Moody’s: Indian companies to spend USD 45-50 billion annually on capex 

Moody’s Ratings expects Indian companies to invest USD 45-50 billion annually in capex over the next 1-2 years, with Reliance Industries accounting for 30% of this. The oil and gas sector, including Reliance, will make up over 60% of the total spending, focusing on capacity expansion and green energy.

Strong earnings will keep leverage low for Indian firms, despite high offshore borrowing rates. Moody’s forecasts a 6% GDP growth for India over the next two years, driven by domestic demand and government infrastructure spending. Earnings for rated companies are expected to grow by 5%, benefiting sectors like metals, telecommunications, and automobiles.