India’s new capex cycle is being driven by cash-rich giants, HSBC India CEO Hitendra Dave says

India's corporate investment cycle now features financially stronger companies expanding capacity. These well-capitalized groups are using internal cash flows for growth and consolidation. This differs from the earlier debt-heavy boom which relied on bank financing. HSBC India's balance sheet is expanding significantly, crossing five lakh crore rupees. Global capital flows require fresh triggers like reforms or FDI announcements.