Tag: Ajay Banga

  • Nowhere people of a nowhere world

    Nowhere people of a nowhere world

    THE GREAT GAME: The message from New Delhi is that those who break the law deserve the punishment they get

    “Former Foreign Secretary Shyam Saran calls it “uncivilized behavior on the part of the US.” Except, civility and good manners are already casualties of Naya America’s foreign policy. The manner in which Trump is overhauling the Middle East — Gaza, Palestine, Jordan — is unprecedented. India is keeping quiet because the hyper-realist policies that it has been propagating for some time now you only get involved when you are directly affected. And you are not directly affected in Gaza, Palestine and Jordan.”

    By Jyoti Malhotra

    February is fast turning out to be the cruelest month, with apologies to TS Eliot, on India’s foreign policy calendar.

    In the east, Bangladeshi lumpen youth, with no connection to either memory or even a desire for history, danced to the Bollywood song, “munni badnam hui,” as they participated in the burning of Bangabandhu Sheikh Mujibur Rahman’s home in Dhaka. Indians watched, horror-struck, at the hammer blow to what was once a glorious chapter in the lives of both countries — and couldn’t help asking, What now?

    And in the West, questions abound as PM Narendra Modi prepares to fly to the US to meet President Trump, barely days after 104 Indian nationals, shackled and cuffed, were deported back home. Another 487 are on their way. A sense of disquiet persists on whether the PM’s decision to go to the US in these circumstances is the right one.

    Many would say, yes of course. The India-US relationship remains the most important foreign policy relationship, notwithstanding Russia’s help with slashing the price of oil these recent post-Covid years. In support of this argument, a trade roadmap is on the cards when the PM visits, as is the likely announcement of India opening up the civil nuclear sector (after 17 years), while talk of Delhi buying more US defense equipment is gaining ground.

    Which is why External Affairs Minister S Jaishankar has travelled to the US thrice in the last four months, in September, December and January, so as to make the Modi-Trump meeting count. He has put out that the PM will be only one of the three leaders to have met Trump in his first month in power — Israel’s Netanyahu, Japan’s Ishiba and India’s Modi.

    Unfortunately, barely a week before Modi lands in DC, the news has not been very complimentary. Pictures of young Indian men in second-hand jeans and cheap Chinese shoes shuffling towards a US military plane because they have chains on their feet has sent waves of shock and awe across Punjab, if not the rest of the country.

    This, of course, is exactly what Trump wants. He wants to send the message to the world that he’s not interested in the great unwashed landing up at America’s doors — talented, skilled and accomplished brigades on H1-B visas are just fine.

    Nor does he seem to have time for saving face. If the Indian PM is coming to see you in a week, you should no longer expect that the news is good on the eve of your visit. Trump has already rewritten the rules of the world order in the few weeks he’s been around.

    Former Foreign Secretary Shyam Saran calls it “uncivilized behavior on the part of the US.” Except, civility and good manners are already casualties of Naya America’s foreign policy. The manner in which Trump is overhauling the Middle East — Gaza, Palestine, Jordan — is unprecedented. India is keeping quiet because the hyper-realist policies that it has been propagating for some time now you only get involved when you are directly affected. And you are not directly affected in Gaza, Palestine and Jordan.

    As for the 104 deportees, including women, who were shackled during their flight home earlier this week, the message from New Delhi is that those who break the law deserve the punishment they get. The US Border Patrol described them as “aliens,” and so they are.

    And yet, as Jaishankar spoke in Parliament on the deported Indians, admitting on record that he was “being bureaucratically correct,” one couldn’t help wondering what his predecessor, the late Sushma Swaraj, would have said when confronted with India’s present predicament — witnessing the humiliation of its poor and unskilled masses being rightfully punished for doing a very stupid thing.

    Sushma Aunty had so stirred the bureaucratic consciousness of the toughened bureaucrats of the Ministry of External Affairs (MEA) that they were forced to be kinder to the bluest-collar workers across the world. Reforms were ordered for the protection of emigrants, laws were toughened for those wanting to work abroad, immigration agents were forced to fall in line. Not that she cleaned up the entire system, but she certainly tried. She knew her fellow citizens were more often than not on the wrong side of the foreign law in question, but she demonstrated compassion. She offered them a hanky to cry when they got caught after knowingly breaking the rules.

    The current Modi government, instead, is throwing the rule book at these people. Moreover, the MEA is pointing out, these Punjabi folk who can spend Rs 45 lakh chasing the American dream are not exactly poor. Of course, the MEA is right. These 104 men and women knowingly bought that one-way ticket to Amreeka, well aware that the “dunki route” is what it was. And still they went. Problem is, they will still go if they get a chance, if only because they need to pay the loan their families took to send them to the US.

