Union Minister Piyush Goyal pitches India as global data centre Hub

Commerce and Industry Minister Piyush Goyal today pitched India as a compelling destination for data centres saying the country is ready to work with Japanese companies to develop the sector and has already received investment commitments of worth 200 billion US dollars from large global hyperscalers. Mr Goyal said this during his meeting with Japanese Minister of Economy, Trade and Industry Akazawa Ryosei in Tokyo today. Mr Goyal, said the partnership with Japan could be summarised around four pillars of increasing trade, strengthening technology cooperation, boosting investments and promoting tourism. 

Earlier in the day, Mr. Goyal addressed representatives of Japanese semiconductors and artificial intelligence firms in Tokyo. Speaking on the occasion, the Minister said, the government is working on a framework to exempt high-tech sector companies, including from Japan, from mandatory Bureau of Indian Standards (BIS) certification for equipment and components needed to set up manufacturing facilities in India. He said, the framework could provide exemptions at the company, industry, product or project level, depending on the requirements. He said, the objective is to ensure timely availability of equipment, goods and services for high-tech companies setting up manufacturing operations in India and support the government’s Make in India initiative. Mr. Goyal said, India is a large and growing electronics market and its semiconductor demand is expected to grow up to 150 billion US dollar by the year 2032. 

Mr. Goyal also held discussions with executives from Japan’s leading financial institutions to boost long-term investment and strengthen India-Japan economic ties. Mr. Goyal highlighted the strength and resilience of the Indian economy, noting that India recorded 7.7 percent growth last year despite global uncertainties and is working toward becoming a 30 trillion dollar economy by the year 2047.