The author concludes that weak corporate capex is not unique to India and does not expect a strong pick-up in India's corporate capex over the next few years. India's corporate capex has held at 14-15% of GDP over the past decade, its lowest level in almost two decades, though it is not low compared with most major economies, where China leads at 26%. India's total investment-to-GDP ratio averaged 33% in recent years, second only to China's 40%, with household capex offsetting a corporate share that has fallen to about 45%. Excluding China, global corporate capex has been stagnant at about 14% of GDP for two decades even as global profits rose from 6% to 9.6% of GDP. India's corporate debt fell from 70% of GDP in 2011-12 to 48% in 2023-24 before rising back toward 50%, a deleveraging pattern the author says is common internationally, while US corporate debt hit a decade low of 48.7% of GDP in Q2 2026.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on livemint.com ↗
Keywords
Open a keyword to see other news on the same topic.
Related news
- Dalal Street Week Ahead: Jio IPO, Q2 earnings, China GDP, oil prices, PMI flash numbers among 10 key factors to watch
- Regular Central Bank Dialogue Underpins Win-Win China-EU Economic and Financial Ties: ECB Official
ECB Executive Board member Philip R. Lane told Xinhua that regular exchanges between the ECB and the People's Bank of China, which began with a governors' meeting in Beijing in June 2025, deepen understanding that benefits both sides. He pointed to joint work on green finance, the G20 roadmap for cross-border payments, and European interest in China's open-weight AI models. Lane said China's GDP grew 4.5% year on year in the third quarter of 2026 and that its strong exports benefit European consumers and manufacturers. China and the EU have agreed to keep discussing lower tariffs on some goods under WTO rules and to let the European auto sector adjust gradually. Lane also said the euro area has proved more resilient than expected, but energy prices and inflation have risen sharply because of the Middle East conflict.
- China GDP beats forecasts as export boom offsets weak demand
- China GDP beats forecasts as export boom offsets weak demand
China's GDP grew 4.5% in the third quarter, beating a 4.4% forecast and rebounding from three-year lows, while the first nine months expanded 4.6%. Booming exports, which rose by more than a third, are the main driver, while September retail sales rose just 1.1%, fixed-asset investment fell 7.2% over January to September, and the property downturn continues to weigh. Analysts expect China to meet its 4.5% to 5.0% 2026 growth target without additional stimulus, but Societe Generale economist Michelle Lam warned that without a decisive policy shift toward household incomes and consumption, the economy may remain stuck in low inflation and sub-par growth.
- China growth picks up as exports surge , consumers remain cautious
China's economy grew 4.5% in the third quarter, beating the 4.4% forecast and rebounding from three-year lows, as a surge in exports offset weak consumer spending and a prolonged property downturn. GDP grew 4.6% in the first nine months, and analysts expect Beijing to meet its 4.5% to 5.0% growth target for 2026 without extra stimulus. Growth remains uneven: retail sales rose just 1.1% against 5.5% industrial output growth, fixed-asset investment fell 7.2% in January–September, and unemployment eased to 5.2% in September. Exports rose more than a third and China may surpass last year's US$1.2 trillion trade surplus, but economists warn of dependence on overseas demand and weak domestic consumption. The yuan hit its strongest level since July 2022 after the data.
- China growth picks up as exports surge , consumers remain cautious
China's economy grew 4.5% in the third quarter, beating the 4.4% forecast and rebounding from three-year lows, as a surge in exports offset weak consumer spending and a prolonged property slump. GDP rose 4.6% in the first nine months, and analysts expect Beijing to meet its 4.5%–5.0% growth target for 2026 without additional stimulus. The recovery remains uneven: retail sales rose 1.1% in September, their fastest pace in six months but from a low base, while fixed-asset investment fell 7.2% in January–September. Exports rose more than a third and the trade surplus is on track to surpass last year's US$1.2 trillion, but ANZ and Societe Generale warned of trade tensions and reliance on overseas demand. The yuan strengthened to its highest level since July 2022 after the data.
