India - Partner In Growth
Welcome to the December 8, 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
PM Modi, Pres. Trump Discuss Entrepreneur Summit Via Phone

As part of continuing high-level bilateral consultations, U.S. President Trump and Prime Minister Narendra Modi spoke by phone to discuss the just-concluded Global Entrepreneurship Summit 2017 in Hyderabad. Ivanka Trump, President Trump's daughter, participated in the summit as chief guest.



India Eyes Arbitration Law Change to Improve Ease of Doing Business
 
With an aim to further improve India's ease of doing, the Government is mulling changes in the arbitration law. The Government is likely to come up with amendments in legislation which it said will invite more international entities. According to the World Bank's latest annual Ease of Doing Business report, India rose from No. 130 to No. 100, the ranking's biggest year-over-year gain ever.


 
India's Net Neutrality Rules Could Be World's Strongest

India's telecom regulator has published recommendations strongly backing net neutrality, bringing the country a step closer to what could be the world's most progressive policy on equal internet access for all. Net neutrality means service providers must treat all traffic equally, and not charge differently based on content. Users would be able to access all websites at the same speed and cost. 
 

 

India's New Oil Supply Strategy in Focus as 1st U.S. Crude Arrives    

The arrival of the first shipment of U.S. crude to India sends a clear message to OPEC that the world's third-largest consumer has other supply options. The arrival of the New Prosperity tanker into Paradip Port, in Odisha on India's east coast, was a landmark moment for U.S.-Indian bilateral relations. 

 
Govt. Tweaks Bankruptcy Law to Prevent Misuse 

The Government is amending its landmark year-old bankruptcy code to prevent its misuse by "unscrupulous, undesirable persons." The amendments aim to exclude those who have willfully defaulted or are habitually non-compliant, making them a risk to the successful resolution of a company's insolvency.


 
HIGH-IMPACT NEWS
FM Jaitley: India Has Standardized Itself for 7-8% Growth

Finance Minister Arun Jaitley said improved macroeconomic fundamentals have placed India on the growth trajectory of 7-8% and the country would have to invest heavily in infrastructure over the next two decades to graduate into a middle-income economy. "India today...has been the fastest growing major economy and we do hope that in the first instance we evolve into a middle-income economy and subsequently we graduate into a developed economy," he said.

 
India's Q2 GDP Growth Jumps 6.3%

India's economic growth bounced back in the July-September quarter to reverse a five-quarter slowdown as businesses overcame the teething troubles of the newly launched goods and services tax regime and demonetization. 


Why India Is Crucial to Amazon's Massive Intl. Expansion Plans

  
 
 
 
 
 
 
         
India as an important untapped international market for Amazon. India's e-commerce market has been one of the world's fastest growing, with high double-digit annual growth in recent years. The Indian e-commerce market is expected to grow at a compound annual growth rate of more than 30 percent through 2020 to become a $64 billion market. 



Nearly 40% of All New Power Capacity in India Is Solar

The solar energy sector has accounted for the largest capacity addition to the Indian electricity grid so far this year. It has contributed around 39 percent - more than 7,100 megawatts (MW)-to the overall capacity additions, said a U.S. research firm. For comparison, solar energy capacity additions stood at only around 4,313 MW in all of 2016.


USIBC Launches Mentorship Program for Women Entrepreneurs

At the Global Entrepreneurship Summit 2017 in Hyderabad, the U.S.-India Business Council (USIBC) announced a collaborative initiative titled Women for Women Innovators, Social Leaders & Entrepreneurs, which will work with key women leaders to offer leadership, mentoring, and development opportunities for women entrepreneurs and innovators.



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