India's finance minister unveiled a budget proposal that grants foreign cloud providers a tax exemption on revenues from AI workloads run in Indian data centers and sold abroad through 2047. The plan also includes a cost‑plus safe harbour for Indian data‑center operators, expanded incentives for electronics and semiconductor manufacturing, and support for rare‑earth mineral development. Major global tech firms have already pledged billions to build AI‑focused data‑center campuses in the country, while domestic projects are also scaling up. The initiative aims to position India as a long‑term hub for AI infrastructure despite challenges such as power reliability and water scarcity.
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