India - Partner In Growth
Welcome to the April 14, 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. Launches Plan to Double Farmers' Income, Reduce Food Waste
The Government will soon launch an umbrella program, "SAMPADA," for the food processing sector, with a $900 million outlay, as an integrated scheme aimed at reducing food waste and doubling farmers' income. 


Govt. Approves 'E-Marketplace Govt. Procurement
The Government has given its approval for a Special Purpose Vehicle to be called Government e-Marketplace (GeM SPV) as the National Public Procurement Portal, for providing procurement of goods and services required by Central and State Government organizations. GeM SPV will provide an end-to-end online Marketplace for Central and State Government Ministries, Departments and other bodies.
 
India Railways to Digitize Supply Chains
Indian Railways will digitize its entire supply chain across all zones. The step is aimed at improving transparency and the ease of doing business. With 100 percent E-tenders and E-auctions already assimilated into the system, Railways are planning to build on these initiatives to streamline the flow of material, finances and information.


Govt. OKs Foundation of Indian Institute of Petroleum and Energy 
The Government approved the setting up of the Indian Institute of Petroleum and Energy at Visakhapatnam in Andhra Pradesh as "an Institute of National Importance" through an Act of Parliament. 

HIGH-IMPACT NEWS
ADB: India's Growth to Accelerate to 7.4% in 2017-18
The Asian Development Bank (ADB) has said that India's growth rate will improve to 7.4 percent during 2017-18 and go up to 7.6 percent in the next fiscal year, remaining ahead of China. The Bank said: "Stronger consumption and fiscal reforms are also expected to improve business confidence and investment prospects in the country."
 
India Among Fastest-Growing Ad Bases for Facebook
Facebook said the number of advertisers on its platform has crossed the 5 million mark with India among the fastest-growing markets. The most popular advertising markets are e-commerce, entertainment and media and retail. "The fastest growing countries are India, Thailand, Brazil, Mexico and Argentina" Facebook said.
Microsoft, eBay Invest in Indian E-Commerce Giant Flipkart
Flipkart, India's leading e-commerce marketplace, said it has received investments totaling $1.4 billion from Microsoft, eBay and Chinese online giant Tencent, taking the company's value to $11.6 billion. The deal will see eBay sell its Indian business to Flipkart in part exchange for an equity stake; however, it will continue to operate as an independent entity. EBay's investment was also bolstered by a cash lump sum of $500 million.

USIBC, U.S. Chamber to Host CSR Symposium in Delhi
U.S.-India Business Council (USIBC) in partnership with U.S. Chamber of Commerce Foundation will host the "U.S.-India Corporate Social Responsibility Symposium: Making Economies Work for Women & Youth" at Taj Palace Hotel in New Delhi on April 14, 2017.