    But back to Modi and Trump and the importance of the India-US relationship. Apart from the fact that the PM seems keen on making that early connection with the President, the fact remains that both countries are increasingly invested in each other. From intelligence-sharing to defense and technology partnerships, via military foundational agreements that have been signed over the last 25 years — an alphabet soup called GSOMIA, LEMOA, COMCASA, BECA — India is so closely integrated with the US that it would not be far wrong to describe it as an “informal ally.”

    Some would say, why not? There are as many as 5 million US citizens of Indian origin, a hugely influential group. We celebrate them all. We wallow in the appreciation of Sundar Pichai and Satya Nadella and Indra Nooyi and Ajay Banga, as if they were part of our immediate family.

    The problem arises when the Punjabis from Doaba, the Haryanvis from Kaithal and the Gujaratis from Gandhinagar bomb this pretty picture — wearing handcuffs and all. What is worse is that no one, except their immediate families, want to own these Indians. The nowhere men and women of a nowhere world.
    (Jyoti Malhotra is Editor-in-Chief of The Tribune group of newspapers. She has been a journalist for 40 years, working in print, TV and digital, both in English and Hindi media, besides being a regular contributor on BBC Radio. She is deeply interested in the conflation between politics and foreign policy. Her X handle is @jomalhotra Insta handle @jomalhotra Email: jyoti.malhotra@tribunemail.com)

  • Indian -origin Ajay Banga, Satya Nadella, Alia Bhat, Sakshi Malik on TIME Magazine’s 100 Most Influential People list

    Indian -origin Ajay Banga, Satya Nadella, Alia Bhat, Sakshi Malik on TIME Magazine’s 100 Most Influential People list

    NEW YORK (TIP): Bollywood star Alia Bhatt, World Bank President Ajay Banga, Microsoft CEO Satya Nadella, and British actor with Indian roots, Dev Patel, have made it to Time magazine’s ‘100 Most Influential People’ list for 2024. Another prominent Indian who features in the list is wrestler Sakshi Malik, India’s only female Olympic medalist who led the protest against the alleged sexual harassment of female grapplers by former Wrestling Federation of India (WFI) chief Brij Bhushan Sharan Singh.
    “Proud to be included in the 2024 #TIME100 list,” Sakshi wrote on X.
    Tom Harper, the director of the streaming film ‘Heart of Stone’, Alia’s first Hollywood project, heaped praises on the actress, calling her a “truly international star”.
    “Despite her fame, Alia is self-effacing and funny on sets. There is a grace to the way she goes about her work: focused, open to ideas, and willing to take creative risks. One of my favorite moments in the film came from an improvisation at the end of a take where she took the emotional thread and ran with it.
    “Alia’s superpower is her ability to mix movie-star magnetism with authenticity and sensitivity. As an actor, she is luminous, and as a person, she brings the grounded assurance and creativity that make a truly international star.”
    Alia is the only Bollywood actor to feature in the Time magazine list.
    The other names with an India connect featured in the list include astronomer Priyamvada Natarajan, senior US Department of Energy official Jigar Shah, and chef and rights activist Asma Khan.
    The also features singer-songwriter Dua Lipa, Oscar-awardee American actress Da’Vine Joy Randolph, and Oscar-nominated actors Jeffrey Wright and Colman Domingo.
    Also featured in the list are film personalities Taraji P Henson, Elliot Page, Michael J. Fox, Sofia Coppola, and Hayao Miyazaki.
    (Source: IANS)

  • Five Indian Americans named to Time Magazine’s Inaugural List of Influential Leaders Driving Business to Real Climate Action

    Five Indian Americans named to Time Magazine’s Inaugural List of Influential Leaders Driving Business to Real Climate Action

    NEW YORK (TIP): The list, which draws attention to the people who are shaping and leading climate action, comes at a critical moment, ahead of the 2023 U.N. Climate Change Conference. Five Indian Americans are named in ‘TIME100 Climate,’ the magazine’s inaugural list of “the world’s most influential leaders driving business to real climate action,” released today (Nov. 16). While “climate leadership is ­embedded across all of our coverage today,” Time believes that “more could be done to draw attention to the people who are shaping and leading climate action.” The list, which the magazine calls “a community,” comes at a critical moment, ahead of the 2023 U.N. Climate Change Conference. Apart from being a community, the list is also “an argument for how we see the future,” Time says, “because we believe progress for the planet will come from the engagement with and leadership with the business world.”

