"The nation's finance minister Nirmala Sitharaman yesterday announced the schemes in the nation's annual budget, which included a proposed tax holiday - extending until 2027 - for "any foreign company who provides services to any part of the world outside India by procuring datacenter services in India." Sitharaman said the measure recognizes "the need to enable critical infrastructure and boost investment in datacenters," and will be available if services are procured through an Indian reseller."
"Two other measures in the budget are also notable. One suggests a five-year tax break for companies that import manufacturing equipment for use by an Indian company, a plan that would help to accelerate development of the nation's high-tech manufacturing sector. The other is a new lure for skilled workers who move to India, by exempting any income they earn offshore from Indian taxes. Only workers who stay in India for five years will get the tax break."
India will offer multi-year tax incentives to attract cloud and tech investment. A proposed tax holiday, extending until 2027, applies to any foreign company providing services to any part of the world outside India by procuring datacenter services in India, provided services are procured through an Indian reseller. The measure aims to enable critical infrastructure and boost investment in datacenters, while operators and customers must consider legal implications of storing data in India. The budget also proposes a five-year tax break for companies importing manufacturing equipment for Indian companies and exempts offshore income for skilled workers who relocate to India for five years.
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