India - Partner In Growth
Welcome to the November 3, 2016 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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KEY POLICY DECISIONS
Govt. Shows Progress of Indian States' Business Reforms
The Government's Department of Industrial Policy and Promotion, in partnership with the World Bank, has released the results of the Assessment of State Implementation of Business Reforms 2015-16. The Assessment shows how states have implemented the Government's 340-point Business Reform Action Plan. The Indian states of Andhra Pradesh and Telangana lead with the most implemented reforms.
 
New World Bank Doing Business Report Recognizes India's Achievements
The World Bank's annual Doing Business 2017 report recognizes India's achievements in implementing reforms in four of its 10 indicators - Trading Across Borders, Getting Electricity, Enforcing Contracts and Paying Taxes. This is the first time in its history that India has been recognized for improvement in four indicators. 

Govt. OKs 100% FDI in More Financial Services
The Commerce and Industry Ministry has approved 100 percent foreign direct investment (FDI) in "other financial services" carried out by non-banking finance companies. The move will help attract foreign capital into the country and is in line with Prime Minister Modi's efforts to increase FDI into India.

NITI Aayog Launches 1st Agricultural Reforms Index
NITI Aayog (National Institute for Transforming India), has launched its first Agricultural Marketing & Farm Friendly Reforms Index. It has identified three key areas for reform and is now persuading states to undertake the reforms. The targets for immediate reforms are agricultural market reforms, land lease reforms and reforms related to forestry on private land - felling and transit of trees.

Trade Secy.: Trade Ecosystem Must Become More Growth-Oriented 
Government Trade Secretary P.K. Sinha said India must continue its ongoing improvements so that the country's trade ecosystem will become more growth-oriented. The remarks came at the first meeting of the National Committee on Trade Facilitation, a new body designed to improve Indian trade. 
 
HIGH-IMPACT NEWS
Apple CEO Cook: India Is One of Our Most Promising Markets

In his opening remarks during Apple's latest earnings call, CEO Tim Cook called out India as one of the most promising markets for the company. He said the 4G roll-out in particular could have a huge impact. "Looking ahead, we're seeing some very exciting developments in India," he said. 


 
Study: With 4,750 Start-ups, India Remains World's 3rd-Largest Start-up Base
As many as 1,400 start-ups have been established in India this year, allowing India to maintain its position as the third-largest start-up base in the world with more than 4,750 tech start-ups, ahead of countries such as China and Israel, according to a report by the Nasscom Product Conclave. The number of start-ups that have been funded this year has increased by 8%.

U.S. Envoy: India Will Lead World in Almost Every Category by 2030
Expressing confidence that by 2030 India would lead the world in "almost every category," U.S. Ambassador to India Richard Verma said that people are excited about the Indo-U.S. partnership. "You will have the most people, largest middle class population, college graduates, patent holders, massive investment in infrastructure, urbanization and discoveries," he said.

India's Steel Production Grows 8.5% in September
India's steel production grew 8.5 percent to 7.8 million metric tons in September 2016 compared to 7.2 million metric tons in September 2015. In the first nine months of 2016, India produced 71 million metric tons of steel, growing 5.9 percent over the same period last year. 

India's Rooftop Solar Capacity Reaches 1,020 MW
India has added 513 MW of rooftop solar capacity over the past 12 months reaching total installed capacity of 1,020 MW, according to the latest India Solar Rooftop Map released by the Bridge To India consulting firm. According to the survey, the country is expected to add another 1,192 MW of rooftop solar capacity in the next 12 months. 



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