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India expects $3.4 billion FDI in data center infrastructure: Anuj Puri

Data centers are to become the next big segment after warehousing and nearly $3.4 billion foreign investment is expected in this space in the coming 3-4 months, a top official said

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Press Trust of India  |  Kolkata 

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Data centers are to become the

next big segment after warehousing and nearly USD 3.4 billion foreign investments is expected in this space in the coming 3 -4 months, a top official of a real estate services company said on Wednesday.

India is the largest consumer of data, the government had suggested that data centers of the world be built in India, thereby making all the data majors to consider investment in the country, he said.

"Nearly USD 3.4 billion foreign investments is expected in this space in the coming 3-4 months," Anarock Group chairman Anuj Puri said at the ICC organised 'Build East Conclave'.

Puri said at the initial phase of the pandemic the sector stalwarts were sceptical of any short-term revival but current statistics are more optimistic, given that 1.5 crore square feet of new leasing has been witnessed in the office segment and it is expected that the current year statistics will move up to 2.4-2.5 crore sq ft which is quite encouraging.

Residential sales have also improved in Q2 of the current financial year as compared to Q4 of last financial year, he said.

Ambuja Neotia Group chairman Harsh Neotia said hospitality will need more time to recover but residential was better as the economy moves toward normalcy.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, November 04 2020. 19:54 IST
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