Indian companies are likely to clock 7-8% revenue growth during the March quarter of the current fiscal year, domestic rating agency ICRA said on Monday. It highlighted that the growth will be led by revival in rural demand and uptick in government spending.
ICRA projected the economy to grow at 6.4 per cent in Q3 from 5.4 per cent in Q2, benefitting from enhanced government spending amid uneven consumption.
It said, this is due to the heavy rains and weak margins offsetting the buoyancy injected by the turnaround in Government capital expenditure and healthy trends in kharif sowing.
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Indian apparel exporters will register a 9-11 per cent revenue expansion in FY2025, the independent and professional investment information and credit rating agency, ICRA said on Monday.
The share of renewable energy, including hydro, in the country’s power generation is projected to rise to 35 per cent by FY30, up from 21 per cent in FY24, a report showed on Friday.
Riding on the government’s big infrastructure drive, the construction sector in the country is estimated to grow 12-15 per cent in FY25, a report said on Wednesday.
ICRA said that the domestic steel consumption between February and April 2024 registered a growth of 11.3%. While government capex spending was healthy until February 2024, other steel-consuming sectors like housing/real estate contributed to the resilient demand after that, it said.
The company has a current installed capacity of around 6 MW with more than 500 charge points under construction.
In the March quarter of 2022-23 fiscal, the country’s GDP expanded 6.1 per cent, as per May 31, 2023 estimates. The growth for full fiscal 2022-23 was 7 per cent.
