Last financial year, the industry witnessed a sharp 10 per cent growth in revenue, driven by an 8 per cent year-on-year (Y-o-Y) increase in sugar prices and a steady 2 per cent rise in consumption
Despite this, growth is still projected to exceed decadal averages and will continue to be aided by demand from infrastructure and construction segments
In the FY24, exports of cut and polished diamonds, which account for about 60 per cent of India's gems and jewellery exports, fell nearly a third year-on-year
In FY24, state spends are expected to go up further by 8-12 per cent as their percentage achievement of budgetary allocations are expected to be largely in line with historical average
The cotton prices are likely to remain stable as cotton consumption continues to be lower than production, supporting the cost competitiveness of the cotton textile value chain
In FY24, cotton yarn prices are projected to fall almost 15 per cent due to a high base and subdued export demand. This is expected to hurt price realisation
Private security players' key service offerings include manned guarding, cash management services, and allied services such as electronic security services
MSMEs in the automotive components sector should see higher growth as well, but will lag average industry revenue growth owing to lack of vertical integration.
In FY22 the ITeS sector's revenue logged 13-15% growth to about Rs 3.1 tn, riding on volume recovery across the three key segments - customer relationship management (CRM), knowledge, and transactions
Consumption of electronics in the domestic market is estimated to grow 15-20 per cent to Rs 11-12 trillion, compared with 18-22 per cent growth last fiscal