Indian Economy To Power On, SBI Caps Sees Strong Future

The State Bank of India's Capital Markets and Securities (SBICAPS) recently released a report titled "Indian Economy: Maintaining Momentum on a Deteriorating Global Pitch," presenting an optimistic outlook for several sectors within the Indian economy despite global uncertainties.

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The report underscores a positive trajectory for the power sector, road infrastructure, manufacturing, industrial activities, and banking.

In the power sector, persistent heat waves have led to a surge in power demand, particularly in the Northern region. To address this, the Union government has urged power companies to import equipment worth USD 33 billion, aiming to add 31 GW of capacity over the next 5-6 years. Discussions are also underway to revise the National Electricity Plan to accommodate this increased demand.