capex
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Is India’s Manufacturing Boom Hiding in Pockets?
For several years now, we have been hearing about an imminent capex revival and a manufacturing boom. Many of the essential ingredients seem to be in place. Banks and corporates have healthy balance sheets, so money is available. Government capex is around 4% of GDP. Improving logistics and infrastructure, along with GST implementation have reduced… Continue reading
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The Comfort Trap
Indian companies have record cash reserves. Banks have clean balance sheets and want to lend. Yet private Capex remains subdued. Instead of leveraging excess cash and cheap loans to invest, companies are hoarding cash, buying government bonds, or returning money to shareholders via dividends and buybacks. So why is this? The usual excuse is poor… Continue reading
