Q2: Utility segments remain bright spots

28 Nov 2020 Editorial Team

Some essential infrastructure activities were the best performers in yet another gloomy quarter. While the overall GDP growth rate stayed negative, at -7.5%, electricity, gas, water supply and other utility services grew at 4.4%, topping the charts in the quarter. Agriculture, forestry and fishing grew at 3% while in a relief, manufacturing was on the positive side, too, at 0.6%.

However, construction remains a big concern as the GVA for construction slumped more than 8%. Defence and other services were down 12%. Real estate and professional services contracted by 8.1%.

As India plummeted into its first recession in decades, the first quarter’s (Q1 2021) slump to a worst-ever -23.9% in a coronavirus-hit, lockdown-hampered economy was followed by something that many consider better news.

Consumption, however, shrank by 11.5%, and is an indicator that actual recovery of demand in the private sector is a distance away. The path to recovery, however, seems to be in place unless the coronavirus situation worsens over the next months. The third quarter (Q3 2021) includes much of the festive season and may be something the industries will look forward to, although Q2 also encloses a small part of festive spending.

RBI governor Shaktikanta Das warned the industry of overoptimism, especially about expectations that the economy will grow faster than earlier anticipated, since the Covid- 19 pandemic is feared to resurge in the country.

It may be recalled that eight core sectors have shown contraction in October, including crude oil, natural gas, refinery products, steel, fertiliser. However, coal (11.6%) and electricity (10.5%0 grew significantly in October.

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..