India’s 7.8% Growth and Emerging Tech Sectors to Drive USD 30 Trillion Economy Target

Commerce and Industry Minister Piyush Goyal stated that India remains well-positioned to become a global hub for data centres, driven by strong interest from hyperscalers, international investors, and domestic companies.

Speaking to the media following a roundtable with stakeholders from the data centre industry, Goyal pointed to India's 7.8 percent economic growth in the April-June quarter. He noted that this performance reflects the country's resilience amidst global uncertainty, volatility, and active conflicts.

According to the minister, emerging sectors such as data centres, semiconductors, and artificial intelligence, alongside an expanding manufacturing base, will support economic expansion in the coming years. These elements are expected to help propel the country toward becoming a USD 30 trillion economy by 2047.

Discussing the data centre sector specifically, Goyal indicated that investments exceeding USD 200 billion could flow into the industry. Furthermore, he noted that some large hyperscalers, international investors, and participating Indian companies view this initial estimate as conservative, given the country's rising demand and capabilities.

The roundtable discussions also centered on enhancing the ease of doing business for the sector. Goyal mentioned that several issues previously raised by industry participants have already been addressed through coordination between central government departments and state authorities.

Addressing criticism from opposition parties regarding the recent economic growth figures, Goyal defended the data. He stated that the established compilation system has been utilized for years and argued that questioning the figures undermines the contributions of individuals driving the economy.

In addition to data centres, Goyal highlighted his recent engagements in Japan, where discussions covered sectors including semiconductors, shipbuilding and ship repair, artificial intelligence, automobiles and components, electronics, engineering, and pharmaceuticals. He reported strong enthusiasm among businesses and investors to expand manufacturing and technology capabilities in India.

"The projected investment inflows into data centres and emerging technologies highlight a structural shift in India's commercial landscape. As digital infrastructure scales up to support economic growth targets, technology-driven enterprises, startups, and ancillary service providers will find significant opportunities in the evolving ecosystem. Favorable regulatory coordination and ease of doing business will remain key catalysts for translating these investment projections into on-ground execution." — Dr. Shishir Gupta, Founder & CEO, StartupLanes