India’s current corporate investment cycle is different from the debt-heavy capex boom of 2012-14, with financially stronger companies now expanding capacity through consolidation and internal cash flows, HSBC India CEO Hitendra Dave said in an interview with Times of India's Mayur Shetty.
Dave said the earlier investment cycle was marked by large projects in sectors such as power, steel and cement that relied heavily on bank financing and had little genuine promoter equity. The current cycle, he said, is being led by well-capitalised groups such as Tata, UltraTech and Adani.
