Agenda
| U.S. - India CEO Forum Infrastructure Investment Conference Venue: The Taj Mahal Palace & Tower, Mumbai, India Day 1: Monday, October 29, 2007 - 8:00am - 6:30pm Day 2: Tuesday, October 30, 2007 - 10:00am - 12:30pm |
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| Theme: | Investment Opportunities in Indian Infrastructure |
| Organizer: | U.S.-India CEO Forum |
| Objective: | Introduce U.S. firms to the large infrastructure investment opportunity in India and share experiences and best practices for making such investments. Identify specific project opportunities for potential investment. Also provide an opportunity for U.S. firms to meet with leading Indian infrastructure development and financing firms who may serve as potential partners. Provide a forum for U.S. firms to offer guidance on what they look for in investment opportunities. |
| Host: | U.S.-India CEO Forum |
| Senior GOI & USG Participation: |
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| Attendees: |
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Day 1: Monday, October 29, 2007 - 8:00am - 6:30pm
| U.S. - India CEO Forum Infrastructure Investment Conference Notional Schedule |
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| 8:00 - 9:00am (Ball Room) |
Registration [Continental Breakfast] |
| 9:00 - 10:15am (Ball Room) |
Opening Session |
| Mr. Ratan N. Tata, Opening remarks and introduce Finance Minister Co-Chair, U.S.-India CEO Forum |
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| Mr. P. Chidambaram, Minister of Finance, Government of India |
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| Mr. William B Harrison, Introduce U.S. Treasury Secretary Co-Chair, U.S.-India CEO Forum |
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| Mr. Henry M Paulson Jr. U.S. Treasury Secretary |
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| 10:15 - 11:15am | Infrastructure Overview |
| Chairman:-Mr. Mukesh Ambani, Chairman, Reliance Industries Limited |
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| Mr. Montek Singh Ahluwalia, Deputy Chairman, the Planning Commission of India, Government of India |
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| Mr. Allan B. Hubbard, Director, U.S. National Economic Council |
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| 11:15 - 11:45am | Networking Break |
| 11:45am - 12:45pm | Private Investment in Infrastructure - Experiences and Lessons |
| Focus: Describe deal process and structures, overall deal timeline, consortium participants, financing arrangements, impediments encountered and lessons learned. | |
| Chairman: -Mr. Jamshyd N Godrej, Chairman and Managing Director, Godrej & Boyce Mfg. Co. Ltd. |
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| Dr. Rajiv B Lall Managing Director & CEO IDFC Limited |
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| Mr. G.V. Sanjay Reddy Vice Chairman GVK Industries Limited |
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| Mr. Vinayak Chatterjee Chairman Feedback Ventures Pvt. Ltd. |
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| Mr. Dinesh Chandiok Managing Director, Tata Realty & Infrastructure Limited |
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Key questions
- What are the key factors for success in infrastructure projects?
- How consortia were formed, who were the key sponsor(s) and key participants?
- What obstacles were encountered and how were they overcome?
- How were projects financed? What role did financial sector (non-operating) participants play and how do they think about "exit" strategies?
- What are the most important lessons-learned from these projects?
| 12:45 - 1.45 pm | Interactive Session with Ministers of select States |
| Focus: Present investors with recommendations of how best to work with the States to identify and structure projects. Outline opportunities in some of the States represented | |
| Chairman: -Mr. Vinayak Chatterjee Chairman Feedback Ventures Pvt. Ltd. |
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| Mr. Jayant Patil Minister of Finance Government of Maharashtra |
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| Mr. Gajendra Singh Khimsar Minister of State for Energy Government of Rajasthan |
Key questions:
- How are states publicizing project opportunities to investors?
- What role are states playing in coordinating investor consortia? How are projects awarded?
- How are states innovating dispute resolution so that recourse to the courts is truly a last resort?
- What differentiates those states that have been most successful in attracting private investment in infrastructure?
- How is the national government working with states to ensure best practices in project development, legal framework and regulatory environment?
- What advice do the panelists have for successfully working with the states?
| 1.45-2:45pm (Sea Lounge + Gateway Room) |
Networking Lunch |
| 2:45-3:45pm | Public Private Partnership: The Way Forward |
| Focus:: Introduce investors to financing schemes under PPP and VGF. Panel discussion could also highlight financial institutions and local banks response to government initiatives, as well as IFI private sector activities to co-invest in private sector-led consortium. | |
| Chairman:- Dr. D. Subbarao Finance Secretary Government of India |
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| Mr. Ashok Chawla Secretary, Ministry of Civil Aviation Government of India |
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| Mr. M. Ramachandran Secretary, Ministry of Urban Development Government of India |
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| Mr. Anil Razdan Secretary, Ministry of Power Government of India |
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| Mr. Brahm Dutt Secretary, Ministry of Road Transport and Highways Government of India |
Key questions:
- How have public private partnership (PPP) frameworks evolved in India in recent years to support public investment in Infrastructure?
- How are states and municipalities utilizing these frameworks to attract private investment?
- How is the government supporting long-term, local currency debt financing of private infrastructure projects ventures through IIFCL?
- What is the Viability Gap Financing (VGF) scheme and how can it be leveraged to support private investment in infrastructure?
- What are the multilateral institutions doing to help "crowd-in" private investment in infrastructure?
- What advice do the panelists have for private investors who want to successfully make use of these initiatives?
| 3.45 - 4.15pm | Networking Break |
| 4:15 - 5.30 pm | Panel Discussion: How to Attract Private Investors |
| Focus: Private sector leaders from U.S. banks and private equity firms make recommendations to developers and State government officials on what they look for in projects (e.g., financial characteristics, project structures, etc.) Also discuss exit strategies for investments. | |
| Chairman:-Mr. James Lambright Chairman and President Export Import Bank of the United States |
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| Mr. Joseph Azelby Managing Director JP Morgan Chase |
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| Mr. Emil Henry Managing Director Lehman Brothers |
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| Mr. Richard H Frank Chief Executive Officer Darby Overseas Investments |
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| Mr. Tracy Wolstencroft Managing Director Goldman Sachs |
Key questions:
- What is keeping foreign (US) investors on the sidelines, or is this a misperception - are foreign investors already significant players in Indian infrastructure?
- Are there "India-specific" barriers (i.e., registration requirements) that prevent foreign investors from investing in India's infrastructure sector?
- Through what type of financing vehicles are financial investors most likely to invest? Are these options available to investors in India?
- What financial innovations (i.e., hedging instruments) would foreign investors need to address specific concerns (i.e., currency mismatch)?
- What are the key metrics for financial investors: hurdle rates, time horizons?
- How do financial investors think about exits, and how does this apply in the India context?