India - Partner In Growth
Welcome to the November 25, 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. Developing Industrial Corridors 
According to Commerce and Industry Minister Nirmala Sitharaman, the Government is developing or planning five Industrial Corridors, including the Delhi Mumbai Industrial Corridor, the Chennai Bengaluru Industrial Corridor, the Bengaluru Mumbai Economic Corridor, the Amritsar Kolkata Industrial Corridor and the East Coast Economic Corridor. 
 
Govt. States Objectives of New Energy Policy
The National Energy Policy (NEP) has four key objectives, including access at affordable prices, improved energy security and independence, greater sustainability and economic growth. The NEP builds on the earlier omnibus energy policy and sets the new agenda consistent with the redefined role of emerging developments in the energy world. 

More Business Reforms on the Way 
The Department of Industrial Policy and Promotion, in its efforts to improve the business climate in Indian states, has started preparing the next set of business reforms for States to implement. The States will be implementing business reforms of this new framework for next year's assessment of reforms. 

Govt. Plans Development of Coastal Economic Zones
The Government has begun port-led development through coastal economic zones (CEZs) across all nine maritime states by advancing efforts to develop one new port each on the east and west coast. The Government is phasing these CEZs depending on favorable ecosystem conditions, availability of large contiguous land parcels, access to urbanization and supporting infrastructure, and where prime manufacturing locations exist. 

Govt. Speeds Process to Acquire Land for New National Highways
To expedite land acquisition as required for projects of road and highway construction, expansion and upgradation, the Government has taken several steps to address delays in land acquisition, such as determination of compensation and other issues. 
 
HIGH-IMPACT NEWS
Report: India's Solar Capacity Crosses 10GW Mark
India's total installed solar capacity, including rooftop and off-grid segments, has crossed the 10 GW mark, a consultancy said. India is expected to add new solar capacity of 5.1 GW this year, up 137 percent over last year, and expects average annual capacity addition of 8-10 GW per year going forward. 
 
Incredible India the Buzz of World Travel Market Event in London 
Online analysis following World Travel Market London, the leading global event for the travel industry, found that India was the second-most-talked-about destination during the conference. India participated in full strength with 42 co-exhibitors in the India Pavilion, comprising state Governments/Union Territory Administrations, tourism stakeholders and others. 

Gartner: IT Spending in India Will Reach $72 Billion in 2017
Spending on information technology in India is expected to rise 6.9 percent to $72.4 billion in 2017 from an estimated $67.7 billion this year, led by growth in software and IT services revenue, researcher Gartner said. The key segments driving IT spending growth include communications, media and services, banking and securities, and manufacturing and utilities markets.

Mobile Wallet Market in India to Reach $4.5 Billion 2022
The Indian mobile-wallet market is expected to grow 141 percent to reach $4.5 billion by the end of 2021-22, a study said. The surge will be driven by growing usage of smartphones, robust mobile internet penetration, growth of the e-commerce sector, together with increasing disposable incomes, said the study by the Associated Chambers of Commerce and Industry of India and research firm RNCOS. 

Govt. OKs $912 Million in Highway Projects in 8 States 
The Government has approved 12 highway projects worth $912 million in eight states including Uttar Pradesh and West Bengal. Most of the 476-kilometer projects are under engineering, procurement and construction mode for augmenting highways. 


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