India - Partner In Growth
Welcome to the July 6, 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
Made-In-India High-Speed Train Bows in September

The much-awaited made-in-India electric bullet train, capable of speeds of 100 miles per hour, is expected to roll out in September. It is the first of many that will crisscross India. It was built by Integral Coach Factory of Chennai.





Indian Space Agency Conducts 1st Crew Escape Test for Manned Mission

The Indian Space Agency took an important step toward putting its first man in space as it successfully conducted its first crew escape test. In the "pad abort" test, the space capsule detached from the rocket shortly after takeoff and landed safely at sea.



 
Reserve Bank Raises Policy Rate, Keeps 'Neutral' Stance

India's central bank raised its policy rate for the first time in more than four years, due to inflation concerns, but kept its policy stance as "neutral." The Reserve Bank of India's monetary policy committee lifted the repo rate by 25 basis points to 6.25 percent, the first increase since January 2014.



 

FM Jaitley Hints at Rationalizing GST Rates as Revenues Surge

The Government may soon be looking at rationalizing goods and services tax (GST) rates as the year-old indirect tax regime stabilizes, Finance Minister Arun Jaitley said, even as he dismissed the idea of a single rate. Jaitley added that GST has helped expand the tax base, including that of direct taxes. 



 

Tamil Nadu State Unveils Policy on Ecotourism

The state of Tamil Nadu has released an ecotourism policy which envisages a major role for local communities. Community-based ecotourism will emphasize active involvement of local communities for their empowerment and socio-economic uplift.



 
HIGH-IMPACT NEWS
Commerce Minister Prabhu Hosted by U.S. Body in Washington D.C.

India's Minister of Commerce & Industries and Aviation Suresh Prabhu was hosted by the U.S.-India Strategic Partnership Forum in Washington, D.C. The meeting served as a continuation from a previous dialogue held in Prabhu's first visit to the U.S. in October 2017 for the U.S.-India Trade Policy Forum.


 
A 40-Year-Old Indian Film Studio Has a Plan vs. Amazon and Netflix

A 40-year-old Indian movie production house is challenging the world's largest video streaming platforms, Amazon Prime Video and Netflix, with more local content than the two American players together host currently. The on-demand platform of Mumbai-based Eros International has already amassed a library of over 11,000 film titles.


India Beat One of the World's Deadliest Viruses - and Made a Music Video About It

The Nipah virus scare that shook India in May had all ingredients of an-edge-of-the-seat medical thriller like "Outbreak:" A country of 1.3 billion people and an encounter with one of the most lethal pathogens of our times. But in the end the deadly virus was defeated and inspired a singing, dancing Bollywood-style music video. Watch it here .



Walmart: Flipkart Deal in Line with Govt.'s FDI Policy

Walmart has defended its move to acquire Flipkart, saying it is in line with the Government's foreign direct investment (FDI) policy. The acquisition will boost manufacturing in India by providing thousands of local suppliers access to consumers through the marketplace model, the company said in a statement.




Indian Steelmaker JSA Plows $1 Billion into U.S., More to Follow

India's top steelmaker JSW Steel says it's scouting for more deals in the U.S. and Europe to expand its global footprint, betting that vibrant growth will underpin demand in overseas markets and complement a boom at home that's seen the mill ramp up local output.



TRANSFORMING INDIA
Go vt. Launches 'ReUnite' App to Find Missing, Abandoned Children

The Government has launched a mobile phone app called "ReUnite" which helps track and trace missing and abandoned children. This is part of the Government's efforts to reunite parents whose children have gone missing.


 



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