Welcome to the latest bulletin of key policy decisions and high-impact news from India, presented by the Embassy of India, in Washington D.C.
High-Impact News

Indian Exports Speed Up in May, Trade Talks Planned with U.S.


India's exports increased at the fastest pace in six months in May, in a boost for Prime Minister Modi's new Government as it signaled a push to improve trade ties with the U.S. Trade Secretary Rajeev Kher said the two countries are planning to start trade talks and could hold a ministerial level engagement.

India World's 10th-largest Business Travel Market

India is now the world's 10th-largest business travel market and is likely to climb the rankings in coming years, a new report said. The Global Business Travel Association said that India's business travel sector has grown considerably in the past 15 years, propelling the country from 24th in the global rankings in 2000 to 10th in 2013. 


Foreign Institutional Investment Inflows Hit $5.7 billion in May

Overseas investors pumped nearly $5.7 billion into the Indian market last month on hopes that the new Government will push reforms and spur economic growth. Institutional investors poured $2.4 billion into Indian securities and $3.3 billion into the Indian debt market in May.

Analyst: India Can be $5 Trillion Economy by 2025
A steady pace of implementation of policy reforms will lay the foundations for India's real GDP growth to move higher to an average of 6.75% over the next 10 years, according to a Morgan Stanley analyst. If projections come to fruition, India's economy would pass the $5 trillion mark by 2025 and would lift India to the fifth-largest world economy.

India Leads Global Growth in Mobile Users
According to a report from telecom equipment maker Ericsson, Indian mobile operators added 28 million new users during the first quarter of 2014. Overall, global mobile subscriptions grew 7 percent in the January-March period at 120 million net additions. The top five countries, led by India, accounted for more than 50 percent of new mobile subscriptions in the first quarter.

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Key Policy Decisions

Pres. Mukherjee Outlines Roadmap for New Govt.  

Addressing the joint session of Parliament, President Mukherjee laid out the roadmap for the new Government headed by Prime Minister Modi. The President emphasized key issues that the Prime Minister plans to tackle and his plans for reviving the economy.  




Modi Urges Top Officials to Lead Decisively, Simplify Bureaucracy        


Prime Minister Modi met with Ministry Secretaries and senior officers of Government Departments and urged them to simplify and streamline administrative rules and procedures to make them people-friendly. He also encouraged the officers to make decisions and assured them that he would stand by them. He added that in the process of governance, ideas should be converted into institutions because institutions last longer than individuals.  

India to Enact Code for Green Buildings by 2017

By 2017, all state governments must implement minimum requirements for energy efficient design and construction set by the central Government to meet the challenges of depleting resources, increased urbanization and rapid construction, according to a top official


Reserve Bank Allows Automatic Foreign Investment in Insurance Sector       


The Reserve Bank of India said that overseas investors, including foreign portfolio investors and Non Resident Indians, can invest up to 26 percent in insurance and allied activities through the automatic route. Companies bringing in foreign investment must obtain the necessary license from the Insurance Regulatory and Development Authority.


Reserve Bank Eases Rules for Foreign Investors in Currency Derivatives

To enhance the depth of the foreign exchange market, the Reserve Bank of India is allowing foreign investors to participate in the domestic exchange-traded currency derivatives, a segment where volumes have declined. "It has been decided to allow foreign portfolio investors to participate in the domestic exchange-traded currency derivatives market to the extent of their underlying exposures plus an additional $10 million," the Bank said.   

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