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<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

Ahead of the annual budget presentation, an India-centric top US strategic and business advocacy group has urged Union Finance Minister <keyword id="129243" type="General" weightage="50" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> to simplify and rationalise direct and indirect taxation system in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>, a move it believes would increase the confidence of global investors and yield greater foreign direct investment. Direct taxes can be in the form of income tax, capital gains tax or securities transaction tax, while indirect taxes such as GST, Customs Duty or VAT are levied on all end-consumers to buy any goods or services. "Rationalise corporate tax rates for foreign companies," said the US-India Strategic and Partnership Forum (<keyword id="4839889" type="General" weightage="80" keywordseo="usispf" source="Orion">USISPF</keyword>) in its submission to the finance ministry ahead of the annual budget presentations on February 1. It said that the rate for foreign companies, including banks be reduced to bring parity and sought to rationalise tax for new manufacturing companies. <keyword id="16275339" type="General" weightage="50" keywordseo="urging-india" source="Orion">Urging India</keyword> to simplify capital gain tax reforms, USISPF sought harmonising holding periods and rates of different instruments. "Reiterate India's commitment to the global tax deal," it said and urged the Union Finance Minister to extend the concessional tax regime to Foreign Portfolio Investment (FPI) from investment in securities. USISPF has also suggested tax incentives to specific sectors like renewable energy and R&amp;D investment in the health sector. Among the Forum's recommendations include advocating for a stable and predictable tax environment, improving the ease of doing business environment, rationalisation of the cost of doing business, and rationalisation of tax rates and tariffs. On indirect taxes, the USISPF sought clarification on customs duty exemptions provided to oil and natural gas companies, reduction in customs duty rates for x-ray machines from 10 per cent to 7.5 per cent and providing customs duty exemption on all items imported by specified research and development units. USISPF urged the finance minister to roll back the customs duty increase on nutritional products considering the importance and significance of the product and encourage the availability of scientifically designed nutritional food in India. Among its recommendations on customs tariffs and duties and customs, processes include addressing ambiguities in the customs tariff act on telecom products, an extension of concessional customs duty to advanced biofuel projects and strengthening the process on the ground with respect to trade facilitation schemes like CAROTAR and Faceless Assessment. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/adani-group-companies-lose-3-22-lakh-crore-in-market-value-amidst-tussle-with-hindenburg-research/articleshow/97374612.cms">Adani Group companies lose ₹3.22 lakh crore in market value amidst tussle with Hindenburg Research</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-enterprises-20000-crore-fpo-now-open-analysts-maintain-cautious-optimism/articleshow/97369358.cms">Adani Enterprises’ ₹20,000 crore FPO now open, analysts maintain cautious optimism</a> <a href="https://www.businessinsider.in/business/corporates/news/tata-motors-in-top-gear-reports-net-profit-of-2958-crore-in-q3-its-first-after-seven-quarters/articleshow/97319081.cms">Tata Motors In Top Gear: Reports net profit of ₹2,958 crore in Q3, its first after seven quarters</a>

