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Post-pandemic economic recovery was largely driven by gross fixed capital formation (GFCF), which grew 25.6% YoY during FY22 to reach Rs67.9trn in nominal terms. Institutional data indicates that the largest contribution to growth in GFCF was by the household sector, which expanded its share to Rs27.5trn (30% growth YoY).
The Telecom Regulatory Authority of India (TRAI) has released its data on subscribers (subs) for Feb’23. Industry-wide active sub base rose by 2.8mn MoM (vs rise of 3.9mn in Jan’23 and rise of 1.9mn average in past six months) with Bharti Airtel (Bharti) adding 0.8mn subs (vs 1.7mn in past six months); it was adversely impacted by the rise in minimum recharge.
The momentum in India's industrial activity eased in Mar'23 falling to a five-month low. The output during the month expanded by merely 1.1% YoY vs 5.8% in the previous month.
Equity mutual fund schemes saw inflows of Rs64.80bn in Apr'23, down by a third from the previous month and 47% lower than the average of the previous 12 months, according to data from the Association of Mutual Funds in India (Amfi).
India's retail inflation grew at the slowest annual pace in eighteen months in April'23. The headline inflation reading for the month was 4.70% (YoY) as against 5.7% (YoY) in March'23.
Spot HRC spread for sheet steel players has fallen slightly in the week ended 10th May’23 compared to last week due to an uptick in coking coal prices and HRC price remaining range-bound. In export market, FOB India prices corrected sharply by US$48/te, tracking the decline in Chinese export price.
