J P Chawla & Co. LLP

Fineprint Vol.9 2020

In September 2020, significant economic and trade developments unfolded. India and Denmark inked a Memorandum of Understanding (MoU) to bolster cooperation in intellectual property rights. IMF lauded India’s Aatmanirbhar Bharat initiative, emphasizing its role in stabilizing the economy post-COVID. Online grocery is poised to burgeon into an $18 billion industry in India by 2024. The country witnessed a 3.4% surge in internet users, reaching 743 million by March-end, with Reliance Jio leading the market share. Gujarat emerged as the top performer in DPIIT’s Startup Ecosystem ranking. The Indian government infused Rs 20,000 crore in state-run banks, while approving a $100 billion plan for exporting locally manufactured mobile phones. Despite economic contractions, Indian companies raised a record $31 billion in equity capital. Additionally, India and Japan sealed an agreement on reciprocal provision of supplies and services, enhancing bilateral defense cooperation.


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