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Welcoming Prime Minister <keyword id="6354477" type="PERSON" weightage="100" keywordseo="Narendra-Modi">Narendra Modi</keyword> to the Bay Area in California, US-India <keyword id="179196" type="ORGANIZATION" weightage="100" keywordseo="Business-Council">Business Council</keyword> president <keyword id="1085906" type="PERSON" weightage="100" keywordseo="Mukesh-Aghi">Mukesh Aghi</keyword> said 'Digital India' is a vast and expansive vision and the key to fulfilling the economic and social progress of the nation. All of the Prime Minister's programmes ultimately have a digital focus, he noted. USIBC is hosting a dinner for Modi in San Jose, California on September 26 which would be attended by almost all CEOs of major IT firms in the <keyword id="6357722" type="COMPANY" weightage="100" keywordseo="silicon-valley">Silicon Valley</keyword>. 

	This will provide Silicon Valley-based companies an opportunity to interact with the Prime Minister and promote avenues for future collaboration with India, a media release said.
 The event will also host incoming USIBC chairman <keyword id="1477547" type="UNKNOWN" weightage="100" keywordseo="John-T-Chambers">John T Chambers</keyword>, who is the executive chairman of Cisco. 

	"We are honoured to be part of the Prime Minister's visit to the west coast of the United States," Aghi said.
 

	"Modi will be looking for investments, jobs, and a platform to tell the world that India is open to do business - especially in the technology field, where it already has an impressive USD 100 billion IT industry," he said.
 

	"We absolutely agree with the Prime Minister's goal of making India a top 50 country for ease of doing business. Such a climate will be instrumental to attracting greater foreign investment to the country," Aghi said.
 

	US companies, especially those located in the Silicon Valley, have a great deal to bring to these efforts, beginning with their technology, capital, intellectual property, and desire to be long-term players in India's future, he asserted.
 

	Observing that around 15 per cent of startups in Silicon Valley have been founded by Indians, Aghi said they represent a cross border flow of ideas, information and knowledge as well as the progress of the US-India partnership in recent years.
 

	"This community is eager to be a part of India's growth story and as a result, the Silicon Valley is perfectly poised to help transform India into a more networked and connected society," he said.
 

	USIBC and member companies are eager to support Prime Minister Modi's initiatives in all ways possible, he said.
 

	"Together we can provide jobs, opportunity, and prosperity to both of our countries and this is the time to seize the opportunities and potential of our relationship," he added.
 
(Image credits: Indiatimes)

Silicon Valley sees better investment opportunity in India with PM Modi's visit

On his 5-day visit to the United States, Urban Development Minister M <keyword id="74369" type="PERSON" weightage="20" keywordseo="Venkaiah-Naidu">Venkaiah Naidu</keyword> said that India's economy is back on track and the country's growth rate is likely to cross eight per cent in the coming years. 
 
While inviting foreign investors to India, Naidu told them to take advantage of the existing business-friendly atmosphere of the country. 
 "Public life in India is undergoing a rapid transformation. The economy is back on track, inflation is under control, and growth rate is likely to cross eight per cent in the coming years," Naidu, 66, said in his interaction with the American industry leaders at a round table organised by the <keyword id="236377" type="ORGANIZATION" weightage="20" keywordseo="US-India-Business-Council">US India Business Council</keyword> (USIBC). 
 While talking about the initiatives <keyword id="6360789" type="ORGANIZATION" weightage="20" keywordseo="Modi-Government">Modi government</keyword> has undertaken, Naidu had also mentioned social security schemes and affordable housing programs that could be launched anytime soon. 
 Naidu also invited corporations to invest in Smart Cities, Atal Mission for Rejuvenation and <keyword id="2130852" type="UNKNOWN" weightage="20" keywordseo="Urban-transformation">Urban Transformation</keyword> (AMRUT) projects, a USIBC statement said. 
 
