How much money can be transferred from India (from friend) to USA citizen | Any regulations?

There is nothing to do for you.

In the US, the gift giver has tax responsibility, and you said he is not in the US (and I assume not a US citizen).

However, the bank will report this to the IRS, and if they decide to investigate, you need to be able to prove the money was not illegally acquired. Chances are small - this amount is peanuts for them - but it could happen.