The Leaderboard: Ratan Tata & David Cote

The Leaderboard profiles the people behind the policies of the Asia-Pacific.
Who are they?

Ratan Tata.

Ratan Tata. Source: BVB media’s flickr photostream, used under a creative commons license.

Ratan Tata is the former chairman of the Tata Group, India’s oldest, largest, and most well-known conglomerate. He transformed the Tata Group into a $100 billion business empire comprising over 450,000 employees worldwide and over 100 operating companies in key sectors such as communications and information technology, engineering, services, and energy.

Since stepping down as chairman, Tata has turned his full attention to philanthropy and heads two of the largest philanthropic trusts in India.

David Cote, Honeywell CEO

David Cote. Source: Asia Society’s flickr photostream, used under a creative commons license.

David Cote is the chairman and CEO of Honeywell, a $39 billion technology and manufacturing company headquartered in New Jersey that produces a vast array of commercial and consumer products, and aerospace and engineering services.Mr. Cote has served in this capacity since 2002, and under his leadership, the company has seen a 71% increase in sales.

Why are they in the news together?

Mr. Tata and Mr. Cote co-chaired the 2013 U.S.-India CEO Forum, which took place on Friday, July 12 in Washington, D.C. Established in 2005, the CEO Forum aims to bring business leaders from both countries together to develop actionable recommendations for enhancing bilateral trade and investment. This year’s forum convened 10 CEO’s from both countries.

What is their role at the CEO Forum?

According to the official website of the U.S.-India CEO Forum, the co-chairs are responsible for developing a “road map for increased partnership and cooperation between the two countries at a business level.” With economic engagement driving the transformation of the U.S.-India relationship, Mr. Tata and Mr. Cote will identify further opportunities for bridging the two countries’ economies.

What issues were likely discussed?

On the U.S. side, concerns about India’s openness to foreign investment, and its intellectual property regime and foreign direct investment regimes were raised. U.S. business leaders applauded India’s recent decision to put its Preferential Market Access (PMA) policy on hold, and it now sits with the Prime Minister’s Office under review. This policy would mandate foreign companies to procure electronic goods from domestic manufacturers, in an attempt to provide a boost to the country’s manufacturing sector.

The Indian side, led by Mr. Tata, expressed concerns about restrictive provisions of the U.S. immigration reform bill, which could place limits on the number of H1B visas issued to Indian workers in the U.S., and could have a dramatic impact on the Indian information technology sector. Resuming negotiations on a Bilateral Investment Treaty and partnering more closely in the critical areas of vocational training and skills development were also expected to be key agenda items.

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