New Delhi, Aug. 22 -- Any slowdown in the global artificial intelligence (AI) capital expenditure boom could pose a significant risk to India's ongoing cyclical recovery, with weaker global demand and commodity prices likely to weigh on corporate revenue and credit growth, while a still narrow domestic recovery could amplify the impact, according to Nuvama Research.

Nuvama said India has experienced cyclical buoyancy over the past year, particularly in nominal variables such as corporate top-line growth and aggregate credit. Corporate top-line growth has risen to around 20 per cent year-on-year, while aggregate credit growth is around 15 per cent, supported partly by domestic measures including GST cuts and monetary easing, as well as th...