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Reliance Industries to invest $60 bn in 10 years estimates Morgan Stanley
Industry News- Jul 05,24
The Tata group has announced plans to invest $120 billion while firms in the Adani tent will put in $100 billion in the next one decade mainly to build airports, sea ports, and roads.
Reliance Industries Ltd (RIL), India’s leading firm in oil refining and retail, is set to invest $60 billion over the next decade, as per a Morgan Stanley report. This places RIL alongside major conglomerates like Tata, JSW, and Adani, which have also announced significant investments for the upcoming decade.
RIL's investments will focus on new energy, renewable energy, and telecom. JSW Group has revised its investment target to $70 billion by 2030, with $5 billion allocated for electric vehicles in Odisha. Tata Group plans to invest $120 billion. Adani Group will invest $100 billion primarily in airports, sea ports, and roads. Ultratech, owned by Aditya Birla Group, will invest Rs 324 billion over the next three years. RIL has declined to comment on the report. However, in last year's shareholders' meeting, Chairman Mukesh Ambani stated that RIL had invested over $150 billion in the past decade, surpassing any other Indian company and competing with global leaders.
Over the next five years, RIL aims to transition its energy footprint to green energy, emphasizing eco-friendliness and cost efficiency. Industry leaders expect the upcoming Budget to boost government infrastructure spending, aiding corporate investments. Shashi Kiran Shetty, chairman of Allcargo Group, highlighted the favourable macroeconomic conditions, corporate earnings, and robust domestic demand.
According to CRISIL, revenue growth for capital goods players will be driven by investments in productivity-linked schemes and emerging sectors like electric vehicles and data centers. These sectors, which accounted for 10% of investment in FY24, are projected to reach 25% by FY28.
(Source: Business Standard)
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