Piyush Goyal sees $200 billion data centre investment opportunity, says sector can power India’s $30 trillion economy

Union Commerce and Industry Minister Piyush Goyal on Tuesday held a meeting with stakeholders of the data centre industry and discussed ways to further promote ease of doing business for the sector.

"We did a round table discussion with stakeholders related to the data centre industry on ease of doing business to promote data centres in a big way because undoubtedly, India is the world's best location to set up data centres," he told reporters after the meeting here.

The minister said that the data centres, semiconductor industries, artificial intelligence, and the increased manufacturing base are all elements that will power India's growth in the years to come and take it to greater heights and help the country achieve a USD 30 trillion economy by 2047.

"Nothing less than USD 200 billion can be seen coming into the data centres industry," he said.

Participants, including hyperscalers, international investors and Indian companies that are looking to invest in the sector, indicated that huge potential is there in the country to attract investments in the segment.

When asked to comment on the GDP figures, he stated, "We are proud of the people of India who, even in these very unnerving and difficult times, with two wars raging and global uncertainty and volatility, have given India 7.8 per cent growth in the quarter from April to June 2026," Goyal said.

Taking a jibe at the Congress over its criticism of the data, Goyal said, "Angoor khatte hain, mujhe lagta hai." "I think it is the same system that has been preparing this data for years. I think it is an insult to the people of India who are working hard and achieving such fabulous results," the Union minister said.

The Congress on Tuesday termed the latest GDP numbers released by the government as "statistical gymnastics" and said the Make in India initiative has achieved very little, but the Modi government's signature "Fake in India" scheme continues unabated.

He said that this is not an attack on the government, but on the wisdom, hard work and sincerity of 1.4 billion Indians.

"It is their (Indian people) capability and hard work that are making India's economy grow rapidly," he added