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Consumer goods and healthcare services are sectors with a positive outlook, with consumer goods sector expected to witness a revenue growth of 17.3 per cent CAGR in the 2025-2030 period, a report said on Friday.

The report from Brickwork Ratings said the strong revenue growth of the consumer goods sector is driven by credit growth, GST cuts, unlocking of demand from Tier-II/Tier III cities, and premiumisation.

Meanwhile, tailwinds for the healthcare services sector include strong interest and debt coverage ratios, a medical tourism market of an estimated $13 billion, and expansion of the Ayushman Bharat Programme to senior citizens over the age of 70.

“We expect the economy to remain anchored by 7.7 per cent GDP growth in FY26, supported by strong manufacturing and services activity. For FY27, growth is projected at 6.7 per cent,” said Rajeev Sharan, Head of Research, Brickwork Ratings.

Inflation is projected to be around 4.6 per cent in FY27, although geopolitical risks and El Niño remain key watch points. The RBI's neutral monetary stance, following a cumulative 125 bps repo rate reduction through 2025 to 5.25 per cent, preserves policy flexibility amid external shocks

The report forecasted a stable credit outlook across 22 of its 25 rated sectors in FY27, supported by resilient domestic demand, sustained government capital expenditure, healthy balance sheets, improving operating margins, and predictable cash flows despite geopolitical uncertainties.

Technology, automobiles, telecom, infrastructure, logistics, industrials, and power generation benefit from deleveraging, policy support, export opportunities under new trade agreements, and long-term demand visibility.

“While sectors such as chemicals and textiles face margin pressures, and transport and airports remain relatively leveraged, their credit profiles are supported by strong solvency, improving profitability, and stable revenue visibility,” said K. H. Patnaik, Chief Ratings Officer, Brickwork Ratings.

Of the 25 sectors across 8 industry clusters, the ratings agency has given a negative-to-stable rating to the Power Distribution segment.

“The weakness in the segment is on account of elevated and unsustainable debt levels reflected in the weak credit profile and continued cash gap created due to muted or delayed tariff hikes. DISCOMS which have identified and reduced distribution losses and improved collection efficiency will be better positioned to curb losses and meet the LPS terms,” said Niraj Rathi, Senior Director – Ratings, Brickwork.

From a macroeconomic perspective, the ratings agency maintained that India's macroeconomic environment remains resilient, providing a supportive backdrop for credit quality despite heightened geopolitical uncertainties.