Uneven demand, volatile commodity prices, trade-related uncertainty amid heightened geopolitical tensions and competition from cheap imports are weighing on corporate capital expenditure decisions, with investment confidence still "catching up", Times of India reported, citing a paper prepared for a two-day banking conclave attended by Finance Minister Nirmala Sitharaman. The paper, prepared by SBI Caps, said large capital projects require confidence not just in current demand but also in the visibility of future cash flows. Persistent uncertainty over pricing, input costs and end-market demand is prompting companies to defer investments.