Soumya Kanti Ghosh, Group Chief Economist at the State Bank of India, identified the core traits that make Indian businesses attractive to investors.
These guidelines arrive as Indian companies seek to attract capital and maintain stability amid global economic uncertainty. The criteria provide a roadmap for firms looking to scale within a competitive emerging market.
Speaking at the NDTV Emerging Business Conclave, Ghosh said that investability is driven by stronger balance sheets, diversification, and a commitment to self-reliance. He said that these fundamentals allow companies to withstand volatility while pursuing expansion [1, 2].
Ghosh highlighted specific sectors that are currently positioned for significant growth. He identified defence, aerospace, renewables, and data centres as key areas for investment [1, 2]. These sectors align with broader national goals of technological advancement, and energy transition.
Regarding the broader economic landscape, India continues to be one of the fastest-growing economies in the world [2]. Ghosh said a projected growth of eight% for the first quarter of the 2027 fiscal year [2].
The economist said that the shift toward self-reliance is not merely a policy goal but a strategic advantage for businesses. Companies that reduce dependency on external supply chains, and diversify their revenue streams, are more likely to secure long-term funding [1, 2].
This focus on infrastructure and high-tech sectors suggests a pivot toward capital-intensive industries. By prioritizing balance sheet health, Ghosh said businesses can better navigate the risks associated with these large-scale projects [1, 2].
“Investability is driven by stronger balance sheets, diversification, and a commitment to self-reliance.”
The emphasis on self-reliance and specific high-tech sectors reflects India's strategic push to decouple from volatile global supply chains. By prioritizing balance sheet strength over aggressive, debt-fueled growth, the State Bank of India is signaling a preference for sustainable scalability. This approach suggests that future investment will flow toward industries that support national security and digital infrastructure, rather than purely consumer-driven markets.