    Geeta Aiyer, founder and president of Boston Common Asset Management, Rajiv J. Shah, president of The Rockefeller Foundation, Ajay Banga, who began his five-year term as World Bank Group president in June, Jigar Shah, the director of the U.S. Department of Energy Loan Programs Office, and Manoj Sinha, CEO and co-founder of Husk Power Systems (HPS) are the five Indian Americans named to Time Magazine’s Inaugural List of Influential Leaders Driving Business to Real Climate Action.

  • World Bank President Ajay Banga to attend G20 meeting in India

    World Bank President Ajay Banga to attend G20 meeting in India

    WASHINGTON, D.C. (TIP): World Bank President Ajay Banga will travel to India next week to attend the G20 Finance Ministers and Central Bank Governors Meeting in Ahmedabad, Gujarat, according to the development lender.
    This would be Banga’s first trip to India after he took over as the World Bank president last month.
    Gujarat is hosting four meetings of G20 in the first two weeks of July. These meetings will provide an opportunity for business representatives to share their perspectives, insights and policy recommendations on various economic and business-related topics and will play a very significant role in shaping global economic agendas and policies, according to officials.
    (Source: PTI)

  • Indian-origin, World Bank president, Ajay Banga named in ‘Great Immigrants’ 2023 list

    Indian-origin, World Bank president, Ajay Banga named in ‘Great Immigrants’ 2023 list

    NEW YORK (TIP): Ajay Banga, the President of the World Bank, has been named by a prestigious philanthropic organization to its annual “Great Immigrants” list of honorees who have enriched and strengthened America and its democracy through their contributions and actions.Banga, who became World Bank chief in June 2023, is the first-ever Indian American to lead the institution. He is the only honoree from India in this year’s list of ‘Great Immigrants’ by the Carnegie Corporation of New York.
    With over 30 years of experience in key positions, 63-year-old Banga is expected to usher in transformative policies at the World Bank to combat poverty and address climate change, opening opportunities for people around the globe, a statement issued by Carnegie on Wednesday said. During a fireside chat, Carnegie said Banga offered some reflections on how diversity helped him succeed as a leader: “At the end of the day, if you surround yourself with people who look like you, who walk like you and talk like you, and grew up in the same places you did and worked with you in your prior jobs, then you will have a sense of comfort of hiring people around you who have that familiarity. But you will also have the same blind spots. You will miss the same trends. You will miss the same opportunities.”
    Banga started his career in India, spending 13 years at Nestle India and two at PepsiCo. In 1996, he joined Citigroup, eventually leading the Asia-Pacific region as CEO.
    Later moving to the US, Banga served as president and CEO of Mastercard for 12 years before being named executive chairman. Under his leadership, Mastercard launched the Center for Inclusive Growth, which advances equitable and sustainable economic growth and financial inclusion around the world, the statement said.
    Prior to his appointment to the World Bank, Banga was the vice-chairman at General Atlantic. He is also a co-founder of the Cyber Readiness Institute and served as vice-chair of the Economic Club of New York.
    Among numerous honors, he was awarded the Foreign Policy Association Medal, the Padma Shri Award by the President of India, and the Ellis Island Medal of Honor.
    Every Fourth of July, which is celebrated as America’s Independence Day, the Carnegie Corporation of New York honors a group of “remarkable” Americans — all naturalized citizens — “who have enriched and strengthened our nation and our democracy through their contributions and actions”.
    This year, the corporation honors 35 individuals from 33 countries and a wide range of backgrounds. Among the honorees are individuals who have fostered opportunities for others through their work as educators, mentors, philanthropists, job creators, public servants, storytellers, and advocates.
    “The Great Immigrants initiative is a tribute to the legacy of Andrew Carnegie, a Scottish immigrant who, like these honorees, found success in America, contributed enormously to his adopted country, and inspired others to do the same,” said Dame Louise Richardson, president of Carnegie Corporation of New York. Carnegie Corporation of New York is a leading philanthropic foundation established by Scottish immigrant Andrew Carnegie and is now led by Irish immigrant Dame Louise Richardson. It celebrates the crucial role of naturalized citizens in making America a land of opportunity for all.

  • USAID Administrator Samantha Power meets World Bank President Ajay Banga; discusses climate finance, financial support to Ukraine

    USAID Administrator Samantha Power meets World Bank President Ajay Banga; discusses climate finance, financial support to Ukraine

    WASHINGTON, D.C. (TIP): USAID Administrator Samantha Power has met World Bank President Ajay Banga and discussed a slew of crucial matters, including climate finance, debt sustainability and economic support to Ukraine, according to an official statement.

