India - Partner In Growth
Welcome to the June 16, 2016 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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Govt. Releases Simpler, Investor-Friendly FDI Compendium
Seeking to make the foreign direct investment (FDI) policy simpler, the Government has released an updated compendium by incorporating all policy changes and eliminating unnecessary explanations. Besides other things, the compendium includes provisions for issue of "sweat equity" to non-resident employees and directors.

Govt. OKs Establishment of Mega Leather Cluster 

The Ministry of Commerce & Industry has given approval to establish a Mega Leather Cluster at Kota Mandal in Andhra Pradesh. It is expected to generate employment for 20,000 people and leverage an initial investment of at least $75 million. 

New Ports Act Gives More Autonomy, Flexibility to Major Ports

The Ministry of Shipping has prepared a draft of the Central Port Authorities Act 2016 to give more autonomy and flexibility to India's major ports and to professionalize their governance. The board will consist of nine members, including three to four independent members. Composition of Board has been simplified. Provisions have been made for inclusion of 3 functional heads of Major Ports as Members in the Board.  

FDI Proposals Worth $106 Million Approved

The Foreign Investment Promotion Board has approved four foreign direct investment (FDI) proposals worth about $106 million.The proposals approved include one from Advanced Enzyme Technologies investment worth $72 million. Also approved were proposals from Corona Remedies, Macmillan Publishers International and Ordain Health Care Global. 
President: 'Brand India' a Trusted Name Across Globe

President Pranab Mukherjee said that "Brand India" is a trusted name today around the world, in developed and developing countries, while addressing a Business Forum event. He said that Brand India adds value to the resources of host countries and is welcomed by local companies. 

Amazon Doubles its Outlay in India to $5 Billion

Amazon is planning to inject another $3 billion investment into its Amazon India operations, Amazon CEO Jeff Bezos announced at the U.S.-India Business Council's Leadership Summit in Washington, D.C.  That more than doubles Amazon's outlays in India since 2014, to $5 billion. 

India Became 4th Fastest-Growing FDI Source in U.S. in 2014

Mahindra is one example of an increasing number of Indian companies that are expanding their operations or setting up business in the U.S. Outside Houston, Texas, is the assembly and distribution center of Mahindra USA, a subsidiary of the world's largest tractor-maker by volume, Mahindra & Mahindra. 

PwC: India's Media Sector Likely to Exceed $40 Billion by 2020

An increase in demographics and literacy rates is pushing India's entertainment and media sector to grow steadily over the next four years to exceed $40 billion, said a PwC report. "In terms of admissions, India is currently the biggest cinema market in the world," it added.

India #2 Among Emerging Markets in Fixed Income Returns 

India is poised to offer the second-highest returns among emerging markets, after Mexico, on fixed income investments, and provide further tailwind for foreign capital flow into the economy. High returns and a stable currency are the potent combination that can draw global investors to India.


Study: Indian E-commerce to Hit $32 Billion in 2016
The latest study by the Internet and Mobile Association of India has found that at a growth rate of about 30 percent between December 2011 and December 2015, Indian digital commerce stands at nearly $19 billion. The report estimates that it will hit nearly $32 billion this year.