SHARE:  
Join Our Email List
India - Partner In Growth
Welcome to the October 31, 2017  bulletin of key policy decisions and high-impact news, presented by the Embassy of India, Washington DC.
YouTube Facebook Twitter
KEY POLICY DECISIONS
Sec. of State Tillerson Promises India Top-Tech Military Hardware

U.S. Secretary of State Rex Tillerson said the U.S. will provide India with its best defense technologies, including an offer to supply F-16 and F-18 fighter jets, during his visit to India. Tillerson met with Prime Minister Narendra Modi during the visit.




President Kovind Inaugurates Technocity Project

President Ram Nath Kovind has launched the Technocity project in Kerala's capital of Thiruvananthapuram. Technocity is aimed at fostering emerging and high-end technologies and research and development. "Kerala is potentially a powerhouse of Digital India," the President said.



 
India to Launch Lunar Rover in 2018

The India Space Organization has announced that Chandrayaan-2, the nation's first lunar rover, will launch in March 2018. India continues to lead the way in budget space exploration. The rover mission is expected to cost $93 million, which is about the price of one SpaceX Falcon Heavy rocket launch. Chandrayaan-1 orbited the Moon for nearly a year. 


 

FM Jaitley Kicks Off Online Govt. Fund-Tracking System

Finance Minister Arun Jaitley has launched the Public Finance Management System to aid in tracking and monitoring the flow of funds from the central Government to implementing agencies, increasing transparency and efficiency. The system will show the real-time status of fund utilization.

 

Govt. Plans Entrepreneurship Day on Nov 9

In a bid to give a boost to self-employment, the Government plans to celebrate a National Entrepreneurship Day. The event, scheduled for November 9, aims to celebrate self-employment in various forms, including entrepreneurship and start-ups. The Ministry of Skill Development and Entrepreneurship is spearheading the event. 


 
HIGH-IMPACT NEWS
Markets Applaud India's $32 Billion Capital Injection into Banks
 
The Government has won a resounding reception from investors and credit-rating firms for its unprecedented pledge of $32 billion in capital for the country's state banks. The move, which drove an index of Government-run banks up as much as 26 percent, is part of Prime Minister Modi's goal to help lenders meet tighter capital-reserve requirements.

 
Sec. of State Tillerson: Indian Firms Upping U.S. Investment

Indian companies - such as Mahindra & Mahindra, which is setting up automotive plant in the U.S. -- are increasing their investments in America, said U.S. Secretary of State Rex Tillerson, at a joint press conference with External Affairs Minister Sushma Swaraj during Tillerson's visit to India. "Our two countries have history of trade that dates back to the 18th century, long before the independence of either one of our nations," Tillerson said.

Texas Governor to Lead Trade Delegation to India in 2018
 
 
 
 
 
 
 
 
 
 
 
Texas Gov. Greg Abbot has pledged to take a trade delegation to India next year as part of his efforts to increase trade and economic cooperation between the two countries. Abbot made the announcement during a Diwali celebration at the Governor's Mansion in Austin. India has purchased $1 billion of Texas gas.


Battery-Storage Facility Could Be Game-Changer for Indian Solar Push

India is at the forefront of the solar energy revolution, with a Government commitment to expand the use of solar energy and the building of solar facilities. One gap in the effort - sizable storage facilities for solar-made energy - is being filled by a $43 million storage site.



Amazon to Double Down on Investment in India

Amazon India chief Amit Agarwal said that the online retailer plans to double down on its investments in India, especially in key areas such as digital payments and the Prime membership program. Amazon indicated that it plans to ramp up its selection through more partnerships and joint ventures, such as recent deals with Shopper's Stop and the Patni Group.




Have a business problem with India you need fixed?
Email us at: fscom.washington@mea.gov.in or  tseco.washington@mea.gov.in