    The meeting happened on Wednesday, June 7, and the two also discussed about Banga’s vision for the World Bank and the opportunities for more collaborations with United States Agency for International Development (USAID), given the scale of issues the world faces. “USAID Administrator Samantha Power met World Bank President Ajay Banga on Wednesday to discuss debt sustainability, climate finance, anti-corruption efforts, including how digitization initiatives can increase accountability, and economic support for Ukraine,” the statement said.

    According to a readout of the call, the two explored ways to engage the private sector in addressing global challenges, enhance job creation to generate sustainable economic growth, and strengthen internal measurement and evaluations to improve the effectiveness of aid and development efforts.

    Power and Banga also discussed access to multilateral finance for countries to build resilience before a disaster, respond effectively during the immediate aftermath, and rebuild post-disaster, said the statement.
    Samantha Power tweeted:
    Samantha Power
    @PowerUSAID
    Great to meet with Ajay Banga in his new role as president of
    @WorldBank
    We discussed his vision for tackling the many interconnected global challenges we face & our work together on issues including debt sustainability, anti-corruption & climate change. https://usaid.gov/news-information/press-releases/jun-07-2023-administrator-samantha-power-meets-world-bank-group-president-ajay-banga
    (With inputs from PTI)

  • Ajay Banga will be a transformative leader, says Biden

    Ajay Banga will be a transformative leader, says Biden

    WASHINGTON, D.C. (TIP): Ajay Banga will be a transformational leader, who will bring expertise, experience, and innovation to the position of World Bank president, US President Joe Biden said after the former Mastercard CEO was confirmed as the new head of the international financial institution. Ajay Banga on Wednesday, May 3, became the first-ever Indian-American to head the bank.
    “Ajay Banga will be a transformative leader, bringing expertise, experience, and innovation to the position of World Bank President. And together with World Bank leadership and shareholders, he will help steer the institution as it evolves and expands to address global challenges that directly affect its core mission of poverty reduction—including climate change,” Biden said.
    “Ajay will also be integral in bringing together the public and private sectors, alongside philanthropies, to usher in the fundamental changes in development finance that this moment requires,” said the president congratulating his nominee for the next President of the World Bank on his resounding approval by the Bank’s Board of Governors.
    Treasury Secretary Janet Yellen said Banga will play a critical role in undertaking a vital effort to evolve the World Bank and other multilateral development banks to redouble their work on global challenges like climate change in a way that accelerates progress on national development priorities.
    “His track record of forging partnerships between the public sector, private sector, and non-profits uniquely equips him to help mobilize private capital and press for the reforms needed to meet our shared ambitions. In doing so, the World Bank can serve as a force multiplier for good by setting the right agenda and catalyzing action from across the spectrum,” she said. After he was nominated for this position by Biden, Banga spent the last couple of months travelling around the world meeting with governments from the World Bank’s diverse shareholder base and stakeholders from both the private and philanthropic sectors.
    “Today’s vote is an indication that he’s gained widespread support from across that shareholder base with resounding approval from the shareholders. Ajay himself is a business leader with decades of experience leading large global organizations forging public private partnerships to address financial inclusion and climate change,” a senior administration official told reporters.
    “We are confident that Ajay is going to play a key role in steering the World Bank to evolve itself to address global challenges like climate change, pandemics, fragility conflict, or effectively at greater scale, and in doing so will help fulfill the President’s vision and the priorities placed around exactly those goals,” the official said. “While the World Bank will continue to play a key role in improving the lives of people around the globe. I can’t do it alone, and Ajay’s track record of forging partnerships between the public sector and the private sector and nonprofit uniquely equipped to help mobilize the private capital and press for the reforms needed to meet our shared ambition,” said the official.Another senior official told reporters that it is a really good day for the World Bank. “And it’s a really good day for the countries and the people who seek to partner with the World Bank, particularly in a very difficult time for emerging and developing countries. Awe think he is the right person for this moment, including on a very important and weepy evolution agenda that might describe that well,” the official said.

    The President of the World Bank Group is also the Chair of the Board of the Executive Directors of the International Bank for Reconstruction and Development. The President is also ex officio chair of the Board of Directors of the International Development Association, International Finance Corporation, the Multilateral Investment Guarantee Agency, and of the Administrative Council of the International Centre for Settlement of Investment Disputes.

