India - Partner In Growth
Welcome to the March 17, 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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Railways to Develop 3 Dedicated Freight Corridors 
Focusing on the development of railway freight corridors, Railway Minister Suresh Prabhu has announced the developm ent of the Delhi-Chennai, Kharagpur-Mumbai and Kharagpur-Vijayawada railway corridors on a priority basis. The projects will be funded through innovative models including public-private partnership.
India, IMF to Set Up Training and Technical Assistance Center 
Finance Minister Arun Jaitley and IMF Managing Director Christine Lagarde have signed a memorandum of understanding to establish a training and technical assistance center in New Delhi that would serve as the focal point for planning, coordinating, and implementing the IMF's capacity development activities in the region on a wide range of areas. 

Improved Foreign Investment Rules for NRIs, Indian-Owned Firms 
Non-Resident Indians (NRI) can now engage in foreign direct investment (FDI) in India in most sectors up to 100 percent, under new Government policy designed to make FDI more investor-friendly. Foreign Direct Investment policy is reviewed on an ongoing basis.
Mining Regulations Improved to Help Mergers, Liquidations 
The Government has approved a proposal to amend the Mining and Minerals Development and Regulation Act to allow the transfer of captive mining leases not granted through auction. The move is aimed at allowing mergers and acquisitions of companies and facilitating banks and financial institutions to liquidate stressed assets where a company or its captive mining lease is mortgaged. 

Govt. Eases Procurement Rules for Start-Ups
The Government has relaxed procurement rules related to experience and turnover for micro, small and medium start-ups to enable these ventures to be part of its public procurement. Starting in April, all state-owned firms, central Government ministries and departments must procure at least 20 percent of needed products and services from micro and small enterprises. 


India To Launch 12 American Satellites in 2016-17
India will launch 25 foreign satellites in 2016-17, using the Polar Satellite Launch Vehicle, including 12 from the U.S. India has used the system to launch 57 satellites from 21 foreign countries.  The PSLV with its string of successful flights has emerged as one of the most reliable launch vehicles in the world. 
Maritime India Summit to be Held in Mumbai
Maritime India Summit 2016, the Shipping Ministry's flagship event, will be held in Mumbai from April 14-16, 2016. The conference will explore potential business opportunities in the country's maritime sector. An exhibition along with demonstration sessions will showcase the latest technology, products and services. The objective of the conference is to explore potential business opportunities in the country's maritime sector.

IT Minister: Digital India will be $1 Trillion Business Opportunity
Digital India will be a $1 trillion business opportunity, combining the requirements of the telecoms, IT/ITeS and electronics manufacturing sectors, Communications and IT Minister Ravi Shankar Prasad, adding that the Govt. is building a robust broadband infrastructure for digital delivery of services, including e-education and e-health. 

Tata Consultancy a Top Employer in U.S. 2nd Straight Year
Tata Consultancy Services has been named as a top employer in the U.S. for a second consecutive year by the Top Employers Institute, an employer certification agency. TCS was recognized for its exceptional performance in talent strategy, workforce planning, learning and development, leadership development and several other categories.

U.S. Govt. Road Show on Clean Energy to Visit 4 Indian Cities 
Aimed at nurturing innovation in clean energy technologies in India, a U.S. government road show will visit four Indian cities next week -- New Delhi, Gurgaon, Ahmedabad and Hyderabad. A high-powered U.S. delegation led by the Assistant Secretary of State for Economic and Business Affairs Charles Rivkin will meet with Government officials, civil society groups and entrepreneurs.