Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
Live Now : Nifty Banker 3.0 | India's First Retail Index Traders Online Conference.
Budget 2023
Budget 2023

Fresh capex announcements by private manufacturers up 210% in FY22, says Goldman

Compared to FY20, new investment projects announced by private manufacturers in FY22 were up nearly six times

April 27, 2022 / 02:37 PM IST

Private sector manufacturers in India raised their fresh investment announcements in FY22 by more than three-fold over the last year to Rs 8.08 lakh crore, according to Goldman Sachs.

"The growth was contributed by both traditional sectors like petrochemicals, steel, cement and automobiles, and new-age sectors like electronics, e-vehicles, data centers," Goldman said in a report.

Compared to FY20, the tail-end of which was hit by the coronavirus pandemic, the increase in new capital expenditure announcements made in FY22 by private manufacturers was an even higher 460 percent.

On the whole, fresh private sector capex announcements in FY22 amounted to Rs 11.10 lakh crore, up 128 percent from FY20. The rise over FY21 was in the 145-150 percent range given that fresh private sector capex announcements fell in FY21 when compared to FY20.