    Raised in India, Banga has a unique perspective on the opportunities and challenges facing developing countries and how the World Bank can deliver on its ambitious agenda to reduce poverty and expand prosperity, President Biden had said.
    (With inputs from PTI)

  • Ajay Banga is uniquely equipped to lead the World Bank at such a critical moment: US

    Ajay Banga is uniquely equipped to lead the World Bank at such a critical moment: US

    WASHINGTON, D.C. (TIP): Indian-American business leader Ajay Banga is an exceptional candidate and he is uniquely equipped to lead the World Bank at such a critical moment, the US has said as the bank plans to formally announce his appointment as its president. In February, President Joe Biden announced that the US would be nominating Banga to lead the World Bank because he is well equipped to lead the global institution at “this critical moment in history.” On March 31, The World Bank closed a month-long window for nominations for its next president, with no alternatives announced to 63-year-old Banga.

    Banga is the only applicant for the position of president of the World Bank, the global financial institution said.

    “He (Banga) is uniquely equipped to lead the World Bank at such a critical moment, and he’s an exceptional candidate,” Vedant Patel, State Department Principal Deputy Spokesperson, told reporters at his daily news conference on Friday. “His leadership skills and management experience, his experience in the financial sector, will help achieve the World’s Bank objectives by eliminating extreme poverty, and expanding prosperity, while also doing so in a very evolving and dynamic global playing field, where we’re dealing with a lot of new and pressing issues and challenges, like climate change and global health challenges and other things as well,” Patel said. The former Mastercard Inc. chief, Banga currently serves as Vice Chairman at General Atlantic.

    A new leader of the World Bank is expected to be chosen by early May. Raised in India, Banga has a unique perspective on the opportunities and challenges facing developing countries and how the World Bank can deliver on its ambitious agenda to reduce poverty and expand prosperity, President Biden had said.

    He has also worked closely with Vice President Harris as the Co-Chair of the Partnership for Central America.

    He was awarded the Padma Shri in 2016. Banga is expected to take over the reins of the anti-poverty lender at a crucial time, with the US and Western nations pitching for reforms to focus on addressing a slew of wide-ranging global issues like climate change.

  • Coalition of Nobel laureates, economists & academics endorse Ajay Banga for World Bank president

    Coalition of Nobel laureates, economists & academics endorse Ajay Banga for World Bank president

    WASHINGTON, D.C. (TIP): A coalition of 55 leading academics, economists, including three Nobel laureates, have endorsed the nomination of Indian-American Ajay Banga as the next President of the World Bank, describing him as the right person to lead the international financial institution as a “force multiplier” at a critical moment for the world economy.
    Banga, 63, was nominated by US President Joe Biden as the next President of the World Bank last month.
    In an open endorsement letter published on Thursday, 55 advocates, academics, executives, luminaries, and former government officials supported the business leader’s nomination to the post of President of the World Bank, indicating that the former MasterCard CEO’s candidacy is gaining ground.
    The four Nobel laureates to endorse Banga are Dr Joseph Stiglitz, recipient of the 2001 Nobel Prize in Economic Sciences; Dr Michael Spence, recipient of the 2001 Nobel Prize in Economic Sciences and Professor Muhammad Yunus, recipient of the 2006 Nobel Peace Prize.
    “A truly global citizen, Ajay has extensive experience living and working in developing economies. Importantly, as a leader with a deep appreciation for the global south, he intuitively understands that economic growth can only be sustained if people and nature thrive together, not apart,” the letter said.
    It added that Banga understands the World Bank must serve as a force multiplier by setting the correct agenda and then catalyzing action across governments, the private sector, multilateral development banks, civil society, and philanthropies. “Banga possesses a rare combination of leadership; track record of building successful alliances across the public, private, and social sectors; and experience working in developing countries for tackling some of the most critical challenges facing our world,” the endorsement letter added.
    “He is the right person to lead the World Bank at this critical moment,” the open letter from the world leaders of diverse backgrounds said.
    “Ajay built a regenerative agriculture partnership in Latin America to help farmers shift their practices toward long-term sustainability in a region at high-risk for climate disaster,” the letter said, adding that the business leader also shaped a crop insurance programme with the World Food Bank and a coalition of private and social sector partners, to insure two million farmers against the risks of climate disaster. As an advisor to General Atlantic’s climate-focused fund, BeyondNetZero, Banga played a key role in promoting investments in companies leading EV charging and solar power solutions for off-grid populations in Africa and India.
    “While at Mastercard, many of us saw first-hand how Ajay advanced financial inclusion and expanded access to the digital economy globally and especially in Africa.” the letter said, adding that by working with governments and civil society, Banga committed to bringing 500 million previously unbanked into the digital economy.
    “Included in this has been a commitment to bringing more women into the global economy-recognizing that women play an essential role in sustainable development solutions,” the letter of support said. Banga is currently on a global listening tour with visits to Cote d’Ivoire and Kenya. Both countries have endorsed his candidacy for World Bank President.
    He will head to Europe for meetings in London and Brussels, including a climate-focused roundtable.
    On a listening tour in London on March 9 and 10, Banga met senior government officials and civil society leaders in a meeting focused on development. He also convened leaders from the financial sector for a roundtable discussion focused on expanding climate finance.
    Banga will meet with senior government officials from a cross-section of European Union member states in Brussels, Belgium March 13 and 14. The conversations will focus on how the Bank can best meet its core development goals while addressing global challenges like climate change, pandemics, and fragility.
    “If elected to serve, Banga will draw from his experience living and working in emerging markets and his expertise in forging public-private partnerships to mobilize investments and action to confront longstanding challenges,” a statement by the Department of Treasury said.
    “That includes his efforts at Mastercard to successfully bring 500 million previously unbanked people into the digital economy, as well as its support for 50 million small businesses,” the statement said.
    Banga currently serves as Vice Chairman at General Atlantic. He was awarded the Padma Shri in 2016. If confirmed by the World Bank Board of Directors, Banga would be the first-ever Indian-American and Sikh-American to head either of the two top international financial institutions: the International Monetary Fund and the World Bank.

