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India Gazette
07-07-2025
- Business
- India Gazette
Investor interest growing for REITs, InvITs; volumes and value both increasing: ICRA Analytics
New Delhi [India], July 7 (ANI): Rising investor interest amid growing confidence in yield-generating assets is leading to good growth in volumes of publicly traded REITs and InvITs over the last two years, ICRA Analytics said in a statement Monday. The total volumes of public InvITs traded increased by 128.23 per cent in the last two years, while that of public REITs surged by a whopping 399.54 per cent since 2022-23, ICRA Analytics said, a wholly owned subsidiary of ICRA Ltd. REITs (Real Estate Investment Trusts) and InvITs (Infrastructure Investment Trusts) are investment vehicles that allow investors, both individual and institutional, to participate in the real estate and infrastructure sectors, respectively, without directly owning properties or infrastructure assets. In terms of traded value, public InvITs grew by 115.53 per cent in the last two years, while public REITs increased by 177.78 per cent since 2022-23, said the report. The volume of public InvITs traded, which stood at 2,735 lakh units in 2022-23, has increased to 6,242 lakh units in 2024-25. On a year-on-year basis, volumes traded increased by 20.52 per cent from 5,179 lakh units in 2023-24. The volumes of public REITs traded increased from a mere 3,273 lakh units in 2022-23 to 16,350 lakh units in 2024-25. On a year-on-year basis, it grew by 230.10 per cent from 4,953 lakh units in 2023-24. The total number of unitholders in both these instruments combined increased by 8.23 per cent to 67.23 crore in 2024-25, compared to 62.12 crore in 2023-24. There are currently five InvITs and four REITs which are publicly traded. 'Market capitalisation of public REITs has grown by a healthy 10 per cent over 2023-24. This remarkable growth underscores renewed institutional and retail investor appetite for commercial real estate-backed securities, supported by uptick in office demand and resilient rental yields. Public InvITs have witnessed 4 per cent rise in market capitalisation on a year-on-year basis,' said Madhubani Sengupta, Head- Knowledge Services, ICRA Analytics. 'The consistent uptick points to ongoing confidence in the infrastructure financing ecosystem and growing recognition of InvITs as long-term yield instruments,' added Sengupta. The year-on-year growth in traded volume, traded value, and market capitalisation for both REITs and InvITs highlights robust market participation and a favourable investment climate. 'These trends reflect the growing maturity of India's alternative investment space and its increasing appeal to both domestic and global investors,' ICRA Analytics added. (ANI)
News18
30-06-2025
- Business
- News18
India's Industrial Production Growth Falls To 9-Month Low Of 1.2% In May 2025
The NSO data shows that the manufacturing sector's output growth decelerated to 2.6 per cent in May 2025 from 5.1 per cent in the year-ago month. IIP Growth In May 2025: India's factory output growth, based on the Index of Industrial Production, in May 2025 slipped to an nine-month low of 1.2% amid poor performance of manufacturing, mining and power sectors, according to the latest official data released on June 30, 2025. The IIP growth had stood at 2.6% in the previous month of April 2025 and at 6.3% in May last year. The National Statistics Office (NSO) also revised upwards industrial production growth for April to 2.6 per cent from the earlier estimate of 2.7 per cent released last month. The NSO data showed that the manufacturing sector's output growth decelerated to 2.6 per cent in May 2025 from 5.1 per cent in the year-ago month. Mining production contracted by 0.1 per cent against a growth of 6.6 per cent a year ago. Power production declined by 5.5 per cent in May 2025 against 13.7 per cent growth in the year-ago period. During the April-May period of FY26, industrial production grew by 1.8 per cent compared to 5.7 per cent a year ago. India's economic activity is likely to slowdown in the first quarter of the year, compared with 7.4 percent growth witnessed in the fourth quarter of FY25. Aditi Nayar, chief economist of ICRA Ltd, said, 'The IIP growth expectedly eased to a nine-month low of 1.2% in May 2025 from 2.6% in April 2025, while printing lower than ICRA's forecast of about 2% for the month. The early onset of the monsoon doused activity in mining and the demand for electricity, with both these sub-sectors of the IIP reporting a contraction in May 2025, amid an anemic growth of manufacturing." Moreover, the underlying trends were uneven, with three of the use-based categories displaying a contraction, amidst a continued high 14.1% expansion in capital goods, boosted by a low base. Tepid industrial volume growth in the first two months of the quarter doesn't augur well for industrial GVA growth in Q1 FY2026, she added. First Published:
Indian Express
27-06-2025
- Business
- Indian Express
India posts $13.5 bn current account surplus in March 2025 quarter
The country's current account balance recorded a surplus of $13.5 billion, or 1.3 per cent of gross domestic product (GDP) in January-March 2025 quarter as against $4.6 billion, or 0.5 per cent of GDP, in the same quarter of the previous fiscal. During the third quarter of FY2025, there was a current account deficit (CAD) of 11.3 billion, or 1.1 per cent of GDP. For the fiscal 2024-2025, the country's current account deficit was $23.3 billion, or 0.6 per cent of GDP, compared to $26 billion, 0.7 per cent of GDP during 2023-24, primarily due to higher net invisibles receipts. The current account deficit is the difference between exports and imports of goods and services. It is a key indicator of the country's external sector. 