller villages. The banking sector also faces the problem of non-performing assets (NPA) particularly in the airline and textile sectors. How will banks tackle NPA issues? How will they reach out to those in remote areas and provide financial inclusion? Will the unique identity, or Adhaar, project help in providing basic, no frills services to these tiny accounts? Will the banks be able to create a business model that would make such small accounts profitable? Few of the Indian banks, barring SBI, are of global size; will there be more consolidations in the industry?

15:55-16:15

Coffee Break Foyer of Empire Ballroom, Salon 3

16:15-16:35

Keynote Address: India’s Disinvestment Programme – Lessons Learned Empire Ballroom, Salon 3

6

Mohammed Haleem Khan Secretary, Department of Disinvestment, Ministry of Finance Government of India

16:35-16:55

Special Address: Rebuilding Brand India M Damodaran Chairman, Committee to Suggest Measures to Improve Investment Climate in India, Ministry Of Corporate Affairs Government of India

16:55-17:00

Closing Remarks Empire Ballroom, Salon 3 Tapasije Mishra Group Chief Executive Officer IDFC Capital Limited

17:00-18:30

Cocktail Reception Empire Ballroom, Salon 2

Tuesday (25 September 2012)

The 9th Annual India Investment Forum- Day II

Hotel Grand Hyatt

8:00-9:00

Continental Breakfast Foyer of Empire Ballroom, Salon 3 (Ballroom Level)

9:05-9:10

Opening Address Empire Ballroom, Salon 3 Tony Shale Chief Executive Officer, Asia-Pacific Euromoney Institutional Investor PLC

9:10-9:30

Keynote Address: Untangling Crossed Telecom Wires Rahul Khullar Chairman

7

Telecom Regulatory Authority of India

9.30- 10.20

Plenary Session: Inefficient Indian Infrastructure - Are We Ready for Change? Empire Ballroom, Salon 3 Chaired by: S Sundareshan Secretary, Department of Heavy Industries Ministry of Heavy Industries & Public Enterprises Government of India Panelists: Rohit Kumar Singh Joint Secretary, Road Transport, Ministry of Road Transport & Highways Government of India S K Goel Chairman and Managing Director India Infrastructure Finance Company Limited Virendra Mhaiskar Chairman & CEO IRB Infrastructure Developers Limited

A Subbarao Group Chief Financial Officer GMR Group

Navin Raheja Chairman & Managing Director Raheja Developers P Limited India undertook an ambitious road development programme to connect four metropolitan cities of Delhi, Kolkatta, Chennai and Mumbai, called the Golden Quadrilateral. This was funded by a cess, independent of the Union Budget and is now complete. The second phase calls for connecting the smaller towns. India is now ready to launch the Delhi-Mumbai Freight Corridor, a $90 billion project, in collaboration with Japanese companies, to establish a dedicated railway corridor passing between several states. Alongside, several smart cities will come up, which would lead to one of the biggest rural to urban migrations in the history of mankind. In one of the largest public-private partnership programmes, India plans to spend $1 trillion to set up ports, airports and roads, providing one of the most promising investment opportunities to foreign investors seeking annuity returns. But has India created the financial and legal frameworks necessary for this to happen? Will infrastructure investment be

8

hampered by the paucity of long term financial resources, given that the domestic pension market remains undeveloped?

10.20- 10.30

Coffee Break Foyer of Empire Ballroom, Salon 3

10:30-10:50

Keynote Address: Choice of Growth And/Or Inflation Empire Ballroom, Salon 3 Subir Gokarn Deputy Governor Reserve Bank of India

10:50- 11:05

Special Address: Developing a Bond Market in India Ajata Mediratta Portfolio Manager, Partner Greylock Capital Management CCI)

