Corporate India is poised for a significant increase in capital expenditure, with S&P Global Ratings forecasting a potential doubling of investments to as much as $850 billion over the next five years. The report highlights key sectors like power, electricity transmission lines, airlines, and green hydrogen as the primary drivers of this spending surge. The top 100 listed companies in India, collectively generating $1 trillion in revenue and $150 billion in EBITDA, are expected to lead this expansion phase. The investments are fueled by strong balance sheets, robust operating cash flows, and supportive government policies. The emphasis is on meeting growing demands while avoiding excessive leverage. The report underscores the confidence in Corporate India's pursuit of growth opportunities, citing well-positioned companies in terms of lean balance sheets and a conducive economic environment. It emphasizes that the investments are aimed at scaling up operations and capitalizing on favorable government initiatives. Unless there are unforeseen execution challenges or negative macro developments, the investments are projected to enhance business scale while maintaining financial prudence. Overall, the sentiment towards hydrogen and other sectors in the Indian corporate landscape is positive, setting the stage for an optimistic growth trajectory.