Uptick in corporate capex speeds up growth drive

New Delhi: Global brokerage Morgan Stanley expects the capex recovery in India to become broad-based with private capex to lead the next leg of recovery. Anecdotal evidence suggests nascent signs of a pickup in corporate capex, reflecting new investment announcements made recently, with approval for three semiconductor chip manufacturing plants entailing an investment of $15 billon and the new approved EV policy that could trigger investments in electric vehicles, the brokerage said.