  • Biden nominates Indian-American Ajay Banga for World Bank president

    Biden nominates Indian-American Ajay Banga for World Bank president

    WASHINGTON, D.C. (TIP): President Joe Biden on Thursday, February 23, announced that the US is nominating Ajay Banga to lead the World Bank, saying the Indian-American business leader is uniquely equipped to lead the global institution at “this critical moment in history”. If confirmed by the World Bank Board of Directors, Banga would be the first-ever Indian-American and Sikh-American to head either of the two top international financial institutions: International Monetary Fund and the World Bank.

    Banga, 63, currently serves as Vice Chairman at General Atlantic. Previously, he was President and CEO of Mastercard, leading the company through a strategic, technological and cultural transformation. He was awarded the Padma Shri in 2016.

    “Ajay is uniquely equipped to lead the World Bank at this critical moment in history,” President Biden said in a statement.

    “He has spent more than three decades building and managing successful, global companies that create jobs and bring investment to developing economies, and guiding organizations through periods of fundamental change,” Biden said.

    Banga has a proven track record managing people and systems, and partnering with global leaders around the world to deliver results, he said. He also has critical experience mobilizing public-private resources “to tackle the most urgent challenges of our time, including climate change,” the US President said. Raised in India, Banga has a unique perspective on the opportunities and challenges facing developing countries and how the World Bank can deliver on its ambitious agenda to reduce poverty and expand prosperity, he added.

    The White House said Banga is a business leader with extensive experience leading successful organizations in developing countries and forging public-private partnerships to address financial inclusion and climate change.

    According to the White House, over the course of his career, Banga has become a global leader in technology, data, financial services and innovating for inclusion. He is honorary chairman of the International Chamber of Commerce, serving as chairman from 2020-2022. He is also chairman of Exor and independent director at Temasek. He became an advisor to General Atlantic’s climate-focused fund, BeyondNetZero, at its inception in 2021.

    He previously served on the Boards of the American Red Cross, Kraft Foods and Dow Inc. Ajay has worked closely with Vice President Kamala Harris as the Co-Chair of the Partnership for Central America.

    He is a member of the Trilateral Commission, a founding trustee of the US-India Strategic Partnership Forum, a former member of the National Committee on United States-China Relations, and Chairman Emeritus of the American India Foundation.

    Banga is a co-founder of The Cyber Readiness Institute, Vice Chair of the Economic Club of New York and served as a member of President Barack Obama’s Commission on Enhancing National Cybersecurity. He is a past member of the US President’s Advisory Committee for Trade Policy and Negotiations.

    He was awarded the Foreign Policy Association Medal in 2012, the Ellis Island Medal of Honor and the Business Council for International Understanding’s Global Leadership Award in 2019, and the Distinguished Friends of Singapore Public Service Star in 2021.