11.05- 12.05

Plenary Session: The Indian Consumer Speaks with His Wallet Empire Ballroom, Salon 3 Chaired by: Harvey Shapiro Senior Advisor Institutional Investor Panelists: Suneeta Reddy Joint Managing Director Apollo Hospitals Limited Bharat Doshi Executive Director & Group Chief Financial Officer Mahindra & Mahindra Limited Rahul Bharti General Manager, Corporate Strategy/ Co-Chair International Relations Maruti Suzuki Limited/Society of Indian Automobile Manufacturers Bhaskar Bhat Managing Director

9

Titan Industries Limited The Indian consumer has been driving growth. For years starved of quality products because of the license-permit raj, he has discovered the charm of choice, with a passion. How long can this last? On one side, there are more cities with over 1 million people in India than in all of Europe and city dwellers, with jobs, have more spending power than rural people. The new cities being planned will keep consumer spending growth as a factor propelling the economy. On the other hand, inflation is untamed, and, without a social security system or state guaranteed healthcare, Indians may want to start to save more. Will consumer spending continue to propel growth? Will the Government be able to control its fiscal deficit, easing the pressure on the Reserve Bank of India

12.05- 12.30

Debate: "The Indian Stock Market Will be up 20% by the next India Investment Forum" For: Nikhil Vora Co-head, Research IDFC Against: Kunal Mehra Portfolio Manager New Vernon Capital

12:30- 12:35

Closing Remarks Vikram Limaye Executive Director IDFC Limited.

12:35-14:00

Luncheon

Empire Ballroom, Salon 2

14:00

Forum Concludes One-on-one meetings continue in meeting rooms.

10

Chicago (25- 27 September 2012)

Tuesday ( 25 September 2012)

18.30

Evening reception by USIBC

Wednesday ( 26 September 2012)

Symposium on ‘Indian Infrastructure –The One Trillion Dollar Opportunity’

Hotel Chicago Hilton

8:30 - 9:00

Registration & Light Breakfast

9:00 - 9:45

Inaugural Keynote Session Inaugural Remarks: Keynote Addresses: Rajiv B Lall, CEO & MD Infrastructure Development Finance Company Ltd James S Metcalf, Chairman & CEO USG Corporation

9:45 - 10:30

1st Panel Discussion : Project Finance in Indian Infrastructure

Speakers: Larry Walther Member, Board of Directors EX-IM Bank of the US Mr Shailesh Pathak President Srei Infrastructure Finance Ltd

11

Arthur Pilzer, Bechtel Financing Solutions

10:30 - 10:45

Discussion/Q&A

10:45- 11:00

Coffee Break

11:00 - 11:45

2nd Panel Discussion : Innovative Models to Make PPP work

Speakers: Amitabh Kant DMICDC George Tapas URS Corporation Rajinder Gupta Kellogg School of Management

11:45 - 12:00

Discussion / Q&A

12:00 - 12:30

12.30 – 1.30

Luncheon : Followed by Conversation Panel Marshall Bouton President Chicago Council on Global Affairs With P.K Chaudhery,

Chief Secretary Government of Haryana, India

RV Kanoria

12

President/ Chairman & Managing Director Federation of Indian Chambers of Commerce & Industry (FICCI) / Kanoria Chemicals Ltd.

Del Renigar Senior Counsel Global Government Affairs & Policy at General Electric

1:45 - 2:45

Presentation by Govt of India(GOI) Topic: Investing in Indian Infrastructure: High Risk or High Potential Speaker: B.K. Chaturvedi Member Planning Commission

2:45 – 3.00

Coffee Break

3.00- 3.45

3rd Panel Discussion : Accelerating Investment in the Indian Infrastructure Sector Ron Somers President USIBC David A. Carpenter Mayer Brown Rajiv Kumar Secretary Generak FICCI

3.45 – 4.00

Discussion / Q&A

4:00- 4.07

Wrap Up

4.07 – 4.15

Concluding Remarks

13

4.15 – 5.45

Networking and Cocktail Session

Thursday ( 27 September 2012)

8.00

GE facility visit 161 North Clark Street, Street No. 7, Chicago, IL 60601

11.30 - 2.30

Roundtable on Infrastructure at K & L Gates 70 West Madison St, Suite 3100, Chicago, IL 60602