Latest news with #LeadershipSummit2025
Yahoo
2 days ago
- Business
- Yahoo
US Commerce Secretary Howard Lutnick and Second Lady Usha Vance Address USISPF Leadership Summit 2025
Washington, District Of Columbia , June 04, 2025 (GLOBE NEWSWIRE) -- The U.S.-India Strategic Partnership Forum (USISPF) convened its Leadership Summit 2025 in Washington, D.C., bringing together a distinguished group of senior government and business leaders, policy makers and thought leaders to celebrate and advance the U.S.-India-Japan partnership.(L-R): John Chambers (Chairman, USISPF), Dr. Mukesh Aghi (President & CEO, USISPF), Arvind Krishna (Chairman & CEO, IBM), Secretary Howard Lutick (US Commerce), Toshiaki Higashihara (Chairman, Hitachi), Kumar Mangalam Birla (Chairman, Aditya Birla).USISPF was proud to host the Second Lady of the United States, Ms. Usha Vance, in a conversation with John Chambers, Chairman, USISPF. described the US-India relationship as 'very personal' to her, highlighting a moment of 'great opportunity' in the evolving bilateral ties. 'When we were visiting India recently, I was struck by the number of people who came up to me and said how much they loved our country, how they visited family, how they visited just for pleasure, and how they were hoping for a close relationship going forward. I think these personal ties have something to do with it.' said while reminiscing about her visit to India along with her family. She continued, speaking on her upcoming priorities, "Literacy is going to be a big focus of my efforts. It's a natural fit, given that I have small children and my own personal interests." Following her remarks, Mr. John Chambers, Chairman of USISPF, delivered opening comments emphasizing the role of innovation and public-private partnerships in strengthening bilateral ties. The Summit featured engaging discussions with Ambassador Vinay Mohan Kwatra, Ambassador of India to the United States, Congressman Rich McCormick, Co-Chairman of the India and Indian-American Caucus and Senator Steve Daines. The keynote address was delivered by the U.S. Secretary of Commerce Howard Lutnick, who outlined strategic priorities for deepening economic collaboration between the U.S. and India. 'I am a great fan of India, and even the people in the government know it's true.' stated, underscoring his long-standing admiration for the country. Drawing from his experience and understanding of India's growth, he added, "From what I know about India, the core population of India has that drive and ambition, and that's why the Indian economy will always continue to grow and thrive. It has that underpinning, and you can do things in India that, in many other countries, you just can't get done." Emphasizing the positive trajectory of ongoing trade negotiations, he stated, 'You should expect a deal between the United States and India in the not-too-distant future, because I think we have found a place that really works for both countries.' Lastly, touching upon U.S. foreign policy under current leadership, he emphasized, 'The President thinks 'America First,' but he does not think 'America only' or 'America exclusively.' He will first take care of home - so that we are big and strong - but then he is going to take care of his allies. He is going to make sure that he takes care of India - whom he deeply, deeply admires and respects - and we are going to have a great, great relationship together.' The evening culminated in the presentation of the USISPF Global Leadership Awards 2025, to Mr. Arvind Krishna, Chairman, President & CEO, IBM; Mr. Kumar Mangalam Birla, Chairman, Aditya Birla Group and Mr. Toshiaki Higashihara, Executive Chairman, Hitachi, Ltd. These leaders were recognized for their outstanding contributions in strengthening the U.S.–India–Japan economic corridor. Under the leadership of , is the largest Indian greenfield investor in the United States, with investments exceeding $15 billion. , "It is a great honor to receive the 2025 USISPF Global Leadership Award. This recognition is a testament to Aditya Birla Group's deep commitment to the U.S., and belief in the potential to further deepen the U.S.-India partnership. We are proud to have started our journey in the U.S. over 18 years ago, and to place big bets here. We continue to choose America because we believe in the strength, stability, and promise of this nation, and our commitment goes beyond capital – we are investing in people, in communities, and in long-term impact to create mutual prosperity." , was honored for his leadership in redefining the future of technology especially in AI, hybrid cloud, and quantum computing. Arvind has ensured that India continues to play a central role in the company's global expansion plan and has been passionate about championing US-India deep tech ties. Under Arvind's leadership, IBM will continue to invest $150 billion in America over the next five years to fuel the economy and accelerate its role as the global leader in computing. "I'm honored to receive this award and grateful for the support of USISPF and its allies in strengthening the U.S.-India-Japan relations,' . 'IBM has built partnerships and made sustained technology investments in each country, and I believe these collaborations provide the right foundation for powerful innovation and growth." , was honored for leading Hitachi's transformation into a leader in Energy, Mobility, Industrial Automation, and Digital Technology, driving growth through sustainable development and benefits for society. Reflecting upon Hitachi's long-standing legacy in India, and accepting the award, he remarked, 'Having first established a presence in India in 1933, Hitachi has enjoyed a rich and enduring relationship with the country. India offers Hitachi a tremendous wealth of deep technical talent, and Hitachi brings a broad spectrum of solutions to India, from Mobility to Energy Infrastructure, to Software and Services. As we continue to serve our clients globally, our collaboration with USISPF, along with strong partnerships across the public and private sectors in both the United States and India, will be pivotal in fulfilling our commitment to delivering innovations that benefit society and the planet."Second Lady of the United States, Ms. Usha Vance in conversation at the USISPF Leadership USISPF The US-India Strategic Partnership Forum (USISPF) is committed to creating the most powerful partnership between the United States and India. As the only independent not-for-profit institution dedicated to strengthening the U.S.