India Inc Eyes 7-8% Revenue Growth in Q4 on Rural Demand

Domestic rating agency ICRA on Monday said Indian companies are likely to clock 7-8% revenue growth during the March quarter of the current fiscal year, led by revival in rural demand and uptick in government spending.

- Press Trust of India

NEW DELHI:

ICRA expects the private capital expenditure (capex) cycle to remain measured in view of the uncertainties around geopolitical developments and relatively subdued outlook on merchandise exports from India.

Nonetheless, certain sunrise sectors such as electronics, semiconductors and niche segments within the automotive space like electric vehicles (EVs) will continue to see a scale-up in investments, in line with various production-linked incentive programmes announced by the Government of India, it said.