India - Partner In Growth
Welcome to the September 24 2015 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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KEY POLICY DECISIONS
National Offshore Wind Energy Policy OK'd 
The Government has given its approval to the National Offshore Wind Energy Policy, paving the way for offshore wind energy development including setting up of offshore projects and research and development activities.  Preliminary assessments along the 7600 km long Indian coastline have indicated excellent prospects of development of offshore wind power. 




Foreign Investment Allowed via Partly Paid Shares, Warrants
The Government has decided to consider foreign investments in partly paid shares and warrants eligible instruments under the foreign direct investment policy, bringing greater flexibility in their use to raise capital. Until now, warrants and partly paid shares could be issued to foreign investors only after approval through the Government route. 



 

E-Visa Facility to Extend to 37 More Countries
The e-Visa facility will be extended to 37 more countries to attract more foreign tourists, tourism secretary Vinod Zuthsi said. A total of 22,286 tourists used e-Visa facility to visit India in August this year, compared to 2705 in August, 2014. 
 

 

Govt Appoints Agency to implement E - Development Fund
The government has appointed CANBANK Venture Capital Fund Ltd (CVCFL) as the agency to implement the Electronics Development Fund (EDF). The EDF is set up as a 'Fund of Funds' to participate in 'Daughter Funds' which in turn will provide risk capital to companies developing new technologies in the area of electronics, nano-electronics and Information Technology (IT). 

 
 
HIGH-IMPACT NEWS
India, U.S. Hold First Strategic and Commercial Dialogue
India and the U.S. held their first Strategic and Commercial Dialogue, days ahead of Prime Minister Modi's visit to the United States. Indian External Affairs Minister Sushma Swaraj, Indian Minister of State for Commerce and Industry Nirmala Sitharaman along with United States Secretary of State John Kerry and United States Commerce Secretary Penny Pritzker addressed a joint press conference at the end of series of wide ranging engagements. 



Pew Survey: Indians adore Modi
A new poll by Pew Research Center shows that one year after history-making political change swept the country, Indians' fervor for their leader Narendra Modi is on the rise.  Support to Prime Minister and people's optimism have soared in India under Modi, the survey shows.


 

Commerce Minister: India a 'Shining Star' in Global Economy
India "stands out" as a "shining star" in the global economy and is sustaining momentum despite challenges, even as other large economies experience problems, Commerce and Industry Minister Nirmala Sitharaman said. 






Energy Minister Invites U.S. Firms to Invest in Energy Sector
The power and energy ministers of India and the U.S. agreed to bilateral collaboration and technical assistance in the energy sector during the India-U.S. Ministerial Energy Dialogue held in Washington. Piyush Goyal, Minister of State for Power, Coal, New and Renewable Energy, invited U.S. firms to invest in the Indian energy sector to support the country's energy needs with resources and technology.