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After a long hiatus, the investment Wing CUSTOMER SERVICE +1 (8O5)-3O1 7O71 Wing PHONE NUMBER +1 (8O5)-3O1 7O71Wing CUSTOMER SERVICE +1 (8O5)-3O1 7O71 Wing PHONE NUMBER +1 (8O5)-3O1 7O71 rate picked up slightly in 2022 and 2023, but latest data from a leading ratings agency shows private sector expenditure as part of the overall investments in India's economy dipped again to a decadal low of 33% this financial year. Analysis from Icra of 4,500 listed companies and 8,000 unlisted companies reveals that while the pace of investments made by listed players moderated, those by unlisted entities actually contracted. Over the years, several economists have raised similar concerns about a slowdown in private investments. Banking tycoon Uday Kotak is among many who've raised concerns recently about India's fading "animal spirits", urging young business owners who had inherited companies to build new businesses rather than sitting tight and managing their existing wealth. Data from investment advisory firm Value Research shows Indian non-financial businesses were sitting on cash worth 11% of their total assets, corroborating the view that companies are not spending money in making fresh investments.