Related markets
Latest news
- Musk's wants to merge SpaceX and Tesla: Here's what to know
Musk said SpaceX and Tesla have formed special committees to study a merger, which would be worth about $3.5 trillion combined and would be the largest corporate deal in history. SpaceX, valued at about $2 trillion after a record listing this year, absorbed Musk's AI startup xAI in February, while Tesla is valued at about $1.5 trillion. Musk holds about 82 percent of SpaceX's voting power but only about 20 percent at Tesla. Dan Ives puts the odds of a deal at 90 percent by early 2027, though Musk called the requirement of a majority of all Tesla shares 'quite a high hurdle'. Loyal retail investors hold an estimated 25 to 27 percent of Tesla shares, and legal obstacles appear slight because both companies moved their incorporation to Texas from Delaware.
- CoreWeave and Nebius Stocks Are Crashing. Time to Buy the Dip?
Shares of Nebius and CoreWeave each fell 25% in the week of October 12 to 16. The sell-off stems from the yield on CoreWeave's debt in the secondary market surging to 15%, versus roughly 5% on Treasuries, which pushes the debt into 'distressed' territory and signals doubts about its ability to meet obligations. Nebius sold off in sympathy as a fellow neocloud company. The bigger concern is that both companies must keep issuing debt to fund data centers, and if yields are high at issuance, the assumption of nearly unlimited cheap capital could be challenged. The author says it is unclear whether now is the time to buy.
- Disney’s multiplatform Super Bowl plan frustrates ABC affiliates
ABC station owners are irritated that Disney is airing the Super Bowl across several platforms, including Disney+, ESPN2, NFL Network and ESPNU, even though the game is already on ABC and ESPN. A station group CEO estimates that the combined platforms could cut broadcast ad revenue by up to 35% compared with last year. Local affiliates typically earn about 3% of annual ad revenue from the Super Bowl and pay network owners reverse retransmission fees, but Disney+ lacks geofenced ad insertion, so affiliates cannot sell ads to streaming viewers. Disney says national commercials will be identical on all platforms and that streaming major live events is standard industry practice. Super Bowl LX drew 125.6 million viewers in February.
- Meta’s deal to keep Zuckerberg in California adds fuel to wealth tax debate ahead of election
Meta says Mark Zuckerberg will remain in California for eight years and has created a new stock plan that could help cover his taxes if Proposition 40, a 5% tax on Californians worth over $1 billion, passes on Election Day on Nov. 3. According to a filing released with its third-quarter earnings, Meta will issue non-voting Class C shares starting in January, and Zuckerberg can sell or transfer up to 20% of the shares granted to him without affecting his majority voting control. The filing says Zuckerberg’s leadership is crucial to the company’s growth and its AI ambitions, including Meta Superintelligence Labs. Most of the tech industry opposes the measure, while a recent Citrin-Politico poll found 46% in favor and 43% against, suggesting it may fall short of the majority support it needs.
- Nasdaq sell-off: A momentum unwind 'for the record books'
Matt Stucky, chief portfolio manager for equities at Northwestern Mutual Wealth Management, calls Thursday’s sell-off in the Nasdaq Composite (^IXIC) a momentum unwind “for the record books.” He says the market spent the first half of 2026 driven by a beta and momentum trade led by semiconductors, but in the third quarter, as rates rose, money shifted into quality stocks. He does not think the sell-off is justified by fundamentals, arguing that institutional portfolio managers swapping out of factor positions can drag down whole baskets of stocks. In semiconductors, spot rental rates for Nvidia Blackwell chips are higher than a month ago, showing tightening compute supply, even as financing costs rise and investors worry about neocloud business models and the rising cost of insuring their bonds.
- Dune launches real-time data feeds covering 200 onchain trading venues
Blockchain analytics platform Dune has launched real-time market data feeds covering more than 200 onchain trading venues, aiming to bring this data into the systems of traditional financial institutions. The feeds draw trade data from 12 blockchains, including Ethereum, Solana and Base, about one second after execution, covering both spot trading on decentralized exchanges and perpetual futures on Hyperliquid and Lighter. Early clients include quant funds, market makers, asset managers and bank trading desks, which use the data to assess liquidity and compare prices, though Dune did not name them. Meanwhile, the tokenized stock market has grown sharply, with distributed value reaching $3.58 billion, but 16 companies, including Microsoft, Alphabet and Goldman Sachs, have objected to their shares being traded on OKXICE’s proposed platform, and liquidity remains fragmented.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.