India's private capex pipeline hits ₹99.7 lakh crore, up 39% (opens the source in a new tab)
- A Union Bank of India report puts India's outstanding private Capex Capital expenditure: money a company spends on long-lived things like buildings, chips and data centres. pipeline at ₹99.7 lakh crore in September 2026, up 39% in a year and 4.1 times its March 2014 level.
- Projects are getting bigger rather than more numerous: the count rose only 50%, to 5,311, while the average project grew 2.7 times. Manufacturing and electricity hold 74%; services grew fastest.
- Maharashtra alone holds 29%, up from 9% in 2014, and the top five states 68%. The bank warns announcements may outrun execution, and transmission lags generation.
- ₹99.7L cr
- Private capex pipeline
- 29%
- Share in Maharashtra
Why it matters India's investment revival is finally showing up in private order books, but on a narrow base. Lenders should watch where the money goes: fewer, larger bets, one state, two sectors.
Other side A pipeline is a list of intentions, not spending. Big tickets in power and IT services may simply follow demand, and states that already have land, power and ports will naturally draw more.