India - Partner In Growth
Welcome to the April 9th, 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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Special Economic Zones to Get Equal Tax Incentive Treatment 
In a bid to promote exports from Special Economic Zones (SEZ), the Government has extended incentives to such units that are available to other exporters. "It is hoped that this measure will give a new impetus to development and growth of SEZs in the country," said Commerce and Industry Minister Nirmala Sitharaman.

Govt. Amends Rules for Infrastructure Public-Private Partnerships 
The Government has approved amendments to the Public Private Partnerships (PPP) guidelines to enhance financial support to infrastructure projects. Approval has also been given to the Finance Minister to allow any amendment to a plan that does not result in material alteration to the plan.

India to Sign Intl. Pact on Dry Ports 

The Government has given the nod to an inter-governmental agreement on dry ports that will facilitate and expand international goods transport. To be signed at the United Nations, the agreement follows a resolution of the U.N. Economic and Social Commission for Asia and the Pacific regarding development of dry ports within its member countries, including India.



Govt. to Boost Electric, Hybrid Vehicle Sales

To boost eco-friendly vehicles sales, the Government has launched a plan to provide $128 million until 2020 for the manufacture and sale of electric and hybrid vehicles. The plan includes a wide range of motorized vehicles, from two-wheelers to buses.


Reserve Bank Lets Banks Invest in Long-Term Infrastructure Bonds

In a bid to boost infrastructure investment, the Reserve Bank of India (RBI) will allow banks to invest in long-term infrastructure bonds issued by other banks. Previously, the RBI okayed banks to issue long-term bonds for lending to long-term projects in infrastructure sub-sectors, and affordable housing. However, cross-holding of such bonds among banks was not permitted.


Modi: Investing in India Yields World's Highest Returns 
India can offer higher returns than any other country to global investors, Prime Minister Modi said. "Those who invest here, whatever returns they may be reaping in the rest of the world, this country has the strength to give higher returns than that," the PM said.

Indian FOREX Reserves Shoot Up Under New Govt.
India's foreign exchange reserves rose $1.4 billion in the last week of March alone, putting the Reserve Bank of India's rainy day fund at $341.4 billion. India is no longer far behind its BRIC peers. The rupee has been as stable as the Chinese yuan.

Study: India Still 2nd-Most Economically Confident Nation

India continues to be the second-most economically confident nation globally on the back of improved performance by industry and services sector, according to a report by global research firm Ipsos. According to the study, Saudi Arabia solidified its position at the top of the national economic assessment in February 2015, followed by India, Germany, Sweden and China.



Foreign Portfolio Investors Remain Bullish on India

Buoyed by the recent Government-backed reforms and hopes of a strong revival in India's economic growth, foreign players increased their investments in the Indian equities markets by nearly 40 percent in 2014-15. "The trend will continue. India will remain one of the most attractive markets to invest in the world," said the head of research at Geojit BNP Paribas Financial Services .


Air India Takes Delivery of 20th Boeing Dreamliner

Air India has taken delivery of its 20th Dreamliner from U.S. manufacturer Boeing, a milestone which it said highlights their "successful partnership." Seven more Dreamliners are scheduled to be delivered.