India - The Economic Pathway: CareEdge

Consumption indicators show a mixed scenario while investment prospects remain optimistic.

<div class="paragraphs"><p>Traffic light trail. (Photo: Abizer Shihorwala / Source: Unsplash)</p></div>
Traffic light trail. (Photo: Abizer Shihorwala / Source: Unsplash)

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. 

CareEdge Research Report

Key Highlights:

  • Consumption indicators show a mixed scenario while investment prospects remain optimistic. 

  • Centre’s capex grew by 49.5% in H1 FY23, but must rise further to meet the budgeted target for FY23. 

  • State capex lagged in H1 FY23 with cumulative capex for 26 states marginally up by 2% from a year ago. 

  • Consumer price index inflation eased to a three-month low in October, but core inflation remained elevated.  

  • Wholesale price index inflation moderated to single-digit print of 8.4% after a gap of 18 months.

  • Gross bank credit growth remained upbeat with credit to large enterprises picking up in September. 

  • Import cover improved slightly to 9.1 months in November as forex reserves increased slightly.  

  • Dollar-rupee forward premiums fell below 2.5% as the U.S.-India policy rate differential narrowed.

  • Foreign direct investment inflows in H1 FY23 dipped by 14% compared to a year ago level. 

  • Foreign portfolio investments turned net buyers after a gap of two months with inflows worth $4 billion in November. 

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