New Delhi, June 10 -- Corporate India is gearing up for a massive investment cycle, with capital expenditure expected to double to as much as $850 billion over the next five years, according to a new report by S&P Global Ratings.

The credit rating agency said that key sectors-including power, electricity transmission, airlines, and green hydrogen-will be at the forefront of this capex surge.

Buoyed by solid balance sheets, strong cash flows, and government support, these firms are entering a significant expansion phase.

S&P noted that unless marred by execution lapses or adverse macroeconomic shifts, the upcoming investments are likely to scale up operations without materially increasing leverage.

"Corporate India is chasing growth op...