India - Partner In Growth
Welcome to the June 9, 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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India and U.S.: Enduring Global Partners in the 21st Century
India and the U.S. issued a joint statement during Prime Minister Modi's meeting with President Obama in the White House. They pledged to pursue new opportunities to bolster economic growth and sustainable development, promote peace and security at home and around the world, strengthen inclusive, democratic governance and respect for universal human rights, and provide global leadership on issues of shared interest.

Memo Signed for Development of International Expedited Travel
India and the U.S. signed a memorandum of understanding for the development of an International Expedited Traveler Initiative (also known as the Global Entry Program). India's entry into the program will allow Indian citizens to apply for pre-approved, low-risk traveler status. 

India, U.S. Sign Memo to Fight Wildlife Trafficking

India and the U.S. signed a memorandum of understanding to enhance cooperation on wildlife conservation and combating wildlife trafficking. Both sides commit to cooperate regionally and globally to combat illegal trade in wildlife by adding additional resources, strengthening cooperation and sharing best practices.

India, U.S. to Enhance Cooperation on Range of Energy Issues

India and the U.S. signed a memorandum of understanding to enhance cooperation on energy security, clean energy and climate change. This bilateral engagement is intended to increase incentives for innovation, including research and development, and voluntary and mutually-agreed technology transfer, as well as the deployment of clean energy technologies in both countries.
India, U.S. Agree to Exchange Terrorist Screening Information 
India and the U.S. have agreed to exchange terrorist screening information. Both sides will provide each other access to terrorism screening information through the designated contact points, subject to domestic laws and regulations.

PM Modi Addresses Joint Meeting of the U.S. Congress
During his historic address to the Joint Session of the U.S. Congress on June 8, 2016, Prime Minister Modi said the India - U.S. relationship is primed for a momentous future.  "As the U.S. businesses search for new areas of economic growth, markets for their goods, a pool of skilled resources, and global locations to produce and manufacture, India could be their ideal partner," he added.

Modi at USIBC: India is a Reliable Partner

While addressing the 41st Leadership Summit of the U.S.- India Business Council, Prime Minister Modi said that India is much more than a market. He said India is a reliable partner, a source of high quality scientific, engineering and managerial talent, a crucible of development ideas and experiments, an efficient source of high quality R&D, and a testimony that democracy and rapid growth can co-exist.

Record $40 Billion in Private Equity Investments
 in Two Years 
The rising significance of private equity (PE) investments is evident by their contribution to foreign direct investment (FDI) flow into the country. According to Bain & Company, the PE sector contributed $24 billion out of the $37 billion net FDI in 2015. In the previous year, PEs contributed about $15 billion of the $22 billion net FDI. 

FM Jaitley: Economy to More than Double to $5 Trillion in a Few Years

Speaking at the India Investment Promotion Seminar organized by CII and DIPP, Finance Minister Arun Jaitley said the Indian economy will more than double to $5 trillion within few years as the Government steps up reforms agenda to accelerate growth.

GoPro Launches in India with Reliance Digital Partnership

GoPro, maker of action cameras, has announced its launch in India with a partnership with Reliance Digital. The cameras will also be available online on Amazon. The U.S. company may also consider setting up a manufacturing operation in India.