India’s top corporate companies could double their capital expenditure over the next five years, says a S&P Global Ratings report. The report further suggests that the capex growth by the leading Indian companies will be primarily driven by revenue and profit growth.

S&P projects India’s corporate capital spending to reach about $800 billion by FY30, largely driven by infrastructure investments.

“Improving infrastructure, political stability, and lean corporate balance sheets are propelling large expansion plans that will widen revenue bases for Indian corporates,” said Neel Gopalakrishnan, S&P Global Ratings credit analyst.

He added that the supportive government policies are helping the capex from the private sector. The policies, such as domestic self-sufficiency, more expor

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