India is expected to witness an accelerated pace of development in the coming couple of years as a report by Bank of America Securities India on Wednesday said the country is on course to build more national highways and rail lines during the decade ending 2025 than it has cumulatively done between 1950 and 2015.

The report says that the total length of national highways is in the country is expected to reach 1.8 lakh kilometres, while that of the railway lines 1.2 lakh kilometres by 2025.

Between 1950 and 2015, the nation built only 4,000 kilometres of national highways, taking the total length to 77,000 kilometres in 2015. However the highway length is on course to cross 1.8 lakh kilometres registering a growth of 133 % by 2025 which is an tremendous growth in ten years time.

When it comes to the rail network, the nation had only 10,000 kilometres of rail lines in 1950, which rose to 63,000 kilometres in 2015. But it is slated to touch 1.2 lakh kilometres in 2025, the report said. Thus, railways will see around a 90 % increase in its length.

The port capacity which was only 777 MTPA (Million Tonnes per Annum) in 1995 rose to 1,911 MTPA in 2015 and is on course to more than double to 3,000 MTPA by 2025, it said.

The country has been rapidly augmenting transportation and basic infrastructure capacity across sectors such as highways and railways since 2015.

Reporting about other bench mark achievements in accessibility to basic infrastructure the report noted-

sanitation access has touched 89% of the population in 2021 from 43 % in 2015
cooking gas coverage reached 100 % in 2021 from 56 % in 2015
96 % households have electricity access now up from 56 % in 2000
tap water coverage is 52 % now from 13 % in 2015 and is likely to be 100 % coverage by 2024
piped gas connections is at 10 million now from 2.5 million in 2015 and
affordable rural housing is at 25 million now up from 1 million in 2015, the report said.
Environment and sustainability
Talking about environment, on the de-carbonisation front, the report said that the country will be spending USD 385 billion over 2015-30 just to meet its 2030 de-carbonisation goals, which will accelerate materially over time and help it transition to the net-zero goal by 2070.

On the financial front, and financial digitisation front, the report said bank account penetration has reached 80 % now from 35 % in 2011.

The report read, “We see the 2015 Paris agreement as an inflection point in our efforts towards de-carbonisation. In fact, we are leading the de-carbonisation efforts globally in spearheading the International Solar Alliance; pace of execution — the fastest transition globally from Euro IV to VI norms and is on track to exceed its Paris agreement targets for 2030; and pollution norms stringency for gensets and energy efficiency norms for ACs are likely to be most stringent globally.”

The rapid de-carbonisation will also lead to a cut in diesel intake as natural gas will constitute 15 % of the energy mix and ethanol blending in petrol will touch 20 % from 5 % now by 2030, up from 6 % in 2021; renewable capacity will reach 450 GW by 2030 from 101 GW in 2021.

The report sees all these leading to a capex of $ 385 billion and 106 GW energy savings and 1.1 billion tonne per annum CO2 reduction by 2030.

India is embarked on a journey to restore itself to the top of the global leadership tables in terms of economy and prosperity, the head of an India-centric American business group has said, underlining that US companies are geared up to be part of the country’s ambitious vision to become a USD 30 trillion economy.

“I think it’s clear that India is going to grow in every decade of the 21st century. It’s gonna rise to be one of the biggest economies in the world, if not the biggest economy in the world,” Atul Keshap, the president of the US India Business Council (USIBC) told PTI.

“I’ve heard Indian officials talk about India potentially becoming a USD30 trillion economy,” he said.
A lot of American companies and members of the USIBC understand and appreciate that vision, Keshap said.
“India is embarked upon a journey to restore itself to the top of the global leadership tables in terms of economy and prosperity. India used to occupy as much as 25 per cent of the global GDP. I think that potential is there,” he said.
Keshap said that American companies are excited and geared up to be part of India’s ambitious journey.
“And I think that Americans want to see democracies succeed and they want to see democracies thrive,” he said.
Ahead of the India Ideas Summit in New Delhi on September 6 and 7, Keshap, who is headed to India along with top board members of the USIBC and leadership of the US Chambers of Commerce, said that he sees a very bright future for the US-India ties.

