Greetings from the Embassy of India in Washington DC!
Welcome to the Spring 2023, edition of our newsletter, bringing you important policy and high-impact news about India.
We hope you find it useful.
Press, Information and Culture Wing
| | President Joe Biden to host Prime Minister Modi for an Official State Visit to the United States | President Joe Biden and First Lady Jill Biden will host Prime Minister Narendra Modi of the Republic of India for an Official State Visit to the United States, which will include a state dinner, on June 22, 2023. The upcoming visit will affirm the deep and close partnership between the United States and India and the warm bonds of family and friendship that link Americans and Indians together. | | Apple CEO Opens Apple’s First Store in India | Apple’s CEO Tim Cook was in India in April to open its first physical stores in the country, marking a milestone for the iPhone maker in the world’s second largest smartphone market. The move comes as the world’s most valuable company continues to pivot to India, eyeing its potential as both a consumer market and manufacturing base. “India has such a beautiful culture and an incredible energy,” Cook said. “We’re excited to build on our long-standing history — supporting our customers, investing in local communities, and working together to build a better future.” | | Amazon’s Cloud to Invest $10bn in India | Amazon.com Inc's cloud computing unit will invest 1.06 trillion rupees ($13 billion) in India by the end of this decade, doubling down on its past investments to cater to the growing demand for such services in Asia's fastest-growing economy. This comes on top of its $6.5 billion investment in e-commerce in India, where it has rapidly expanded over the years. The latest investment will be used to build its cloud infrastructure in India and will support over 100,000 full-time jobs annually. | | Triumph: India’s Tiger Population Rebounds | On July 18 the Ministerial meeting of the U.S.-India Strategic Clean Energy Partnership (SCEP) was held between Indian Minister of Petroleum and Natural Gas His Excellency Hardeep S. Puri and U.S. Secretary of Energy Jennifer M. Granholm in New Delhi. During the meeting, the sides noted the growing importance of bilateral energy cooperation between the countries while underscoring the critical importance of bilateral clean energy engagement and the achievements of the SCEP in strengthening energy security, creating opportunities for clean energy innovation, addressing climate change and creating employment generation opportunities. | | India’s Economy Gains Pace | India's economic growth accelerated to 6.1% in the March quarter, government data showed, boosted by government and private capital spending. The recent data reading showed India remains one of the fastest growing emerging economies. The Prime Minister said, “The 2022-23 GDP growth figures underscore the resilience of the Indian economy amidst global challenges. This robust performance along with overall optimism and compelling macro-economic indicators, exemplify the promising trajectory of our economy and the tenacity of our people.” | | India to Become Third Largest Economy by 2027 | Union Minister Piyush Goyal said that India will become the third-largest economy by 2027. “Now we are the 5th largest economy. By 2027-28, we will be the third-largest economy in the world. India is a 3.5 trillion-dollar economy today and will become a 30-35 dollar trillion economy by 2047 when we celebrate 100 years of independence," the Union Minister added. | | Indian StartUps Blossom Over Last Nine Years | | During the National Innovation Awards ceremony, Union Minister Dr. Jitendra Singh explained that over the last nine years Indian startups grew 300%. The Minister said that there were just around 350 StartUps before 2014, but after Prime Minister Narendra Modi gave the clarion call from the ramparts of the Red Fort in his Independence Day address and rolled out special StartUp scheme in 2016, there has been a quantum jump in StartUps to more than 90,000 with more than 100 Unicorns. | |
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