India Business Newsletter
October 01 - October 31, 2021
Greetings from Consulate General of India,
New York!
Welcome to the October 2021 edition of our newsletter, bringing you important policy and high-impact news.
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, US discuss COP26, expanding global access to Covid-19 vaccines

Indian External Affairs Minister Dr. S Jaishankar and his US counterpart Antony Blinken discussed a “gamut of issues” at a meeting on the sidelines of the G20 summit in Rome. “Discussed a wide gamut of issues relating to our partnership. Updated each other on important regional concerns,” Jaishankar wrote in a tweet. Ned Price, the US state department spokesperson, said in readout issues discussed by the two included “efforts to strengthen Indo-Pacific cooperation through the Quad and expand cooperation on common regional priorities”.
Hon’ble Finance Minister Smt. Nirmala Sitharaman had one-on-one interaction with the top CEOs of Advent International, Bain Capital, State Street and Thermo Fisher Scientific in Boston organised by US- India Strategic Partnership Forum USISPF and Federation of Indian Chambers of Commerce and Industry (FICCI) in partnership with Consulate General of India, New York on October 11, 2021

G20 agrees on keeping global warming to
1.5 degrees Celsius above pre-industrial levels: Report
G20 countries have agreed on the need to keep global warming to 1.5 degrees Celsius above pre-industrial levels, in language tougher than the 2015 Paris accords, several sources said Sunday, 31st October, 2021. Three sources told AFP that diplomats had approved language for a final summit communique going beyond what was agreed six years ago, when the landmark climate deal called for capping global warming at well below 2 degrees, and ideally closer to 1.5 degrees. 
Finance Minister also addressed business leaders and investors at a Roundtable in Boston organized by the Consulate General of India, New York
in partnership with USISPF and FICCI
on October 12, 2021
Hon’ble Finance Minister Smt. Nirmala Sitharaman addressed global business leaders and investors at a Roundtable in New York. The event was organized by the Consulate General of India, New York, USISPF and FICCI on October 16, 2021
CEOs of IBM, Citigroup, Mastercard, FedEx, EMCC, Legatum Capital and other prominent companies participated during the Roundtable.
Union Finance Minister met Mr. Ajay Banga, Executive Chairman and Mr. Michael Miebach, CEO, Mastercard. The initiatives and progress towards financial inclusion and digital transformation formed was part of discussion. Union Finance Minister also met Mr. Raj Subramanyam, CEO, FedEX. The recently launched initiative of National Infrastructure Master Plan, Gati Shakti and India having 3rd largest start-up ecosystem and unicorn base formed was part of discussion.
Union Finance Minister conveyed that, startups in India have grown tremendously and many are now raising money through capital markets. This year itself, more than 16 of them will qualify as unicorns.
Hon’ble Finance Minister addressed Entrepreneurs Roundtable in New Jersey on October 17, 2021
During the Roundtable, unique entrepreneurial journeys and success stories of the New Jersey-based Indian diaspora were shared. Around 45 entrepreneurs, mostly women participated.
US firm First Solar announces $684mn India investment

US company First Solar has formally announced an investment of $684 million in Tamil Nadu for a solar photovoltaic (PV) thin film module manufacturing facility that will support 1,000 jobs, with 60% of them women. The announcement came at the fourth annual meeting of the Indo-Pacific Business Forum (IPBF), a US initiative which was co-hosted for the first time in South Asia. Held virtually this time, the forum advances US vision for an open, interconnected, resilient, and secure Indo-Pacific region.
Facebook rebrands to Meta
Facebook Inc co-founder and chief executive officer Mark Zuckerberg has said his company will henceforth be known as Meta Platforms Inc, or Meta for short, to reflect its commitment to developing the immersive digital world known as the metaverse. Zuckerberg, speaking at the company's live-streamed virtual and augmented reality conference, said the new name reflected its work investing in the metaverse, rather than its namesake social media service. "We've learned a lot from struggling with social issues and living under closed platforms, and now it is time to take everything that we've learned and help build the next chapter," Zuckerberg said.
Pfizer says Covid-19 vaccine more than 90% effective in 5- to 11-year-old kids

Kid-size doses of Pfizer’s Covid-19 vaccine appear safe and nearly 91% effective at preventing symptomatic infections in 5- to 11-year-olds, according to study details released Friday as the U.S. considers opening vaccinations to that age group. The shots could begin early next month — with the first children in line fully protected by Christmas — if regulators give the go-ahead. Details of Pfizer's study were posted online Friday, October 22, 2021. Advisers to the Food and Drug Administration will publicly debate the evidence next week.
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3 East 64th street (Between 5th and Madison Avenues),
New York, NY 10065