Spotlight June - 2022
Initiatives under Atma Nirbhar Bharat including introduction of structural and procedural reforms, record vaccinations, various PLI scheme designed to attract investments in sectors of core competency and cutting edge technology, Make-in-India programme to boost domestic manufacturing capacity reduction of corporate tax rate, and more and steps to improve operational efficiency have helped the industrial sector to keep up its ante. The sector has started to recover steadily and according to the National Statistical Office, is expected to grow at 11.8 percent in 2021-22. The performance of the Index of Industrial Production while a little subdued at 1.4 per cent in November 2021 vis a vis the same month in the previous year must be viewed along with growth of 17.4 percent in April-November 2021 as compared to -15.3percent in the corresponding period of last year. Most components of IIP have recovered to the pre-lockdown level.
The recovery of the industrial sector, positive business expectations propelled by extensive reforms and improved consumer demand, suggests that further improvements in the industrial performance can be expected. The credit worthiness of Indian companies as well as their profitability have improved sharply in the April-June quarter of 2021, indicating that the corporate sector could be heading for a sustainable revival over the rest of the year. In this issue of Siliconindia magazine, recognizing the impact created by the Corporate, Industrial, Business and Service sectors which comprises various fields, Siliconindia magazine presents the list of some 'Spotlight' worthy companies for the month of June-2022, which has strived to redefine the industry with effective solutions. The following list has undergone strict scrutiny by a panel of judges which includes CXOs, industry analysts, and Siliconindia magazine editorial team.