-India partnership in Washington, D.C., and in New Delhi, USISPF is the trusted partner for businesses, non-profit organizations, the diaspora, and the governments of India and the United States. Press inquiries USISPF Ankit Jain ajain@ 2244607900 2550 M St NWWashington, DC 20037, USA A video accompanying this announcement is available at in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
US Commerce Secretary Howard Lutnick and Second Lady Usha Vance Address USISPF Leadership Summit 2025
Washington, District Of Columbia , June 04, 2025 (GLOBE NEWSWIRE) -- The U.S.-India Strategic Partnership Forum (USISPF) convened its Leadership Summit 2025 in Washington, D.C., bringing together a distinguished group of senior government and business leaders, policy makers and thought leaders to celebrate and advance the U.S.-India-Japan partnership.(L-R): John Chambers (Chairman, USISPF), Dr. Mukesh Aghi (President & CEO, USISPF), Arvind Krishna (Chairman & CEO, IBM), Secretary Howard Lutick (US Commerce), Toshiaki Higashihara (Chairman, Hitachi), Kumar Mangalam Birla (Chairman, Aditya Birla).USISPF was proud to host the Second Lady of the United States, Ms. Usha Vance, in a conversation with John Chambers, Chairman, USISPF. described the US-India relationship as 'very personal' to her, highlighting a moment of 'great opportunity' in the evolving bilateral ties. 'When we were visiting India recently, I was struck by the number of people who came up to me and said how much they loved our country, how they visited family, how they visited just for pleasure, and how they were hoping for a close relationship going forward. I think these personal ties have something to do with it.' said while reminiscing about her visit to India along with her family. She continued, speaking on her upcoming priorities, "Literacy is going to be a big focus of my efforts. It's a natural fit, given that I have small children and my own personal interests." Following her remarks, Mr. John Chambers, Chairman of USISPF, delivered opening comments emphasizing the role of innovation and public-private partnerships in strengthening bilateral ties. The Summit featured engaging discussions with Ambassador Vinay Mohan Kwatra, Ambassador of India to the United States, Congressman Rich McCormick, Co-Chairman of the India and Indian-American Caucus and Senator Steve Daines. The keynote address was delivered by the U.S. Secretary of Commerce Howard Lutnick, who outlined strategic priorities for deepening economic collaboration between the U.S. and India. 'I am a great fan of India, and even the people in the government know it's true.' stated, underscoring his long-standing admiration for the country. Drawing from his experience and understanding of India's growth, he added, "From what I know about India, the core population of India has that drive and ambition, and that's why the Indian economy will always continue to grow and thrive. It has that underpinning, and you can do things in India that, in many other countries, you just can't get done." Emphasizing the positive trajectory of ongoing trade negotiations, he stated, 'You should expect a deal between the United States and India in the not-too-distant future, because I think we have found a place that really works for both countries.' Lastly, touching upon U.S. foreign policy under current leadership, he emphasized, 'The President thinks 'America First,' but he does not think 'America only' or 'America exclusively.' He will first take care of home - so that we are big and strong - but then he is going to take care of his allies. He is going to make sure that he takes care of India - whom he deeply, deeply admires and respects - and we are going to have a great, great relationship together.' The evening culminated in the presentation of the USISPF Global Leadership Awards 2025, to Mr. Arvind Krishna, Chairman, President & CEO, IBM; Mr. Kumar Mangalam Birla, Chairman, Aditya Birla Group and Mr. Toshiaki Higashihara, Executive Chairman, Hitachi, Ltd. These leaders were recognized for their outstanding contributions in strengthening the U.S.–India–Japan economic corridor. Under the leadership of , is the largest Indian greenfield investor in the United States, with investments exceeding $15 billion. , "It is a great honor to receive the 2025 USISPF Global Leadership Award. This recognition is a testament to Aditya Birla Group's deep commitment to the U.S., and belief in the potential to further deepen the U.S.-India partnership. We are proud to have started our journey in the U.S. over 18 years ago, and to place big bets here. We continue to choose America because we believe in the strength, stability, and promise of this nation, and our commitment goes beyond capital – we are investing in people, in communities, and in long-term impact to create mutual prosperity." , was honored for his leadership in redefining the future of technology especially in AI, hybrid cloud, and quantum computing. Arvind has ensured that India continues to play a central role in the company's global expansion plan and has been passionate about championing US-India deep tech ties. Under Arvind's leadership, IBM will continue to invest $150 billion in America over the next five years to fuel the economy and accelerate its role as the global leader in computing. "I'm honored to receive this award and grateful for the support of USISPF and its allies in strengthening the U.S.