India's 7.8% Growth Reflects Economic Resilience, Data Centres Could Attract USD 200 Bn: Goyal
He added that the country's data centre industry could attract investments of more than USD 200 billion.
Speaking to the media after a roundtable with stakeholders from the data centre industry, Goyal said India is well positioned to emerge as a major global data centre hub, reported ANI.
He said the latest growth figures demonstrate the resilience of the Indian economy despite ongoing geopolitical conflicts, global volatility and uncertainty.
Data Centres, Semiconductors To Drive Growth
Goyal said emerging sectors such as data centres, semiconductors and artificial intelligence (AI), along with India's expanding manufacturing base, would contribute to economic growth in the coming years.
These sectors, he said, would support India's ambition of becoming a USD 30 trillion economy by 2047.
Data Centre Industry Eyes USD 200 Billion Investment
On the data centre industry, Goyal said discussions with industry stakeholders indicated strong investment interest, with potential inflows of more than USD 200 billion.
He said large hyperscalers, international investors and Indian companies participating in the roundtable considered the estimate conservative, citing rising domestic demand, global investor interest and India's capabilities in the sector.
Government Focuses On Ease Of Doing Business
The minister said the discussions also focused on improving the ease of doing business for data centre companies.
Several issues raised by the industry during earlier consultations have already been addressed through coordination between the Centre and state governments, he said.
Centre, States Work To Strengthen Data Centre Ecosystem
Goyal said the government would continue to work with industry stakeholders to create an environment conducive to investment and help India strengthen its position as a global data centre hub.
Responding to criticism from opposition parties over the economic growth figures, Goyal said the methodology used to compile economic data has been followed for several years and defended the credibility of the reported growth numbers.
Japan Talks Focus On Technology And Manufacturing
Goyal also highlighted his recent engagements with businesses in Japan, saying discussions covered semiconductors, shipbuilding and ship repair, AI and data centres, automobiles and components, electronics, engineering and pharmaceuticals.
He said the interactions reflected strong interest among companies and investors across these sectors as India seeks to attract investment and strengthen its manufacturing and technology capabilities.
(KNN Bureau)
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