Private Capex Nearing Inflection Point: CMIE, ICRA Experts See Investment Pickup

• India's private investment cycle shows signs of revival, with experts noting a perceptible pickup in recent quarters.
• The improvement is primarily led by the private sector, particularly manufacturing, according to Mahesh Vyas of CMIE.
• Government data supports this, with real investment growth estimated at 7.8% for the full year, exceeding last year's 7.1%.
• While large listed companies are expanding aggressively, the unlisted sector, accounting for 80-85% of capex, shows slower growth.
• Experts caution it's an early stirring, not a full-blown boom, but the direction indicates a positive shift for growth and job creation.

Why It Matters: India's private investment cycle is slowly but surely picking up, driven by manufacturing and large corporates.