As per an Economic Times report, Naidu also explained the smart cities to them and said that the smart cities will incorporate the use of solar energy, rain water harvesting, good sanitation, drinking water and smart public transportation. Guidelines on selection of the cities, financing mechanisms and incentives for private sector participation were also explained. 
 Expressing optimism in Naidu's vision, USIBC President <keyword id="1085906" type="PERSON" weightage="20" keywordseo="Mukesh-Aghi">Mukesh Aghi</keyword> said, "Flagship programs such as Smart Cities, AMRUT and Housing for All reflect the Indian government's dedication to innovation and technology while not overlooking the urgent need to provide all citizens with access to basic necessities such as sanitation, water, power and means to earning a livelihood". 
Image: indiatimes

The economy is back on track, says Venkaiah Naidu

<keyword id="20115570" type="General" weightage="20" keywordseo="salil-parekh" source="keywords">Salil Parekh</keyword>, CEO and managing director at <keyword id="19906778" type="General" weightage="20" keywordseo="infosys" source="keywords">Infosys</keyword>, has joined the US-<keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> Strategic and Partnership Forum as a member of its board of directors. An industry veteran with nearly three decades in the IT services industry, executing business turnarounds and managing successful acquisitions, <keyword id="20039787" type="General" weightage="20" keywordseo="parekh" source="keywords">Parekh</keyword>, in his capacity as Infosys CEO, sets the strategic direction of one of India's most notable IT giants while nurturing a strong leadership team to drive its execution. "<keyword id="20696168" type="General" weightage="20" keywordseo="salil" source="keywords">Salil</keyword>'s recent addition to the USISPF Board accentuates the success story of Indian IT giants in the US For years. Infosys has been a household name in India, and IT services are one of India's biggest exports to the United States," said USISPF president and CEO Mukesh Aghi. "In an era of digital economy and digital trade, Infosys' success in the US is a testimony to the growing synergy in tech ties and how India's robust tech talent plays an integral part in strengthening and growing the tech sector in the United States," Aghi said. USISPF chairman John Chambers said Salil and Infosys' participation on the USISPF Board will help forge a critical reliance for the two economies by consolidating digital trade, ultimately further establishing India as an innovation partner to the world, which is the organisation's core mission. "I'm thrilled to have Salil, a leader with a great track record in the IT industry, join the USISPF Board. Infosys' impact in the American tech industry has been extremely important, and the company played a vital part in India's nearly USD 200 billion software exports for 2023," Chambers said. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/indian-pc-market-down-by-6-6-in-2023-hp-leads-the-market-while-acer-gains/articleshow/107906820.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indian-pc-market-down-by-6-6-in-2023-hp-leads-the-market-while-acer-gains/articleshow/107906820.cms" target="_blank">Indian PC market down by 6.6% in 2023, HP leads the market while Acer gains</a><a href="https://www.businessinsider.in/tech/news/from-usernames-to-secret-codes-for-locked-chats-here-are-the-upcoming-whatsapp-features/articleshow/107885651.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/from-usernames-to-secret-codes-for-locked-chats-here-are-the-upcoming-whatsapp-features/articleshow/107885651.cms" target="_blank">From usernames to secret codes for locked chats, here are the upcoming WhatsApp features</a><a href="https://www.businessinsider.in/tech/mobile/news/iqoo-neo-9-pro-with-snapdragon-8-gen-2-launched-in-india-will-take-on-the-oneplus-12r/articleshow/107908049.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/iqoo-neo-9-pro-with-snapdragon-8-gen-2-launched-in-india-will-take-on-the-oneplus-12r/articleshow/107908049.cms" target="_blank">iQOO Neo 9 Pro with Snapdragon 8 Gen 2 launched in India, will take on the OnePlus 12R</a>