“Our engineers work together across time zones, they overcome geography to design the products and the services and the instruments that humanity is going to use to live a better and happier and healthier and more fulfilling life. So what’s happening in American and Indian companies are increasingly part of a shared high trust ecosystem,” he said.

It is important that America and India work well together to not only capture the full potential of India’s rise but to show the value of democracy to the entire world, he said.
“So building that high trust ecosystem is really important,” he said.

“Business community wants to show its support for that vision, and wants to show its support for the idea of India as a developed country in 2047, as the Prime Minister (Narendra Modi) said, in the Independence Day speech the other day at Red Force,” he said.

India is already becoming a services superpower. There’s a huge digital economy trade between the United States and India. It’s over USD 100 billion a year but total trade between America and India is only about USD 150 billion a year, Keshap said.

“I have said repeatedly in public that we ought to hit USD 500 billion a year, India ought to be one of America’s top trading partners and we ought to be India’s top trading partner,” he said.

“How do we go about doing that?” he asked.
“Number one, we set really good standards, high-quality standards for the digital economy, which is going to grow and grow and grow. Number two, we work on things like life sciences and the well-being of an ageing world and also a young world,” Keshap said.

“India is frankly going to have both having that life sciences component where our companies working together in collaboration for research and innovation is going to be really vital,” he said.

Manufacturing, supply chain, and e-commerce are the areas where India is already growing and becoming very strong, Keshap said.

“Given geostrategic necessities and concerns, I think India has a huge opportunity if it plays its cards right to attract a lot of manufacturing,” he said.

“This is why I’ve talked about the ease of doing business, level playing field, very clear regulatory structures, tax regimes, etc, and speedy arbitration of any disputes that may come up,” he said.

“If India can work to create that software of investment, I think you’ll see a lot of investments flow into India. It will create a lot of high-quality jobs, benefit the entire world and help India achieve its goals. It is a very ambitious goal,” Keshap said.

India, he said, could be a real agricultural superpower if it works on instituting the right conditions for its producers and farmers.

“As we look at the USD 500 billion target, services are going to play a really important role. Manufacturing, supply chain, e-commerce is gonna have to play a big role in pharma and life sciences, defence and aerospace,” he said.

“From my perspective, as the president of a trade association, hundreds of executives across our 200 member companies see the potential value of India,” Keshap said.
“This is where I think, India has a shining moment to take advantage of global trends in the most beneficial way and what we’re offering is constructive feedback about the regulations and the ways that India can posture and position itself to capture the maximum advantage,” Keshap said.

Keeping this in mind, the focus for this year’s India Ideas Summit is on “Maximising the Next 75 Years of US–India Prosperity” – reflecting the milestone of 75 years of diplomatic relations between the US and India and the continued growth of bilateral partnership for global good.

During the two-day conference, the participants will discuss the US-India partnership in the context of the Indo-Pacific and an increasingly dynamic and competitive strategic landscape.

Ingredients imported from the United States inspire Indian chefs to create new variations of traditional dishes, says Michael Gallant. Rice, coffee, pumpkin, mango—the crops India grows are rich and varied. But even the most agriculturally productive countries can benefit from international exchange, and the top-quality ingredients that global cooperation makes available. Just ask India’s chefs.

From crisp American cranberries to richly textured California walnuts, ingredients from the United States have influenced how culinary leaders in India practice their craft. In many situations, Indian chefs incorporate ingredients imported from the United States into traditional Indian dishes, creating new variations of classic themes.

Anoothi Vishal is an author, food historian and columnist who specializes in the culinary ties between communities within India and around the world. “Indian gastronomy has historically been characterized by inventiveness using diverse ingredients, many that came via trade from other regions and cultures,” she says, “and which became deeply entrenched within the country’s strong and deep-rooted culinary cultures.”

