J P Chawla & Co. LLP

Fineprint Vol.3 2022

Indian economy is facing inflationary pressures with costs increasing for various industrial inputs, with FMCG’s adopting shrinkflation techniques to keep the price stable for their products. On analyzing the overall Indian economic scenario this seems to be a temporary phenomenon, with macro position of India being very robust, hiring continuing and companies declaring robust profits. 

To make manufacturing and service MSMEs globally competitive, the Ministry of Micro, Small, and Medium Enterprises (MSME) launched a new Zero Defect Zero Effect (ZED) Certification Scheme. 

Further, India and the United Kingdom have signed a fresh defence and trade agreement. 

Due to the acceleration of digital transformation by the companies, there is a huge growth in the Indian IT services market. 

The government has approved 61 enterprises for the textiles PLI scheme, with a target investment of Rs 19,077 crore. 

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