Infosys CEO Salil Parekh joins USISPF Board

US President Joe <keyword id="60973" type="General" weightage="80" keywordseo="biden" source="Orion">Biden</keyword> has made an inspired choice by nominating <keyword id="44475" type="General" weightage="20" keywordseo="ajay-banga" source="Orion">Ajay Banga</keyword> to the crucial position of the <keyword id="6354424" type="General" weightage="80" keywordseo="world-bank" source="Orion">World Bank</keyword> President, eminent Indian Americans said Thursday and described him as a global leader in technology, data, financial services and innovating for inclusion. Biden on Thursday nominated Indian-American business leader <keyword id="179217" type="General" weightage="100" keywordseo="banga" source="Orion">Banga</keyword>, 63, to lead the World Bank. If confirmed by the World Bank Board of Directors, Banga would be the first-ever Indian-American and Sikh-American to head either of the two top international financial institutions: the International Monetary Fund and the World Bank. "In nominating him to this position, the President has made an inspired choice," Indiaspora founder and chairman M R Rangaswami said after the White House announcement. Especially relevant, given recent commentary around the Bank's mission and objectives, is that Banga brings a sharp focus on climate resiliency and environmental sustainability, said Rangaswami, a venture capitalist and philanthropist from Silicon Valley. Banga's deep expertise and several years of experience in the fields of financial inclusion, public-private partnerships, and climate finance make him a phenomenal leader to head the multilateral institution, US India Strategic and Partnership Forum (USISPF) said. Notably, Banga had an instrumental role to play in the formation of the USISPF. He is a founding board member of USISPF. A former CEO of MasterCard, Banga is the Vice Chairman of General Atlantic. "<keyword id="800" type="General" weightage="80" keywordseo="ajay" source="Orion">Ajay</keyword> is a tireless believer in both the strength of US-India ties and strengthening the relationship even further. Ajay has been instrumental in setting up USISPF as a founding board member and a vital pillar in our success over the last five years," said Mukesh Aghi, president of USISPF. "Ajay's background in his early years in India, gives him a deep understanding of the emerging market world and bridging the gaps in gender parity and working towards poverty alleviation, issues at the core ethos of the Bank's mission," Aghi said. Banga's work with Citigroup, MasterCard, General Atlantic, and USISPF will allow for a seamless transition to mobilizing resources in public-private partnerships to tackle issues on climate, water resources, food security, and healthcare, the forum said. "It's another proud chapter in the success stories of the Indian-American diaspora, and I wish Ajay all the best for this new inning," said Aghi. Sanjeev Joshipura, Indiaspora's executive director said that Ajay Banga's global private sector background, during which he initiated and led Mastercard's financial inclusion efforts, will be of immense value in enhancing his effectiveness as World Bank President. "Moreover, as the first Indian-born nominee to this role, he brings a lived understanding of the challenges faced by developing nations. Large, complex and multifaceted problems, such as those the World Bank endeavours to resolve, are not new for Ajay to handle," he said. Keywords(15)

