Greetings from the Embassy of India in Washington DC!
Welcome to the May 8, 2020, edition of our newsletter, bringing you important policy and high-impact news about India.
I hope you find it useful.
-- Shambhu Hakki, First Secretary (Political & Press, Information and Culture)
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Cabinet Approves $1,971,223,500 Package to Fight COVID-19 Outbreak
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The Union Cabinet chaired by Prime Minister Modi approved a $1,971,223,500 investment for 'India COVID-19 Emergency Response and Health System Preparedness Package'. The funds will be utilized in three phases, beginning with active COVID-19 response measures. The remainder will prioritize mounting a robust emergency response, strengthening National and State health systems and strengthening pandemic research and multi-sector national institutions and platforms.
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RBI Announces Measures to Re-Ignite Indian Economy
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Governor of the Reserve Bank of India, Shaktikanta Das announced a set of nine measures to revive the struggling domestic economy. This follows the earlier set of measures announced by RBI on March 27, 2020. The additional measures will:
- Maintain adequate liquidity in the system and its constituents in the face of COVID-19 related dislocations
- Facilitate and incentivize bank credit flows
- Ease financial stress
- Enable the normal functioning of markets
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The Government of India has reviewed and amended the existing Foreign Direct Investment (FDI) policy for curbing opportunistic takeovers and acquisitions of Indian companies due to the current COVID-19 pandemic. The newly revised policy will protect domestic Indian companies from opportunistic and potentially hostile takeovers.
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SEBI Extends Regulatory Compliance Timelines For Depositories, Depository Participants
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In an effort to relieve the economic effects of COVID-19, SEBI, an Indian market regulator, announced recently the extension of timelines for depositories and depository participants to comply with regulatory requirements. The extensions range from two to six months. SEBI's announcement can be found
here
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India Modernizes The Epidemic Diseases Act, 1897 To Effectively Address COVID-19
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The Union Cabinet approved an Ordinance to amend the Epidemic Diseases Act, 1897 to protect healthcare service personnel and their property, including their living and working premises, against violence and theft. The Ordinance makes possible the protection and compensation of healthcare professionals. The President of India has given his assent for promulgation of the Ordinance.
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Lockdown extended by two weeks from May 4 with some relaxations
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After a comprehensive review, and in view of the Lockdown measures having led to significant gains in the COVID-19 situation in the country, Ministry of Home Affairs (MHA), Government of India (GoI) issued an Order under the Disaster Management Act, 2005, today, to further extend the Lockdown for a further period of 2 weeks with effect from May 4, 2020. MHA also issued new guidelines to regulate different activities in this period, based on the risk profiling of the districts of the country into Red (hotspot), Green and Orange Zones. The guidelines have permitted considerable relaxations in the districts falling in the Green and Orange Zones.
Click here to see the New Guidelines on Lockdown Measures
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External Affairs Minister S. Jaishankar’s Call with U.S. Secretary of State Michael R. Pompeo
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Minister Jaishankar and U.S. Secretary of State Mike Pompeo spoke on April 23, 2020 and discussed bilateral and international cooperation to contain and mitigate COVID-19, including ensuring the availability of pharmaceutical and medical supplies. Jaishankar and Pompeo agreed on
the importance of continued close cooperation between the United States and India to combat this international crisis, including strengthening global pharmaceutical and healthcare manufacturing and supply chains.
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Facebook bets on India with $5.7 billion Reliance deal
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Facebook is set to spend $5.7 billion to buy a 9.99% stake in Reliance Industries’ digital arm, as it looks to roll out services for India’s grocers and small businesses by capitalizing on WhatsApp’s extensive reach in the country. The deal announced on Wednesday is Facebook’s biggest since its $22 billion buyout of WhatsApp in 2014.
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Union Agriculture Minister Participates in G-20 Extraordinary Agriculture Ministers Meeting
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Union Agriculture Minister Shri Narendra Singh Tomar participated in an Extraordinary virtual meeting of G-20 Agriculture Ministers to address the issue of COVID-19’s impact on food security, safety and nutrition. He discussed India’s decision to exempt all agriculture operations from lockdown restrictions. The G-20 nations agreed that international cooperation was necessary to avoid food waste, food loss and to maintain the continuity of the food supply value chain across borders.
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Government Launches Online Data Pool Of Critical Human Resources For Combating And Containing COVID-19
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The Union Government has created an online data pool of doctors including AYUSH doctors, nurses and other health care professionals and volunteers for use by the ground level administration at state, district or municipal levels. The information has been uploaded on a dashboard which is regularly updated and can be found
here.
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COVID-19: Disinfection In Varanasi Using Special Drones
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Invest India, India’s National Investment Promotion Agency have closely collaborated through the AGNI Mission, and Invest India’s Business Immunity Platform (BIP) - to facilitate the use of specially designed drones to support Covid-19 disinfection in Varanasi.
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India Provided 2.8 Million Anti-Malaria Drug To Other Countries: Centre
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New Delhi: The Ministry of External Affairs (MEA) on Thursday said that India has provided 2.8 million hydroxychloroquine (HCQ) tablets, an anti-malarial drug, deemed useful in dealing with COVID-19, and 1.9 million paracetamol tablets as part of its assistance to other countries to fight the coronavirus pandemic.
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‘
Lifeline Udan’ Workers Deliver Over 684 Tones of Medical Supplies
Lifeline Udan’ flights are transporting essential medical cargo to remote parts of the country in support of India’s war against COVID-19. So far, over 684 tons of essential medical cargo have been delivered across the country. 383 flights have been operated under Lifeline Udan by Air India, Alliance Air, IAF and private carriers. Air India will operate dedicated scheduled cargo flights to other countries for the transfer of critical medical supplies.
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India Provides Over 6 Tonnes of Medical Equipment and Aid to Maldives
The Indian Air Force (IAF) delivered more than 6 tons of essential medical equipment to the Maldives in a heroic operation dubbed Operation Sanjeevani. Supplies comprised of crucial medicines including influenza vaccines and anti-viral drugs, as well as much needed medical equipment. Supplies were lifted from airports in New Delhi, Mumbai, Chennai and Madurai with the help of the Indian Army before it was transported to the Maldives.
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Indian-American-led clinical trial of remdesivir in Covid-19 treatment shows positive results
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The phase three clinical trial of the antiviral drug remdesivir, led by a team of investigators including an Indian-American physician, for the treatment of the coronavirus patients has shown positive results, a US pharma company announced.
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