Crisil Ratings says Indian banks should keep asset quality largely stable, with gross NPAs expected to remain between 2.0% and 2.2% by March 2027. That would be only slightly above the projected historic low of 2.0% in March 2026. Resilience is driven by stronger corporate balance sheets, while MSMEs face pressure amid the West Asia conflict.
India’s alcoholic beverage industry faces fresh profit stress, with Crisil warning that alcobev margins may fall by 150–200 basis points this financial year. The trigger is soaring glass bottle costs, linked to global supply chain disruptions. Revenue growth is also expected to slow. Still, companies are tightening financial discipline to manage the impact.
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Crisil has warned that the West Asia conflict could reduce remittance inflows into India. With around a third of diaspora inflows linked to Gulf Cooperation Council countries, any dip in migrant incomes may widen pressure on India’s current account. The risk arrives as the trade deficit is already under strain, despite India being the world’s largest remittance recipient.
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