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

Industry Lauds Modi's Signals to Make India Manufacturing, Export Hub

"We are now confident that the 'Make in India' and 'Made in India' vision will be supported by requisite policy and implementation measures for enhancing the competitiveness of our manufacturing sector," the Federation of Indian Chambers of Commerce and Industry said in a statement. The group said the Prime Minister gave clear signals to domestic and global investors to make India an international manufacturing and export hub.  


Donald Trump Seeks to invest in India

Real estate mogul Donald Trump is involved in two real estate projects - Trump Tower with Lodha Group in Mumbai and a luxury residential project with Panchshil Realty in Pune. Trump, on his maiden Indian visit, compared Mumbai with New York, adding that he plans to raise his investments in Mumbai and India.

India Lends More to U.S. than Canada, Germany or France

India is now among the 16 top lenders to the United States, with its investments in U.S. government bonds hitting a new high in June at $73 billion. India has now lent more than Canada, Germany or France to the world's most powerful economy.

Samsung President: India to be World's Factory Hub 
South Korean electronics giant Samsung says India is set to become the next global factory, citing the country's available talent and need for job creation. "China is losing the competitiveness very rapidly today," said B.D. Park, Samsung's president and CEO for South West Asia.
Foreign Institutional Investment Inflow to Top $50 Billion by FY 2015
Growing geo-political concerns have made Indian markets more attractive among BRIC nations, say analysts. According to them, foreign inflows may top $50 billion by Fiscal Year 2015, if the Government can execute key economic reforms.


India is World's No. 5 Wind Power Producer  

According to a report, India is ranked fifth among global wind power producers. India, which added more than 4,000 MW renewable capacity in 2013 plans to increase the capacity to 55,000 MW by 2017 from the current level of around 30,000 MW.

Key Policy Decisions

Modi Invites Global Firms to 'Come, Make in India'

In his first Independence Day address, Prime Minister Modi exhorted the world to "come, make in India," inviting global firms to set up manufacturing bases there. The effort is Modi's biggest push to fix a number of economic problems - low job creation, slow growth and a big trade gap - in one go. "Be it plastics or cars or satellites or agricultural products, come make in India," the Prime Minister said.     

Govt. Launches Online Platform for All Project Approvals

The Government has launched a fresh initiative to help companies get the more than five dozen approvals needed to start a project through a single online platform as part of its attempt to make it easier to do business in India.
Local Jurisdictions Can Give Green OK to Railway and Road Projects

Prime Minister Modi has appointed a ministerial committee to clear outstanding issues involving railways and green clearances for road projects entailing investment of at least $8.2 billion. The Environment Ministry will soon delegate power to the State Government and regional offices of the environment and forest ministry to clear linear projects involving forest up to 100 acres.   


Govt. to Pay Banks Fee for Pursuing Financial Inclusion Plan     

The Government has agreed to give banks a commission for pursuing the financial inclusion plan announced by the Prime Minister on Independence Day. Under the plan, every household in rural India will have access to a bank account and a debit card with $2,000 insurance cover. Nearly 60 percent of the Indian population does not have access to formal banking service

Abolition of Two Taxes for Special Economic Zones

The Ministry of Commerce and Industry (Department of Commerce) has recommended the restoration of original exemption from Minimum Alternate Tax and Dividend Distribution Tax to Special Economic Zone developers and units, making them more attractive to investors.       

Market Regulator Gets More Muscle to Fight Fraud
Tightening the regulatory noose on fraudsters, the Parliament cleared a key bill to allow the Securities and Exchange Board of India to act against Ponzi schemes and market manipulators more effectively with powers for search and seizure, attachment of assets, arrest of defaulters and access to call data records.

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