Biden made an inspired choice by nominating Banga says Indian Americans

By Lalit K Jha Washington, Feb 1 (PTI) American companies having a foothold in India and those planning to expand their business in the fastest growing economy of the world expect "tax parity" in the annual budget to be tabled by Finance Minister Nirmala Sitharaman, the head of a top India-centric US business advocacy group said. Mukesh Aghi, president, US India Strategic and Partnership Forum (USISPF) said the American companies have high expectations from what Sitharaman would present in her fourth annual budget on Tuesday. The US companies, he noted, are very keen on investing in India as they believe that the fundamentals of the economy remain strong in the country, offer a big market and they would like to diversify given the Chinese risk factor. "They (US companies) are looking at tax parity. For example, e-commerce companies that have equalisation levy, that needs to be done away with. They are looking at lowering of tariffs. It is good for India also because domestic companies become much more competitive and efficient," he told PTI in an interview on Monday. American companies, Aghi said, are looking at more investment in India's infrastructure. They also want the labour laws and land acquisition process streamlined, he observed. "Because ease-of-doing business is still very critical in the minds of these investors. They spent a lot of time putting in an application for more land or water so that has to be sorted out," he said. The USISPF chief further said the US companies, from a long-term perspective, expect from the annual budget "a sense of predictability, transparency and concentrated process". These are the critical questions raised inside a boardroom when a company is planning to invest million or billions in India, he added. "I think it is important that the tax regime, for example, do not behave like tax terrorism, but behave more like tax partners. If you look at any US company at the moment, there will be some kind of tax issues with the authorities," he said in response to a question. Aghi added that it is important that corporate taxes are in line from a global perspective. They do not have extra taxes, which makes these companies' cost of manufacturing itself more expensive, he said. He said Sitharaman has been transparent and her confidence has gone up in handling the economy and the budget itself. Asked about the expectations of Indian Americans from the budget, Aghi said certain reforms in the regulations and taxations related to start-ups in India would help them create a better atmosphere and bring in more investment from the diaspora. "What we are seeing is more and more Indian Americans are funding startups," he said, noting that India produced 44 unicorns last year and there are over 10,000 startups blossoming in India. "It is important to allow these startups to list in the US as the capital and access is much easily available in the US, so valuation gets better," he said, adding that taxation reform is essential on options granted to employees. An early taxation on such options makes it less attractive, he argued. "India has a tremendous success story of startups. It is the third largest ecosystem in the world. That shows the zeal and the spirit of entrepreneurs in India….. they are willing to go out into an environment in which they can get better. "At the end of day, startups are job creators, and they are innovators. The combination is critical for India to sustain 8.5 to 9 per cent economic growth for the next 10-15 years," Aghi added. PTI LKJ SRY

Budget 2022: US companies look at tax parity, transparency, predictability

By Lalit K Jha Washington, Apr 23 () Facebook's USD 5.7 billion investment in Reliance Jio in the midst of coronavirus pandemic is a reflection of the faith that foreign companies have in Indian economy's potential and future growth, a top US-based India-centric business advocacy group has said. In an interview to , US India Strategic and Partnership Forum (USISPF) president Mukesh Aghi said the COVID-19 crisis has offered India the best opportunity to attract foreign investment and replace China as the world's manufacturing hub."I strongly feel that once the COVID-19 crisis ends, India will have the best opportunity to attract hundreds of these (foreign) companies into the country," Aghi told . It will not only create jobs but also bring in investments and keep the Indian economy's momentum going. The multi-billion-dollar investment announced by Facebook in an Indian company in the middle of the coronavirus pandemic shows that India is still a very attractive market on the digital commerce side, he said."The partnership between Facebook and Jio is a win-win value proposition for not only for both companies but also for citizens and consumers in India. It also reflects the faith of foreign companies in the potential of India's economy and future growth," Aghi said. It is important that "India builds confidence" among foreign companies by assuring them of providing a "level playing field" as well as "transparency and stability" in policy making, Aghi said. According to Aghi, India has brought in reforms in its corporate tax structure but it must look at its labour laws and land reform as well. The momentum has to keep moving in the right direction to build the confidence of foreign investors, he asserted. Because of the bitter experience that the US companies are having in China during this pandemic, wherein they cannot move their goods because of the many restrictions imposed by Beijing on them, the sentiment among these companies is: "We have to look beyond China and very fast," he said. Observing that tensions between China and the rest of the world are going to rise in future due to the COVID-19 crisis, Aghi referred to the USD 2 billion package announced by Japan for its companies to move their manufacturing base away from China."You will see more and more of that happening," he said. The COVID-19 crisis has shown that India can take up the role of global economic leader as it is taking care of its citizens while also helping its friends and people across the globe, he said. "It has shown that in time of need, India as a friend can step up. So, from a global leadership perspective, I think the stature of India has gone up," Aghi said. He further said that USISPF has estimated that for India to become a USD 5 trillion economy, it needs roughly USD 100 billion-dollar investment on an annual basis. At the moment, not only US companies but other companies too are looking for an alternative to China, he said."And If India plays its cards right, a lot of that (companies) can move into India," he said. LKJ RHL

