An industrial and capex super-cycle is unfolding across Asia. Economies around the world are racing to spend more on AI and AI-related infra, energy security and transition, defence, and onshoring of industrial supply chains.
These drivers can help catalyse a capex cycle in India, too. This is particularly the need of the hour given the rising underemployment problem. If we want to create enough jobs for new entrants to the workforce and address underemployment, India's economy needs to grow at 12-14% in nominal terms for a decade.
