NEWS

Tri-State business leaders attend IAICC’s North-East Regional chapter meeting in New York City

The recent IAICC North East Regional Chapter Meeting held on April 25, 2024 at 7 times Sqaure, NY, was a resounding success. It brought together a great cohort of 100 business leaders with diverse interests from the New York metropolitan area, specifically from the States of New York, New Jersey, and Connecticut. The event sparked dynamic conversations centered around IAICC’s mission, ongoing initiatives, and immediate priorities. Special thanks to the guest of honor Dilip Chauhan, Deputy Commissioner for Trade, Investment and innovation Mayor’s Office of International & Immigrant Affairs – Welcoming Atlanta who discussed the business opportunities that are available with the New York City Government.

Debt, fiscal challenges facing low-income countries worry IMF

The recent discussions at the International Monetary Fund and World Bank’s 2024 annual Spring Meetings have underscored the urgent need to address the challenges faced by low-income countries. At the Indian American International Chamber of Commerce (AICC), we recognize the significance of this issue, not just for the countries directly affected, but for global economic stability and prosperity. Dr. Shankar Rachakonda, Chairman of IAICC, emphasized the imperative for developed nations to step up and provide meaningful support to their less fortunate counterparts, echoing the spirit of unity and collaboration embodied by initiatives like India’s G20 theme, “In the spirit of unity and collaboration espoused by initiatives like India’s G20 theme, “One Earth, One Family, One Future.”

India's GDP to grow 6.1% in 2024: Moody's Analytics

The Indian American International Chamber of Commerce (IAICC) notes the recent projections for India’s GDP rate in 2024 with some concern. Moody’s Analytics, in their latest report, anticipates a growth rate of 6.1%, lower than the 7.7% recorded in the previous year. This news arrives amidst ongoing challenges stemming from the after effects of the COVID-19 pandemic and various geopolitical tensions. Moody’s Analytics emphasizes the significant impact of the pandemic on India’s economy, with output still lagging behind pre-crisis levels by 4%. Additionally, uncertainties surrounding inflation, as highlighted by recent consumer price inflation rates hovering around 5%, add to the complexity of the economic landscape. However, amidst these concerns, IAICC remains steadfast in its optimism that growth rate will pick up once geo-political tensions are reduced and the supply chain challenges are addressed. IAICC calls upon the world leaders, especially the President of the US, to work tirelessly to reduce geopolitical tensions to create a conducive environment for economic growth.

Highlights from the IAICC Mid-Atlantic Chapter Meeting 2024 in Potomac, MD! Connecting Visionaries, Driving US-India Cooperation.

The recent IAICC Mid-Atlantic Chapter Meeting, held on March 14, 2024, in Potomac, MD, was a resounding success. It united a dynamic cohort of accomplished business professionals. Engaging with almost 75 business leaders from the DC metropolitan area and the States of Maryland and Virginia was a true privilege. The event sparked dynamic conversations centered around IAICC’s mission, ongoing initiatives, and immediate priorities. It offered a comprehensive overview of IAICC’s sector-specific councils and emphasized our unwavering commitment to fostering US-India cooperation in trade and commerce while assisting small business communities and fostering entrepreneurship and innovation. Key workforce development and philanthropic initiatives were discussed as well. The networking opportunities forged invaluable connections, laying the foundation for collaborative growth within the Indian American business community in the presence of IAICC leadership, including Shankar Rachakonda, KV Kumar, Appen Menon, and Suresh Ramachandran. Special thanks to the guest of honor Murali Krishna Cherukuri who highlighted US-India collaboration in Cancer research. IAICC is grateful to all attendees for making this event a grand success. Special thanks and heartfelt gratitude to hashtag#schulmanroger for providing the venue and contributing to the event’s success.

Thrilled to share that our Executive Chairman, Mr. Appen Menon, along with Chairman Emeritus, Mr. K V Kumar, had the honor of attending a distinguished reception on January 24, 2024, at India House

the residence of the Indian Ambassador. US Senator Mark Warner, US Senator Jon Osoff, and Malav Dhani, Executive Board Member of IAICC were some of the distinguished guests in the event. The event was held in recognition of the outstanding contributions of the outgoing Indian Ambassador, His Excellency Taranjit Singh Sandhu. It was an evening filled with meaningful conversations and connections, bringing together leaders from various fields. A truly enriching experience!

A gentle reminder to join us for the Summit for US-India Trade (SUIT) from 28th – 31st August 2023 in Washington D.C., United States!

This prestigious summit will bring together government officials, business leaders, and experts from the United States and India to discuss and explore opportunities for enhancing trade and economic relations. So, mark your calendar and be part of the discussions on trade policy, investment, technology, and innovation of the focused sectors such as Services, IT, ITES & Digital Technology, Healthcare, Renewable Energy, Education, Legal, Climate Change and Sustainability.

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