Industry Update Back
Capex tracker: New project announcements decline sharply

Intentions to set up new projects were at INR845b in 2QFY18, a dip of 64% YoY and the lowest since June 2014, when the new Modi-led government assumed power. Private sector investment proposals fell to their lowest in 15 quarters to INR313b (down 83% YoY) and accounted for 37% of total new project proposals.  The share of government proposals was at 63% and stood at INR532b (down 9% YoY) – of this, the share of state governments was 44%. State government investment proposals stood at INR367b (up 68% YoY), primarily driven by the proposed INR200b Taj International Airport project in Greater Noida. Uttar Pradesh accounts for 24% of the new investment proposals during the quarter.