Will kick off the first US-India Strategic and Commercial Dialogue.
AB Wire
The Vice President of the United States Joe Biden, the Secretary of State John Kerry, and the Indian Minister of External Affairs Sushma Swaraj, along with captains of industry from both countries, will address the U.S.-India Business Council on the occasion of its 40th anniversary on September 21 in Washington, DC, to kick off the first U.S.-India Strategic and Commercial Dialogue.
“It’s a privilege for USIBC to host government and business leaders from both countries on the eve of the U.S.-India Strategic and Commercial Dialogue and on the occasion of the council’s 40th anniversary. The founding principle of the council four decades ago – which grew out of the vision of then-U.S. Secretary of State, Henry Kissinger – remains even more true today: the world’s largest democracies share a love of freedom and an entrepreneurial spirit that – if nurtured – can help realize the full potential of India-U.S. relations,” said USIBC Chairman and MasterCard President and CEO, Ajay Banga, in a statement.
“The U.S. business relationship with India is one of the most valuable in the world, and we have seen great progress over the last 40 years,” said President of USIBC Mukesh Aghi, in a statement. “We are honored to welcome these distinguished speakers from both countries – from both public and private sectors – on the occasion of this milestone anniversary. This level of bilateral engagement and commitment to furthering trust and cooperation has been one of USIBC’s hallmarks for the past four decades and will be for decades more to come.”
The government to government dialogue at this year’s summit will also include U.S. Secretary of Commerce Penny Pritzker, Minister of State for Commerce and Industry Nirmala Sitharaman, and Minister of State with Independent Charge for Power, Coal and New & Renewable Energy Piyush Goyal.
The Council also honors business and government leaders for their commitment towards building a more inclusive global economy. This year’s honorees include CEO and Chairman of PepsiCo Indra Nooyi and Chairperson and Editorial Director of the Hindustan Times Group, Shobhana Bhartia.
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What exactly was Dr Aghi’s last date/month as CEO of L&T Infotech (Services Cluster)? There was this piece of news (Oct-Nov, 2014), that to the best of my knowledge was exclusive to ToI and ET . I have not seen this news in any other online publications of Live Mint, Business Standard, Financial Express, Hindu Business Line, CXO Today etc. Please refer, The Times of India article- Oct 22, 2014 – L&T Infotech joint CEOs quit Oct 22 2014 -. Excerpts: “The joint CEOs of L&T Infotech, Vivek Chopra and Mukesh Aghi, quit the company last week after two years at the helm –The reasons for the exit are not clear, but analysts noted that the leadership in the nearly $1-billion L&T Infotech had become very top heavy. Above the joint CEOs was V K Magapu, the managing director; and in May this year, the company appointed former Infosys senior vice-president Chandrashekar Kakal as COO”. Please refer, The Economic Times article – Nov 6, 2014 – L&T Info to hire joint CEOs by month end; but all decisions funnelled through AM Naik – Excerpts – “Joint CEOs Vivek Chopra and Mukesh Aghi leave the company last month, two years after they were appointed– To be sure, both Chopra and Aghi were not true CEOs in that they both reported to managing director VK Magapu, who then reported into Naik. Magapu was brought into the company in September 2012 after he retired from L&T.” Eentry-exit of CXOs information usually affects share prices of company, L&T stock after this news up by 3% on 15 Jan after a along haul!—————————————————How about Dr Aghi’s well studied plans/targets of taking LnT Infotech to $1 billion revenue club by 2013 end and $3 billion in next 2-3 years i.e. 2015-16? As per recent report LnT Infotech is expecting to be in $1 billion (in revenues) club by mid 2016. Should we expect some credibility from business leaders like Dr Aghi. Where he has taken Steria India headcount and revenues as CEO, where he has taken LnT Infotech (services cluster) headcount and revenue as CEO of LnT Infotech (Services Cluster)? His exits from both these firms were quite shrouded, why he did not reach out to media to discuss about his tenures and exit at LnT Infotech and reasons why he failed to achieve the set target? Should we expect some transparency, accountability and credibility from business leaders? When Dr Aghi says he is bullish about India-US trade petition of $500 billion can it be taken at face value with seriousness? What is Dr Aghi’s breath taking performance CEO of Steria India and CEO of LnT Infotech (Services Cluster) that made him eligible for such important position with a substantial bearing on India-US trade potential of $500 billion??