Summary

The Indian economy and the corporate sector are seeing a flush of optimism after a rather worrying tryst with the Covid-19 pandemic.

As an exciting economic recovery path beckons in fiscal 2022, it's time to deliberate on critical issues of global and domestic macros, sectoral recovery trends, and income and consumption dynamics.

While a sharp growth rebound next fiscal looks certain - aided in no small measure by a statistical low-base effect - the sustainability of higher growth rates over the medium-term hinges on the much-delayed investment cycle.

There are many potential drivers that can lift private sector investments meaningfully over the next 12-18 months. Apart from time-bound sops under the Production-Linked Incentive scheme, they include deferral of capex since the past two years, improving utilisation rates - especially for larger players in some sectors, lower funding cost, buoyant equity markets and capital-raising, possible foreign direct investment flows re-routed by the 'China-plus-one' strategy, and expectations of continued reforms to support India's manufacturing sector.

What's moot is, can all this finally turn the elusive private sector capex cycle?

In this context, we would like to invite you to our annual India Outlook Seminar 2021-22. The theme of the seminar is titled, "Is the investment cycle rebound round the corner?"

The agenda will include presentations by CRISIL and S&P team and panel discussions with eminent market leaders and experts.

The seminar will be held virtually. We look forward to your presence at the event.