| 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. |
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Reserve Bank Injects $10.6 Billion of Liquidity Into System  To ensure adequate liquidity going forward, the Reserve Bank of India is injecting $10.6 billion into the Indian financial system. The Bank announced a buyback of government securities worth about $2.5 billion. The buyback combines with an additional $8.1 billion planned infusion through a term repo auction to produce a total of $10.6 billion of new liquidity, increasing stability. 
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Steel Import Rules Eased to Speed Infrastructure Growth The government has cut red tape and made it easier to import steel and steel products in an effort to expand and speed up infrastructure growth. Prior to the change, steel exporters seeking to sell in India were required to provide quality certificates from a certifying body in the steel's country of origin. Now, certificates from any approved international certifying body will be accepted.
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Reserve Bank Hikes Trade Transaction Limit
The Reserve Bank of India raised the trade-related remittance limit per transaction, following an increased number of transactions handled by Exchange Houses. The hike is the result of higher volume and faster communications technology. 
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India Looking to Join Global Bond IndicesIndia is constantly looking for opportunities to join global bond indices, a top finance ministry official said. A recent Standard Chartered report said India's inclusion in such a government bond index, which is tracked by large fund managers, could result in capital inflows of up to $40 billion per year.
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Why the U.S. Needs IndiaAmerican business stands to gain from a robust U.S.-India commercial and strategic partnership, says USIBC President Ron Somers. Trade between India and the U.S. has grown from $25 billion in 2006 to $100 billion last year. Both countries have recovered from a disastrous global recession and business could be even better, if the U.S. takes advantage of India's pro-U.S. sentiment: A recent Pew poll reports 74% of Indians have a favorable view of the U.S.
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Indian Investment Abroad Tops $29 Billion So Far in 2014
Outward foreign direct investment from the country, which was in decline in recent years, has seen some signs of recovery this year with total deal value touching $29.3 billion so far in fiscal year 2014. This highest Indian investments in foreign ventures came in the transportation, storage and communications sectors, with manufacturing close behind.
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Boeing, Airbus, KPMG Like Future of Indian Aviation MarketBoeing and Airbus Group each raised their outlook on airplane sales in India, agreeing the country will need more than 1,000 new planes by 2032 as millions of middle-class Indians fly for the first time. Meanwhile, global consultancy KPMG said that India's fast-growing civil aviation sector, already among the top 10 globally, could be number one worldwide by 2030.
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Panasonic to Make India a Regional HubConsumer electronics giant Panasonic is making its Indian operations a regional hub, in charge of markets in the Middle East, Africa and neighboring countries beginning in coming weeks. The Japanese firm is looking to leverage India's emergence as a manufacturing hub and its strategic location, as it becomes the sixth of Panasonic's global regions.
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Big U.S. Banks Bullish on Indian Growth
Two big U.S. banks expressed their bullishness on India's financial future in separate reports. Goldman Sachs upgraded the country to "overweight," thanks to reducing external vulnerabilities, and said it expects India's benchmark Nifty index to reach 7,600. Meanwhile, Morgan Stanley revised up its 2014 Indian GDP forecast to 5.2 percent. |
Tata Group Plans $8 Billion Infrastructure PushThe Tata Group is planning to spend at least $8 billion building roads, airports and housing, betting a stable administration after India's coming elections will lead to a new wave of infrastructure development. The initiative from Tata underscores the hope among Indian firms that infrastructure project approvals and spending will pick up when a new government is formed after elections ending in mid-May.
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