India - Partner In Growth
Greetings from the Embassy of India in Washington D.C.!
Welcome to the  November 30, 2018, edition of our weekly newsletter, bringing you important policy and high-impact news about India.
I hope you find it useful.
-- Shambhu Hakki, First Secretary, Press, Information and Culture

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KEY POLICY DECISIONS
PM Modi Launches Ease-of-Doing-Business Grand Challenge

Prime Minister Narendra Modi launched a grand challenge on resolving seven identified ease-of-doing-business problems with the use of cutting-edge technologies. The objective of this challenge is to tap the potential of young Indians, startups and other private enterprises to provide solutions to complex problems using current technology.




FM Jaitley to Present Interim Budget in February

Finance Minister Arun Jaitley will present an interim budget for fiscal year 2020 in February 2019 that's expected to highlight the Government's achievements and lay out its vision for the next five years, a senior official said. 


 
Govt. to Infuse $6.3 Billion Into State-Owned Banks by March

The Government will infuse $6.3 billion into state-owned banks by March, with the next tranche released as early as next month, in order to recapitalize the institutions and shore up confidence.



 
SEBI Moves to Deepen India's Corporate Bond Market

In order to deepen India's relatively shallow corporate bond market, the Securities and Exchange Board of India (SEBI), the market regulator, instructed certain large Indian corporations to raise 25 percent of their fresh borrowing needs in bonds.
 

 
Govt. Plans to Ease Retail Norms to Ease Doing Business

The Government plans to ease regulations to promote retail in a bid to take India into the Top 50 in the World Bank's global ease-of-doing-business ranking. The country is looking at a national policy for retail, among other improvements.


 
HIGH-IMPACT NEWS
U.S. Offers $5 Million Reward for Mumbai Attackers on 10th Anniversary of Siege

As Mumbai marked the 10th anniversary of attacks that killed 166 in India's financial capital, the U.S. made a new reward offer for information on the siege. The Pakistani gunmen who waged the attack were killed or captured. But U.S. Secretary of State Mike Pompeo said that those who planned the attack had not been convicted.


 
Sikhs in America have hailed the Government's decision to build a religious corridor linking the border district of Gurdaspur with the historic Kartarpur Sahib gurudwara in Pakistan, fulfilling a long-pending demand of the community.



Google's Neighbourly is a local social network that aims to answer questions people often have about their immediate surroundings, such as where to find the best street food or a reliable car repair shop. The app will source its answers from other users, or "neighbours."



Bosch, Siemens, Panasonic and other global brands are planning a make-in-India push, with heavy investments in the white goods sector, as a boost to PM Modi's policies.



Indian real estate data and analytics firm PropEquity said it has entered into a knowledge partnership with the Wharton School of business at the University of Pennsylvania to focus on research in the Indian real estate sector.



TRANSFORMING INDIA

Farmers in Karnataka state are banking on technology to market their produce and grow their income. They have realized up to 40 percent more income with the help of an e-trading interface.

 
 

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