India - Partner In Growth
Welcome to the October 19, 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
Govt., Abu Dhabi Sign $1 Billion investment Deal
The National Investment and Infrastructure Fund (NIIF) of India and Abu Dhabi Investment Authority (ADIA) signed an investment agreement worth $1 billion, the finance ministry said, aimed to support infrastructure construction. As part of the agreement, ADIA will become the first institutional investor in NIIF's Master Fund and a shareholder in the NIIF's investment management company.



Govt. OKs $1 Billion to Boost Skill India Mission
In a major push to Prime Minister Narendra Modi's pet project, Skill India Mission, the Government has approved two new skill development programs. The Skills Acquisition and Knowledge Awareness for Livelihood Promotion and Skill Strengthening for Industrial Value Enhancement are aimed at developing vocational skills. 



 
Govt. Launches Biotech Incubation Center for Women Entrepreneurs
Minister of Science & Technology Dr. Harsh Vardhan has inaugurated the Women Bio-tech Incubator at Golden Jubilee Biotech Park for Women Society. Vardhan delivered an address noting that India has placed a special emphasis on the empowerment of women, especially for employment. The Incubator is designed to encourage women to pursue entrepreneurship

 
Indian Railways to Launch 100 New Trips In Mumbai Area 
In a major boost to suburban rail services in the Mumbai area, Indian Railways is introducing 100 more local train trips. Introduction of these new suburban services will benefit 7.7 million commuters travelling daily over the Mumbai suburban network by reducing congestion and providing a faster commute.


 
Govt. to Procure 10,000 Electric Vehicles from TATA Motors
Energy Efficiency Services Limited, under the Ministry of Power, will procure 10,000 electric vehicles from Tata Motors Limited. The company was selected through an international competitive bidding. Tata Motors won the tender and will now supply the first 500 electric vehicles cars in November with the remaining 9,500 vehicles coming later. This represents the world's largest single electric vehicle procurement. 

 
HIGH-IMPACT NEWS
FM Jaitley Visits U.S. for IMF, World Bank Meetings  
Finance Minister Arun Jaitley held critical bilateral meetings with his U.S. counterparts while in in Washington, D.C., to attend the annual meetings of the International Monetary Fund (IMF) and the World Bank. He was accompanied by Reserve Bank Governor Urjit Patel; Secretary of Economic Affairs, S.C. Garg and other officials. Before landing in Washington, Jaitley did an investment outreach in New York and Boston.
 
 
India's Industrial Growth Hits 9-Month High of 4.3% in August
Industrial production grew at a nine-month high of 4.3 percent in August, largely based on the robust performance of the mining and power sectors coupled with higher capital goods output, official data showed. Factory output growth measured in terms of the Index of Industrial Production (IIP) stood at 4 percent in August 2016, according to data released by the Central Statistics Office. The previous high in IIP growth was 5.7 percent in November 2016.

India To Remain Top Remittance Country at $65 Billion in 2017
 
 
 
 
 
 
 
 
 
 
 
India is expected to retain its position as the top remittances-receiving country, with its diaspora set to pump in a whopping  $65 billion in 2017, the World Bank said in a report. After India the top five remittances receiving-countries are China ($61 billion), the Philippines ($33 billion), Mexico ($31 billion) and Nigeria ($22 billion).


India Records Significant Decline in Infant Mortality Rate
India has registered a significant decline in the infant mortality rate (IMR). According to just-released census data, the IMR of India has declined by three points (8 percent), from 37 deaths per 1,000 live births in 2015 to 34 per 1,000 live births in 2016, compared to a two-point decline last year.



Apple: New iPhones to Have Hindi Dictation
The newly launched iPhone 8 and 8 Plus will support Hindi dictation, said Apple CEO Tim Cook. "We got a new keyboard for India and we now support 11 local languages. The iPhone now takes dictation in Hindi," Cook said in a video message. The message was played at an event at the headquarters of Reliance Jio, Apple's Indian partners.





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