| Welcome to the latest bulletin of key policy decisions and high-impact news from India, presented by the Embassy of India, in Washington D.C. |
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Reserve Bank Eases Forex Hedging Rules  The Reserve Bank of India relaxed some of the foreign exchange hedging rules for importers and exporters to allow greater operational flexibility, the central bank said. Importers and exporters can now cancel up to 75 percent of their hedged currency market exposures, three times the previous rate of 25 percent, the bank said. 
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Private Equity Investors Get Exit Flexibility
Responding quickly to complaints from foreign investors, the Reserve Bank of India has agreed to drop stringent valuation rules on private equity investors who want to exit from companies they have invested in. The rules, adopted only two months ago, were seen to be hindering foreign investment in India.
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Market Regulators Get More Power to Fight Illegal Schemes
The S ecurities and Exchange Board of India had its powers to fight Ponzi schemes and other illegal activities strengthened on orders of the Financial Ministry. The regulator is empowered to conduct search and seizure activities. At the same time, checks and balances to its powers are reinforced.  |
Host of New Rules for Companies Take Effect
The Government is implementing a wide range of new rules for companies that will improve and modernize the Indian business climate. Corporate governance will be strengthened, investors' interests will be better protected and, for the first time, companies over a certain size will be required to spend 2 percent of their profit on corporate social responsibility programs.
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Survey: India Created 81,000 U.S. Jobs in 2013
Through their collective $17 billion investment in the U.S., Indian companies have created 81,000 jobs in America, according to a survey by the Confederation of Indian Industry. The annual survey of 68 Indian companies in 40 U.S. states showed that New Jersey, California, New York, Texas and Illinois have the largest concentration of Indian companies. 
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U.S. FDA OKs Safety of Indian Medicines
The U.S. drug regulator says it has detected no impurities in India's generic version of the cholesterol-lowering drug Atorvastatin in recent tests. The development, which comes after some American experts raised doubts over the quality of India-sourced medicines, is a confidence booster for domestic drug firms.
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Commerce Secy.: India, U.S. take 'different approaches' on trade
India's trade and economic policies are facing increased global scrutiny with the U.S. attacking the country's intellectual property regime and several countries questioning the procurement and pricing mechanisms for agricultural products. Commerce Secretary Rajeev Kher explains why the international spotlight is on India and how the government is responding.
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Foreign Institutional Investors Buy In to India
Global fund managers in the U.S. and Europe are pulling money out of China, Korea, Russia and Japan and betting some of it on India. Foreign institutional investors have poured close to $2.5 billion into India over the past month, while pulling $7 billion from Japan, $2 billion from China and $1 billion from South Korea.
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3G Growth in India Beats World Average
Data traffic powered by third-generation, or 3G, service grew at 146 percent in India last year, higher than the global average that saw usage double, according to a study by Nokia Siemens Networks. The use is much higher in major urban centers, at a gigabyte a month. "This indicates the rising popularity and uptake of 3G across India," the study said.
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GE Partners to Set Up Cancer Care Centers in India
GE Healthcare and Cancer Treatment Services International (based in Pittsburgh, Penn.) will partner to invest $120 million over five years to set up 25 centers in India for early diagnosis and treatment of cancer. "The partnership attempts to leverage a pool of talented Indian doctors and medical infrastructure to make cancer treatment an out-patient service in the long-run," said Joe Nicholas, president and CEO of the Pittsburgh firm.
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