Gross value added in the industrial sector posted a stro­ng upturn, registering a growth rate of 3.7 per cent in H1, FY23, higher than the average growth of 2.8 per cent in H1 of the last decade. The Survey credits the rebound to robust domestic demand since FY22 and that has somewhat made up for moderating export growth and provided stimulus to industrial growth. Apart from domestic demand conditi­ons, augmented public capex and strengthening corporate balance sheets triggered investment demand. The improvement in banks’ as