Indian conglomerates are gearing up to boost capital spending to US$800 billion over the next decade, significantly higher than in the previous years. This surge in investment is part of a strategic move towards sustainable growth and greener initiatives. Approximately 40% of this spending is earmarked for ventures in emerging industries like green hydrogen, clean energy, semiconductors, electric vehicles, and aviation. Major players such as the Adani Group, Reliance Industries Ltd, and Tata Group are spearheading this drive with an estimated investment of around US$350 billion. The overall objective is to reduce India's reliance on fossil fuels and steer the economy towards a more sustainable path, in line with the government's vision to achieve net zero emissions by 2070. However, while the conglomerates are poised for market dominance and enhanced profitability, there are inherent risks associated with this ambitious expansion plan. The reliance on borrowed capital and the uncertainty surrounding the success of new technologies could pose challenges. S&P Global Ratings has highlighted the importance for these companies to strengthen their core operations amidst rising debt levels to safeguard their credit standings. Despite the potential pitfalls, this shift towards sustainable investments signals a positive trajectory for India's economic landscape and environmental commitments.