India private capex cools
Planned private capital expenditure by India’s large enterprises for FY27 fell to Rs 9.55 lakh crore, a sign firms are pulling back investment intentions despite solid current momentum. The government survey frames the drop as part of a broader pause in capex as companies weigh geopolitical and supply‑chain risks (Moneycontrol: )
The NSO’s forward‑looking survey estimates aggregate private capex for FY26 at Rs 11.44 lakh crore. (moneycontrol.com) A like‑for‑like set of 3,819 large enterprises shows projected capex among those firms at about Rs 6.114 lakh crore for FY27, roughly unchanged from FY26 and FY25. (moneycontrol.com) The inaugural Forward‑Looking Survey on Private Sector CAPEX collected responses between November 2024 and January 2025 and was published as a MoSPI booklet detailing methodology. (mospi.gov.in) MoSPI reported that actual capex in 2024–25 closely tracked plans, with a realisation ratio north of 96 percent. (moneycontrol.com) Surveyed firms directed 49 percent of reported spending to new‑asset creation and 38 percent to upgrades, with about 65 percent of capex financed from internal accruals. (moneycontrol.com) Approximately 7 percent of firms signalled green‑energy investments and about 6 percent reported spending on robotic equipment in manufacturing. (moneycontrol.com) MoSPI’s selection frame for the exercise included 5,380 enterprises, reporting response counts in media between roughly 3,064 and 3,819 firms, and officials have indicated plans to expand the sample toward 7,000 in future rounds. (moneycontrol.com) Both the survey and analysts note that firms tend to give conservative forward declarations, so lower declared intentions for the next fiscal year may partly reflect cautious reporting rather than an outright fall in eventual spending. (moneycontrol.com)