    (Source: PTI)

  • Vice President Kamala Harris meets with Partnership for Central America Leaders Ajay Banga and Jonathan Fantini Porter

    Vice President Kamala Harris meets with Partnership for Central America Leaders Ajay Banga and Jonathan Fantini Porter

    WASHINGTON (TIP): Vice President Kamala Harris, on September 5, spokewith Ajay Banga, Executive Chairman of Mastercard and Board Member of the Partnership for Central America (PCA) and Jonathan Fantini Porter, PCA’s Executive Director, about their work in El Salvador, Guatemala, and Honduras and applauded their efforts to increase private sector investment and improve livelihoods in the region in partnership with the Department of State, USAID, and other agencies. The Vice President shared her vision for the Root Causes Strategy and the Call to Action she announced in May, updates from her trip to Guatemala and Mexico in June and discussed ways to continue working together. In addition, they also discussed her trip to Singapore and Vietnam.

    The Partnership for Central America is a non-profit organization created in response to a Call to Action by Vice President Kamala Harris, in her role overseeing diplomacy towards the Northern Triangle and Mexico. The Partnership aims to coordinate practical solutions to advance economic opportunity, address urgent climate, education and health challenges, and promote long-term investments and workforce capability in support of a vision of hope for Central America.

    Partnership members will make significant commitments to help send hope to the people of the region and sustainably address the root causes of migration by promoting economic opportunity.

    (Source: Partnership for Central America)

  • Indian Americans number over 40 in Indiaspora Philanthropy Leaders List 2021

    Indian Americans number over 40 in Indiaspora Philanthropy Leaders List 2021

    WASHINGTON (TIP): Over 40 Indian Americans figure in the 2021 Indiaspora Philanthropy Leaders List recognizing one hundred Indian and diaspora leaders who have made a significant impact with their philanthropic contributions and engagement.

    Indiaspora, a nonprofit community of global Indian leaders from diverse backgrounds and professions, released their list of those who are making a difference through their giving at two virtual sessions on Thursday.

    Both launch sessions, focused on the Diaspora and India, featured conversations with honorees and leaders in the philanthropy ecosystem.

    Prominent Indian Americans on the list include Anna and Raj Asava, Founders, HungerMitao USA, Ajay Banga, Executive Chairman, Mastercard, Deepak Chopra Founder and CEO, Freedom Employability Academy USA, Frank Islam and Debbie Driesman, Founders Frank Islam and Debbie Driesman Foundation USA and Vinod Khosla, Founder, Khosla Ventures.

    “It is incredibly inspiring to see so many philanthropists from our community who have translated their success into social impact,” said Indiaspora Founder MR Rangaswami. “These leaders serve as an example of the importance of generosity and remind us of the many issues that need our attention.”

    With guidance from nine jurors and drawing from multiple sources, including reputed studies, earlier verified lists, and publicly shared documents, Indiaspora’s 2021 Philanthropy Leaders List recognizes Indian and diaspora leaders across the globe for their philanthropic contributions and engagement, according to an Indiaspora media release.

    “It was very gratifying to be a part of this effort, and I appreciated the careful consideration given to each honoree by those who were involved,” said Sara Kalim, Director of Development at Somerville College and one of the jurors.

    “As someone who works in the development space, I see firsthand how philanthropy can transform lives for the better. This list shines a light on the tremendous power of giving.”

    With more than 32 million people of Indian origin globally, according to India’s Ministry of External Affairs, Indians are the largest diaspora population in the world.

    Indiaspora’s 2021 Philanthropy Leaders List includes philanthropists from India (26) and from geographies with significant diaspora migration, including the United States (43), the United Kingdom (17), Canada (5), the United Arab Emirates (8), Singapore (10), and Australia (2).

    Several of these philanthropists stepped forward to give during the Covid-19 crisis.

    “Covid-19 taught us that businesses, nonprofits, government, and philanthropy all play a critical role in lifting the communities they serve and operate in during times of crisis,” said Prem Watsa, Founder and CEO of Fairfax Financial Holdings and one of the honorees on the List.

    “Indiaspora’s Philanthropy Leaders List serves as a reminder to the diaspora to continue the important work of giving even once the crisis abates so our communities can meet future challenges.”

    The List includes names from various industries including technology, entertainment, finance, and the law, among others, who are using their philanthropy to address issues such as access to healthcare, quality education, water and sanitation, arts and culture, food insecurity, and employability.

    “I hope the diaspora will continue to give forward, and even more boldly,” said Rohini Nilekani, Founder-Chairperson of sustainable water and sanitation nonprofit Arghyam, who is also an honoree on the List.

    “It is both inspiring and critical to resolve many old and emerging societal challenges in India.”

