Zarin Daruwala of Standard Chartered Bank, speaking on the sidelines of the 18th edition of the CNBC-TV18 India Business Leaders Awards (IBLA), highlighted several positive developments in the Indian corporate sector.

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One of the main drivers of expansion in the corporate sector, according to Daruwala, is the Indian government's Production-Linked Incentive (PLI) scheme and infrastructure push. These initiatives are helping companies to grow and create jobs, which is a positive sign for the Indian economy.

Daruwala also noted that there is a lot of demand for housing in India. This is a reflection of the country's growing middle class and their aspirations for better living standards. It also presents opportunities for businesses that are involved in real estate development and construction.

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In addition to these positive trends, Daruwala also spoke about the resilience of Indian banks. Despite the global banking crisis, she noted that Indian banks have been fortunate to be "ring-fenced". This means that they have been able to weather the storm better than many of their global counterparts.

One reason for this resilience, according to Daruwala, is that Indian banks are more reliant on retail deposits. This means that they are less exposed to risks associated with wholesale funding. In addition, she noted that Indian banks are generally more conservative than their global peers. This has helped them to avoid some of the excesses that led to the global banking crisis.

Finally, Daruwala offered some insights into the future of interest rates in India. She believes that the peak of interest rate hikes is near. This is a positive sign for businesses and consumers, as it suggests that borrowing costs may soon start to come down.

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