Corporate capex growth is finally turning positive. After four years of decline, we expect global growth of 5.5% in 2017. The recovery is broad-based, with positive growth expected in all regions and in nearly all sectors.
India has had a strong start to 2017. After a shaky period at the end of 2016 when the reformist government took the radical step of withdrawing 86% of the currency from circulation overnight to tackle the ‘black economy’, economic growth has recovered and equities have rallied.