As India steadily approaches its $5 trillion economic dream, infrastructure is both a crucial enabler and a stubborn constraint. Catalysed by government initiatives such as the ?111 lakh crore National Infrastructure Pipeline (NIP) and Gati Shakti, transformative economic growth is on the horizon. But an equally big innovation is happening — the emergence of asset-light modes.
Thus they offer a smart, scalable model for deploying infrastructure focused on leasing, sharing and digital enablement. India's leasing market, valued upwards of $5 billion today, is expected to grow at a healthy CAGR of 15–18% over the next five years, underpinned by the desire for agility and efficiency in capital allocation.
Traditional infrastructure development is capital-intensive and often characterized by underutilization of resources — for example, utilization of equipment rates in India averages around 35–40%, compared to 65–70% in more mature economies — and the act of leasing the service instead of the asset can liberate a significant value (turning CapEx into OpEx). Studies indicate almost 40 per cent of infrastructure cost overruns in India are because of delays in asset acquisition, which is an area where leasing models are primed to make a difference.
How Enterprises & Govt Can Together Win with Asset-Light Models
The synergy between enterprises and the government can play a pivotal role in this transformation. For instance, public-private equipment pools can enable infrastructure projects like highways and smart cities to lease rather than purchase expensive machinery, ensuring faster rollouts and optimized capital use.
In the electric mobility sector, India’s goal of achieving 30% EV adoption by 2030 will require over two million public charging stations — a target that leasing models can support by reducing entry barriers for private investors. Similarly, telecom infrastructure can benefit immensely from leasing, especially with the rollout of 5G and the expansion of BharatNet.
Already, tower sharing has saved the telecom industry over ?25,000 crore, highlighting the potential of shared asset models. In the realm of smart cities, municipalities can lease intelligent systems — from surveillance to waste management — through PPPs, encouraging innovation and cost-efficiency.
Enterprise Imperatives: Rethinking Ownership for Agility
For enterprises, capitalizing on asset-light strategies calls for a strategic pivot. Instead of focusing solely on ownership, businesses should assess investments based on total cost of ownership (TCO) and return on investment (ROI).
Partnering with asset leasing firms not only enhances financial agility but also ensures access to the latest technologies without long-term capital commitments. Moreover, integrating digital twin technologies powered by IoT, AI, and blockchain enables real-time tracking, predictive maintenance, and performance optimization, further increasing asset productivity and lifespan.
Policy Tailwinds: Enabling Incentives from Centre and States
Policy support is also gaining momentum. The Vehicle Scrappage Policy encourages fleet renewal by making leased, fuel-efficient vehicles more accessible, while the National Monetization Pipeline (NMP) aims to unlock ?6 lakh crore by leasing out underutilized public infrastructure to private entities. States like Tamil Nadu and Gujarat are leading the way with capital subsidies and GST waivers for leased industrial assets, further strengthening the case for widespread adoption of asset-light frameworks.
Access Over Ownership is the Future
Ultimately, asset-light models represent more than a financial strategy — they are systemic solutions that can reduce waste, accelerate development, and democratize infrastructure access. For India to achieve its bold infrastructural ambitions — from building 100 smart cities to electrifying transport and expanding digital connectivity — collaboration between the public and private sectors is essential. The future will not be defined by who owns the most, but by who enables the most access. In this paradigm, leasing is not merely an option; it is the backbone of a resilient, efficient, and future-ready India.
