| Welcome to the latest bulletin of key policy decisions and high-impact news from India, presented by the Embassy of India, in Washington D.C. |
U.S. Secretary of State Kerry: Strategic and Historic Opportunities Between India and the U.S.
 U.S. Secretary of State John Kerry said that it is a "potentially transformative moment" for relations between India and the United States, as the two countries are determined to deliver on the "strategic and historic opportunities" they can create together. There is a "new government in India, with a new set of priorities, and new possibilities," Kerry said in a speech, setting up the tone for his upcoming visit to India for strategic dialogues .
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U.S. Commerce Secy. Pritzker: We're Keen to Invest in Infrastructure, Manufacturing
 The U.S. has expressed a desire to share its expertise in infrastructure and manufacturing with India to build on growing trade ties. U.S. Commerce Secretary Penny Pritzker said trade between India and the U.S. has grown more than five-fold since 2000 to $96 billion with American companies investing $28 billion in India while Indian investment in the U.S. has hit $9 billion, supporting about 45,000 jobs.
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At $321 Billion, Forex Reserves Near Record
The Reserve Bank of India's efforts to buy dollars from the market to give stability to the rupee over the past few months have pushed up India's foreign exchange reserves to within a touching distance of its all-time high level of $321 billion, new data show.
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Amazon to Invest $2 Billion More in India
 Amazon will invest an added $2 billion in India as the e-commerce giant ramps up business in the country. "With this additional investment of $2 billion, our team can continue to think big, innovate, and raise the bar for customers in India. At current scale and growth rates, India is on track to be our fastest country ever to a billion dollars in gross sales," chief executive Jeff Bezos said. |
India Hit $14.1 Billion in Steel Sales from April '11 to June '14
The country earned $14.1 billion from steel exports from April 2011 to June 2014, the Government said. The revenue earned through exports of alloy, non-alloy and semis between April 2014 and June 2014 stood at $1.3 billion, Minister of State for Steel and Mines Vishnu Deo Sai told the Lok Sabha.
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Honda to Set Up World's Largest Scooter Plant in Gujarat
 Honda Motor is setting up the world's largest scooter plant in Gujarat to roll out 1.2 million units annually and achieve leadership position in the Indian two-wheeler market.
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Govt. Approves Setting Up 12 Mega Food Parks
The Government has approved setting up 12 mega food parks during the 12th Plan period (2012-17) and will allot $281 million to boost the food processing sector. The plan would spur the creation of infrastructure in the country and promote efficient supply chain management.
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Tax Breaks for IT Firms That Have Moved to Special Economic Zones
 In a significant relief to the IT industry, the Central Board of Direct Taxes has said IT firms that shifted operations to special economic zones will be able to enjoy tax breaks under the plan as long as their transferred technical manpower to the new unit is less than 20% of the existing workforce.
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All Single-brand Retail Applications to be Processed in 90 Days
The Department of Industrial Policy and Promotion, which has responsibility for the first vetting of foreign direct investment proposals in Indian retail, has said that all applications must be processed within 90 days to cut red tape and break bureaucratic logjams.
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Cabinet OKs 3 Amendments to promote Labor Reforms
The Modi Government's vision for labor reforms moved a step forward as the Union Cabinet approved amendments proposed to three key labor laws that will ensure fairness for both employers and employees.
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Govt. Sets Up Skill Development Agency for Youth
The Government has set up a National Skill Development Agency to coordinate and harmonize its skill development efforts with the private sector, said Minister of State for Labour and Employment Vishnu Deo Sai. Government has set a target to develop skills of 500 million people by 2022 under the National Policy on Skill Development.
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Policy Aims to Boost Textile Industry $650 Billion Size
 The draft new Textiles Policy has set an ambitious target of achieving 20 percent share of global trade and helping the domestic industry attain a size of $650 billion by 2024-25 by focusing on investments, skill development and labor law reforms
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