-India-Japan relations,' . 'IBM has built partnerships and made sustained technology investments in each country, and I believe these collaborations provide the right foundation for powerful innovation and growth." , was honored for leading Hitachi's transformation into a leader in Energy, Mobility, Industrial Automation, and Digital Technology, driving growth through sustainable development and benefits for society. Reflecting upon Hitachi's long-standing legacy in India, and accepting the award, he remarked, 'Having first established a presence in India in 1933, Hitachi has enjoyed a rich and enduring relationship with the country. India offers Hitachi a tremendous wealth of deep technical talent, and Hitachi brings a broad spectrum of solutions to India, from Mobility to Energy Infrastructure, to Software and Services. As we continue to serve our clients globally, our collaboration with USISPF, along with strong partnerships across the public and private sectors in both the United States and India, will be pivotal in fulfilling our commitment to delivering innovations that benefit society and the planet."Second Lady of the United States, Ms. Usha Vance in conversation at the USISPF Leadership USISPF The US-India Strategic Partnership Forum (USISPF) is committed to creating the most powerful partnership between the United States and India. As the only independent not-for-profit institution dedicated to strengthening the U.S.-India partnership in Washington, D.C., and in New Delhi, USISPF is the trusted partner for businesses, non-profit organizations, the diaspora, and the governments of India and the United States. Press inquiries USISPF Ankit Jain ajain@ 2244607900 2550 M St NWWashington, DC 20037, USA A video accompanying this announcement is available at in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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Business Standard
2 days ago
- Business
- Business Standard
Trump's $5 million 'Gold Card' may succeed in India, but faces legal test
The Trump administration's proposed 'Gold Card' visa, which offers US permanent residency in return for a $5 million investment, could be especially popular among wealthy Indian nationals, US Commerce Secretary Howard Lutnick said on Monday. Speaking at the US-India Strategic Partnership Forum (USISPF) Leadership Summit 2025, Lutnick said the new visa model would offer affluent Indians a unique path into the American economy. 'I expect the Trump Card will create really an enormous opportunity for people to have the ability to come to America,' said Lutnick. 'We are going to be incredibly successful in India.' What is the Trump Gold Card? The 'Gold Card' is pitched as a replacement to the existing EB-5 investor visa. The current EB-5 scheme allows foreign nationals to secure permanent US residency through a minimum $800,000 investment that creates or preserves 10 full-time jobs. In contrast, the Gold Card proposes: A $5 million investment threshold Immediate US permanent residency, similar to a green card A streamlined route to US citizenship No obligation to create jobs Lutnick described it as 'the equivalent of a green card' but with options for tax planning. 'You can do it that way and pay global tax, or you can keep everything the way it is and just pay US tax on US assets,' he said. 'No inheritance tax, and none of that kind of stuff either.' He added, 'That's what we're going to call it—an international entrepreneur. I think it will be very well received amongst the great people of India who want to participate and have the means to participate in America.' Lutnick credited Indian entrepreneurs for their growing presence in the US business world. 'They're fantastic entrepreneurs, fantastic business people, smart, thoughtful, educated in every way,' he said. Application process and availability Interested applicants can visit to register and learn more about the process. Some cards have reportedly already been purchased in the Middle East. The Trump administration expects the initiative to raise considerable revenue. Trump has said, 'We could sell maybe a million of these cards, maybe more than that.' He projected that if 10 million cards were sold, the US could generate $50 trillion. Lutnick offered a more conservative estimate, suggesting the US could still raise $1 trillion if 200,000 people invested. But is the Gold Card visa legal? The programme has triggered legal questions over whether the President can bypass Congress to change immigration law. Piyush Gupta, vice president for India and the Middle East at CanAm Enterprises, said, 'From its inception, the EB-5 program has been legislated by Congress, and under the EB-5 Reform and Integrity Act of 2022 (RIA), it was reauthorised through September 30, 2027. Any changes to the program would require congressional approval.' The American International Lawyers Association echoed this view in a March blog post. 'As a matter of law, it is important to remember that the President cannot unilaterally end or change the EB-5 program,' the group wrote. 'Unless Congress repeals it, or passes a new or amended law,' the existing scheme is expected to remain in place. US holds the wealth crown The US has over 6 million millionaires, accounting for 37% of the world's total 10,800 centi-millionaires (with $100 million+ net worth) More than 850 billionaires From 2014 to 2024, the US millionaire population grew by 78%—the highest in the world. The Gold Card, if implemented, would put the US in line with other countries that offer investment-based residency, but with a much higher entry bar.
