Cross-sectoral trends and outlook

Cross-Sectoral Trends and Outlook Research focuses on reports that analyse the impact across multiple sectors arising from changes or launches of government policies, schemes, geopolitical developments, emerging trends, and significant industry shifts. These reports are primarily theme-based, offering a comprehensive view of interconnected industry dynamics. This segment also releases a monthly compendium summarising all major thematic reports published during the month.

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Special Comments

Date	Reports	Category
22 Aug 2025	Moderate import dependency on Thailand; alternate sourcing options across ASEAN and other regions	Thematic Report
19 Mar 2025	3,500 projects with investment of Rs. 25 trillion added to NIP during FY2025; however, completion rate remains low at 20%	Thematic Report
04 Mar 2025	Depreciation of INR relative to USD to have negative impact on few sectors such as refining & marketing, CGD, airlines and chemicals	Thematic Report
12 Feb 2025	Capex deployment likely to reach ~45% by March 2025; but incentive disbursements remain low till FY2026 BE	Thematic Report
27 Dec 2024	Discounted oil and fertilisers, increased engineering exports to reduce India’s trade deficit with Russia	Thematic Report
27 Nov 2024	PMAY -U 2 may have ripple effect on multiple sectors; although the impact on major sectors is expected to be limited	Thematic Report
15 Nov 2024	Policy changes by new US Government may impact some specific sectors	Thematic Report
18 Oct 2024	Rising tensions between India and Canada could result in commercial and economic consequences for both nations	Thematic Report
11 Oct 2024	Escalation of conflict in West Asia could have macroeconomic and sectoral implications for India	Thematic Report
16 Sep 2024	India & Japan flows dominated by FDI and FPI; bilateral tie-ups important for economic and infrastructure growth	Thematic Report
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Persistent asset quality challenges to dampen profitability and growth expectations in FY2026

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Industry volumes remained flattish YoY in Q1 FY2026; gradual recovery expected in the near term

Commercial Vehicles

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Growth momentum sustains at a slower pace; improving operational efficiency crucial as competition intensifies

Affordable Housing Finance

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Credit Perspective Reports

ICRA's 'Credit Perspectives' provide detailed analysis on ratings assigned. These reports broadly cover the following areas: Key rating considerations..

What's latest in CPR

Apeejay Surrendra Park Hotels Limited
31 Oct 2025
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31 Oct 2025
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31 Oct 2025
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31 Oct 2025
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Rating Rationales

Name	Email	Phone
31 Oct 2025	HT Media Limited: Rating reaffirmed
31 Oct 2025	SRJ Peety Steels Private Limited: Long-term rating reaffirmed; short-term rating reaffirmed and withdrawn
31 Oct 2025	United Breweries Limited: Ratings reaffirmed for bank facilities; reaffirmed and withdrawn for commercial paper
31 Oct 2025	Hindustan Media Ventures Limited: Rating reaffirmed
31 Oct 2025	Studio 18 Media Private Limited: Rating withdrawn
31 Oct 2025	NCML Finance Private Limited: Moved to Non-Cooperating category
31 Oct 2025	Economic And Entrepreneurship Development Foundation: Rating downgraded
31 Oct 2025	Qatar National Bank (Q.P.S.C), India Branch: Rating reaffirmed
31 Oct 2025	International Travel House Limited: Ratings reaffirmed
31 Oct 2025	Transport Corporation of India Limited: Rating reaffirmed for bank facilities; commercial paper rating reaffirmed and withdrawn