American ingredients, Indian style
Vishal has been using imported cranberries from the United States as a key ingredient in her work. She researches the culinary history of regions around India and uses her knowledge to curate food menus that are both traditional and innovative. Her work includes “exploring how traditional dishes can incorporate the relatively new ingredient of American cranberries, while still retaining taste and nuances that make [the dishes] popular in Indian gastronomy,” she describes.

Beloved street food dishes and traditional family recipes from Old Delhi, central India and south India, including ones passed down from Vishal’s own ancestors, have all been reinvented with the cranberry in mind. In late 2021, she curated two chaat festivals at Leela Hotels and Punjab Grill outlets across India, where traditional chaats (a family of savory snacks) were reimagined to include American cranberries.

Popular American food exports to India include a wide variety of fresh fruits, tree nuts and a variety of prepared foods. “What I love most about American ingredients is the quality of produce, which is amazing,” says Rakhee Vaswani, a celebrity chef, entrepreneur, author and culinary educator in Mumbai. “I’ve worked with Oregon hazelnuts, California prunes, pistachios, California walnuts, Washington apples and poultry, duck and turkey,” she says. “I’ve really appreciated how aware American food providers are when it comes to the source of ingredients, how they’re handled, and even the facilities where they’re processed. From their origin, American ingredients are produced with top-notch quality.”

Many U.S. ingredients are available to Indians via shops and grocery stores, says Vishal. Vaswani regularly sources ingredients from American food suppliers with whom she has forged professional connections. But special efforts are also being made to introduce further cultural and culinary exchange between the two countries.

Last year, Vaswani joined U.S. Consul General David J. Ranz to conduct a “Taste of America” masterclass hosted by the U.S. Department of Agriculture – Foreign Agricultural Service in Mumbai that focused on the fusion of American ingredients and Indian culinary traditions. The event was held at Vaswani’s Palate Culinary Studio and Academy in Mumbai, and was conducted in front of a live audience. “One dish we prepared together was a new variation of chaat, where we used American cranberries and blueberries to replace dates and tamarind, which are the more traditional ingredients,” she says. “It was a super hit, and looked beautiful. Plus, the dish was full of healthy antioxidants.”

The masterclass fit in with Vaswani’s approach as a teacher and culinary innovator. She runs a culinary school, and the students go into the food industry in India as well as internationally. “Whenever we teach a recipe, we want students to be able to use fresh ingredients and adapt their cooking to wherever they are,” she says. “It’s also my job as a teacher to bind the ties between countries. I would not want to teach recipes that necessarily use American ingredients in the ways they’re ‘supposed’ to be used in the West.”

Vaswani hopes that the food trade between the United States and India continues and grows. “I want the business ties to be stronger between the countries,” she says. “As a chef, experiencing different sorts of produce shows your creativity. There’s a great chain of distributors and suppliers in the United States, each more eager than the other to make sure their ingredients are available in the best form, and I hope that Indian chefs like me can take more and more advantage of that.”

When international food trade flourishes, high-quality ingredients and new inspiration can benefit all involved. “As a food historian, I can say, many U.S. ingredients can successfully be combined with local regional Indian flavors and techniques to present inventive dishes with mass appeal,” says Vishal. “Trade is bilateral. If Indian products and dishes can be popular in multicultural societies like the United States, the reverse is true too.”

After the Reserve Bank of India (RBI) lifted curbs on American Express Banking Corp, enabling it to onboard new domestic customers, the financial services company on Wednesday said the move of India’s central bank is the result of the company’s significant local investments in technology, infrastructure and resources.
American Express welcomed RBI’s decision to lift the restrictions over it.

“We welcome today’s decision by the Reserve Bank of India, which enables American Express Network to onboard new customers effective immediately. India is a key strategic market for American Express, and today’s decision is the result of our significant local investments in technology, infrastructure, and resources,” said Sanjay Khanna, Interim CEO and COO, American Express Banking Corp, India.

“American Express’ ability to deliver best-in-class value and customer experiences will enable us to meet the increasing demand for premium products and services and grow our business in India,” he added.