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Business Standard
3 days ago
- Automotive
- Business Standard
Would be delighted for India to produce a wide range of products: Lutnick
US Commerce Secretary Howard Lutnick on Monday said the United States is looking to shift a broad array of industries to India, calling the country a key manufacturing partner in a potential new trade relationship. 'There are an enormous number of product categories that we are going to be delighted for India to produce,' Lutnick said at the US-India Strategic Partnership Forum (USISPF) Leadership Summit 2025, inviting Indian businesses to take part in America's advanced manufacturing push. 'While some manufacturing will be reshored to the US, India could benefit from a unique trade relationship.' Trump warns Apple, Tesla over India expansion These comments follow US President Donald Trump's criticism of major American companies, particularly Apple and Tesla, over their expansion in India. Trump took aim at Apple's increasing iPhone exports from India to the US, which rose by 76 per cent to three million devices in April 2025. He argued that such moves could undermine domestic manufacturing and threatened a 25 per cent tariff on iPhones not made in the US. Despite this, Apple supplier Foxconn has continued with its $1.5 billion investment in a new component factory near Chennai. Regarding Tesla, Trump described the company's plans to set up a factory in India as 'very unfair' to the US. He said that while building a factory in India might be acceptable, it would disadvantage American manufacturers. Trump also cited India's high import tariffs as a barrier to Tesla's success in the country and warned of reciprocal tariffs on Indian goods if the imbalance continues. Despite Tesla's entry into India, reports suggest Elon Musk may not expand manufacturing in the country anytime soon. Bilateral trade agreement in focus The commerce secretary's remarks come as both nations step up efforts to finalise a bilateral trade agreement. Lutnick confirmed that a deal is 'absolutely on the table' and could be concluded in the 'not-too-distant future.' A US delegation is currently in India to advance discussions. 'Earlier countries get a better deal. That's the way it is. I think India is trying hard to be one of the earlier countries, which I appreciate,' said Lutnick. 'These kind of deals used to take two or three years and we're trying to get them done in a month, which is just not the ordinary DNA of trading relationships between countries.' High tariffs a sticking point in talks One of the main sticking points remains India's high import tariffs, an issue repeatedly raised by President Trump and US officials. 'India has very high tariffs. When we ask them why that is, they don't know why,' Lutnick said. 'Bringing them down to a reasonable level is something we are actively working on.' He said the US is seeking fair market access for its businesses and a reduced trade deficit with India, while acknowledging that New Delhi wants 'special access' to American and allied markets. 'Let's find a proper place in the middle,' he urged. 'I will treat you incredibly kindly on things that are important to you, and you bring down your tariffs and give us market access.' Tech and talent: US proposes AI cooperation and 'gold visa' On the tech and AI front, Lutnick said the US is open to supporting India's ambitions in data infrastructure and artificial intelligence. 'We're willing to responsibly sell our best chips to allies,' he said, proposing a 'Gold Card' visa programme that would allow top global talent, including from India, to work seamlessly across both economies. He also praised India's regulatory reforms in capital markets, saying they could help attract more foreign listings. 'If your regulators are hard, your books are beautiful, and India can attract, they will want to go public there,' Lutnick said.
