How the economy’s next phase of growth will be driven by broad-based capital expenditure
India's capital expenditure upcycle is evolving beyond mere government spending into a broad national investment phase. Driven by energy security, defence manufacturing, industrial supply chains, and infrastructure, this diversified growth aims to reduce import dependence and boost domestic capacity. Projections indicate a significant rise in total capex to $2.2 trillion by 2030-31, with increased private sector involvement. This robust cycle is underpinned by healthy corporate balance sheets, strong banking, and supportive structural reforms like PLI schemes. If execution remains strong and reforms continue, India is poised for an unprecedented investment expansion, fostering sustained growth and global competitiveness.
LiveMint · Upasana Chachra · Jun 21, 2026 at 10:10 AM