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

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 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

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 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
Special Address:
11:40-12:00
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

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 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:

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 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?

Coffee Break
15:55-16:15 Foyer of Empire Ballroom, Salon 3

16:15-16:35 Keynote Address: India’s Disinvestment Programme – Lessons Learned

Empire Ballroom, Salon 3

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 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

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 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

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 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

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 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.

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 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

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 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 Luncheon :

Followed by
12.30 – 1.30
Conversation Panel

Marshall Bouton
President
Chicago Council on Global Affairs

With

P.K Chaudhery,
Chief Secretary
Government of Haryana, India

RV Kanoria

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 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

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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

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