Using a distinctive set of data from 2006 to 2018, this study inquires into the various factors of Public‐Private Partnerships (PPPs) in infrastructure projects. Sixteen exogenous variables from extant literature are used to identify significant factors to forecast the future flow of PPPs in the different states of the Republic of India. Two measures of PPP infrastructure projects that is, cost of the project (log value) and the percentage of total project cost are used as endogenous variables. The used data set is associated with a total of 62 PPP projects financed in 10 states of the Republic of India. Three alternative methods namely, OLS, FMOLS, and DOLS are used to check the consistency of the findings. According to three techniques of unit root tests, the data series of different variables are found to be stationary at the first difference. Johansen's cointegration technique reflects that there is cointegration in both the proposed models for the PPPs. Further, the empirical findings of the study reflect that the size (population), capital and revenue budgets & development expenditures have a positive relationship with the dependent variables. On the other side, some of the exogenous variables namely, regional disparities, GDP, FDI, political stability, debt, and fiscal indicator showcase an adverse effect on the flow of the PPP projects. The present study shall be lucrative for the state governments in addition to the private parties involved in the PPP projects. The identified significant variables of the present study will be useful to forecast the upcoming number of PPP projects in the various Indian States.