The Hidden Beneficiaries of India's Ageing Infrastructure

Everyone is waiting for new infrastructure projects. The bigger opportunity may be maintaining the old ones. As India's roads, bridges, refineries, factories and power plants age, spending on inspections, repairs, strengthening and retrofitting is set to rise. Maintenance capex is recurring, less cyclical and often carries better margins than new construction. Companies like

, , , , and could quietly benefit as India's infrastructure enters its maintenance cycle.