India's Third Semiconductor Plant To Start In July, Fourth By November Or December

He said the government's focus extends to data centres and digital infrastructure and that a policy decision to exempt data centres from taxation until 2047 has been designed to spur investment. The minister stated the measure has encouraged nearly USD 200 billion in commitments and that the tax regime aims to make India an attractive location for large-scale digital infrastructure projects. He added that the policy provides long-term certainty for investors and that officials are working to ensure implementation supports rapid expansion.

On artificial intelligence (AI) Mr Vaishnaw said employment opportunities in the field are increasing at about 15-20 per cent annually and that private sector commitments are strengthening the domestic technology base. He mentioned that Google has agreed to manufacture AI servers in India and that such moves will help build supply chains and encourage allied manufacturing. The minister linked investment in AI hardware to broader goals of technological self-reliance and noted that skills development and infrastructure remain priorities to absorb new jobs.

He addressed global economic uncertainty and said India had managed challenges arising from geopolitical conflicts and energy price volatility through prudent policymaking. The minister called on industry and citizens to prioritise exports and reduce avoidable imports to conserve foreign exchange reserves and to support resilience. He expressed confidence that the economy would continue to grow at six to eight per cent annually while keeping inflation under control and said India would emerge favourably from current turbulence.