INDEX. Page No. Chairman s Message. U.S. Consul General s Message. Chamber Events. Welcome to New Members. U.S. Business Visas.

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2 INDEX Sl No. Contents Page No 1 Chairman s Message 3 2 U.S. Consul General s Message 4 3 Chamber Events 6 4 Welcome to New Members 8 5 U.S. Business Visas 9 6 EB-5 Visas 10 7 INDO - U.S Trade News 12 8 Trade Shows in U.S.A (Apr - Sep 2014) 13 9 Trade Enquiries from Indian companies IACC in News 14

3 Message From Chairman's Desk Dear Fellow-members, I wish to extend my warm New Year &Pongal greetings to all of you. This being the first issue of the e- newsletter from the branch for the activities , I would like to share some of my thoughts about the initiatives/actives of the Tamil Nadu Branch in this edition. th To begin with, we celebrated the IACC's 45 Foundation Day on October 24, 2013 at the office premises. I wish to thank Mr. James Golsen, Principal Commercial Officer who agreed to join us in our celebrations. In the last 3 months, other events organised with the support of the U.S. Commercial Services include the luncheon meeting with the U.S. Consul General at Coimbatore, luncheon meeting with the Minister Counsellor for Commercial Affairs, U.S. Embassy. The guidance sessions on U.S. visas and the round table discussion on Cyber Security program provided a great insight on the topics to the members who participated. As you are aware, the breakfast meeting Meet Success First Hand was a run-away success since it was started in With a view to expand the horizon of the event, along with the Entrepreneurs' we are now presenting to you the Leaders from different sectors who will share their 'experience to success' with our members. This new series was titled as Listen to the Leader and was initiated on Dec 10, 2013 with Mr. Lakshmi Narayanan, Vice-Chairman, Cognizant Technology Solutions as our Inaugural speaker. I hope that you will continue to participate and learn from this highly motivational and stimulating session. I invite through this edition of this e-newsletter all members to take part in our upcoming Members' Networking Nite to be held on January 17, 2014 at Chennai. I am sure this will be an excellent platform to exchange ideas, share common goals and perspectives which will help to improve your business relations. Apart from conducting the above mentioned events, this year we are planning to take an outbound delegation to USA in July/August Please share your inputs, if any to the Secretariat by sujatha@iaccindia.com. I look forward to your valuable inputs to make this delegation more efficient and beneficial for the Indian companies. Having said all the above, I would like to thank everyone for their contribution inthe year 2013, through membership, participation at events, active involvement in sub- committees and thebranch committee. Any feedback or suggestions to improve this newsletter is greatly appreciated. See you all in ourforthcoming events. Yours Truly, C. Suresh Reddy Chairman 3

4 U.S Consul General's Message Dear Members of the Indo-American Chamber of Commerce, Season's Greetings! The U.S. Consulate and IACC enjoyed another outstanding year partnering on collaborative initiatives and events. Together, we co-hosted informative programs in 2013, to include a round table discussion on Rethinking Marketing: The Entrepreneurial Imperative led by U.S. speaker Dr. Minet Schindehutte, and a lecture on cyber security by visiting U.S. expert Larry Clinton. We also joined IACC's Tamil Nadu office in celebrating its Foundation Day. I was delighted to have the opportunity to personally meet with IACC's Coimbatore and Bangalore members this fall. The U.S. Consulate also thanks IACC for arranging multiple visa presentations by our consular officers throughout the year in Chennai, Coimbatore, Trivandrum, Kochi, Palghat, and Bangalore. And our newly arrived Minister Counselor for Commercial Affairs John McCaslin's greatly enjoyed meeting IACC members on his first visits to Bangalore and Chennai, to include witnessing a signing ceremony between an IACC member and a U.S. company. We are all looking forward to our next events with IACC in 2014! IACC is an integral partner in our mutual goal to increase U.S.-India trade and investment and in 2012, India became the U.S.'s 13th largest partner for total trade. We look forward to continuing to work with IACC to bring this ranking to a single digit! Our U.S. Commercial Service colleagues are eager to assist your businesses and can help in the following ways: 1. Identifying Investment Opportunities in the United States Our SelectUSA ( initiative showcases the United States as the world's premier business location and provides easy access to federal-level programs and services related to business investment. SelectUSA seeks to highlight the many advantages the United States offers for business and investment. A recent highlight of this initiative was the President Obama led SelectUSA Investment Summit in Washington D.C. on October 31 November 1. Over 1200 investors from 60 countries attended the Summit, including 42 Indian companies. You can hear President Obama's remarks at the summit on the following link: 4

