Rating agencies’ take on 2022: CRISIL, ICRA, India Ratings
The private corporate sector, after having overinvested in the earlier booms, will take a calibrated approach this time around.
Synopsis
Private sector capex is showing some signs of pick-up. This is led by large companies in steel and cement, where capacity utilisation is at healthy levels.
Cautiously Optimistic on a Broad-based Recovery ADITI NAYARChief economist, Icra Rising vaccinations should support confidence, although their efficacy against the Omicron variant of the coronavirus remains to be seen. As confidence revives, especially for households dependent on the less formal and contact-intensive sectors, we expect consumption to receive a boost. This, in conjunction with strong exports, should push capacity utilisation
