The US-India Strategic and Partnership Forum (USISPF) has embraced a new chapter in its pursuit of enhancing US-India economic collaboration by appointing the esteemed former Revenue Secretary and ex-Secretary of Economic Affairs, Tarun Bajaj, as the chair of the US-India Tax Forum. This move comes as a strategic action to bolster the growing economic ties between the two powerhouse nations.
At 61 years of age, Tarun Bajaj, whose experience spans multiple facets of finance and taxation, has recently stepped into a new role within the USISPF, having been an advisor since January. His latest appointment marks a significant opportunity for him to guide the US-India Tax Forum towards fostering a more symbiotic and business-friendly tax environment between the United States and India. The announcement, made on a Tuesday, underscores the importance of his leadership for steering future fiscal agendas and economic strategies.
Mukesh Aghi, the President and CEO of USISPF, voiced his support, highlighting Bajaj’s inimitable expertise as the driving force behind the Forum’s mission. “With his extensive experience and profound expertise in finance and taxation, Tarun stands as an ideal candidate to steer our efforts forward. His adept leadership in shaping fiscal and tax policies and navigating intricate economic terrains will fortify our mission of nurturing strong economic bonds between the United States and India,” Aghi stated.
As a member of the elite 1988-batch Haryana Cadre IAS officer circle, Bajaj has garnered respect and acclaim for his role as Revenue Secretary. His significant contributions during his tenure with the Indian government include pivotal involvement in the crafting of fiscal policies and active participation in promoting economic growth. Bajaj’s expertise was particularly evident as he managed both the direct and indirect tax revenues for the Government of India, playing a crucial role in the stabilization of the Goods and Services Tax (GST), a landmark reform in the Indian taxation system.
Moreover, Bajaj’s impact resonated deeply during the unprecedented challenges posed by the pandemic. He was instrumental in formulating India’s economic response to the crisis, which included deploying various relief measures and economic stimulus packages aimed at mitigating the impact on the nation’s economy.
Expressing gratitude and ambition upon his new role, Bajaj remarked, “I am honoured to lead the US-India Tax Forum under the auspices of USISPF. It’s a pleasure to have joined USISPF as Advisor to the Board this year, and in my new role, I look forward to making my contribution to make the US-India Tax Forum a robust and effective institution that companies can rely on and an institution that can engage effectively with all the stakeholders.”
The US-India Tax Forum itself was officially launched on February 25, 2020. It was established as an initiative to provide a collaborative and progressive platform for member companies to engage directly with pertinent government officials on tax-related matters that affect their operations within the US-India business corridor.
Also serving as a hub for discussions about the future of taxation, the Forum advocates for the enhancement of the ease of doing business environment. Through its activities, the forum becomes a vehicle for businesses and governments globally to work together towards better tax policies and regulations.
Currently hosting approximately 350 member companies, the US-India Tax Forum has emerged as the preeminent tax platform fostering dialogue and cooperation among Indian policymakers, global tax experts, and the broader business community. The goal is not only to advocate for better tax policy but also to strengthen the all-important relationship between two of the world’s largest democracies and economies.
In sum, Bajaj’s appointment symbolizes a significant step in expanding economic interactions between the United States and India. His vast experience and impeccable credentials are expected to guide the US-India Tax Forum towards achieving new heights in international tax cooperation and economic diplomacy.
