Page 48 - IACC Newsletter March 2013 Issue no. 9

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These lobbying activities of the companies and industry bodies have been disclosed by their registered lobby firms in
their mandatory quarterly filings with the US Senate for the quarter ended March 31, 2013.
Together, these companies and industry bodies have so far disclosed having spent more than $13 million on their
lobbying activities during the first quarter of 2013, but they did not disclose the break-up of the expenses on lobbying on
matters related to India and other issues.
Most of these entities have disclosed lobbying on a wide range of issues, with India-related matters being one of them.
Late last year, disclosures about retail giant Walmart's lobbying with the US lawmakers for its India entry had generated
a political storm in India. The disclosure reports are currently being probed by a one-man probe panel in India, whose
term was last week extended by one month till May 31.
As per Congressional records of lobbying disclosure reports, Walmart spent a total amount of $6.13 million (about R33
crore) on lobbying for various issues, including on “discussions related to FDI in India”, during entire 2012. However, the
company\'s lobbying disclosure report for the first quarter of 2013 is yet to be made public.
Lobbying by the companies and their representatives is a legal activity in the US, but they have to make a disclosure
about the same on a quarterly basis.
The disclosures for the preceding quarter are generally filed with the senate by the third week of the first month of
every quarter and more filings are expected to be submitted in the next couple of days. A host of the companies
lobbying on India-related issues have persons of Indian origin as one of the lobbyists presenting their case before various
government departments, Senate and the House of Representatives. As per their disclosures, the specific lobbying issues
for Boeing and Morgan Stanley during the first quarter of 2013 included “US-India relations”, while the same for Pfizer
were “India trade issues” and “India treatment of intellectual property”.
Indian e-commerce ventures will have to pass profitability test: William Ford,
CEO, General Atlantic
Post big exits from Genpact & Patni Computers, he sees the next wave from big data firms like Mu Sigma, mobile cos,
legal outsourcing firms and local consumer brands. William "Bill" Ford can be both a rainmaker private equity growth
investor and a 4 am friend. But if his warm, open smile, prominent laugh lines and boyish candour does not sway you,
maybe his Midas track record will.
He is one of the youngest non-founder CEOs in an otherwise regimented world of private equity; in thirteen years this
former Morgan Stanley technology banker has found himself in the corner office, rising from the ranks as an associate.
He has successfully spotted emerging trends - first in cool tech companies and then in consumer and business services
firms globally -- and made smart money for the 50 wealthy families that sponsor his fund General Atlantic (GA). Here's a
sampler: He invested $130 million in Archipelago Exchange and made five-and-a-half times his money selling to the New
York Stock Exchange in 2006.
In India, GA has been an outlier. Among the first to set up shop in 2002 spotting the potential of local first generation
entrepreneurs and remaining consistently bullish since. So far, GA has put in over a billion in 14 companies and returned
$1.4 billion with stellar exits from Genpact and Patni Computers. The first two and now Mu Sigma - the hottest big data
analytics shop - has crossed a billion dollar valuation under their watch.
So even today when regulatory and policy logjams have punctured the India story and bruised PE investors are struggling
to clock moderate returns on their investments, GA is taking a contrarian call.
"I am personally bullish on India. We are looking to deploy $400-500 million in growth capital in the next 2-3 years," says
"Bill" Ford.