Private sector Capex to reach INR 6 trn by year-end: CEA

Witnessing INR 6 trillion in private capital expenditure (Capex) at the end of 2022 will be a major improvement over the last 6-7 years

November 25, 2022

Capex of the private sector has reached INR 3 trillion during the first half of this year

International and private sector participants will grow by 6.5-7% in FY23

The country’s economy grew by 13.5% in the April-June quarter of 2022

Bank credit witnessed a growth of 18% this year

India’s private sector capital expenditure (Capex) could reach INR 6 trillion by the end of 2022, according to Chief Economic Advisor (CEA) V Anantha Nageswaran. 

According to Nageswaran, private Capex has reached INR 3 trillion during the first half of this year, and the amount expected for the end of this year can be achieved if the private sector maintains its Capex pace. He also said that the country witnessing INR 6 trillion in private Capex at the end of 2022 will be a major improvement over the last 6-7 years

India’s growth projections from the Reserve Bank of India (RBI) for FY23 say that international and private sector participants will grow by 6.5-7%. Additionally, the country’s economy grew by 13.5% in the April-June quarter of 2022. 

Regarding bank credit in the country, Nageswaran said that growth has been witnessed at 18% this year. He also said that the Current Account Deficit is going to be between 3-3.2% of the GDP for FY23. However, the Indian rupee has been lately performing well, and the imports took place at convenient prices. 

The government has brought out the Product Linked Incentive schemes for various industries, to help in increasing their domestic manufacturing capabilities. This will be a driver of any forthcoming increase in private Capex.


Source: Indian Express

Recent Articles

India rises to third in global domestic airline market

June 20, 2024

According to an analysis based on OAG data, India has …

Read More

TCS, Infosys, and Airtel ranked among top 100 global brands

June 20, 2024

TCS and Infosys, India’s leading IT services companies, have been …

Read More

US and India strengthen strategic trade and technology ties

June 19, 2024

US NSA Jake Sullivan and Indian counterpart Ajit Doval have …

Read More