New investments in India plunge to 14-year-low
New project announcements in India have declined to the lowest levels since mid-2004 even as stalled projects remain near record levels, shows data
Mumbai: Dashing hopes of a quick economic turnaround, investments in the just-ended December quarter fell to a 14-year-low, fresh data from the project-tracking database of the Centre for Monitoring Indian Economy (CMIE) shows. Indian companies announced new projects worth ₹ 1 trillion in the December quarter, 53% lower than what was announced in September quarter, and 55% lower than the year-ago period (chart 1).
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