India on Track to Become Global Data and AI Hub with New Budget Incentives
Prime Minister Narendra Modi positions India as a future global hub for digital infrastructure and artificial intelligence. With newly announced tax incentives, India aims to attract global tech companies and expand its data centre capabilities, laying a foundation for a burgeoning AI ecosystem and job creation.
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- India
In a recent interview, Prime Minister Narendra Modi championed India as a burgeoning global centre for digital infrastructure and artificial intelligence. The Indian government, through its latest Budget, is offering tax incentives to accelerate investments in data centres, thereby positioning the nation competitively on the global stage.
International tech giants like Amazon, Google, and Microsoft stand to benefit significantly from these incentives, potentially receiving tax breaks on global cloud revenues routed through Indian data centres until 2047. The initiatives aim to spur AI investment and build advanced infrastructure, ultimately generating employment opportunities.
Modi emphasized the need for India to transition from digital adoption to digital leadership, leveraging its scale and diversity as advantages. With India's robust Data Protection Act and talented workforce, the nation is striving for a leadership role in the AI and data-driven global economy.
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