It is starting to, and the buildout is real, not just announcements. The world is short of compute and power - global data centers run about 97% full (leased before they are finished), and the big US tech firms are guided to spend ~$700bn in 2026 and still cannot keep up. India's edge is not cheap labor; it is industrial build-muscle for gigawatt-scale capacity and speed to energized power - which is why the players are infrastructure conglomerates: Adani, Reliance, Bharti Airtel and L&T.
The commitments are large: Google $15bn for a 1 GW Vizag hub (its largest outside the US, built to serve the world), Adani $100bn by 2035, Reliance $110bn over 7 years at Jamnagar, Microsoft $17.5bn (Hyderabad live mid-2026), AWS $12.7bn by 2030. Policy is behind it: a 2047 tax holiday for foreign cloud firms serving the world from India, plus the IndiaAI Mission and a safe-harbour scheme - the same combination that powered the software wave in the 2000s. India's realistic win is the huge serving-and-inference load (not frontier training). The swing risks: US-India relations and chip access, water and heat, and land approvals.
Full 15-slide analysis with sources: https://www.tigzig.com/post/india-next-tech-wave-ai-data-centers-may2026. India macro data + the growth red flags: https://www.tigzig.com/tremor and https://www.tigzig.com/agents-faq/is-india-growth-story-in-trouble.
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