NEW PROJECT STARTS saw a disappointing 22.1% year-on-year fall in the December 2024 quarter, reversing the trend in the September quarter when they had recorded a smart 64% y-o-y increase.
Data from the Centre for Monitoring Indian Economy (CMIE) reveals that the total value of new projects announced in the December quarter was ₹6 lakh crore. This is much smaller than the ₹7.7 lakh crore worth of investments announced in the December 2023 quarter and the ₹7.2 lakh crore worth of projects announced in the September 2024 quarter.
Announcements from both the private sector and the government slowed, belying expectations of a meaningful pick-up in capex. While a host of companies are investing, especially in sectors such as renewable energy, capital goods, the quantum of investments taking place was expected to be bigger.
This story is from the January 02, 2025 edition of Financial Express Mumbai.
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This story is from the January 02, 2025 edition of Financial Express Mumbai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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