On Wednesday, the Reserve Bank of India (RBI) lifted American Express Banking Corp restrictions. With the lifting of the ban, American Express will now be able to add new customers in India to its card network.

“In view of the satisfactory compliance demonstrated by American Express Banking Corp with the Reserve Bank of India (RBI) circular dated April 6, 2018, on storage of Payment System Data, the restrictions imposed, vide order dated April 23, 2021, on the onboarding of new domestic customers have been lifted with immediate effect,” said the RBI statement.

By its order dated April 23, 2021, RBI had imposed restrictions on American Express Banking Corp from onboarding new domestic customers onto its card network from May 1, 2021, for non-compliance with the RBI circular on Storage of Payment System Data.

Similar restrictions were earlier imposed on Mastercard and Diners Club International. The restriction on Diners Club was removed in November last year, while the ban on Mastercard was lifted last month.

Per the RBI norms, financial services companies like Visa, Mastercard, American Express and Diners Club have been required to store Indian payment data locally since October 2018.

US President Joe Biden has appointed more than 130 Indian-Americans to key positions in his administration so far, the best representation from the community that makes up around one per cent of the American population.

In doing so he has not only fulfilled his promise to the community that he had made as a presidential candidate in 2020, but also shattered the record of his predecessor Donald Trump who had appointed more than 80 Indian-Americans and his previous boss Barack Obama, who had appointed over 60 Indian-Americans to key positions during his eight years of presidency.

More than 40 Indian-Americans has been elected at various state and federal levels including four in the US House of Representatives. Not to miss the more than 20 Indian-Americans leading top US companies.

While the first-ever presidential appointment was done during the time of Ronald Regan, this time Biden has appointed Indian-Americans to almost all departments and agencies of his administration.

“Indian-Americans have been imbued with the sense of seva (service) and this is reflected in their enthusiasm to pursue positions in public service instead of the private sector,” Silicon Valley-based entrepreneur, philanthropist and venture capitalist M R Rangaswami told PTI.

“The Biden administration has now appointed or nominated the largest group to date and needless to say we are proud of our people and their accomplishments for the United States,” Rangaswami said. Rangaswami is founder and head of Indiaspora, a US-based global organization for Indian-origin leaders. Indiaspora keeps a track of Indian-origin leaders.

Biden, who has maintained a close relationship with the community since his Senator days, often jokes around about his Indian relationship. He made history in 2020 by selecting Indian-origin Kamala Harris as his running mate.

The list of Indian-Americans in the White House as compiled by Indiaspora reflects that there would be only a few meetings inside the White House or in Biden’s Oval Office that would not have an Indian-American presence.

His speech writer is Vinay Reddy, while his main advisor on COVID-19 is Dr Ashish Jha, his advisor on climate policy is Sonia Aggarwal, special assistant on criminal justice is Chiraag Bains, Kiran Ahuja heads the Office of Personnel Management, Neera Tanden is his senior advisor, and Rahul Gupta is his drug czar.

Last week when India’s Ambassador to the US, Taranjit Singh Sandhu, hosted a reception at India House on the occasion of Independence Day, Indian-Americans from his administration were representing almost all major branches of the US government.

Young Vedant Patel is now the Deputy Spokesperson at the Department of State, while Garima Verma is the Digital Director in the Office of the First Lady. Biden has also nominated several Indian-Americans to key ambassadorial positions.

According to the list prepared by Indiaspora, more than 40 Indian-Americans have been elected to various offices across the country. Four are in the House of Representatives — Dr Ami Bera, Ro Khanna, Raja Krishnamoorthi and Pramila Jayapal. This includes four Mayors.

Led by Indian-Americans Sunder Pichai of Google and Satya Nadella of Microsoft, there are over two dozen Indian-Americans heading US companies. Among others include Shantanu Narayen of Adobe, Vivek Lall of General Atomics, Punit Renjen of Deloitte, Raj Subramaniam of FedEx.