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Indian Consulate General in Chicago hosts “Make in India” seminar

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Pic 4Chicago: The Consulate General of India hosted an Executive Seminar on ”’Make in India Week” on Wednesday. The International Business Council, Illinois Chamber of Commerce were the host partners of the seminar.

Over hundred eminent business persons and entrepreneurs attended the event. These businessman and entrepreneurs are working in different sectors of economy in the US–Midwest, besides senior officials of the State of Illinois, World Business Chicago, Sister City International, Illinois Biotechnology Industry Organization (iBIO), The Chicago Council on Global Affairs, Illinois Chamber of Commerce, US-India Business Council (USIBC), US-India Chamber of Commerce and the Kellogg School of Management.

The main speakers at the event were Dr Ausaf Sayeed, Consul General of India; Mr Hardik Bhatt, Chief Information Officer, State of Illinois; Ms Amy Hariani, Director & Legal Policy Counsel, US-India Business Council, Mr Kishen Kavikondala, President, SK International, Mr Tom L Kelly, Director of Government Affairs, Clark Hill PLC, Ms Poonam Gupta-Krishnan, Founder of Iyka Enterprises and Mr Brad Perine, Vice President of Marketing, Esayfe.

Consul General Dr Ausaf Sayeed made a power presentation on “Make in India Week”. Through which he highlighted the robust health of Indian economy.  He pointed out that IMF in its World Economic Outlook (WEO) sees India as the world’s fastest growing economy in 2016-17 with GDP growth of 7.5%. India continues to be the

India has maintained its status as the Top Global Destination for FDI with 32% of investors termed India as the Most Attractive Market last year while other 60% placing it among the top 3 investment destinations.

He mentioned that investors consider India as one of the most open economies in the world allowing 100% FDI in most of the sectors of its economy.

He talked about Prime Minister Narendra Modi’s goal of, ”Reform to Transform” which aims to make India the easiest and simplest place to do business by eliminating paperwork and easing out old cumbersome procedures.

The Consul General said that ”Make in India” is the premier initiative of Indian Government. It targets at transforming the Indian economy from the services-driven growth to intensive manufacturing driven growth. It will not only increase productivity but also will promote India as an international manufacturing hub.

He talked about the 30 key economic sectors where MNCs can set up the manufacturing base in India. He added that India’s manufacturing sector offers one trillion US dollars of economic opportunity.

He specifically mentioned the synergy between Indian states and those in the US Midwest. He said this synergy could be utilized to boost the manufacturing sectors in both countries. A promotional film on “Make in India” was also shown as part of the presentation.

Mr Hardik Bhatt, Chief Information Officer of the State of Illinois, asserted that Illinois is one of most important business partners of India. He said Illinois is the leader in the field education, global connection, and innovative ecosystem and it has a desire to collaborate with India in the initiative of developing the smart cities. He cited his recent useful interactions with high-level trade missions who had come from high Andhra Pradesh and Karnataka.

Ms Amy Hariani, Director and Legal Policy Counsel, US-India Business Council (USIBC) commended Modi government. He said that the government made constant progress to deliver on its election promises of economic reforms.

He said the allowing FDI in several sector more freely, removal of red tape, the arrival of transparent tax environment and the intellectual property regime’s improvement have sent the message to all the investors that India is ready and open for serious business.

He said these efforts are also visible in India’s rise in the World Bank’s, ”Ease of Doing Business Index”. She added the US enterprises are also committed to the ”Make In India” program in many areas such as defense, health, power generation, media, entertainment, and technology and there is potential to do more.

Mr Tom Kelly, Director of Government Affairs in Clark Hill’s Washington DC office and Mr Kishen Kavikondala, President SK International held a joint presentation focused on introducing the American skilled training model to the Indian students.

Ms Poonam Gupta, Founder, and CEO of Iyka Enterprises, Inc, gave a presentation on simplifying technology for the manufacturing industry and customizable data management solutions to a specific, targeted market.

Mr Brad Perine, Vice President of Marketing of M/S Esayfe gave a presentation on software security applications to protect and secure sensitive data, while expressing their company’s interest in supporting the ‘Make in India’ initiative.

The Consulate General of India, Chicago has since mobilized four major business delegations — one each from the States of Minnesota, Illinois, Michigan and Missouri to participate in “Make in India Week”, scheduled in Mumbai from February 13-18, 2016.

