Indian conglomerates are preparing for a significant investment wave, with plans to commit around USD 800 billion over the next decade. This marks a substantial increase compared to the previous decade, demonstrating a strong push towards growth and diversification. Approximately 40% of this investment will be directed towards new and emerging sectors, including green hydrogen, clean energy, aviation, semiconductors, electric vehicles, and data centers. Leading conglomerates like Vedanta, Tata, Adani, Reliance, and JSW are at the forefront, collectively aiming to invest about USD 350 billion in these growth areas. The report highlights that a considerable portion of the projected spending will focus on new businesses, emphasizing the shift towards sustainable and innovative sectors. While some major conglomerates are venturing into new sectors, others like Birla, Mahindra, and Hero are expected to continue investing in their existing business areas to drive scale and profitability. S&P Global Ratings projects that investments in established businesses could range between USD 400-500 billion over the next decade if companies maintain their current pace. This strategic focus on core operations is seen as crucial for mitigating risks associated with the substantial investment commitments. As debt levels are anticipated to rise to support these plans, companies are urged to consistently reinforce their core businesses to uphold credit profiles. Effective execution of growth strategies is deemed essential to prevent any underperformance that could negatively impact credit metrics.