India - Partner In Growth
Welcome to the July 18, 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
GST Rate Finder: A New App to Check Taxes, Rates on the Go 
India's Central Board of Excise and Customs recently released a new app to ensure a smooth transition following the adoption of the country's goods and services tax (GST). "GST Rate Finder" enables users to search for specific items and their respective taxes, or check a line-by-line bill from a hotel or restaurant. Available on Android smartphones, the app will soon be available for iPhone users.   


Punjab to Host India's First Tech, Intellectual Property-Focused Center
India's first Technology and Innovation Support Center (TISC) will launch in Punjab as part of an effort to foster innovation and entrepreneurship while protecting intellectual property rights. Established under the World Intellectual Property Organization's TISC program - which provides access to locally-based, high quality tech resources - India will look to create an in-country TISC network, adding to the more than 500 TISCs currently operating worldwide.

 

India to Upgrade Roads in Manipur, Boost Infrastructure Investments 
India's Cabinet Committee on Economic Affairs recently approved plans to upgrade and widen a critical connecting road in Manipur, a northeastern Indian state, that will improve transportation and decrease average travel time by nearly 40 percent. A section of the NH-39 highway, between Imphal and Moreh, will be widened and upgraded, allowing landlocked Manipuri citizens, workers and designers to produce and sell their wares to new markets.

 

Six States, Union Territories Adopt Government's 'GeM' Initiative
Several states and Union Territories recently signed on to the Government e-Marketplace (GeM) initiative, which aims to curb corruption by requiring public procurement of goods and services to be carried out online. Andhra Pradesh, Assam, Gujarat, Telangana, Puducherry and Arunachal Pradesh will adopt the initiative, joining the more than 5,000 government departments that use the portal to increase transparency and reduce procurement costs by as much as 20 to 30 percent.

 

Power Minister Calls for Public-Private Partnerships in Mineral Exploration
Piyush Goyal, India's Minister for Power, Coal, New & Renewable Energy and Mines, called on state governments and the private sector to invest and participate in mineral exploration. Speaking at a conference on "Indian Mining Industry 2030 - Way Forward," Goyal recommended establishing a committee to speed up exploration and auction activities.

 
HIGH-IMPACT NEWS
Ambassador Sarna: Indo-US Engagement Enjoys Bipartisan Support
Prime Minister Modi's recent visit to the US was a "landmark visit," said Indian Ambassador to the US Navtej Sarna at a recent conference in New York, adding that it is indicative of broad support for India across the US political spectrum. Rep. Tulsi Gabbard (D-HI), co-chair of the Congressional Caucus on India and Indian-Americans, said the bilateral relationship is "flourishing" in many areas.

 

India's Inflation Falls to Five-Year Low
Consumer inflation fell to a record low of 1.54 percent in June, the lowest level seen since 2012 and a drop from May's level of 2.18 percent. With June marking the eighth consecutive month that inflation has fallen below the Reserve Bank of India's (RBI) medium-term target of 4.0 percent, "the latest CPI number...of 1.54 percent is historically low and reflects the firm and ongoing consolidation of macroeconomic stability," said Chief Economic Adviser Arvind Subramanian. Many analysts are speculating the RBI could cut interest rates in the near term.


India Green-Lights Amazon's $500 Million Food, Grocery Investment 
The Government of India's Department of Industrial Policy and Promotion (DIPP) approved Amazon's proposed $500 million investment in India to sell groceries and food products. As part of the deal, Amazon will establish a wholly-owned subsidiary in India that will stock and sell food products online. 



Oil Ministry's 'Ujjwala' Supports 25 Million Low-Income Women, Families 
As many as 25 million low-income women and families below the poverty line (BPL) in India have received liquefied petroleum gas (LPG) connections as part of the government's Pradhan Mantri Ujjwala Yojana initiative. Launched in May 2016, the Ujjwala initiative provides LPG connections and financial support for BPL communities as it seeks to increase the use of gas and clean cooking fuel throughout India.



Subhash Garg Named Secretary of Department of Economic Affairs 
Subhash Chandra Garg, a career civil servant, was appointed Secretary of the Finance Ministry's Department of Economic Affairs (DEA), where he will oversee capital markets, infrastructure financing and budgeting. Succeeding Shaktikanta Das after his retirement, Garg was previously the World Bank's Executive Director for Bangladesh, Bhutan, India and Sri Lanka, and has held other positions with the Department of Expenditure and the Cabinet Secretariat.



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