COVID-19 crisis has given India best chance to attract foreign companies: USISPF

Gain a better understanding of how COVID-19 has impacted business around the world. Join us for the inaugural Business Insider Global Trends Festival, a five-day virtual event with more than 60 hours of content. We're bringing together business leaders from Asia, Europe, the US, and the UK onto four virtual stages for a truly global perspective. From live talks to dedicated workshops, the week's programming will be insightful, thought-provoking, and surprising — and accessible from your office or home office.<h2>Buy tickets for the event <a href="https://trendsfestival.com/en/tickets-for-trends-festival.html?utm_source=tf_usa&amp;utm_medium=referral&amp;utm_campaign=ticketn=ticket">here.</a></h2>This year's speakers are experts in their fields, and more are signing up to participate every week, so watch this space for updates. Check out the lineup so far:<ul><li>Reed Hastings, CEO and co-founder, Netflix</li><li>Nouriel Roubini, Economist</li><li>Blake Chandlee, Vice President-Global Business Solutions, TikTok US + EU</li><li>Sebastian Thrun, Founder, Udacity; Founder, Google X</li><li>Wolfgang Ischinger, Chairman, Munich Security Conference</li><li>Prashanth Chandrasekar, CEO, Stack Overflow</li><li>Adena T. Friedman, President and CEO, NASDAQ, Inc</li><li>Robert Lewandowski, Footballer, investor and UNICEF Goodwill Ambassador</li><li>Michael Miebach, President and CEO-Elect, Mastercard</li><li>Jennifer Jordan, Professor of Leadership and Organizational Behavior, IMD</li><li>Shéhérazade Semsar-de Boisséson, CEO, POLITICO.EU</li><li>Poppy Gustafsson, CEO, Darktrace</li><li>Sergio P. Ermotti, CEO, UBS Group</li><li>Carlos Watson, CEO and co-founder, OZY Media </li><li>Alexa von Bismarck, Country Manager Germany, Adyen</li><li>Christoph Franz, Chairman of the Board of Directors, Roche Holding</li><li>Mathias Döpfner, CEO, Axel Springer SE</li><li>Audrey Tang, Digital Minister, Taiwan</li><li>Alain Dehaze, CEO, Adecco Group</li><li>Marc Walder, CEO, Ringier AG</li><li>Prof. Marcel Salathé, Epidemiologist</li><li>Philip Vanhoutte, Founder, Ozadi</li><li>Jean-Francois Manzoni, President, IMD in Lausanne</li><li>Felix Oberholzer-Gee, Strategy Professor, Harvard Business School</li><li>Bob Dignen, Director, York Associates</li><li>Ritesh Agarwal, Founder and CEO (group), OYO Hotels &amp; Homes</li><li>David Folkerts-Landau, Group Chief Economist, Deutsche Bank</li><li>Dr. Friedrich von Bohlen und Halbach, Managing partner and co-founder, Hopp BioTech Holding GmbH &amp; co. KG.</li><li>Hannes Schmid, Photographer, Philanthropist, Founder of Smiling Gecko</li><li>Christian Lindener, Head of Airbus BizLab</li><li>Deepak Parekh, Chairman, HDFC Ltd. </li><li>Roksana Ciurysek-Gedir, Founder of Possible X</li><li>Geoff Ramsey, Chief Evangelist Officer, Co-Founder, Insider Intelligence</li><li>Shinichiro Isago, Director of AI, LINE</li><li>Ajay Piramal, Chairman, Piramal Group</li><li>Koen Gonnissen, Partner, Coach and Trainer, Mentally Fit</li><li>Ray Dalio, Founder, Co-CIO, Co-Chairman of Bridgewater Associates</li><li>Laura A. Hambley, President, Co-Founder of EvOHlution</li><li>Mukesh Aghi, President and CEO, USISPF</li><li>Markus Krebber, CFO, RWE</li><li>Tarek