Indian government backs data centers with over $1.2 billion in loans

India’s state-run infrastructure financier has approved loans exceeding 30 billion rupees ($313 million) for at least four data centers, highlighting the country’s strategic investment in artificial intelligence infrastructure. The loans, which total over $1.2 billion, underscore the government’s commitment to expanding its digital capabilities. The data centers are expected to support the nation’s growing demand for cloud computing and AI technologies. According to the financier’s spokesperson, the initiative aims to foster innovation and enhance India’s global competitiveness in the tech sector. This move aligns with the government’s broader plan to boost digital infrastructure and attract foreign investment. The funding is part of a larger effort to position India as a key player in the global AI landscape. The data centers are projected to create thousands of jobs and drive economic growth in the region.