According to Goldman Sachs, private sector manufacturers in India increased their new investment announcements in FY22 by more than thrice over the previous year, to Rs 8.08 lakh crore.
“Both conventional industries like petrochemicals, steel, cement, and autos, as well as new-age sectors like electronics, e-vehicles, and data centres, contributed to the rise,” Goldman stated in a study.
In comparison to FY20, which was impacted hard by the coronavirus pandemic at the conclusion of the year, private manufacturers announced a 460 percent rise in new capital expenditures in FY22.
Fresh private sector capital announcements were Rs 11.10 lakh crore in FY22, up 128 percent from FY20.
