January Index of Industrial Production (IIP) was strong at 7.5 percent and capital goods showed a sharp increase by 14.6 percent.
MS Unnikrishnan, MD of Thermax said that the company expected 24-25 percent improvement in order inflow in FY18.
He said that the recovery was visible as the consumer-facing sector, durables as well as industrial sectors were performing well. Apart from this, fertilizer and cement sectors are seeing positive momentum.
"I do not expect revival in power space over next 2 years", said Unnikrishnan.