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India - Partner In Growth
Welcome to the June 27, 2018  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 Meets with U.N. Ambassador Haley

Prime Minister Narendra Modi hosted Indian-American U.S. Ambassador to the United Nations Nikki Haley in New Delhi. They discussed ways to enhance India-U.S. cooperation, including on counter-terrorism and in multilateral efforts. They expressed confidence that the strong India-U.S. partnership will continue to be an important factor for global peace and prosperity. 


Millions Take Time to Breathe on Intl. Day of Yoga

Indian Prime Minister and longtime yoga practitioner Narendra Modi led an estimated 50,000 volunteers through a series of yoga asanas in Dehradun, Uttarakhand state, to celebrate the fourth anniversary of International Yoga Day, while millions more around the world joined in. PM Modi successfully lobbied for international recognition of Yoga Day in 2014.

 
National Infrastructure Fund to Launch $2 Billion Long-Term Fund

The National Infrastructure and Investment Fund is looking to launch a $2 billion long-term fund to finance various mega projects. "The new fund will focus on major infrastructure projects and look for partners who are willing to take long-term risks with us," said NIIF managing director and CEO Sujoy Bose, adding that capital raising for the new fund will begin soon.

 
Via Video, PM Modi Inaugurates Nature Cure Center in N.Y.'s Catskills Mountains

Prime Minister Modi inaugurated a nature center in New York's Catskills Mountains on the International Day of Yoga and said he hopes that the ancient Indian physical and mental practice can become a binding force for the world. The "YO1 Nature Cure Center" represents a "large Indian investment" in New York and will contribute to the wellness of New Yorkers, the Indian Consulate General said.

 
Digital India: Ministry Set to Establish Biggest Data Center in Bhopal

The Ministry of Electronics and Information Technology plans to expand Digital India projects throughout the country and is set to establish the nation's fifth and largest data center in Bhopal, hosting 500,000 servers.

 
HIGH-IMPACT NEWS
India's Jet Airways Buys 75 More Boeing 737 Max Jets for $8.8 Billion

Jet Airways India has purchased another 75 of Boeing's 737 Max aircraft for about $8.8 billion as it looks to continue rapid expansion in the world's fastest-growing major aviation market. Jet Airways already placed two 75-plane orders, the most recent in April.


 
CII Says FDI By India Firms Expected to Rise

The Confederation of Indian Industries said that foreign direct investment (FDI) by Indian companies is likely to go up given the stable market conditions and the significant impact created by Indian companies in local economies.


Google Tackles Facebook in India with Hyper-Local Social Network

Neighbourly, a hyper-local social network recently unveiled in India by Google's Next Billion Users program, lets people share local expertise and crucial information with others in their vicinity.




Amazon's Cloud Arm Prepping India to Lead Next Tech Revolution

Known for dispatching the best software talent across the world for years, India has now embarked upon a cloud-driven journey to prepare the next generation of skilled workers, data scientists, artificial intelligence mavericks and mobile developers working with Amazon Web Services.





A New Boss is Proof Uber is Digging in Its Heels in India

Uber, the U.S.-based ride-hailing company, recently announced the appointment of Pradeep Parameswaran as the new president of India and South Asia. "This is a sign that Uber has decided not to leave the (Indian) market easily," said Jaspal Singh, co-founder of research and advisory firm Valoriser Consultants.




TRANSFORMING INDIA
'This Scheme Is a Lifesaver:' India's Drive to Provide Cheap Drugs


A project that makes affordable medicine available to India's poor is helping them avoid bills that might otherwise push them into destitution. When the Modi Government came to power in 2014, it gave the project a push, setting a target of establishing 3,000 pharmacies. From 97 pharmacies in 2014, there are now more than 3,000 countrywide.