India Business Newsletter
December 01 - December 15, 2020
Greetings from Consulate General of India,
New York!
Welcome to the December 2020, 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)
Safe investment destination: FDI equity inflows in India cross $500 billion

Foreign direct investment (FDI) equity inflows into India crossed the USD 500 billion milestone during April 2000 to September 2020 period, firmly establishing the country's credentials as a safe and key investment destination in the world.
India’s weapons procurement from the US jumps to USD 3.4 billion in 2020

India’s weapons procurement from the United States jumped from a meagre USD 6.2 million to a whopping USD 3.4 billion in the final year of the Donald Trump’s administration, according to official data. As per the data released by the Defense Security Cooperation Agency (DSCA), the jump in the sale of American weapons to India comes at a time when sale of weapons from the US to other countries has dipped to USD 50.8 billion in 2020 from USD 55.7 billion in 2019.
Modi govt approves approx 3 billion USD for 3rd phase of Atmanirbhar Bharat job scheme

In a major employment push in the formal sector at a time when unemployment is emerging as a serious concern due to a sharply contracting economy, the Union cabinet Wednesday approved approx 3 Billion USD for the third phase of Atmanirbhar Bharat Rozgar Yojana.
Indian economy to see positive growth in fourth quarter of current fiscal: Niti Aayog VC

The Indian economy is coming out of the pandemic-induced degrowth and GDP growth will enter the positive territory in the fourth quarter of this fiscal, Niti Aayog Vice Chairman Rajiv Kumar said on Wednesday. In an interview to PTI, Kumar also said the Centre's new agriculture reform laws are aimed at increasing the income of farmers and the present agitation was a result of misunderstanding and miscommunication which need to be removed.
India to see $66 billion investment in gas infrastructure

India will see a massive USD 66 billion investment in the building of gas infrastructure as the government pushes for greater use of the cleaner fuel with a view to cutting down carbon emissions, Oil Minister Dharmendra Pradhan said on Wednesday. The government is targeting raising the share of natural gas in its energy basket to 15 percent by 2030 from the current 6.3 percent.
US Approves Sale of USD 90 Million Worth Military Equipment, Services to India

The United States on Friday approved sale of USD 90 million worth of military hardware and services to India in support of its fleet of C-130J Super Hercules military transport aircraft. The Defence Security Cooperation Agency (DSCA) of the Department of Defence said the proposed sale will support the foreign policy and national security of the US by helping to strengthen the US-Indian strategic relationship and improve the security of a “major defence partner”.
Internal Stakeholder meeting at
Consulate General of India, New York

Consul General attended an internal stakeholder meeting led by Additional Secretary, Sumita Dawra, Department For Promotion of Industry and Internal Trade for synergising and promoting investments into India.
A Roundtable on ‘Sustainable Water Infrastructure & Water Access in India’ at Consulate General of India, New York
A Roundtable on ‘Sustainable Water Infrastructure & Water Access in India’ was organised and US companies in the water sector were apprised of the opportunities in India.
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