India’s Adani Group plans to invest
more than $120 billion in capital expenditure over the next five
years across its core infrastructure businesses and emerging
growth platforms, its executives told Fortune India in an
interview on Tuesday.
Adani Group, one of India’s largest conglomerates, has been
expanding aggressively across infrastructure and energy, with
investments spanning ports, airports, power, renewables and
other sectors.
“Over the next five years, we plan to invest about $120
billion — over $20 billion a year — across all our businesses,”
Pranav Adani, a director at the group’s flagship firm Adani
Enterprises and the nephew of group chairman Gautam Adani, told
Fortune India.
Broadly, about 70% of these investments will be in energy,
about 20% in transport and logistics and 10% in business
adjacencies such as cement, copper, and aluminium, the report
said.
Adani Group did not immediately respond to Reuters’
request for comment.
The report said the group estimates these investments will
help double its asset base to ₹18 lakh crore ($191.64
billion) and generate core earnings, or earnings before
interest, taxes, depreciation and amortisation, of ₹2.6 lakh crore
to ₹3 lakh crore in five years.
Published on November 10, 2026
