India - Partner In Growth
Welcome to the November 16, 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's ASEAN Opening Statement

"India's Act East Policy is shaped around the ASEAN, and its centrality in the regional security architecture of the Indo-Pacific region is evident," Prime Minister Narendra Modi said at last week's ASEAN-India Summit. "We have individually strived very hard to fight terrorism and violent extremism. It is time that we jointly address this challenge by intensifying cooperation in this crucial area."


PM Modi Meets with Trump at ASEAN Summit
 
Prime Minister Modi met with President Trump at the ASEAN-India Summit, where the two leaders discussed regional security and other issues. "Wherever President Trump has traveled in recent days and wherever he had an opportunity to speak on India, he has spoken optimistically and highly," Modi said.

 
PM Modi OKs $14 Billion for Rural Roads

Prime Minister Modi is planning to spend an additional $14 billion to provide road connectivity in India's remote villages by March 2020. The money will come from a highly praised Government road-building program that has reduced poverty and allowed businesses to deliver their products faster. 

 
Govt. Launches New ETF
 
The Government has launched a new Exchange Traded Fund (ETF) that is expected to benefit long-term and retail investors by providing an opportunity to participate in equity stocks of Government-run companies. 


 
FM Jaitley Hints at Further GST 'Rationalization'

Finance Minister Arun Jaitley hinted at possible "rationalization" of the landmark Goods and Services Tax (GST) to further fine-tune the historic tax overhaul, the biggest in India's history since independence. 


 
HIGH-IMPACT NEWS
Report: India's IT Spending Will Hit $87 Billion in 2018

Technology spending in India is expected to rise 9.2 percent to reach $87 billion in 2018, led by spending on expensive devices such as the iPhoneX and laptop upgrades, which continue to drive the majority of overall IT spending in India, according to research firm Gartner.


 
American Tower Boosts Indian Footprint with $1.2 Billion Deal

Boston-based American Tower agreed to buy mobile phone towers from Vodafone Group's Indian business and Idea Cellular, boosting its infrastructure in the country by a third. American Tower agreed to pay $1.2 billion for about 20,000 towers owned by the carriers in a deal that is expected to be completed in the first half of 2018. 

Govt.: Air Quality is Improving

  
 
 
 
 
 
 
 
 
 
 
 
Dr. Harsh Vardhan, Minister of Environment, Forest and Climate Change, Science & Technology & Earth Sciences, said that there is a declining trend in the levels of atmospheric particulate matter, indicating an improvement in air quality due to the efforts made by various agencies.


Indian Students in U.S. Spent $6.5 Billion in 2016-17

Indian students spent a massive $6.5 billion in the U.S. in 2016-17, up 30 percent from the previous year. "The American higher education system introduces international students to networks and contacts that provide benefits and advantages over a lifetime," said Karl M. Adam, deputy cultural affairs officer at the U.S. embassy in India. 


KPMG: FDI Into India Jumps 40% to $114 Billion in 2015-17

Cumulative foreign direct investment (FDI) equity flows into India reached $114 billion during the past two financial years of 2015-16 and 2016-17, according to a report by KPMG. This is about 40 percent higher than the $81 billion recorded in the preceding three years, from 2011-12 to 2013-14. 



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