India - Partner In Growth
Welcome to the May 16, 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: Asia a Promising Region for Media Businesses

Prime Minister Narendra Modi said Asia has emerged as a promising region for media businesses and offers opportunities for international cooperation. The PM's message was delivered during the closing ceremony of the two-day Asia Media Summit.



Market-Regulator SEBI to Make Life Easier for FPIs

Market regulator, the Securities and Exchange Board of India, will recast regulations to make it easier for foreign portfolio investors (FPIs) to trade in India, aligning with PM Modi's platforms of increasing overseas investment in India and making it easier to do business there.


 
Commerce Minister: New Initiatives for $5 Trillion Economy Soon

Commerce Minister Suresh Prabhu said that the Government is working with countries focusing on technologies and sectors to push India's growth. He said the Government is looking to propel India toward a $5 trillion economy in the next few years and it will roll out a number of initiatives to help realize this aim. 


 
India Pushes GST for Jump in Ease-of-Doing-Business Rankings

Ahead of the World Bank's June 1 deadline for including new reforms in its annual ease-of-doing-business ranking, the Government has pointed out that the new Goods & Services Tax (GST) has resulted in significantly fewer taxes. India shot up 30 places in last year's ranking.


 
Aviation Minister Seeks U.S. Partnership for Made-in-India Aircraft

Aviation Minister Suresh Prabhu seeks cooperation from the U.S. to locally produce civil and defense aircraft in the country. "The U.S. is a leader in the aviation space and we will be very happy to collaborate with them to locally manufacture" aircraft, he said.


 
HIGH-IMPACT NEWS
NITI Aayog: Walmart-Flipkart Deal Positive for FDI Inflows

The $16 billion Walmart-Flipkart deal will have a positive impact on India's foreign investment (FDI) inflows, NITI Aayog Vice Chairman Rajiv Kumar said. He added that the deal complies with India's FDI regulations.


 
eBay to Relaunch India Operations

Online auction site eBay plans to relaunch operations in India after selling a minority stake in Flipkart Internet as eBay strives to stay relevant in the south Asian nation's fast-growing e-commerce market. The company said it will relaunch eBay India with "a differentiated offer to focus initially on the cross-border trade opportunity."


21st Century Fox to Up Investment in Indian Streamer Hotstar

21st Century Fox CEO James Murdoch said that the company's Star India subsidiary will invest about $50 million in Indian streaming service Hotstar over the year. "As we proved with the IPL (Indian Premier League cricket) leveraging standout sports with strategy, we've demonstrated time and again that it can drive strong returns for the business," said Murdoch.



Mahindra Devises Big U.S. Plan with $230 Million Investment

India's largest utility-vehicle manufacturer Mahindra & Mahindra has promising plans for the U.S. market and its strategy has been nothing but different. Mahindra is investing heavily in Detroit, the traditional home of the Big 3 U.S. automakers.




Salesforce Can Create 1.1 Million New Jobs in India by 2022

Salesforce, the American customer relationship management giant, said that growing adoption of its platform in India can lead to 1.1 million new jobs there by 2022. Salesforce is partnering with ICT Academy, an initiative of the Modi Government.




TRANSFORMING INDIA
This East Delhi Colony Is Now Powered by the Sun

After Dwarka, a cooperative housing society in Delhi, has gone solar. A new solar power plant will generate power and earn money for the society. The recent surge in solar rooftop plants is the result of the Government's efforts to make Delhi a "solar city."


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