Müller, Co-founder and Co-CEO, ABOUT YOU</li><li>Arndt Rolfs, Founder and CEO, CENTOGENE</li><li>Kristin Peck, CEO, Zoetis</li><li>Mark Mader, President and CEO, Smartsheet</li><li>Nassim Nicholas Taleb, Former Trader, Risk Specialist and Best-Selling Author</li><li>Özgür Burak Akkol, Chairman of the Board, President of the Turkish Employers' Association of Metal Industries (MESS)</li><li>Seiko Noda, Chairperson of the Committee on Budget, Member of the House of Representatives</li><li>Takuya Miyata, Founding Partner, Scrum Ventures</li><li>Werner Baumann, Chairman of the Board Management, Bayer AG</li><li>Boyan Slat, CEO and Founder, The Ocean Cleanup</li><li>Panos Panay, Microsoft Chief Product Officer</li><li>Shin Murakami, Japan Country Manager, LinkedIn</li><li>Nick Bloom, Professor of economics, Stanford University</li><li>Keiko Hamada, Executive Editor-in-Chief, Business Insider Japan</li><li>Niklas Östberg, Co-Founder and CEO, Delivery Hero</li><li>Shada Islam, New Horizons Project</li><li>Philipp Peitsch, Managing Director, Idealo</li><li>Mark T. Maybury, CTO, Stanley Black &amp; Decker</li><li>Markus Duesmann, CEO, AUDI</li><li>Claudia Kessler, Visionary Founder Space Ambassador, CEO Astronautin GmbH</li><li>Ester Asin, Director for WWF's European Policy Office</li><li>Brunon Bartkiewicz, CEO, ING Bank Śląski, Poland</li><li>Marcin Lewenstein, InnoEnergy Innovation Officer, Thematic Field Leader-Energy for Circular Economy</li><li>Richard Mosley, Employer Brand Author and Chief Strategist, Universum</li><li>Tom Hidvegi, Creative Strategy Director for Coca-Cola, Central and Eastern Europe</li><li>Dariusz Mazurkiewicz, President of the Management Board, BLIK</li><li>Anna Brussa, Design Partner, EIT Climate-KIC</li><li>Lee Olesky, CEO, Tradeweb <keyword id="31671" type="CITY" weightage="60" keywordseo="markets">Markets</keyword> Inc.</li><li>Dorian Gorr, Co-founder, Veritas Entertainment</li><li>Stav Erez, Partner, Labs/O2</li><li>Filip Thon, CEO, Innogy Polska S.A.</li><li>Beata Mońka, Business Partner, Business Partnering Solutions, Ringier Axel Springer Polska</li><li>Satoshi Sugie, CEO, WHILL Inc.</li><li>Hiltrud Dorothea Werner, Member of the Board of management of Volkswagen AG for Integrity and Legal Affairs</li><li>Ugur Sahin, Co-founder, BioNTech</li><li>Romanus Otte, Editor in Chief and Managing Director, Business Insider Deutschland GmbH</li><li>Inga Michler, Journalist, Writer</li><li>Leonard Stiegeler, Founder of Pulse</li><li>Sohn Young, Corporate President and Chief Strategy Officer, Samsung Electronics, and Chairman of the Board for HARMAN</li><li>Phil Graves, Vice President, Corporate Development at Patagonia</li><li>Maximillian Jell, Head of Regulatory Affairs and Reduced Risk Products</li><li>Lukas Stricker, CEO of Gravity Global AG</li><li>Nikolay Kolev, Managing Director of WeWork</li><li>Brian Brackeen, General Partner, Lightship Capital</li><li>Lyinoluwa Aboyeji, General Partner oand Co-founder of Future Africa</li><li>Stuart Kronauge, Chief Marketing Officer at Beyond Meat</li><li>Manny Maceda, Worldwide Managing Partner of Bain &amp; Company</li><li>Krijn de Nood, CEO and co-founder, Meatable</li><li>Carlos Nueno, President International, Teladoc Health</li><li>Marek Andryszak, CEO, TUI Deutschland</li></ul>

