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PHDCCI SME Market Sentiment Index (Round 3) indicates Resilient Demand Amid Global Uncertainty; Budget FY2027 Expected to Lift SME Outlook

Newsmantra — Tue, 27 Jan 2026 11:57:39 +0000

The PHD Chamber of Commerce and Industry Round 3 findings of the SME Market Sentiment Index (SMESI), indicate sustained expansion in India’s SME manufacturing sector alongside a guardedly improving outlook for the coming quarter (Jan-March 2026), supported by expectations from the upcoming Union Budget FY2027, said Mr. Rajeev Juneja, President, PHDCCI, in a press statement issued here today.

The SME Business Activity Index (SME-BAI) rose to 58.9 during October–December 2025, up from 58.3 in the previous quarter, remaining well above the neutral threshold of 50, he said.

He added, the improvement reflects stronger new orders, stable production levels, improved employment conditions, easing supplier delivery timelines, and higher inventory restocking in anticipation of future demand. The rise in new orders are in line with a year-on-year increase in consumer durable output as per the Index of Industrial Production during the same period, strengthening signs of demand recovery.

The SME Business Outlook Index (SME-BOI) for January–March 2026 increased marginally to 60.8, suggesting cautious approach due to global uncertainty. Nearly half of respondents expect business activity to remain unchanged in the near term, however, the percentage anticipating improvement has increased compared to Round 2. Hiring intentions show gradual improvement, and a majority of respondents expect higher capital expenditure, indicating confidence in medium-term growth prospects, he said.

Union Budget FY2027: Expected Impact on SMEs

Expectations from the Union Budget FY2027 are a key factor supporting the positive outlook. Continued emphasis on public capital expenditure, is expected to support infrastructure-linked SME demand, particularly in agriculture and allied manufacturing sectors. Enhanced credit support measures, and reduced borrowing costs are likely to strengthen SMEs investment planning, with potential upside to the SME Business Outlook Index in subsequent quarters, he said.

Continued export support measures are expected to bolster new orders for manufacturing SMEs, while investments in digital infrastructure and supply-chain capabilities are anticipated to improve market access, productivity, and employment generation.

Dr. Ranjeet Mehta, CEO and Secretary General, PHDCCI, stated that the survey underscores the need for targeted incentives, enhanced R&D support, and robust development frameworks to accelerate technology adoption among SMEs. He further emphasized that timely enforcement of the 45-day payment norm for MSMEs, a review of quality control orders impacting machinery imports, rising energy costs, and the increasing impact of climate change on input prices necessitate the design and introduction of new financial hedging instruments.

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PHD Chamber of Commerce and Industry, Indian Air Force & Hero MotoCorp Successfully Conclude the Hero Tiranga Trails: Where Wheels Meet Wings

Newsmantra — Fri, 05 Dec 2025 13:13:50 +0000

The PHD Chamber of Commerce and Industry (PHDCCI), in association with the Indian Air Force and Hero MotoCorp, proudly announces the successful completion of the Hero Tiranga Trails: Where Wheels Meet Wings, held from 27^th November to 2^nd December 2025.

This remarkable 1,400 km expedition commenced from Hindon Air Force Station, traversed through Haldwani – Kasar Devi (Almora) – Dharchula, and culminated at the breathtaking Panchachuli Base Camp at an altitude of 13,000 ft, before returning to Hindon Air Force Station.

Over the course of six dynamic days, a distinguished contingent of 50 Hero motorcycles and more than 100 officers from the Indian Air Force, Indian Army, and Indian Navy undertook this extraordinary journey symbolising endurance, discipline, camaraderie, and national pride.

As part of the trail, the contingent engaged in meaningful interactions with, Ex-servicemen and veterans, NCC cadets, Students of Sainik Schools and Personnel at Air Force Station Bhowali

These engagements enriched the expedition by inspiring young minds, strengthening civil–military ties, and reinforcing the shared values of patriotism, service, and adventure.

Speaking at the valedictory event, Dr. Ranjeet Mehta, CEO & Secretary General, PHDCCI, expressed pride in associating with the Indian Air Force and Hero MotoCorp for this remarkable initiative. He reaffirmed PHDCCI’s commitment to continuing its partnership with the Air Force and other allied forces to organise such meaningful and impactful programs. He further added that expeditions like this will play a significant role in boosting adventure sports and strengthening adventure tourism in the state of Uttarakhand.

Group Captain J.S. Negi of the Indian Air Force shared that the ride not only offered an excellent platform for adventure sports but also provided meaningful opportunities to interact with students from Sainik Schools and meet veterans of the Armed Forces to thank them for their service. He added that through expeditions like this, they hope to inspire the youth of the nation to join the Armed Forces, which offer their personnel unique opportunities to engage in adventure activities as an integral part of their service.

Aashish Midha, Head of Marketing, Hero MotoCorp, said: As a proud Indian company, we are honoured to partner with the Indian Air Force and PHDCCI for the Hero Tiranga Trails: Where Wheels Meet Wings. This initiative goes beyond motorcycling and adventure — it’s a celebration of the spirit of unity, national pride, and responsible riding. Through this ride, we aim to promote safe motorcycling practices while showcasing India’s incredible potential for adventure tourism. The journey truly reflected the performance and capability of the XPulse 210, as well as the skill, endurance, and determination of the riders who conquered challenging terrains. Most importantly, it serves as an inspiration for the youth to explore, ride responsibly, and take pride in the nation’s spirit of adventure.

