DECEMBER 2020 | ISSUE 1 FICCI THIS WEEK COVID-19 UPDATE INSIDE Indian economy likely to return to pre-COVID level by end of current fiscal year • P2 Trying to create the first genuine single window in terms of compliances and ease of approval process • Recovery faster than expected; P2 economic indicators encouraging; Glimpses of the week • P3 govt has road map for recovery Addressing the inaugural session of FICCI's 93rd Annual Upcoming Events • P4 Convention, Prime Minister Mr Narendra Modi said that India has been through ups and downs this year and it is good that Government Updates • P4 things are improving swiftly. He mentioned that while there are many challenges at hand, the government has the solutions and a roadmap to take India forward and overcome these challenges. He lauded FICCI for partnering with the #MUSTWATCH government and playing an effective role in the process of nation building including in the fight against COVID-19. Alongside the FICCI Annual Convention, the FICCI Annual Expo 2020 was also inaugurated by the Prime Minister. MR UDAY SHANKAR TAKES OVER AS PRESIDENT OF FICCI page 1 FICCI THIS WEEK Indian economy likely to return to pre-COVID level by end of current fiscal year Addressing the virtual Valedictory Session of FICCI's 93rd Annual Convention, Mr Rajnath Singh, Minister for Defence, Govt of India asserted that the Indian economy is likely to return to pre-COVID-19 levels by the end of the current fiscal year which is much earlier than expected. "It is the strength of our economy that India during April-August 2020 received the highest ever FDI," he added. Mr Singh said that our focus on infrastructure building has not diminished and we see that it is a great multiplier in terms of employment. Trying to create the first genuine single window in terms of compliances and ease of approval process Addressing the session, The Building Blocks of the New India, during FICCI's 93rd Annual General Meeting, Mr Piyush Goyal, Minister for Commerce & Industry & Railways today said that the government is working on the 3-I principles for nation- building; Inspire, Initiate and Innovate. FICCI realizes that promoting start-ups and innovation is a critical building block for the new, inspired India. The 'FICCI Start-ups Meet Industry Series' was launched in the presence of the minister. page 2 FICCI THIS WEEK GLIMPSES OF THE WEEK Aspiring Odisha for Inspired India Atmanirbhar Bharat – Manufacturing Economic Diplomacy & Atmanirbhar Leveraging ICT for Economic Revival in Bharat Post COVID-19 Era Quest for Sufficiency & Sustainability Inspired India: Session with Deputy of Indian Power Sector Leader of Opposition in Rajya Sabha page 3 FICCI THIS WEEK UPCOMING EVENTS MUST READS FICCI New Leadership - Uday Shankar takes over as FICCI President; Sanjiv Mehta elevated as Senior Vice President & Subhrakant Panda joins FICCI leadership as Vice President Technology is the key to exploring new frontiers of economic recovery and resilience: Satya Nadella, CEO Microsoft The 2020s belong to India: N Chandrasekaran, Chairman, Tata Group World's biggest problem is the world's biggest business opportunity: Dr Peter H. Diamandis Need to constitute empowered group of domain experts for further rationalization of Centrally Sponsored Schemes: NK Singh, Chairman, Finance Commission GOVERNMENT UPDATES Updates on COVID-19 Cabinet approves Auction of spectrum Cabinet approves MoU between India and USA for exchange of information in areas of mutual interest in the electricity sector FOLLOW US page 4 FICCI THIS WEEK.