Reliance Industries Plans $60 Billion Investment Over 10 Years.

Reliance Industries Ltd (RIL), India’s largest firm with operations spanning oil refining and retail, plans to invest $60 billion over the next decade, according to estimates by Morgan Stanley. This move positions RIL alongside conglomerates like Tata, JSW, and Adani, all of which have also announced significant investment plans for the coming years.

Last month, the JSW Group revised its investment target to $70 billion by 2030, focusing on sectors such as ports, steel, and infrastructure. This figure includes a $5 billion investment in electric vehicles in Odisha, announced earlier this year. Meanwhile, the Tata group has outlined plans to invest $120 billion, and Adani group entities intend to inject $100 billion into projects primarily involving airports, sea ports, and roads.

Ultratech, part of the Aditya Birla group, has committed to a capex of Rs. 32,400 crore ($3.88 billion) over the next three years. RIL, however, declined to comment specifically on the report but has indicated its intention to invest in new energy, renewable energy, and telecom sectors in the coming years.

During the shareholders’ meeting last year, RIL Chairman Mukesh Ambani highlighted that the company had already invested over $150 billion in the past decade, surpassing other Indian companies and competing with global leaders in cumulative investments. Ambani also outlined RIL’s strategy to transition most of its energy footprint in connectivity and digital services to green energy over the next five years, emphasizing both environmental benefits and cost efficiency.

Industry leaders anticipate that the upcoming Budget will boost government spending on infrastructure, facilitating further corporate investments. Shashi Kiran Shetty, Chairman of Allcargo Group, expressed optimism about India's economic outlook, citing robust macroeconomic conditions, corporate earnings, and strong domestic demand.

According to CRISIL estimates, the momentum in revenue growth for capital goods players will be supported by investments in productivity-linked schemes and emerging sectors such as electric vehicles and data centers. These sectors, which accounted for 10% of investments in FY24, are expected to grow to 25% by FY28, driven by production-linked incentive schemes and increasing demand for automation, digitization services, and charging networks.

BS