India’s Credit Growth Surprises At 18-19%: Christopher Wood On CapEx | Jefferies Forum 2026

India’s economic data has surprised positively despite the ongoing Middle East conflict, according to Christopher Wood, Global Head of Equity Strategy, Jefferies. Speaking at the Jefferies India Forum, Wood says credit growth in India is running at around 18–19%, significantly stronger than expectations from six months ago. He says the improvement is raising hopes of a pickup in private-sector capital expenditure, a key development that the government has been waiting for. Wood also notes that global macro risks remain in focus, with US 10-year yields above 5% and crude oil above $105 a barrel. However, his focus at the forum remains on company-level opportunities and bottom-up investing. The comments come as investors assess whether stronger domestic data can support India’s growth story amid elevated global uncertainty.