US industry urges FM to rationalise, simplify direct and indirect taxes in India

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

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

<keyword id="6358032" type="General" weightage="100" keywordseo="spicejet" source="Orion">SpiceJet</keyword> CEO <keyword id="6357826" type="General" weightage="80" keywordseo="ajay-singh" source="Orion">Ajay Singh</keyword> on Thursday said there is a need for "more rational airfares" in the country even as he tried to assuage concerns of a hike in airfares as a consequence of competitor Go First filing for voluntary insolvency by terming it a "temporary phenomena". He termed the Go First development as "extremely unfortunate" and expressed hope that the airline can use this opportunity to resolve their issues. Asked about concerns on hike in airfares as a consequence of competitor Go First filing for voluntary insolvency, the SpiceJet chief said: "Those are temporary phenomena". "Of course when there is a mismatch of supply and demand, airfares will go up but this settles quite nicely as you would have seen the last time an airline went down there was a temporary period of mismatch and the capacity came into the system and fares were back to normal," Singh said. He further said that while the era of low airfares has helped in boosting air travel in this country, sometimes it has also led to difficulties for airlines as is evident for all to see. He observed that more rational airfares are required in the country and hoped that the fares will be more rational in the times to come. Speaking to reporters on the sidelines of an Assocham event, Singh, who is also the President of the industry body, said it was "Not at all likely" that the aviation sector will be affected by one airline going down. "You will see that the number as on April 30, we had 4,50,000 people who travelled by air, that was a record number. At no time in the past has <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> seen such a record number of people travelling by air and you will see the numbers bounce back really really quickly," he said. Asked how he looks at the development in the aviation sector (of an airline going down), he said: "It is of course extremely unfortunate but hopefully Go First can use this opportunity to resolve their issues and the sector at large can use this opportunity to resolve their issues and emerge even stronger". On SpiceJet's plan to add 25 aircraft to its fleet, he said: "During <keyword id="8764262" type="General" weightage="50" keywordseo="covid" source="Orion">Covid</keyword>, several of our aircraft had gone down and with increase in demand, we want to revive all those aircraft and there are so many small stations that have been left unconnected or less connected as a consequence of the problems that occurred during Covid. We hope to bring back all those flights and increase frequency to several destinations around the world". Budget carrier SpiceJet on Wednesday said it is working to revive 25 grounded planes and has so far mobilised Rs 400 crore for revival of these aircraft. The announcement came a day after competitor Go First filed for voluntary insolvency resolution proceedings and decided to cancel flights for three days starting May 3. In a statement, SpiceJet said funds for the revival of the 25 aircraft will be drawn from the government's Emergency <keyword id="9331772" type="General" weightage="50" keywordseo="credit-line-guarantee-scheme" source="Orion">Credit Line Guarantee Scheme</keyword> (ECLGS) and better cash accruals. The airline has around 80 planes in its fleet and is looking to revive 25 grounded Boeing 737 and Q400 aircraft. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/ajay-banga-as-world-bank-president-adds-to-success-stories-of-the-indian-americans-usispf/articleshow/99984193.cms">Ajay Banga as World Bank President adds to success stories of the Indian Americans: USISPF</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/arcelormittal-q1-net-income-falls-over-73-to-usd-1096-mn/articleshow/99983996.cms">ArcelorMittal Q1 net income falls over 73% to USD 1,096 mn</a>

