Welcome to the August 2021 edition of our newsletter, bringing you important policy and high-impact news about India.
We hope you find it useful.
A Forum for Indian Businesses in North East USA
(Covering: Connecticut, Maine, Massachusetts, New Hampshire,
New Jersey, New York, Ohio, Pennsylvania, Rhode Island and Vermont)
ReNew Power completes merger with
US-based RMG II
ReNew Power Pvt Ltd (ReNew Power) on Tuesday August 24, 2021 said it has completed "business combination" with US-based RMG Acquisition Corporation II (RMG II). ReNew Power in February had announced merger with blank-check company RMG II, giving India's biggest renewable power producer an enterprise value of USD 8 billion and listing on NASDAQ.
The U.S. Centers for Disease Control and Prevention (CDC) and U.S. State Department warned on Monday against travel to Turkey because of a rising number of COVID-19 cases in that nation but eased its advisories for India.
Indian auto parts makers' shares gain on report of talks with Tesla
Shares of Indian auto parts suppliers rose as much as 14% on Monday August 30, 2021 following a report electric-vehicle maker Tesla Inc (TSLA.O)was in talks with at least three companies to source critical parts for its planned entry into the country. Tesla, which is looking to set up a factory in India if it is successful with imported vehicles, is holding early talks with some companies for the supply of components such as instrument panels, windshields, differential gears, brakes and power seats, the Economic Times reported on Sunday August 29, 2021.
India's Bharat Petroleum scoops up U.S. oil as demand rebounds
India's state-run Bharat Petroleum Corp Ltd (BPCL.NS) is scooping up rising volumes of U.S. crude, people familiar with the matter said, as fuel demand in the Asian country recovers and weak U.S. crude prices make purchases attractive.
India's Bharat Biotech scouts international COVID-19 vaccine partners
Indian vaccine maker Bharat Biotech is seeking international manufacturing partners as it targets a billion doses of its COVID-19 vaccine each year, the company said on Sunday August 29, 2021.
