India Inc In $800-Bn Capex For Next Decade

New Delhi: Indian conglomerates are likely to spend about $800 billion in new businesses over the next 10 years, almost triple of what they spent over the prior decade, a report showed on Monday.

“About 40 per cent of Indian conglomerates’ spending over the coming decade will be on new businesses, such as green hydrogen, clean energy, aviation, semiconductors, electric vehicles (EVs) and data centres,” said Neel Gopalakrishnan, credit analyst at S&P Global Ratings.

The Adani Group, Tata, JSW group and others are prepping about $350 billion of investment in the new and emerging sectors over the next decade. Many of the other conglomerates will focus more on their established businesses, with an emphasis on boosting scale and profitability.