5 2. Trade Promotion through Business Matchmaking The U.S. Commercial Service in India connects Indian companies with the right U.S. opportunities and wewill work with you to find additional business opportunities with U.S. firms. Through the International Buyer Program (IBP), we can take you to major U.S. industry trade shows to meet pre-screened U.S. suppliers. You can access the 2014 industry shows at the following link: 3. Obtaining Trade Finance The U.S. Commercial Service works with the U.S. Trade Development Agency (USTDA), U.S. Export Import (Ex-Im) Bank, Overseas Private Investment Corporation (OPIC) and U.S. and local banks, through a unique network that helps Indian firms obtain competitive trade and project finance to grow their business. Some of the U.S. delegations and programs the Commercial Service team in South India willhost this spring are: Select USA Roadshow in Bangalore, April 7-11, 2014 Automotive Trade Mission in Chennai, April 21-25, 2014 Dental Trade Mission in Bangalore, April 28 May 2, 2014 Please contact the Commercial Service office if you or your company representatives are interested in meeting with these delegations, in connecting with U.S. suppliers, and/or in obtaining general information about investing in the United States. To find out more on other shows in the United States, trade events and our Consulate events, please visit our Consulate website the U.S. Commercial Service website I wish IACC and all the members a very Happy 2014! Sincerely, Jennifer McIntyre U.S. Consul General in Chennai 5

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7 November 22, 2013: Roundtable discussion with Mr. Harry Clinton, President & CEO, Internet Security Alliance, USA on Cyber Security, Chennai Mr. Larry Clinton answering a query from the audience. Also seen (L-R) Ms. Shanna Surendra, Cultural Affairs Officer, U.S. Consul General in Chennai and Mr. C. Suresh Reddy, Chairman, IACC November 23, 2013: Colloquium on Forex Risk Management, Chennai: Speaker Ms. Deepa Aggarwal addressing the gathering A section of the delegates at the event December 10, 2013: Breakfast Mee ng-listen to the Leader, Chennai: Mr. Lakshmi Narayanan, Vice-Chairman, Cognizant Technology Solutions sharing his success story with members 7

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9 The H-3 Visa: Another Way to Facilitate U.S.-India Business In his meeting with President Barack Obama in September of this year, Prime Minister Manmohan Singh noted that India and America are working together to give our cooperation a new sense of purpose, widening and deepening in diverse directions. As economic collaboration between the United States and India deepens, the five U.S. visaissuing posts in India New Delhi, Mumbai, Kolkata, Hyderabad, and Chennai continually strive to better facilitate U.S. travel through dialogue with businesses and business organizations. Representatives of the United States Mission in India frequently engage in dialogue with companies and business organizations. In these meetings, consular officers address questions about visa processes and share information about consular services and the wide array of visa categories available to meet prospective travelers' needs. In the last fiscal year, over 763,000 Indian nationals received visas to travel to the United States for a variety of reasons, from attending business meetings and trade expositions to studying or visiting relatives. In the November IACC newsletter for the Tamil Nadu chapter, we discussed the J-1 visa category as a possible option for lengthy training in the United States. Those interested in applying for designation to become an exchange visitor sponsor can refer to the Department of Homeland Security's User Manual for Temporary Users of SEVIS or contact the Office of Private Sector Exchange and ask to speak to a program designation officer at jvisas@state.gov. Information can also be found on the private-sector exchange website at and at Another visa classification to consider is the H-3. If a company needs to train India-based employees in the United States because the training is not available in India, an H-3 trainee visa may be appropriate. The H-3 visa classification, like the H-1B, is petitionbased, meaning that much of the process is overseen by the Department of Homeland Security. The prospective H-3 trainee must be invited by a U.S. employer or organization, and the U.S. employer or organization must file a Form I-129, Petition for Nonimmigrant Worker. If the petition is approved, the trainee may be allowed to remain in the United States for up to 2 years. When petitioning, the U.S. employer or organization must demonstrate that: The proposed training is not available in the foreign national's own country; The foreign national will not be placed in a position which is in the normal operation of the business and in which U.S. citizens and resident workers are regularly employed; The foreign national will not engage in productive employment unless such employment is incidental and necessary to the training; and The training will benefit the beneficiary in pursuing a career outside the United States. As noted above, the H-3 classification is not for employment in the United States. It is designed to provide a foreign national with job-related training for work that will ultimately be performed outside the United States. For more information on what must be included in the actual petition document, please visit the U.S. Citizenship and Immigration Services website at and review the information on H-3 Nonimmigrant Trainee or Special Education Exchange Visitor. The H-3 classification allows for dependents. Trainees' spouses and children under the age of 21 may accompany the trainee to the United States as H-4 non-immigrant visa holders. Information on the types of activities allowed while under H-4 nonimmigrant status is provided on the website. Unlike the H1B, there is no numerical limitation on H3 visa issuances. 9

