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Kumar Mangalam Birla’s Annual Reflections: Capex fest is coming, resilience and unit-economics will be back in vogue

Chairman of the Aditya Birla Group wrote that only intellect can be a sustainable moat in the world of ‘cheap capital’

January 28, 2022 / 05:28 PM IST
Kumar Mangalam Birla wrote that “real success lies in the quiet acceptance of both (highs and lows of life)

Kumar Mangalam Birla wrote that “real success lies in the quiet acceptance of both (highs and lows of life)" in his Annnual Reflections.

The coming decade will be one of “capex mahotsav”, wrote Kumar Mangalam Birla, in his Annual Reflections for 2021-22.

“In India, a generation of entrepreneurs are now taking advantage of economic reforms as profound as those in 1991. The twin-balance sheet problem of stressed loans and over-leveraged corporates is also behind us. And therefore, the coming decade will see an upsurge in capital expenditure across many sectors,” wrote the chairman of Aditya Birla Group

He also sees the private sector achieving a “double-engine growth”. 

“Investors are excited about growth prospects in core sectors as well as sunrise sectors. In my view though, the word sunrise sector applies to the entire landscape in India, which includes both conventional sectors like cement, steel, power and auto and emerging areas like digital and renewables. Both hold the promise of high and sustained growth,” he wrote.