'While the current account balance expectedly reported a seasonal surplus in Q4 FY2025, the size of the same overshot our expectations, amid a surprise dip in primary income outflows in the quarter. This led to the unexpected narrowing in the CAD to 0.6 per cent of GDP in FY2025 from 0.7 per cent in FY2024,' said Aditi Nayar, chief economist, head – Research & Outreach, ICRA Ltd. During Q4 FY2025, merchandise trade deficit was at $59.5 billion, higher than $52 billion in Q4 FY2024. However, it moderated from $79.3 billion in Q3 FY2025, the RBI data showed. Net services receipts increased to $53.3 billion in Q4 FY2025 from $42.7 billion a year ago. Services exports have risen on a year-on-year basis in major categories such as business services and computer services. In the financial account, foreign direct investment (FDI) recorded a net inflow of $0.4 billion in January-March 2024-25 as compared to an inflow of $2.3 billion in the corresponding period of FY2024. Net inflow under FDI at $1 billion during 2024-25 was lower than $10.2 billion during 2023-24. Foreign portfolio investment (FPI) recorded a net outflow of $5.9 billion in Q4 FY2025 as against a net inflow of $11.4 billion in the same quarter of FY2024. During FY2025, FPI recorded a net inflow of $3.6 billion, lower than $44.1 billion a year ago. Net inflows under external commercial borrowings (ECBs) to India amounted to $7.4 billion in Q4 FY2025, as compared to $2.6 billion in the corresponding period a year ago. Non-resident deposits (NRI deposits) recorded a net inflow of $2.8 billion in fourth quarter of FY2025, lower than $5.4 billion a year ago. There was an accretion of $8.8 billion to the foreign exchange reserves (on a Balance of Payment basis) in Q4 FY2025 as compared to an accretion of $30.8 billion in Q4 FY2024. 'We foresee India's current account deficit to average 1 per cent of GDP in FY2026, assuming an average crude oil price of around $70/barrel for the fiscal, which is eminently manageable in spite of the prevailing global uncertainties,' Nayar said.
Zawya
12-03-2025
- Business
- Zawya
India holds talks with Congo for pact to source cobalt, copper, sources say
India is holding talks with the Democratic Republic of Congo to sign an initial agreement securing supplies of critical minerals such as cobalt and copper, two sources with direct knowledge of the matter said. The world's fastest-growing major economy, India has launched efforts to secure critical minerals from resource-rich nations such as Congo, Mongolia and Zambia to help energy transition efforts and fill growing demand from its industries. As part of New Delhi's increasing efforts to scout for mineral assets abroad, the mines ministry will seek clearance from the foreign ministry to send a team of geologists to Congo, said one of the sources. "The memorandum of understanding is under process, and both countries are interested," said the second source. Both spoke on condition of anonymity as the discussions are not public. The mines ministry did not respond to a Reuters request for comment. New Delhi plans to send officials to attend a mining conference in Congo this year, the sources added, following a visit by a senior official in July 2024 to explore opportunities for sourcing supplies of cobalt and copper. Congo is the world's top producer of cobalt, a key component in batteries for electric vehicles and mobile phones, while copper is used widely in power generation, electronics and construction. But strife in Congo could complicate matters for India as the Rwanda-backed rebel group M23 and pro-Congo militias have battled since the start of the year for control of its mineral-rich eastern regions. "In African countries, the challenge would be geopolitics and that is what delays projects," said Ritabrata Ghosh, vice president and sector head for corporate ratings at ICRA Ltd. Additionally, since the processing of critical minerals is a technologically intensive process, commercialisation would require time after the discovery of copper and cobalt deposits, Ghosh said. India is also preparing to send a team of geologists to Zambia within the next two months, the sources said. On Monday, Reuters reported that the United States was open to exploring partnerships with Congo on critical minerals, after a Congolese senator contacted U.S. officials to pitch a minerals-for-security deal. Last month Congo suspended exports of cobalt for a period of four months to disperse a glut in production.
Reuters
12-03-2025
- Business
- Reuters
India holds talks with Congo for pact to source cobalt, copper, sources say
NEW DELHI, March 12 (Reuters) - India is holding talks with the Democratic Republic of Congo to sign an initial agreement securing supplies of critical minerals such as cobalt and copper, two sources with direct knowledge of the matter said. The world's fastest-growing major economy, India has launched efforts to secure critical minerals from resource-rich nations such as Congo, Mongolia and Zambia to help energy transition efforts and fill growing demand from its industries. As part of New Delhi's increasing efforts to scout for mineral assets abroad, the mines ministry will seek clearance from the foreign ministry to send a team of geologists to Congo, said one of the sources. "The memorandum of understanding is under process, and both countries are interested," said the second source. Both spoke on condition of anonymity as the discussions are not public. The mines ministry did not respond to a Reuters request for comment. New Delhi plans to send officials to attend a mining conference in Congo this year, the sources added, following a visit by a senior official in July 2024 to explore opportunities for sourcing supplies of cobalt and copper. Congo is the world's top producer of cobalt, a key component in batteries for electric vehicles and mobile phones, while copper is used widely in power generation, electronics and construction. But strife in Congo could complicate matters for India as the Rwanda-backed rebel group M23 and pro-Congo militias have battled since the start of the year for control of its mineral-rich eastern regions. "In African countries, the challenge would be geopolitics and that is what delays projects," said Ritabrata Ghosh, vice president and sector head for corporate ratings at ICRA Ltd. Additionally, since the processing of critical minerals is a technologically intensive process, commercialisation would require time after the discovery of copper and cobalt deposits, Ghosh said. India is also preparing to send a team of geologists to Zambia within the next two months, the sources said. On Monday, Reuters reported that the United States was open to exploring partnerships with Congo on critical minerals, after a Congolese senator contacted U.S. officials to pitch a minerals-for-security deal. Last month Congo suspended exports of cobalt for a period of four months to disperse a glut in production.