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Richard Thaler Supported Demonetisation, there is More to the Story

Demonetisation is what Richard Thaler had long supported. However, he remarked "Really? Damn," when he was informed about the introduction of Rs. 2,000 notes in place of the discontinued Rs. 500 and 1,000 notes thereby highlighting how his joy of seeing a step towards a cashless economy and reduction of corruption was momentary.

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Richard Thaler
Richard Thaler won the Nobel Prize in Economic Sciences on 9th October.Wikimedia

When Prime Minister Narendra Modi decided to scrape Rs 500 and Rs 1,000 notes last November, Nobel Prize winner Richard Thaler supported demonetization describing it as a policy that he had long supported.

Dr. Richard Thaler, a Professor of Economics and Behavioural Science at the University of Chicago won the Nobel Prize in Economic Sciences on 9th October.

Did Richard Thaler really support demonetization in the way BJP took it? There is more to the story than what meets the eye.

As soon as Thaler was declared the Nobel Prize winner, members of the Bharatiya Janata Party (BJP) started sharing Thaler’s tweet regarding demonetization on social media affirming that the move which was severely criticised by the members of the opposition was actually supported by a Nobel Prize winner. The BJP IT cell head Amit Malviya retweeted the old tweet within a fraction of a second.

However, Richard Thaler remarked “Really? Damn,” when he was informed about the introduction of Rs. 2,000 notes in place of the discontinued Rs. 500 and 1,000 note thereby highlighting how his joy of seeing a step towards a cashless economy and reduction of corruption was momentary.

It was not only the BJP supporters but also a large number of BJP leaders who were flowed away with incomplete picture depicted by Malviya and tweeted about it.‬ This included Union Minister Giriraj Singh, former BJP IT Cell Head Arvind Gupta, and many others.

Soon after, twitterati realized that the full picture of Thaler’s statement on demonetization was rather hidden.

Prime Minister Modi declared that the motivation behind scrapping Rs 500 and Rs 1,000 notes was to promote cashless economy and reduce corruption. This decision was severely criticised by different sections of the society putting on Modi the ultimate responsibility for heralding economic deceleration. Demonetisation pulled down India’s GDP growth rate to a mere 6.1% in 2016-17.

Some highlighted that the introduction of Rs 2000 note was an ephemeral panacea for remonetization and that its printing has been terminated.

-Prepared by Mohima Haque of NewsGram, Twitter: mohimahaque26

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PM Narendra Modi: Don’t believe in vote bank politics, Nation comes first

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Prime Minister Narendra Modi.
Prime Minister Narendra Modi. Wikimedia

Varanasi, Sep 23: Prime Minister Narendra Modi, on Saturday, said that the BJP did not believe in vote bank politics as the country was above party politics. This is his second day of the visit to his parliamentary constituency in Varanasi.

Modi told a gathering that he had launched a major war against corruption and the corrupt to ease the life of the common man. He also said cleanliness was worship for him as it could rid the poor of various diseases and a lot of economic burdens.

“Governance for us is not about votes or winning elections. The priority is the development of the nation. For us, the country is bigger than party,” he said, in his address to farmers in Shahanshahpur on the outskirts of Varanasi.

He said most of the problems faced by the common people in India were rooted in corruption.

“I have launched a war against it and will take it further to ensure that graft is weeded out from the country.”(IANS)

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Actress Aparna Sen to attend 8th Chicago South Asian Film Festival

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Legendary Indian film actor and Padma Shri awardee Aparna Sen will be in Chicago this week. She is synonymous with bringing Bengali cinema closer to the masses not just in India but globally too finds an artistic proximity to Chicago. She says that the architecture of the city reminds her of a studio set from a movie.

Currently in the US, Sen has been having a very hectic schedule as her latest directorial venture, Sonata, is all set to be screened at film festivals in the US.

Amidst her busy schedule Aparna Sen takes out some time to talk to
Hi India! about her creative pursuits, the scope of regional Indian cinema in the US and of course about her love for museums and eateries in Chicago

“I have been to Chicago twice before this, and I’ve enjoyed the city hugely both times. I particularly like the downtown area with its interesting art deco architecture, its museums and eateries.” – Aparna Sen

Sen who has also directed critically acclaimed films such as 36 Chowringee Lane, that won her Best Director Award at the Indian National Film Awards is looking forward to the screening of her recent directorial film Sonata in America

Aparna Sen will be in the city to attend the 8th edition of Chicago South Asian Film Festival and is appreciative of the interest alternate Indian films have been creating in the US.

(IANS)