Mumbai India is witnessing broad-based economic growth, with companies stepping up capital expenditure as rising capacity utilisation and improving demand encourage businesses to expand investments, FICCI President and RPG Group Vice Chairman Anant Goenka said on Tuesday. Speaking on the sidelines of the FICCI FRAMES event, Goenka said investment activity was gaining momentum across industries as utilisation levels increased. He said the trend reflected improving business confidence and stronger demand conditions. "We do see overall broad-based growth. We see increased capex across the board now, as utilisation levels are going up," Goenka said. He highlighted the automobile sector as one of the areas recording substantially higher growth, adding that its performance was generating positive spillover effects across the wider value chain. "Of course, certain sectors like automotive have seen substantially higher growth, and therefore, the entire value chain gets positively affected," he said. However, Goenka cautioned that companies continued to face pressure on profit margins because of higher commodity prices. While businesses were passing some increased costs on to consumers, he said there was generally a lag before the impact was fully reflected in prices. "Margin pressure will continue until commodity prices stabilise," Goenka said, pointing to the rise in crude oil prices from around $90 per barrel to about $100 or higher. On the media and entertainment industry, Goenka described FICCI FRAMES as an iconic platform that has completed 26 years. He said the sector was undergoing significant changes driven by multiple screens, shorter attention spans, artificial intelligence and synthetic data. He said FRAMES provided a platform for creators and users to discuss these changes and understand how the future of the media industry could evolve. "Margin pressure will continue until commodity prices stabilise." - Anant Goenka (FICCI President and RPG Group Vice Chairman) "We do see overall broad-based growth. We see increased capex across the board now, as utilisation levels are going up." - Anant Goenka (FICCI President and RPG Group Vice Chairman)