India Business Newsletter
January 16 - January 31, 2021
Greetings from Consulate General of India,
New York!
Welcome to the January 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)
IMF projects 11.5% GDP growth,
experts say India to achieve $5 trillion economy

With International Monetary Fund (IMF) projecting that India will reclaim the status of the world's fastest-growing economy and projected its growth at 11.5 percent in 2021, experts on Wednesday said that India is rebounding to achieve the target of a $5 trillion economy.

Biden supports ‘successful’ ties between
US, India leaders, says White House
As the new administration settles in, policymakers and experts in both the US and India are eager to know Washington's policy and approach on India. President Joe Biden “respects and values” the “long, bipartisan, successful” relationship between leaders of the United States and India and looks forward to continuing it, the White House spokesperson said Thursday.

Budget positions India towards its target of
$5 trillion economy: USISPF

Applauding the annual budgetary presentation by Finance Minister Nirmala Sitharaman, the US-India Strategic and Partnership Forum (USISPF) described it on Monday as bold and visionary, which would launch India's economy into a growth trajectory. The budget positions India towards its target of a USD 5 trillion economy," USISPF president Mukesh Aghi said.

Budget 2021: $225 million for digital payments industry to offset MDR losses

India’s burgeoning digital payments burgeoning industry received a budget boost from Finance Minister Nirmala Sitharaman by way of a $225 million fund earmarked for the growth of the sector and to “incentivise” businesses deploying solutions.

India must remain an integral part of the global
economy: Niti Aayog CEO Amitabh Kant

If India has to grow at 9-10 percent over a three-decade period, it must be open, it must be an integral part of the global economy. India must remain an integral part of the global economy if it has to grow at 9-10 percent over the next three decades, Niti Aayog CEO Amitabh Kant said on Tuesday.

FDI in India rose by 13% in 2020 as inflows declined in major economies: UN

Foreign Direct Investment into India rose by 13 percent in 2020, boosted by interest in the digital sector, and while fund flows "declined most strongly" in major economies such as the UK, the US and Russia due to the COVID-19 pandemic, India and China bucked the trend, the UN has said.

India's foreign direct investment inflows grew by 81 percent in November 2020 to $10 billion

India's Foreign Direct Investment (FDI) saw a significant jump in November 2020. FDI data released by the Commerce Ministry shows that total FDI in the month of November 2020 grew by a whopping 81 % to $ 10.15 billion against $ 5.6 billion in November 2019. FDI equity has also jumped to $ 8.5 billion as against $ 2.8 billion in November 2019, registering a growth of 70 %.

Indian Seafood Promotion Event at
Consulate General of India, New York

The Consulate General of India Organized a virtual Indian Seafood Promotion Event in Partnership with The Marine Products Export Development Authority (MPEDA) and US-India Strategic Partnership Forum (USISPF) on January 19, 2021. The event attracted key stakeholders from the American Food sector including Michelin Starred Chefs.

Consul General of India, New York had a virtual interaction with Mr. Ed DiSanto, Executive Vice President of American Tower Corporation (ATC) on 28th January 2021

ATC is a Boston, Massachusetts based owner and operator of wireless and broadcast communications infrastructure in several countries worldwide. They discussed expanding opportunities for the company in the digital sector in India. Consul  General was accompanied by Consul (Trade) during the meeting.

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