India - Partner In Growth
Welcome to the December 30, 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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NITI Aayog Launches National Index for Performance on Health Outcomes
A "Performance on Health Outcomes" index, spearheaded by NITI Aayog, along with the Ministry of Health and Family Welfare, meant to nudge States toward transformative action in the health sector, was recently launched. The Index is designed to make improvements in the social sector, which has not kept pace with economic growth in this country. 

Govt. Invites Comments, Suggestions on Report on Digital Payments

The Government is seeking public comment on its report on digital payments. Among the steps to be taken was the constitution of the Committee by the Department of Economic Affairs, Ministry of Finance with key industry stakeholders, Reserve Bank of India and concerned Government Departments to review medium-term measures necessary to promote the digital payment system in India. The report is viewable at

After Demonetization, Govt. Takes Initiatives to Ensure No Impact on Tourism 

After demonetization, the Government has taken a number of steps to ensure that no hardship is faced by tourists to India and the industry is not affected. So far, Government efforts have paid dividends as there has been a notable growth in the comparative figures of foreign tourist arrivals, foreign exchange earnings and the online sale of e - tickets after demonetization. 

India OKs Ratification of Intl. Solar Pact
The Government has approved India's ratification of the International Solar Alliance's Framework Agreement, upping India's commitment to global leadership in the solar sector. The ISA will strive to bring together more than 121 solar resource-rich nations for coordinated research, low-cost financing and rapid deployment.

India Moves Into Future of Ethanol Fuel
The Government is encouraging production of second-generation ethanol from agricultural residues to provide additional sources of income for farmers, address growing environmental concerns and support the ethanol-blended gasoline program for achieving 10 percent ethanol-blending in gasoline.  The Bathinda Bio-refinery will use agriculture residues for production of 100 KL per day, which may be sufficient to meet the State's 26 percent ethanol-blending requirement.                                                                       
PM Modi Calls for Innovation at Niti Ayog Economics Session
Prime Minister Modi called for innovation in skill development and tourism during an interactive session with economists and other experts, organized by NITI Aayog, on the theme of "Economic Policy - The Road Ahead." During the session, participants shared their views on skill development and job creation, taxation and tariff-related matters, education, digital technology, housing, tourism and other topics.

Govt. Appoints NYU Economist Acharya as New Reserve Bank Deputy Governor
The Government appointed New York University professor Viral Achary to a three-year term as one of four Deputy Governors of the Reserve Bank of India. Achayra was chosen from more than 100 candidates as the Government, for the first time, advertised for the post of a Deputy Governor of the Central Bank.   

Equity, Venture Firms Raise $4.9 Billion via India-Focused Funds in 2016
Private equity and venture capital firms set new fund-raising milestones and raised a combined $4.9 billion in 2016 across 33 India-dedicated funds, according to research and analytics firm Venture Intelligence. This was up 9 percent from 2015.

India, Global CEOs to Interact with PM Modi at Vibrant Gujarat Summit
Some 50 top CEOs from India and around the world will interact with Prime Minister Modi and Finance Minister Jaitley during the Vibrant Gujarat Global Summit on Jan. 10, 2017, in Gujarat.  Cisco Chairman John Chambers will lead a U.S. business delegation. Others expected to attend include President of Boeing International, Bertrand-Marc Allen, and the CEO of French electricity giant EDF, Jean-Bernard Levy.  Discussions will include the upcoming GST implementation the post-demonetization landscape

Govt. Creates Body to Oversee Development of All Industrial Corridors
The National Industrial Corridor Development & Implementation Trust (NICDIT) will oversee the development of all industrial corridors across the country. NICDIT will implement all five proposed industrial corridors, together covering 15 States. The Delhi-Mumbai Industrial Corridor, the first of the planned corridors, is under development.