India Inc capital expenditure growth enters slow lane in first half of FY24

This follows the sharp deceleration in revenue growth

The slowdown in corporate revenue growth over the last one year has begun to reflect in India Inc’s capital expenditure, or capex. The country’s top listed companies are going slow on fresh investment in capacity expansion, in line with a deceleration in their top-line growth.

The combined fixed assets of the listed companies, excluding banking, finance services and insurance (BFSI) and the government-owned oil & gas firms, were up 10.1 per cent year-on-year (Y-o-Y) during April-September 2023 (H1FY24) – the slowest in 18 months – as against 21.1 per cent Y-o-Y growth in H2FY23 (October 2022-March 2023) and 11.6 per