The CEO at Crisil, the biggest rating company in India, has revealed that private sector capex in the Indian economy has reached a critical stage and is beginning to flow.
A foreign brokerage report predicts that the Indian economy will grow at a rate of 6.2% in the next fiscal year, citing favorable policy settings, positive credit momentum, and manageable macros. Despite external challenges, the growth is expected to be supported by these factors. Read more on the Economic Times.
The RBI’s State of the Economy report warns about short-term risks of spikes in food prices and discusses the long-term goal of 4% inflation. It predicts robust growth for the Indian economy, lower input costs, and increased corporate profits. The report highlights inflation as a key risk to growth and addresses the anticipation of a decline in inflation to 4.6% in the first three-quarters of FY25.
Foreign consumer brands are increasingly investing in the Indian market, attracted by the country’s growing middle class and rising disposable incomes. Deloitte estimates that India will become the third-largest consumer market by 2030, after the US and China. Indian companies are also benefiting from the addition of international brands to their offerings, providing customers with more choices.
Parent company InCred Holdings has achieved unicorn status with a valuation of over $1 billion. The funding round, which raised Rs 500 crore, included investments from global PE funds, corporate treasuries, family offices, and UHNIs. InCred aims to become a central part of every Indian family’s financial aspirations and plans to list the business in the future. Its loan book has grown to Rs 7,500 crore with a CAGR of 50% over the past three years.
Finance Minister Nirmala Sitharaman is optimistic about India’s economy and expects the private sector to invest actively. She believes that the current inflationary pressures are manageable and that the Reserve Bank of India is focused on the country’s needs. Sitharaman also discussed the potential for rate rationalization in the Goods and Services Tax (GST) and expects strong GDP growth in the next quarter. Additionally, she highlighted India’s achievements at the G20 summit and commented on the Hindenburg report’s impact on corporate governance.