Rise in airfares due to Go First's bankruptcy is temporary says SpiceJet CEO

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

<ul><li>Regulators in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> are mostly talking about cryptocurrencies and NFTs, but a lot more has to be done.</li><li>Countries like the US, UK, Canada have tweaked existing laws to accommodate <keyword id="2721952" type="General" weightage="20" keywordseo="crypto" source="Orion">crypto</keyword> and web3.</li><li>Web3 founders in the country are already leaving India.</li></ul>Despite being in the works for over two years, India’s crypto regulations are barely scratching the surface for what the third generation of the Internet, or web3, will need. According to experts, India’s regulators should follow global examples set by countries like the US and the European Union (EU); to effectively regulate cryptocurrencies and web3 projects in the country. <keyword id="2715428" type="General" weightage="20" keywordseo="ajeet-khurana" source="Orion">Ajeet Khurana</keyword>, a noted crypto advisor, believes that three main ways have been explored globally. At a <a href="https://twitter.com/BiIndia/status/1506637849864462341?s=20&amp;t=Fq8EyE7kSnB6W8lgcw_Jrg">Twitter Spaces </a>conversation held by Business Insider India, Khurana said that coming up with an overarching crypto bill may not be the only route the country can take. He also noted that India has already followed examples set by countries like the US, Australia, UK, Canada, and Singapore, which has tweaked existing regulations to accommodate cryptocurrencies. <div type="twitter" handle="BiIndia" handlename="Business Insider India🇮🇳" image="http://pbs.twimg.com/profile_images/1232926719016718336/sfffJHNV_normal.jpg" favoritecount="11" retweetcount="6" status=".@AjeetK, @tamarincrypto and @Aritra_7 of @WazirXIndia take a closer look at the different ways web 3.0 is redefini… https://t.co/hQt4WZGQ2O" createdat="1648045430000" id="1506637849864462341"></div> At the Union Budget 2022 last month, finance minister <keyword id="129243" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> brought crypto trading under the ambit of existing taxation rules in India instead of announcing a full-fledged crypto bill, which has been in the works for the past year or so. <div type="ExtQuote" text="So, if we could tweak our SEBI Act, RBI Act, FEMA, and a few others…frankly, we are a fully regulated country, and I think that may be the best way to go because large economies around the world have done that." auname="Ajeet Khurana, Crypto Expert, told Business Insider."></div><cmsannotation type="cmsannotation" annotationid="The need to recognise the potential of web 3.0" comment="subhead" text="The need to recognise the potential of web 3.0">The need to recognise the potential of <keyword id="692030" type="General" weightage="20" keywordseo="web-3-0" source="Orion">web 3.0</keyword></cmsannotation> Aritra Sarkhel, Director of Public Policy at <keyword id="6672551" type="General" weightage="20" keywordseo="wazirx" source="Orion">WazirX</keyword>, leading crypto exchange in the country, added that different government departments are still unclear on how they will deal with the industry. He noted that various government departments have different versions, and the conversation has moved from being about crypto only to non-fungible tokens (NFTs). However, lawmakers seem to have failed to recognize the complete scope that web3 has. <cmsannotation type="cmsannotation" annotationid="wazirx" comment="wazirx" text="wazirx">wazirx</cmsannotation> According to Tamar Menteshashvili – who leads ecosystem growth at Solana Labs, which runs the Solana platform – many web3 company founders from India have been moving to Dubai recently, which is a “strong signal” that “something is not going as well as it should be”. <div type="ExtQuote" text="Taking the example of more crypto-friendly regulations and understanding the opportunity that web3 is bringing to the country is super important while thinking about the policy." auname="Tamar Menteshashvili, Ecosystem Growth at Solana Labs told Business Insider."></div> India is one of the fastest-growing internet consumer markets and has one of the most flourishing pools of start-ups and developers across the world. Web 3.0 is the next internet revolution and has been gaining ground steadily. In fact, a report from the US India Strategic Partnership Forum (USISPF) and Cross Tower stated that Web 3.0 and digital assets could add $1.1 trillion to India’s GDP over the next decade. Sarkhel said that the industry needs clarity around regulations so that 18-19-year-old founders don’t get confused and move out of the country to avoid future repercussions. “Basically, you don’t want another brain drain to happen. Let’s build together,” he told Business Insider during the Twitter Spaces session. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/cypher-capital-launches-100-million-blockchain-fund-with-an-aim-to-invest-40-of-it-in-crypto-startups-in-india/articleshow/90400157.cms">Cypher Capital launches $100 million blockchain fund, with an aim to invest 40% of it in crypto startups in India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/patanjalis-ruchi-soya-will-go-for-fpo-tomorrow-check-out-price-band-gmp-and-other-information-you-need-to-know/articleshow/90394179.cms">Ruchi Soya’s FPO opens tomorrow — price band, GMP and more</a>

