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India's power sector set for up to 6 per cent CAGR on multi-vector capex upcycle: Citi

India's power sector is positioned for a sustained growth trajectory with a medium-term forecast set at a 5-6 per cent CAGR, supported by the convergence of electrification, data centers, cooling loads, and manufacturing sectors. According to a Citi Research report, the country is currently witnessing its first-ever multi-vector capital expenditure upcycle that spans thermal, renewables, transmission, and grid storage.