India - Partner In Growth
Welcome to the December 21, 2017  bulletin of key policy decisions and high-impact news, presented by the Embassy of India, Washington DC.
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KEY POLICY DECISIONS
Minister: India is Right Candidate for Special WTO Treatment

Commerce and Industry Minister Suresh Prabhu said that India is the right candidate for special and differential treatment by the World Trade Organization (WTO). Special and differential treatment is an integral part of the WTO, Prabhu says, and reflects the reality that some countries have low per capita income that cannot be ignored.  


PM Modi Commits $13 Billion for New Roads

Prime Minister Narendra Modi has committed $13 billion in the next two to three years to build a network of highways and roads in the northeastern region of India. Recommended By Colombia
"Lack of connectivity is one of the biggest hurdles in the path of development of the northeastern region," Modi said. "We aim for a transformation by transportation through investment in infrastructure in the region."

 
India to Have First National Employment Policy
 
India will soon have its first national employment policy that will outline a comprehensive road map for creation of quality jobs across sectors through economic, social and labor policy interventions. The multi-pronged employment policy will include incentives for employers to create more jobs, reforms to attract enterprises and help for medium and small-scale industries, which are major job providers.

 
FM Jaitley Calls for Radical Reforms in Judiciary, Education

Finance Minister Arun Jaitley has called for reforms in the judicial and education systems of the country, saying they are long overdue. He added that India's youth need to be adequately trained so that they became future leaders. "Radical reforms are needed in our judicial and educational systems. Reforms have been very belated in these two areas," Jaitley said. 

 
PM Modi: New Submarine is Best 'Make in India' Example

As he commissioned the INS Kalvari submarine into the Indian Navy, Prime Minister Modi called the new vessel "an excellent example of Make-in-India." INS Kalvari, a Scorpene-class sub described as a "deadly predator," is one of six built by Mazagon Dock Limited in Mumbai as part of Project-75 of the Indian Navy.

 
HIGH-IMPACT NEWS
Tata Links with GE to Make Jet Engine Parts in India

India's Tata group has partnered with General Electric to manufacture jet engine parts in Hyderabad, starting a broader plan to pursue military engine and aircraft system opportunities for the local market. GE Aviation and Tata Advanced Systems will manufacture, assemble and test aircraft components for the turbofan engines in a new center to be established in the city


 
India Poised to Win Back Fastest-Growing Economy Title

India is set to once again emerge as the fastest-growing economy in the world. A United Nations report says the country's economy is expected to grow at 7.2 percent in 2018 and 7.4 percent in 2019. This should put India on a path to overtake China.


How the U.S. Fed Rate Hike Affects India

The U.S. Federal Reserve's recent hike in interest rates will affect the Indian economy in a number of ways, ranging from foreign institutional investment flow to domestic interest rates, pressure on the rupee, impact on bonds and the share price of Indian companies.



Tillerson: U.S. Elevating Engagement with India

The U.S. has elevated its engagement with India as part of its effort to create a free and open Indo-Pacific region, Secretary of State Rex Tillerson said. Tillerson noted India's fast-growing economy and its shared regional security concerns with the U.S.



Top 2017 Govt. Wins: Moody's Upgrade, GST 

The Goods and Services Tax rollout, a huge improvement in the World Bank's annual ease-of-doing-business ranking and a sovereign rating upgrade by Moody's marked a successful 2017, Finance Minister Jaitley said, calling it a historic year for the ministry. He added there are "visible signs" of financial system cleansing from the Government's demonitization program.




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