The CFO of Ceat, Kumar Subbiah, prioritizes overseas export growth, aiming to increase it from the current 18-19% of revenue share to around 25% in the next two years. To achieve this, Ceat plans to launch passenger car radial tyres and truck and bus radial tyres in the US market. The company has witnessed growth in export and replacement businesses, while the OEM business was muted in the last quarter.
Political parties spending for the Indian general election could exceed ₹1 lakh crore, potentially increasing consumption and boosting growth by 0.2-0.3 percentage points in the last quarter of FY24. Candidates are expected to accelerate their spending, increasing travel for campaigns and publicity material. The increase in consumption is expected to be more pronounced for rural households and lower-income groups.
The momentum in capex could be the beginning of the long-awaited corporate capex cycle while growth in the construction sector will support jobs and consumption
The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) rose from 57.2 in April to 58.7 in May, indicating the strongest improvement in the health of the sector since October 2020.