India offers zero taxes through 2047 to lure global AI workloads [Yahoo! Finance]
Brookfield Asset Management Inc. (BAM)
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Source: Yahoo! Finance
the country if they run those workloads from Indian data centers — a bid to attract the next wave of AI computing investment, even as power shortages and water stress threaten expansion in the South Asian nation. On Sunday, India's finance minister Nirmala Sitharaman announced (PDF) the proposal in the country's annual budget, offering a tax holiday — effectively zero taxes — on revenues from cloud services sold outside India if those services are run from data centers in the country. Sales to Indian customers would have to be routed through locally incorporated resellers and taxed domestically, she told parliament. The budget also proposes a 15% cost-plus safe harbour for Indian data-center operators providing services to related foreign entities. The announcement comes as U.S. cloud giants including Amazon, Google, and Microsoft race to add data-center capacity worldwide to support the surge in artificial-intelligence workloads, with India emerging as an increasingly attractive
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