    Indiaspora’s 2021 Philanthropy Leaders List is one of several of the organization’s philanthropy-focused initiatives.

    Other initiatives include ChaloGive, an online giving campaign that raised more than $3.5 million in 2021 to provide COVID relief in India, and the Philanthropy Summit, an annual event that brings together nonprofits, foundations, philanthropists, and others in the social impact space to share learnings regarding Indian and diaspora philanthropy.

    “This is a transformative moment for philanthropy,” said Ashish Shah, Senior Director of Philanthropy and Community Engagement at Indiaspora.

    “The purpose of our philanthropy work is to galvanize the Indian diaspora to elevate its level of giving in the next decade, and Indiaspora’s 2021 Philanthropy Leaders List is an important step towards building a culture of philanthropy.”

    Indian Americans on 2021 Indiaspora Philanthropy Leaders List
    1. Monte Ahuja, Chairman and CEO, MURA Holdings, LLC USA
    2. Anna and Raj Asava, Founders, HungerMitao USA
    3. Ajay Banga, Executive Chairman, Mastercard
    4. Manoj Bhargava, Founder and CEO, Living Essentials,
    5. Aneel Bhusri, Co-founder and CEO, Workday
    6. Allison Bhusri, Founder, Lemonade Capital USA
    7. Sumir Chadha Co-founder and Managing Director, WestBridge Capital Partners USA
    8. Deepak Chopra Founder and CEO, Freedom Employability Academy USA
    9. Bharat Desai and Neerja Sethi, Co-founders, Syntel, Founders, Desai Sethi Foundation USA
    10. Desh Deshpande, President and Chairman, Sparta Group LLC, Co-founder, Deshpande Foundation
    11. Jaishree Deshpande, Treasurer, Sparta Group LLC; Co-founder and Trustee, Deshpande Foundation; USA
    12. Anil and Gautam Godhwani, Co- founders, Simply Hired, Habitera, and AtWeb; Co-founders, India Community Center
    13. Prabhu and Poonam Goel Co-founders, Foundation for Excellence USA
    14. Vijay Goradia, Founder, Vinmar International Ltd; Goradia Capital Co-founder, Pratham
    15. Marie Goradia, Co-founder, Pratham USA
    16. Raj Gupta, Chairman, Aptiv PLC, Avantor Inc, Founder, Ujala Foundation USA
    17. Venky Harinarayan, Founder, Junglee & Kosmix, Founding investor, Efficient Frontier Co-founder, Cambrian Ventures USA
    18. Frank Islam, Founder, FI Investment Group, Founder, QSS Group
    19. Debbie Driesman, Vice President, Frank Islam and Debbie Driesman Foundation USA
    20. Vinod Khosla, Founder, Khosla Ventures
    21. Neeru Khosla, Co-founder and Executive Director, CK-12 Foundation USA
    22. Lata Krishnan, Co-founder, Krishnan-Shah Family Office, Founder & Co-chair, American India Foundation
    23. Ajay Shah, Co-founder and Managing Partner, Silver Lake Sumeru USA
    24. Dinakar Singh, Founding Partner, TPG-Axon Capital, Co-founder, SMA Foundation
    25. Loren Eng, Co-founder, SMA Foundation USA
    26. Deepak and Neera Raj, Founder & Managing Director, Raj Associates, Chairman, Pratham USA and Indian Philanthropy Alliance USA
    27. Anand Rajaraman and Kaushie Adiseshan, Founding Partner, Rocketship.vc, USA
    28. Raju Reddy, Founder and former CEO, Sierra Atlantic Co-founder, Kakatiya Sandbox USA
    29. Rao and Satya Remala, Founders, Satya and Rao Remala Foundation USA
    30. Nalini Saligram Founder and CEO, Arogya World USA
    31. Manu and Rika Shah, Co-founders, MSI, Sarva Mangal Family Trust USA
    32. Sanjay Shah, Founder, CEO, and Chief Architect of Vistex; Founder, Vistex Foundation USA
    33. Ram Shriram Chair and Trustee, Dhanam Foundation USA
    34. Chandrika Tandon, Founder and Chair, Tandon Capital Associates
    35. Ranjan Tandon, Founder and Chairman, Libra Advisors USA
    36. Romesh Wadhwani, Founder and CEO, SymphonyAI Group, Founder and Chairman, Wadhwani Foundation USA
    37. Sunil Wadhwani, Managing Partner, SWAT Capital, Founder Donor, WISH Foundation (Wadhwani Initiative for Sustainable Healthcare) USA.