Yahoo
29-05-2025
- Business
- Yahoo
U.S. Secretary of Commerce Howard Lutnick and Second Lady Usha Vance to Address USISPF Leadership Summit 2025
U.S. Secretary of Commerce Howard Lutnick to Deliver Keynote Address at the USISPF's Leadership Summit 2025 in Washington, D.C. Second Lady Usha Vance to Participate in a Fireside Chat at the Summit USISPF To Honor Arvind Krishna of IBM, Kumar Mangalam Birla of Aditya Birla Group and Toshiaki Higashihara of Hitachi with the Global Leadership Award Washington, D.C. , May 29, 2025 (GLOBE NEWSWIRE) -- The U.S.-India Strategic Partnership Forum (USISPF) will host the eighth edition of its Leadership Summit on Monday, June 2, 2025, in Washington, at the USISPF Leadership Summit 2025 include Howard Lutnick, Usha Vance, Arvind Krishna, Kumar Mangalam Birla, Toshiaki Higashihara, Ambassador Vinay Kwatra, Senator Steve Daines, Representative Rich McCormick, and John are honored to announce US Secretary of Commerce Mr. Howard Lutnick as the Keynote Speaker at the summit. Secretary Lutnick will share his insights on strengthening the U.S.-India strategic and economic partnership to achieve the goal set by President Trump and Prime Minister Modi for $500 billion in bilateral trade. The Summit will also feature the Second Lady of the United States, Ms. Usha Vance in a fireside chat. As the first Indian American in the role of Second Lady, Ms. Vance's presence symbolizes the deepening partnership between the world's oldest and largest democracies, and highlights the robust strength of the people-to-people ties. USISPF will also present the 2025 Global Leadership Awards to three distinguished business leaders – Mr. Arvind Krishna, Chairman, President and CEO, IBM, Mr. Kumar Mangalam Birla, Chairman, Aditya Birla Group and Mr. Toshiaki Higashihara, Executive Chairman, Hitachi, Ltd. for their outstanding contributions in strengthening the US-India-Japan economic partnership. Under Mr. Birla's leadership, the Aditya Birla Group is the largest Indian greenfield investor in the United States, with investments exceeding $15 billion. IBM, led by Mr. Arvind Krishna,has accelerated global digital transformation through advancing cutting-edge research in AI, cloud, quantum computing, and blockchain, with India playing a pivotal role in its global R&D and talent ecosystem. Hitachi, under the leadership of Toshiaki Higashihara, continues to expand its investments in infrastructure, mobility, and digital innovation, closely aligning with key U.S.-India -Japan-India collaboration in energy, transportation, and technology. This will be the first time that QUAD business leaders will be honored at the USISPF summit. The summit will also feature conversations with Ambassador Vinay Mohan Kwatra, Ambassador of India to the United States, Senator Steve Daines (R-MT) and Representative Rich McCormick (R-GA-07), Co-Chair, Congressional Caucus on India and Indian Americans, and USISPF Board members. 'USISPF was founded with the single goal of uniting the two most powerful and robustdemocracies.' said John Chambers, Chairman, USISPF; Founder & CEO, JC2 Ventures. He addedUSISPF's strength and reach reflect with the growth, dynamism and optimism inherent in the U.S.-India strategic partnership'. 'As the most prestigious summit in the U.S.-India corridor, the Leadership Summit brings together key policy and decision makers and private sector leaders to discuss their vision and way forward for bilateral partnership'. 'We are proud to welcome Secretary Lutnick, Second Lady Usha Vance and recognize exemplary business leaders who have strengthened the U.S.-India-Japan corridor.' said Dr. Mukesh Aghi, President & CEO, USISPF. 'These three leading democracies—together representing well over $35 trillion—are united by a shared commitment to strengthening supply chains and upholding a rules-based international order in the Indo-Pacific and beyond. With Japan's strength in advanced engineering manufacturing, India's robust economic growth, demographic dividend and engineering talent and the U.S. innovation economy and capital, this trilateral partnership is uniquely positioned to drive progress across critical sectors. This summit celebrates that shared vision and momentum.' The USISPF Leadership Summit is the most prestigious gathering in Washington, DC focused on accentuating US-India ties and convening senior government leaders and officials, diplomats, Members of the U.S. Congress and Senate, USISPF Board members, leading business executives, media, think tanks, and global thought leaders, all working to advance cooperation and celebrate this important USISPF The US-India Strategic Partnership Forum (USISPF) is committed to creating the most powerful partnership between the United States and India. As the only independent not-for-profit institution dedicated to strengthening the U.S.-India partnership in Washington, D.C., and in New Delhi, USISPF is the trusted partner for businesses, non-profit organizations, the diaspora, and the governments of India and the United States. Press inquiries USISPF Ankit Jain ajain@ 2244607900 2550 M St NWWashington, DC 20037, USA Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
