Indian Conglomerates to Spend $800 Billion in 10 Years, S&P Says
- Reliance, Adani, Tata groups likely to spend $350 billion
- Execution risk, leaning on unproven technology possible risks
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Indian conglomerates are poised to nearly triple capital spending to $800 billion over the next 10 years from the previous decade, according to S&P Global Ratings, as they pursue growth while putting the economy on the path to a greener future.
About 40% of their spending will be on new businesses, such as green hydrogen, clean energy, semiconductors, electric vehicles, and aviation, S&P Global said in a report Monday. India’s largest business houses, including the Adani Group, Reliance Industries Ltd. and Tata Group, are set to spend about $350 billion in these sectors, analysts led by Neel Gopalakrishnan wrote.