India’s crypto regulations don’t recognize the full scope of web3, say experts

In a show of solidarity, CEOs of some 40 top American companies have come together to create a <keyword id="5231964" type="ORGANIZATION" weightage="20" keywordseo="Global-Task-Force">global task force</keyword> to mobilise resources to help <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> fight the battle against <keyword id="8763838" type="UNKNOWN" weightage="20" keywordseo="covid-19">COVID-19</keyword>. A collective initiative of the US-India Business Council of the US Chambers of Commerce, and the US-India Strategic and Partnership Forum and Business Roundtable, the task force during its meeting here on Monday committed to get 20,000 <keyword id="9323420" type="UNKNOWN" weightage="20" keywordseo="oxygen-concentrators">oxygen concentrators</keyword> to India in the next few weeks, <keyword id="6358918" type="COMPANY" weightage="20" keywordseo="deloitte">Deloitte</keyword> CEO Puneet Renjen told PTI. The new US public-private partnership to provide India critical medical supplies, vaccines, oxygen and other life-saving assistance amid an unprecedented surge in coronavirus cases is called the Global Task Force on Pandemic Response: Mobilizing for India. The first-of-its-kind country-specific global task force to address a public health crisis in another country was addressed by US Secretary of State Tony Blinken. The conversation showed how the United States and India can leverage the expertise and capabilities of the US private sector towards solutions for India's COVID-19 crisis, Blinken said in a tweet. "A number of American companies have come together over the weekend. We are focused on doing our very best to help in any way that we possibly can. As the prime minister said, we were very confident, our spirits were up after successfully tackling the first wave, but this storm has shaken the nation. It is up to us to help in any way possible," Renjen said in response to a question. Observing that the first issue is around oxygen and its concentrators, Renjen said they have commitments to get 20,000 oxygen concentrators to India in the next few weeks. The first 1,000 will arrive in the middle of this week, he said, adding that by May 5, they expect another 11,000 oxygen concentrators to reach the country. "Our goal is to get 25,000, and maybe even a number higher than that," he added. The second issue is to look at oxygen cylinders with 10-litre and 45-litre capacity and to get <keyword id="11162015" type="UNKNOWN" weightage="20" keywordseo="other-supplies">other supplies</keyword> like monitoring kits, Renjen said. "I am very pleased with the fact that these companies have come together. We're working with the USISPF, as well as the USIBC and with the Business Roundtable to coordinate this effort to help India in any way that that is required, he said. Welcoming the call between Prime Minister Narendra Modi and President Joe Biden and the decision of the US to urgently send supplies to India, the Deloitte CEO reiterated that the two countries are natural allies. "I'm very heartened by the fact that the US government is going to step up and do its part," he said. The fight against COVID-19 is personal for him. Several family members of Renjen, who comes from Rohtak in India's Haryana, have contracted the disease. Around 2,000 of Deloitte's employees in India have been infected, he said. "We are facilitating individuals getting the vaccines. We are providing them medical assistance, home testing kits. This is being consistently done by all entities that have big footprints in India. That is really important to do," Renjen said. "We will do everything on our part to take care of our employees, like I believe every one of the multinationals that were on the call with me are committed to doing. But they have really stepped up," he said. "This is a real kudos to Indian talent," Renjen said. The task force also comprises representations from retail sector, e-commerce, pharmaceutical, technology industry and large manufacturing entities. "This global crisis requires a global response, and the American business community could not be better positioned, or more determined, to help lead the way, said Suzanne Clark, president and chief executive officer of the US Chamber of Commerce. It was wonderful to see everybody focused on making sure that they do their part, that they contribute. Out of that discussion, the first step that we came up with was these oxygen concentrators, Renjen said. Our point to the US government is to provide assistance (to India), wherever it's requested, he added. These US companies are coordinating with the Indian Ambassador to the US, Taranjit Singh Sandhu. Earlier in the week, he gave us the list of items that are of critical need, Renjen said. The list includes oxygen concentrators, oxygen generators, two critical medicines that he wanted to see if the US government can release, monitoring kits, and encouraging the US government to ease supply of critical materials for vaccines. Responding to a question, Renjen exuded confidence that India would overcome this. This too shall pass. I am very confident in my Indian brothers and sisters; we will overcome this, he said. I don't think we need to panic. We listen to the scientists and listen to the people that are managing this in the country. I think we just have to navigate through it. We will have two or three weeks of very difficult times. "It is a tragic situation, particularly for people that have <keyword id="8764262" type="COMPANY" weightage="20" keywordseo="covid">COVID</keyword> or who have lost loved ones. My heart goes out to them, but we are going to do our part, Renjen said. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/sundar-pichai-and-satya-nadella-will-use-google-and-microsoft-resources-and-technology-to-support-india-during-the-covid19-crisis/articleshow/82253126.cms">From Sundar Pichai to Satya Nadella – Indian-Americans wake up to the COVID-19 crisis at home</a> <a href="https://www.businessinsider.in/science/health/news/covid-19-what-is-proning-and-how-can-it-help-you-increase-oxygen-levels-at-home/articleshow/82251671.cms">COVID-19 – What is proning and how can it help you increase oxygen levels at home</a> <a href="https://www.businessinsider.in/business/startups/news/upgrad-gets-its-first-external-funding-from-singapore-based-temasek/articleshow/82253861.cms">Edtech startup upGrad gets its first external funding – a $120 million cheque from Temasek</a> <a href="https://www.businessinsider.in/science/health/news/maharashtra-kerala-and-chhattisgarh-states-are-on-top-covid-19-positivity-rate-in-india/articleshow/82254421.cms">COVID-19: These are the five states in India with the highest positivity rates</a>

About 40 chief executives of US companies come together to create global task force to help India combat COVID-19

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>

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Infosys CEO Salil Parekh joins USISPF Board

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About 40 chief executives of US companies come together to create global task force to help India combat COVID-19

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