10 As the United States and India readily exchange ideas and information and as the bilateral relationship deepens, more companies may wish to send employees to the United States for training. The possibilities for collaboration between India and the United States are vast and continually expanding, and the U.S. Mission to India works to facilitate legitimate travel to help strengthen this cooperation. The exchange of ideas between our countries whether between political leaders, CEOs, employees, students, or tourists leads to innovation, economic growth, and job creation in both our countries. To help facilitate this travel, the U.S. Department of State offers not only 10-year multiple-entry visas for Indian business travelers or tourists, but a variety of other visa classes. The J-1 and H-3 are only two examples of the types of visa classifications offered. There are many more, and we encourage you to visit us at to see what other options might be appropriate for your needs. If you have any specific questions, we encourage you to contact us at support-india@ustraveldocs.com. We are always seeking ways to innovate and improve our processes to best meet the needs of India's numerous and well-qualified travelers. Source : American Consulate General, Chennai EB-5 Green Card Investor Visa 1. What is EB-5 visa program? It is a special program of the US government for encouraging investment and job creation in the United States by foreign investors. For this purpose, US Citizenship & Immigration Services (CIS) approves selected projects as eligible for investment. The incentive for investors is the grant of Permanent Residence in the US. 2. Is the investment guaranteed by the US government? No. EB-5 investment projects have been approved by Citizenship & Immigration Services, which is an arm of the US government, for their potential for job creation. Each project has its own business model and carries market risks. This is an area where potential investors can benefit from professional guidance and help. 3. What is the volume of investment? Minimum investment ranges from US$500,000 to US$1million, depending on the location and nature of the project. At a minimum, investors in India must be prepared for an outgo of about Rs.3.50 crores, which includes investment and related expenses, at the current exchange rates. Of this amount, about Rs.3.00/3.25 crores will be towards investment and the rest for related expenses, such as immigration, legal and tax services in India. It does not include expenses for relocation and starting life the US, such as airfare and the cost of setting up a home. 4. Is it necessary to pay the investment amount before the investor can receive Permanent Residence visa? Yes, the investor should park the funds in the specified account before grant of conditional Permanent Residence visa in the US 10

11 5. What are the eligibility criteria for a foreign investor to apply for EB-5 visa? To apply for EB-5 visa, an investor must: a. Prove legality of the source of funds to be used for the investment (this can be through documents such as business records and income tax returns) b. Produce documents relating to all legal actions (civil, criminal, tax, administrative and so on) in which the investor has been involved in the last 15 years. c. Be an accredited investor. i.e.holding net assets of USD 1 Million. 6. Who are all eligible for Permanent Residence visas for investments made in EB-5 projects? EB-5 is a family immigration program. The investor, spouse, and unmarried children under 21 years of age are eligible for grant of Permanent Residence in the US. 7. Is the investor-family free to choose a location for living in the US? Yes, the investor family can live anywhere in the United States. There is no condition linking the place of living to the location of the EB-5 project in which the investment is made. 8. Are there any restrictions on travel outside the US after relocating to the US on EB-5 visa? All Permanent Residents must maintain a residence in the US, but are free to travel in and out of the US. A permit will be required for re-entry into the US, after a continuous stay of one year or more in a foreign jurisdiction. 9. Are there any conditions attached to the EB-5 visas? Yes, the visas are subject to the condition about creation of jobs within 2 years from the date of investment. Ninety days before the completion of 2 years, application may be filed with US Citizenship & Immigration Services with proof of job creation, for getting the condition deleted. For this purpose, the investor must obtain necessary information/ documents from the EB-5 project in which he/she has invested. When this happens, the Permanent Residence becomes unconditional. Continuance of Permanent Residence is dependent on job creation by the EB-5 project and this is another issue potential investors must bear in mind while selecting project for investment. 10. Is it possible to obtain US citizenship, after receiving Permanent Residence under EB-5 category? Yes, investors have the option to seek US citizenship 4 years and 9 months after obtaining EB-5 visas. There is no compulsion to take US citizenship, if the investors prefer to retain their original citizenship (e.g. Indian). 11. What happens to citizenship, assets, and other interests of the investor-family in the native country, after grant of EB-5 visa? The investor-family is free to retain its assets, property, business, and other economic interests in the native country. For Indian citizens, obtaining Permanent Residence in the US will not interfere with any of their citizenship rights, including rights to: a. Enter India without need for an Indian visa b. Own property in India, c. Own/operate business in India The Q& A was given by Mr. V.Ramu Sharma, FCA, Director, AMCAN Investment Advisors P Ltd 11

