India - Partner In Growth
Welcome to the April 26, 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 Pushes for 'Make in India' to be Global No. 1 in Jewel Sector
Driving the "Make in India" agenda to boost factory output and create more jobs, Prime Minister Modi urged the diamond industry in Surat to take a lead in making the country the global leader in the gems and jewelry sector. India's net gems and jewelry exports, at $32 billion during 2015-16, are expected to have picked up speed over the past year and 2017. 

PMs Office Asks Departments to Help Attract FDI 
The Prime Minister's Office (PMO) has asked all ministries and departments to restructure their regulations to attract foreign direct investment (FDI). Significant reforms have already been carried out in national FDI policy; now it is time for ministries and departments to provide an enabling framework to attract more FDI.

 

PM Modi to Inaugurate 'Textiles in India' Conference
 
 
 
 
 
 
               

Prime Minister Modi will inaugurate Textiles India -- a large event showcasing the country as a global sourcing hub -- on June 30. The three-day conference will provide a platform to connect and collaborate with global manufacturers, investors and buyers in the textiles sector. Some 2,500 international buyers and more than 1,000 international and domestic exhibitors are expected to attend.

Consultation Paper on Spectrum Auction in 15 Days
Indian telecom regulator TRAI expects to start the consultation process for the next round of spectrum auction in 15 days. The Department of Telecom has sought TRAI's views on spectrum price for various frequencies, including premium airwaves in the 700 MHz band, which remained unsold in the October 2016 auctions.

Govt to Auction 4 GW of Wind Projects in FY18
The Government plans to auction wind power projects of about 4 gigawatt (GW) capacity in tranches this year. "The first batch of such auction is being planned next month," said Ashvini Kumar, managing director, Solar Energy Corporation of India. 

HIGH-IMPACT NEWS
FM Jaitley Meets U.S. Commerce, Treasury Secretaries
Finance Minister Arun Jaitley held a bilateral meetings with U.S. Commerce Secretary Wilbur Ross and U.S. Treasury Secretary Steven Mnuchin on the sidelines of the IMF-World Bank spring meetings in Washington D.C. All parties emphasized the strength of Indo-U.S. economic relations and the bipartisan support it has acquired over the years. 
 
FM Jaitley Pegs GDP Growth Rate for 2017-18 at 7.5%
Finance Minister Arun Jaitley said India has sustained 7 to 8 percent growth making it the fastest growing major economy in the world and that we need to sustain it for two decades to eliminate poverty and catch-up with the developed economies . "The aspirational class in India has become very large and, therefore, through the decision-making of the Government there is a popular support," Jaitley said. "Election results have indicated that." 
India Jumps to 8th in Global FDI Confidence Index
India has jumped one spot to rank 8th in the 2017 AT Kearney Foreign Direct Investment (FDI) Confidence Index with 31 percent of surveyed respondents being more optimistic on the economic outlook over the next three years. "Investors see India as a vast and diverse up-and-coming market with plans to increase investments there over the near to medium term," the body said.

World Bank to Add Indian Cities to 'Ease of Doing Business' Ranking
The World Bank is likely to include eight more cities in India's "Ease of Doing Business" ratings to allay Government concerns that developments and reforms across the country are not captured through the current survey, which is limited to Delhi and Mumbai.

NITI Aayog's 300 Action Points to Boost Indian Economy
Government think-tank NITI Aayog has come out with 300 specific action points for accelerating the economic growth of the country. The action points are part of the presentation on a 15-year long-term vision accompanied by a 7-year strategy and a 3-year action agenda.


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