India Business Newsletter

April 01 - April 30, 2022

Greetings from Consulate General of India,

New York!

Welcome to the April 2022 edition of our newsletter, bringing you important policy and high-impact news.

We hope you find it useful.

Visit of Hon’ble Minister of Civil Aviation’s to New York, 28^th April- 2^nd May 2022

Hon’ble Minister had meeting with Mr. Kyle Clarke, CEO, Beta Technologies EVA Manufacturers; Mr. Brandon Keene, Chief Innovation Officer BLADE on E-VTOL (Electric VTOL) Landscape in the US and Mr. Will Heyburn, CFO & head of Corporate Development on Unit economics of E-VTOL on 28 April 2022 to discuss potential for electric mobility and battery ecosystem in India. In the evening Hon’ble Minister interacted with around 80 young entrepreneur and Community leaders on economic and developments in India in the civil aviation sector. Hon’ble Minister also participated in a business roundtable with senior executives from the field of aviation, defense industries, IT etc on 29 April 2022. Hon’ble Minister visited and interacted with the staff at the Air Route Traffic Control Centre Macarthur airport in Long Island, New York to understand firsthand their operations. Hon’ble Minister also held one on one meetings on 29 April 2022 with leading companies in the aviation and defense sectors.

Sikkim is the first state in India that is 100% organic. A delegation from Sikkim led by Shri Lok Nath Sharma, Hon’ble Minister of Agriculture, Horticulture, Animal Husbandry & Veterinary Service, Information, Public Relations and Printing, along with Dr S. Anbalagan, CEO Sikkim Organic Farming Development Agency (SOFDA), Shri Sudhir Giri, CEO, SSOCA and Ms. Binita Chettri, Quality Manager, SSOCA visited New York from 23-25 April. The objective of the visit was to reach out to potential investors and importers in the United States, the largest export destination of Indian merchandise, and harness Sikkim’s status as a hundred percent organic state. Of particular focus were products such as large cardamom, of which Sikkim is the largest producer in India, turmeric, ginger, Sikkim mandarin and Sikkim tea.  

India may launch e-currency in 2023, says FM



Hon’ble Finance minister Smt. Nirmala Sitharaman has said that India is looking to launch the proposed central bank digital currency (CBDC) in 2023 with the government and the RBI planning to use it beyond financial inclusion. "The government and the RBI are looking into its several commercial use purposes and not just financial inclusion, which is largely achieved through the JAM trinity," the minister said at an event organised by FICCI and USISPF in California.

India has potential to achieve $1 trillion services & merchandise exports by 2030: Piyush Goyal

Hon’ble Commerce and Industry Minister Piyush Goyal on Wednesday, April 20, 2022 said that India has the potential to achieve $1 trillion services and merchandise exports each by 2030. 

Exports rise 37% to US$18.8 billion during April 1-14

India's exports increased by 37.01 per cent to USD 18.79 billion during April 1-14 on the back of healthy growth in sectors like petroleum, gems and jewellery, according to a preliminary data of the commerce ministry. Exports during April 1-14, 2021, stood at USD 13.72 billion.

India, US to restart commercial dialogue, CEO forum later this year: Blinken

The startup ecosystem has created as many as 14 unicorns in the first three months of 2022, and for the third consecutive quarter, they have received over $10 billion across 334 funding deals, says an industry report.

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