12 US wants people-to-people ties with India: Diplomat INDO-US Trade News: With India-US trade crossing $100 billion, US embassy spokesperson Peter Vrooman on Thursday said America now aims at promoting people-to-people ties with India besides working together to counter terrorism. Reiterating US President Barack Obama's words that Indo-US ties would be one of the most defining partnerships of the 21st century, Vrooman said, "US was supportive of India's increased role in regional and global institutions as it has a powerful influence in South Asia. A strong Indian presence would lead to the economic prosperity of the entire region." 06/india/ _1_people-to-people-ties-southasia-india-us Source : Times of India Need more American investment into India, says Sibal Communications Minister Kapil Sibal Monday called for greater investments from US-based companies in India to create jobs and buying capacity for the local population. You need to invest in agriculture, medical (sector), electronics and education. Unless you help Indian economy, you won't be able to increase buying capacity of Indian consumers, Sibal said at the the ninth Indo- US Resurgence Summit held here. The (US investors) are interested in selling their aircraft, defence equipments, but that is not the way to converge in this partnership. According to Indian government estimates, the Indo- US trade in merchandise goods for the calendar year 2012 stood at $62.85 billion with balance of trade surplus of $18.18 billion in favour of India. On the other hand, civilian and military orders placed by India with American companies have c r e a t e d t h o u s a n d s o f j o b s i n t h e U S. Notwithstanding the growing trade ties, the US under its strategic partnership wants to co-develop new systems for civilian and military purposes with India. The minister, who was speaking at the event organised by the Indo-American Chamber of Commerce (IACC), also attacked the US government policy of restricting visas to Indian information technology (IT) professionals. You are a country that talks about liberalisation of global economy and yet you are increasing cost of our IT sector by trying to impose restriction on our people trying to go to US. I don't think this is the right attitude for partners, Sibal said. Sibal added that the trade between the two countries can rapidly expand, and pointed at the enormous opportunity for the companies of two sides to collaborate in areas like manufacture of consumer durables as there is exponential demand in India. Today because of high wages cost in China, manufacturing facilities are shifting to India. Japanese are very keen to invest in India, I don't know why the Americans don't come forward, Sibal said. The present import bill of crude oil is about $140 billion. Do you think Indian economy can afford to import $300 billion of consumer electronics? We will become bankrupt. We have no choice to build manufacturing sector in our country. The day-long summit in the national capital is being attended by more than 200 delegates representing companies and institutions from India and the US, including top diplomats and officials from government levels. 12

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14 Trade Enquiries from Indian companies Indian company looking for channel partnering with US based business concerns 1) An Indian based Manufacturer in the field of Electronic Manufacturing Services (Electronic PCB Assemblies), Solenoid Coil Assemblies, Wiring Harness Assemblies is looking for channel partnering with US based business concerns, in order to rapidly expand its global footprint Trade Enquires from OEMs based at U.S. Joint Venture with U.S., Companies, to work in India Agents in U.S., to work with us on Commission basis Technology Partners from U.S., who can support us with Technical Know How - to Develop and Sell Products in India and for Exports For any additional information on the above enquiries, please contact IACC Secretariat by - sujatha@iaccindia.com 2) An Indian Company license the dry lubrication process and seeking interested channel partners at potential industrial pockets in India to operate our licensed centers. Common end user industries include: Aerospace, Medical, Plastic Molding, Oil and Gas, Industrial Machinery, Automotive/Racing and Vacuum Equipment. Common applications include bearings, valves, shafts, fittings, connectors and fasteners, linear, sliding and rotating components, and latching and locking mechanisms. IACC in News: 14

15 Published by Indo-American Chamber of Commerce, New No:6 (Old No:2), Seethammal Colony, I Cross Street, Alwarpet, Chennai Phone: Telefax: tn@iaccindia.com Website: Disclaimer: The content of this Newsle er, SPECTRUM has been gathered from various sources. This content has been made available by the Indo-American Chamber of Commerce to its members in good faith as a service to them. Though the Chamber has taken adequate efforts to ensure the authen city of the informa on, the Chamber will not be liable for any ac on that readers take based on the informa on presented. The views presented herein are those of the authors/contributors and are not necessarily the views of the Chamber. The organiza on does not accept any liability whatsoever nor do they accept responsibility for any financial or legal consequences arising from the use of the informa on provided herein. 15