Announcing BI Global Trends Festival 2020 speakers: Don't miss Reed Hastings, Carlos Watson, Nouriel Roubini, Jennifer Jordan, and more!

The <a href="http://www.businessinsider.in/searchresult.cms?query=US+India+ties&amp;sortorder=effectivedate">US</a> made few necessary and important changes in its <a href="http://www.businessinsider.in/searchresult.cms?query=export+control+laws&amp;sortorder=effectivedate">export control laws </a>and recognising India as a 'Major Defence Partner'. 
 
This is going to benefit India immensely by facilitating smoother transfer of technologies and arms to it. 
 
The new rule that makes necessary changes in the export control laws "creates a presumption of approval" for Indian companies seeking to import Commerce Department-controlled <a href="http://www.businessinsider.in/searchresult.cms?query=military+items&amp;sortorder=effectivedate">military items</a>, except Weapons of Mass Destruction-related goods. 
 
This means that only under the rarest circumstances will India be denied licenses, a source familiar with the changes said. 
 
"I'm pleased to see India's status as a 'Major Defence Partner' a designation that we have strongly supported be translated into tangible regulatory reform," said Mukesh Aghi, president of US India Business Council (USIBC). 
 
The new rule also amends the law so that companies will not need a license at all after becoming a Validated End User (VEU). 
 
"Indian and US companies operating in India can seek VEU status for both civil and military manufacturing, and by doing so not need to obtain individual licenses. This makes it far more convenient to build a global supply chain and react quickly to changing market conditions," explained Benjamin Schwartz, USIBC's Director for Defence and Aerospace. 
 
Over 810 licenses representing some USD 5 billion in trade in the last half decade have been granted for goods covered under this new rule. 
 
"This is a very favourable policy for Indian companies. The rule will make business substantially easier for Indian companies in the defence sector, especially those partnering with American companies. This gives Indian companies and US companies operating in India the ability to be reactive in real time to meet their supply chain needs," Schwartz said.

US just made changes to its export control laws and this is going to benefit India to build military items

<keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> veteran <keyword id="1513431" type="UNKNOWN" weightage="100" keywordseo="Sanjay-Jalona">Sanjay Jalona</keyword> has quit from his position as executive vice president and is likely to join <keyword id="6354919" type="CITY" weightage="100" keywordseo="LT">L&amp;T</keyword> Infotech as chief executive. 
 
His exit from the company is first top-level departure from Infosys. BPO head Gautam Thakkar had resigned after <a href="http://www.businessinsider.in/searchresult.cms?query=infosys">Infosys</a> found that the unit had overbilled <a href="http://www.businessinsider.in/searchresult.cms?query=Apple">Apple</a>, one of Infosys's largest customers. 
 
Jalona's resignation also comes at a time when Infosys <a href="http://www.businessinsider.in/searchresult.cms?query=vishal+sikka">CEO Vishal Sikka</a> is trying to position the company as a next-generational services firm. 
 
Jalona, as head of manufacturing, was overseeing over $2 billion of annual business. 
 
Meanwhile, <a href="http://www.businessinsider.in/searchresult.cms?query=larsen+%26+Toubro">L&amp;T</a> Infotech was looking for a CEO as chief executives Vivek Chopra and Mukesh Aghi left the company in October last year. 
Presently, Jalona is on notice period at Infosys. 
 
(Image: Indiatimes)

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Silicon Valley sees better investment opportunity in India with PM Modi's visit

BI India Bureau

The economy is back on track, says Venkaiah Naidu

BI India Bureau

Infosys CEO Salil Parekh joins USISPF Board

PTI

Biden made an inspired choice by nominating Banga says Indian Americans

PTI

Budget 2022: US companies look at tax parity, transparency, predictability

PTI

COVID-19 crisis has given India best chance to attract foreign companies: USISPF

PTI

Announcing BI Global Trends Festival 2020 speakers: Don't miss Reed Hastings, Carlos Watson, Nouriel Roubini, Jennifer Jordan, and more!

Business Insider

US just made changes to its export control laws and this is going to benefit India to build military items

BI India Bureau

After 15 years, Sanjay Jalona quits Infosys

BI India Bureau

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