The Hero Tiranga Trails stands as a testament to flawless coordination, the unwavering courage of our Armed Forces, and the synergetic spirit of all stakeholders in promoting adventure, resilience, and national pride.

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Shri Debjyoti Das Highlights Charitable Tax Simplifications in New Income Tax Act, 2025 at PHDCCI Seminar

Newsmantra — Wed, 26 Nov 2025 06:26:24 +0000

New Delhi, November 25, 2025: The PHD Chamber of Commerce and Industry’s Direct Taxes Committee recently hosted a crucial interactive session on the taxation of charitable institutions and exempt entities, featuring Shri Debjyoti Das, Principal Chief Commissioner of Income Tax, as the Chief Guest. Shri Das delivered a comprehensive keynote address highlighting major reforms in the Indian income tax framework, specifically addressing longstanding challenges faced by charitable organizations under the current Income-tax Act, 1961, and the transformative promise of the upcoming Income-tax Act, 2025.

Shri Debjyoti Das, Principal Chief Commissioner of Income Tax, began by candidly acknowledging that the Income-tax Act, 1961, having evolved over more than six decades from its 1922 predecessor, had become increasingly complex and fragmented, particularly with regard to exemption provisions such as Section 12A. He pointed out that shifting provisos, scattered clauses, and repeated piecemeal amendments had created a web of procedural and interpretative difficulties, often leading to frustration for taxpayers, tax professionals, and officers alike. Notably, tax audit requirements were highlighted as a significant pain point due to their complexity, subjective certifications, and compliance costs.

The Principal Chief Commissioner of Income tax brought encouraging news about the enactment of the Income-tax Act, 2025, effective from April 1, 2026, which promises a simplified, cohesive, and user-friendly legal framework. He emphasized that the new Act consolidates and restructures provisions to improve logical flow and reduce the volume of sections and wording by nearly half, while retaining the substance and principles that ensure tax certainty. Shri Das affirmed that the simplification was a deliberate choice reflecting the government’s vision to move away from complicated colonial-era laws towards a modern, accessible statute that embodies clarity and ease of compliance. Further, Shri Das elaborated on the revamped registration and renewal regime for charitable trusts under Section 12A and Section 80G, transitioning from a once-and-for-all perpetual registration towards a system requiring registration every 5 or 10 years depending on the size of the entity. This change aims to improve oversight, update records, and prevent misuse while streamlining renewal processes with risk-based review focused on genuinely suspicious cases. He reassured attendees that efforts are underway to ease procedural hassles related to registration, and late filing of tax audit reports, reflecting the department’s commitment to balancing oversight with facilitation.

Mr. Mukul Bagla, Chair, Direct Taxes Committee, PHDCCI, provided an insightful overview of recent regulatory tightening affecting NGOs to enhance transparency and accountability. He highlighted digitization efforts such as mandatory filing of Form 10DD for donations under Section 80G and advocated technical improvements including auto-population of donor data in Form 26AS to ease return filing complications. Mr. Bagla remarked on the legislative reforms aligning corpus donations to normal donations under Section 11(5), curbing tax abuse potential. He also voiced stakeholders’ concerns about inconsistent timelines for filing Forms 10 and 9A, foreign travel expenditure exclusions under Section 11, and the expansive, resource-intensive scope of Forms 10B and 10BB certifications introduced recently- calling for practical adjustments to better match NGO realities and reduce litigation.

Ms. Pallavi Dinodia, Co-Chair, Direct Taxes Committee, PHDCCI, shared a personal reflection on her family’s historical contribution to India’s tax laws and the positive shift witnessed among charitable entities moving from a perpetual exemption mind set toward disciplined compliance and governance. She noted that these regulatory changes are fostering an ecosystem that supports India’s broad vision of development and formalization of the charitable sector.

Ms. Babeeta Sharma, Director of PHDCCI, celebrated the Chamber’s 120-year legacy as a steadfast promoter of Indian industry and trade. She lauded the chamber’s role in policy advocacy and fostering dialogue sectors such as the NGO and charitable sector. Ms. Sharma formally welcomed Shri Debjyoti Das, PCCIT underscoring his distinguished IRS career since 1990 with diverse national-level postings and reputed expertise, along with his broad intellectual and cultural interests, thereby setting the tone for an engaged and rounded discussion of exemption policies.

Accompanying Shri Das were senior Income Tax Department officials from the Exemptions division, including Mr. Shri Prakash Dubey, Principal Commissioner of Income Tax and Mr. Satyanarayan Takhar and Mr. Abhinav Prakash, Additional Commissioner of Income Tax (Exemp) who also contributed technical perspectives and underscored the department’s “trust but verify” approach to oversight-leveraging risk-based scrutiny while working to simplify compliance for genuine charitable institutions.

This interactive seminar underscored the ongoing transformation of India’s income tax regime for exempt entities, signalling significant improvements in clarity, process efficiency, and regulatory oversight poised to benefit taxpayers and the department alike as the country transitions to the Income-tax Act, 2025.

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