India’s InvIT Market Set to Triple, Hitting $258 Bn by 2030

20 Aug 2025 CW Team

Currently, India has five listed Real Estate Investment Trusts (REITs) and seventeen listed InvITs, together accounting for a combined market capitalisation of $33.2 billion. While REITs continue to build momentum, InvITs have taken the lead, driven by large-scale infrastructure diversification, capital recycling, and robust policy support.

Global & Domestic Context

Globally, over 1,000 listed REITs and InvITs command a combined market capitalization of $3 trillion.
In India, InvITs’ AUM of $73 billion is set to expand to nearly $258 billion by 2030, fueled by:
Institutional investor allocations
Greater participation from domestic pension and insurance funds
Expanded foreign inflows
Rising retail investor awareness

Knight Frank India’s Outlook

Shishir Baijal, Chairman & Managing Director, Knight Frank India, said:

“India’s InvIT platform is at the threshold of transformative growth. From $73 billion today, we are set to scale to $250–265 billion by 2030, marking a 3.5x expansion in less than five years. This will bridge critical infrastructure financing gaps while opening new pathways for global and domestic capital. The challenge — and opportunity — lies in broadening participation across pension, insurance, and retail investors, while maintaining strong transparency and governance standards. InvITs are poised to become the cornerstone of India’s infrastructure financing ecosystem and a global capital magnet.”

Policy & Infrastructure Drivers

Government Capex: Central government spending on core infrastructure rose from $12 billion in FY 2015 to $75 billion in FY 2025, a 6.2x increase, lifting its GDP share from 0.6 per cent to 2.0 per cent.
$7 Trillion Economy Goal: Achieving India’s projected $7 trillion GDP by 2030 will require $2.2 trillion in infrastructure investment, demanding strong private sector participation alongside public spending.
Financing Shift: While greenfield projects carry higher risks, brownfield assets provide safer investment opportunities, with InvITs enabling efficient capital recycling and timely development.

The Road Ahead

The government continues to introduce reforms to channel long-term domestic and foreign capital into infrastructure. With governance credibility and investor confidence strengthening, InvITs are set to play a pivotal role in bridging India’s financing gap, accelerating growth, and cementing the country’s status as a global infrastructure investment hub.

India’s Infrastructure Investment Trusts (InvITs) are on track for exponential growth, with Assets Under Management (AUM) projected to surge 3.5x from $73 billion in FY 2025 to $258 billion by 2030, according to Knight Frank India’s latest report. This positions India as one of Asia’s fastest-growing infrastructure investment destinations and a key magnet for global capital.Currently, India has five listed Real Estate Investment Trusts (REITs) and seventeen listed InvITs, together accounting for a combined market capitalisation of $33.2 billion. While REITs continue to build momentum, InvITs have taken the lead, driven by large-scale infrastructure diversification, capital recycling, and robust policy support.Global & Domestic ContextGlobally, over 1,000 listed REITs and InvITs command a combined market capitalization of $3 trillion.In India, InvITs’ AUM of $73 billion is set to expand to nearly $258 billion by 2030, fueled by:Institutional investor allocationsGreater participation from domestic pension and insurance fundsExpanded foreign inflowsRising retail investor awarenessKnight Frank India’s OutlookShishir Baijal, Chairman & Managing Director, Knight Frank India, said:“India’s InvIT platform is at the threshold of transformative growth. From $73 billion today, we are set to scale to $250–265 billion by 2030, marking a 3.5x expansion in less than five years. This will bridge critical infrastructure financing gaps while opening new pathways for global and domestic capital. The challenge — and opportunity — lies in broadening participation across pension, insurance, and retail investors, while maintaining strong transparency and governance standards. InvITs are poised to become the cornerstone of India’s infrastructure financing ecosystem and a global capital magnet.”Policy & Infrastructure DriversGovernment Capex: Central government spending on core infrastructure rose from $12 billion in FY 2015 to $75 billion in FY 2025, a 6.2x increase, lifting its GDP share from 0.6 per cent to 2.0 per cent.$7 Trillion Economy Goal: Achieving India’s projected $7 trillion GDP by 2030 will require $2.2 trillion in infrastructure investment, demanding strong private sector participation alongside public spending.Financing Shift: While greenfield projects carry higher risks, brownfield assets provide safer investment opportunities, with InvITs enabling efficient capital recycling and timely development.The Road AheadThe government continues to introduce reforms to channel long-term domestic and foreign capital into infrastructure. With governance credibility and investor confidence strengthening, InvITs are set to play a pivotal role in bridging India’s financing gap, accelerating growth, and cementing the country’s status as a global infrastructure investment hub.

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