India Business Newsletter
March 16 - March 31, 2021
Greetings from Consulate General of India,
New York!
Welcome to the March 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)
India set for Quad -Plus navy drill as US defence Secretary begins Asia tour

India is now steadily cranking up its naval exercises with the Quad countries and other key strategic allies, even as US secretary of defense Lloyd Austin on Saturday began his first tour to Asia to bolster military cooperation and ensure credible deterrence against China.

Maritime security, defence deals and regional issues to be discussed with the US

Stage is set to welcome the new US Secretary of Defense Lloyd Austin later this week, who will on his maiden two day visit to India from March 19-20. He is going to have a meeting with his counterpart Indian Defense minister Rajnath Singh, other top officers in the Ministry of Defense and he is expected to call Prime Minister Narendra Modi too.

India, U.S. begin two-day naval exercise in eastern Indian Ocean region

India and the U.S. on March 28 kicked off a two-day naval exercise in the eastern Indian Ocean region, reflecting the growing congruence in their defence and military partnership.

USAID, DFC announce $41 million financing for renewable energy in India

The United States Agency for International Development (USAID) and the US International Development Finance Corporation (DFC) have announced a USD 41 million-loan guarantee program to finance investment in renewable energy solutions by Indian SMEs.

India to be part of Cisco’s $5 bn funding for 5G projects

US-based Cisco Systems, Inc., which has set aside $5 billion to fund projects for 5G services globally, will invest part of it in India to help telecom operators build crucial components of wireless networks comprising core, transport, mobility, and security solutions.

India to Cut Saudi Arabian Oil Imports and Buy More From U.S.

Indian refiners plan to buy less oil from the Middle East in the coming months as OPEC+’s supply restrictions makes U.S. crude more attractive.

SII, Bharat Bio seek central fund injection to ramp up vaccine production

As demand for Covid vaccines grows here and abroad, the two main vaccine manufacturers — the Serum Institute of India (SII) and Bharat Biotech — are learnt to have sought financial aid from the government to help them ramp up capacities rapidly. The SII has been selling Covishield to the government at a cost price of $2-2.5 per dose.

India's Stelis Biopharma to make 200 mn doses of Sputnik V vaccine

Indian drugmaker Strides Pharma Science said on Friday its unit Stelis Biopharma has partnered with Russia's sovereign fund to make at least 200 million doses of the Sputnik V Covid-19 vaccine, bringing India's total production of the shot to over half a billion doses.

Petroleum Secretary clears air on GAIL disinvestment, lays out blueprint to push Atmanirbhar in oil

The government's original target was to go to E20 by 2030. This target was recently revised by the PM, and we will now introduce E20 by 2024 and by 2025 it should be available across the country.

John Kerry to visit India in April ahead of Biden’s climate summit

U.S. President Joe Biden will host a virtual ‘Leaders Summit on Climate’ on April 22 and 23, with 40 world leaders, including Prime Minister Narendra Modi. In the run up to this, U.S. Special Envoy for Climate John Kerry will visit India in early April in the run up to this meeting.

Consul General of India, New York addressed the webinar on Access Opportunities- US India Partners for Growth along with representatives of the US Dept. of Commerce, US SBA & NJEDA on March 24, 2021
The webinar was regarding Economic Partnership of India- US relationship. Consul General was accompanied by Consul (Trade) during the meeting.
Handloom Export Promotion Council, HEPC thanks
Mr. Randhir Jaiswal - Consul General of India in New York, for inaugurating the Virtual Indian Handwoven and Home textiles Sourcing Fair held with a focus on USA & Canada markets on March 23, 2021
This virtual event was having a participation of around 23 exhibitors from different parts of India with a wide range of products under home textiles and clothing accessories product categories.
Consul General of India, New York delivered the Guest Address at the India-Americas Day on 17th March 2021 in the session on “Doing Business with USA” of “PHDCCI International Week”
During “PHDCCI International Week” from 15-19 March, 2021 was filled with gamut of activities consisting of interactive sessions, B2B and B2G meetings, etc. The International Week was held in Hybrid mode.
Address: Consulate General of India,
3 East 64th street (Between 5th and Madison Avenues),
New York, NY 10065