India - Partner In Growth
Welcome to the July 30, 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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Govt. Overhauling Sister-City Partnerships For Efficacy 

The Government is overhauling its sister-city arrangements to leverage the partnerships for mutual economic goals. India has more than 100 sister-city partnerships that the Government hopes to transform into tools for attracting investment. 



Oil & Gas Minister Mulling Green Energy Corridors

The Ministry of Petroleum & Natural Gas is considering development of green energy corridors across the country. The ministry is planning to extend the network of green fuels, such as compressed natural gas and piped natural gas, to these cities.  


Minister: 55 Solar Cities Being Developed Across 27 Indian States

As many as 55 cities in 27 States and Union Territories are currently being developed as solar or green cities in the country under Development of Solar Cities program, said Power and New & Renewable Energy Minister Piyush Goyal. 




Govt. Extends, Expands Benefits for Electronics Makers

The Government has extended the modified special incentive package scheme - a program providing capital subsidy to units engaged in electronics manufacturing - until 2020. The program has been expanded to cover 15 new product categories, including refrigerators and microwaves, electronic product design, optical fibers, raw materials for electronic products, capital equipment for electronics manufacturing, smart cards and liquid crystal modules.  

Ministry OKs Filing of Unaudited Accounts of Foreign Subsidiaries with Registrar of Companies

The Corporate Affairs Ministry has relaxed the norms requiring Indian companies with overseas subsidiaries to file audited financial statements of their subsidiaries with the Registrar of Companies in India. The Ministry has now clarified that even unaudited financial statements of foreign subsidiaries can be filed with the Registrar and will be treated as due compliance of Indian company law. 


U.S. Senate's India Caucus Welcomes Amb. Arun K. Singh

Top American senators have vowed to strengthen India-U.S. strategic and trade relationships, saying the ties between the two countries have become strong. At a reception hosted for the new Indian Ambassador to the U.S., Arun K. Singh, Sens. John Cornyn (R-Texas) and Mark Warner (D-Va.) said the two democracies share common values and ideals. 

USIBC: Indian Medical Device Sector Should Hit $7 Billion in 2016 

The Indian medical device industry, currently the fourth largest in Asia, has the potential to grow from $4.4 billion to $7 billion by 2016, said the U.S.-India Business Council (USIBC). The industry is expected to grow at a higher rate as health insurance becomes more widely available and Indian consumers continue to demand better healthcare services, the USIBC said.


SunEdison Inks Solar Pact with Tata Power for Delhi

SunEdison, the world's largest renewable energy development company, announced a long-term power purchase agreement with Tata Power Delhi Distribution to provide 180 megawatts of solar power for New Delhi. This is the largest agreement that SunEdison has signed under the open access solar framework, which allows renewable energy providers to sell energy directly through the national grid to end customers. 

Transactions By Digital Wallets Up Three Times

Digital wallets in India is becoming popular with an almost three-fold surge in such transactions between February and April this year. According to Reserve Bank of India data, about 6.7 crore transactions through digital wallets worth US$185 million were recorded in April. 




GE Targets 100 Made-in-India Products by 2020

Having invested $200 million into healthcare in India so far, and launched 26 made-in-India products, GE Healthcare says it plans to launch 74 new and affordable products that are developed and manufactured in India by 2020.