The National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI), Government of India, is conducting the Forward-Looking Survey on Private Corporate Sector CAPEX Investment Intentions (CAPEX 2026) during the period of October to December 2026. The survey is aimed at generating comprehensive and timely information on capital expenditure undertaken and planned by large private corporate sector enterprises, thereby providing important inputs for understanding emerging investment trends in the Indian economy.

1. Objective, Coverage and Method of Data Collection

The primary objective of the CAPEX Survey is to collect information on capital expenditure undertaken in the recent financial years, provisional capital expenditure in the current financial year and investment intentions for the forthcoming financial year. The information covers capital expenditure across different asset groups and industries, along with aspects relating to investment strategy, objectives, sources of financing, etc.

The survey covers selected large private corporate sector enterprises from different sectors of the economy. The survey frame is prepared using information relating to active enterprises registered with the Ministry of Corporate Affairs (MCA), subject to prescribed eligibility and turnover criteria. The survey is conducted under the provisions of the Collection of Statistics Act, 2008.

Data are collected through a dedicated and secure web portal, enabling enterprises to self-compile and submit their responses online. The portal provides facilities to assist respondents in understanding the questionnaire, concepts and definitions. The present survey also provides supporting digital resources, including an instruction manual and video guide for portal navigation and self-reporting.

2. Earlier CAPEX Surveys – Key Findings and Outcomes

The National Statistical Office (NSO) conducted the inaugural Forward-Looking Survey on Private Sector CAPEX Investment Intentions (CAPEX 2024) between November 2024 and January 2025.

From this first ever CAPEX survey, the results show that during 2024-25 among the principal activity categories, ‘manufacturing’ accounts for the largest share of aggregate expenditure (43.80%). This is followed by ‘information and communication’ (15.60%) and ‘transportation and storage’ (14.00%).

 

The detailed results of the CAPEX survey are available in the CAPEX 2024 Booklet published by MoSPI:

CAPEX 2024 – Booklet on Findings of the Forward-Looking Survey

The second CAPEX survey was conducted during October–December 2025, the findings of this latest CAPEX survey (CAPEX 2025), indicated that of the provisional aggregate capital expenditure in 2025-26 among the principal activity categories, ‘manufacturing’ accounts for the largest share of aggregate expenditure (50.17%), amounting to ₹5,73,900 crore. This is followed by ‘information and communication’ (16.38%; ₹1,87,395 crore), ‘electricity, gas, steam and air conditioning supply’ (8.96%; ₹1,02,448 crore), and ‘transportation and storage’ (5.55%; ₹63,517 crore).

In terms of the proposed scale of CAPEX allocation, nearly 21.16% of enterprises planned to invest more than 80% of their total CAPEX in robotics while the around 78.84% stated that less than 20% of their total CAPEX would be devoted to robotics investments.

As per the estimates obtained from the latest CAPEX 2025 survey (2025-26), the actual CAPEX incurred during 2024-25 by the panel of enterprises was ₹173.5 crore per enterprise, resulting in an overall realisation ratio (RR) of 96.3%, indicating that actual expenditure was broadly in line with the investment intentions at the aggregate level.

From the data collected through the CAPEX survey-2025, the aggregated CAPEX figures (₹ crore) based on data reported by a fixed panel of 3,819 enterprises covering the years 2024-25, 2025-26 and 2026-27 show a modest growth of 1.9% over the actual CAPEX reported by these enterprises in 2024-25. This is given in graph below:

PANEL Estimates on Aggregate CAPEX (in crore)

The detailed results of the CAPEX survey are available in the CAPEX 2025 Booklet published by MoSPI:

CAPEX 2025 – Booklet on Findings of the Forward-Looking Survey

3. Launch of CAPEX 2026

Building upon the experience and outcomes of the earlier two rounds of CAPEX survey, in October 2026, NSO is launching the third CAPEX survey to further strengthen the availability of timely information on private corporate investment activity and future investment intentions.

4. Salient Features of CAPEX 2026

The present survey incorporates several features intended to improve the quality, relevance and usability of the information collected as well as to improve the user interface with the portal for submitting information.

Broad coverage of information in the survey:

• Collection of information on past, current and future capital expenditure
• Information on CAPEX across different asset groups and industry sectors
• Information on investment intentions and investment strategies
• Investment in green energy and robotics
• Information on the objectives of investment, including capacity expansion/upgradation and other investment purposes
• Information on sources of financing of CAPEX

Features of the web-portal:

• Collection through a secure, dedicated web portal
• Facility for self-compilation and online submission by enterprises
• Digital assistance through an instruction manual, video guide and AI chatbot to facilitate portal navigation and reporting
• Bilingual questionnaire

5. Importance of Timely Response

The quality and usefulness of the estimates generated from the CAPEX Survey depend significantly on the coverage and timely response of the selected enterprises. Information furnished by individual enterprises contributes to the compilation of aggregate indicators of private corporate investment and helps in understanding the direction and magnitude of investment activity in different sectors.

Timely submission also enables NSO to undertake the necessary validation and processing of the information within the prescribed survey schedule, thereby facilitating the timely availability of reliable statistics for policymakers and other stakeholders.

6. Appeal to the Industry

NSO, MoSPI, therefore, appeals to all selected private corporate sector enterprises to extend their full cooperation and participate actively in the CAPEX 2026 Survey. Enterprises are requested to furnish complete, accurate and timely information through the designated web portal.

Enterprises are assured of the confidentiality of their individual data, and that unit-level information will not be disseminated. While disseminating the survey results, care is taken not to release any information, which could identify the enterprise that has furnished it. While releasing the results, adequate measures are applied to prevent the publication or disclosure of any information deemed confidential. To protect the confidentiality of CAPEX investment plans of individual enterprises, unit-level data of CAPEX survey are not disseminated.

NSO, MoSPI appreciates the cooperation of all selected enterprises in making CAPEX 2026 a successful statistical exercise.

Booklet available in MoSPI website: https://www.mospi.gov.in/ Scan QR code to access MoSPI Publications/ Reports

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Samrat

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