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Davos 2024: Global Giants Bet Big on India's Tech & Infrastructure Boom

At the World Economic Forum in Davos, Union Minister Ashwini Vaishnaw reported a strong display of global confidence in India's growth and technology sectors. Major corporations like Maersk and Honeywell are deepening engagements in logistics, railway modernization, and manufacturing expansion. Significant commitments were noted, including Google's $15 billion AI data centre project and Temasek's plans to increase its presence in India's infrastructure and deep-tech. The minister emphasized India's comprehensive approach to building a complete semiconductor ecosystem and its positioning as a reliable, values-based partner in global technology supply chains.

Key Points: Global Firms Show Strong Confidence in India at Davos: Vaishnaw

  • Maersk enhancing India's logistics & semiconductor supply chain
  • Honeywell expanding railway & manufacturing ops
  • Google investing $15B in AI data centre
  • Temasek deepening India investments
  • India building full semiconductor ecosystem
2 min read

Global companies signal strong confidence in India at Davos: Ashwini Vaishnaw

Union Minister Ashwini Vaishnaw highlights major investment commitments from Maersk, Honeywell, Google & Temasek in India's logistics, AI, semiconductors & infrastructure at Davos.

"Global confidence in India's growth trajectory and technology ambitions was strongly evident at the World Economic Forum. - Ashwini Vaishnaw"

Davos, January 22

Global confidence in India's growth trajectory and technology ambitions was strongly evident at the World Economic Forum Annual Meeting in Davos, Union Minister for Electronics and Information Technology Ashwini Vaishnaw said, highlighting deepening engagement with global corporations and investors across logistics, manufacturing, semiconductors, artificial intelligence, and infrastructure.

Sharing updates from Davos, the minister posted on X that multinational logistics major Maersk is actively engaging with India to enhance logistics infrastructure spanning shipping, ports, railways, and semiconductor materials, underscoring India's rising role in global supply chains.

Industrial technology firm Honeywell is partnering with India on railway modernisation and has expressed strong interest in expanding its manufacturing footprint in the country.

"Maersk is actively engaging with India in enhancing logistics infrastructure across shipping, ports, & railways, and semiconductor materials. Honeywell is partnering with India in railway modernisation. It is keen to expand manufacturing operations in India," Vaishnaw posted on X.

According to Ministry Vaishnaw, engagements at WEF have reinforced India's long-term growth story and its positioning as a trusted global partner.

Temasek Chairman Teo Chee Hean conveyed interest in expanding Temasek's presence in India, while reiterating Singapore's commitment to investing in India's physical and digital infrastructure as well as deep-tech startups, the Minister said.

The minister said discussions with global leaders in artificial intelligence, robotics, and cybersecurity reflected India's emergence as a reliable and values-based partner across technology value chains.

He emphasised that India is working comprehensively across all five layers of the AI architecture -- applications, models, chips, infrastructure, and energy -- to build a strong foundation for global AI services.

Minister Vaishnaw also reiterated India's economic outlook, stating that the country is poised to become the world's third-largest economy in the coming years, driven by technology-led growth and manufacturing expansion.

On semiconductors, the minister said India is building a complete semiconductor ecosystem, covering chip design, fabrication, packaging, materials, gases, and equipment. This integrated approach has positioned India as an increasingly reliable partner in global semiconductor supply chains, he noted.

Global technology giant Google is further strengthening its commitment to India's AI ecosystem, including a USD 15 billion AI data centre project in Visakhapatnam (Vizag) and expanded partnerships with Indian startups, Vaishnaw said on X.

- ANI

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Reader Comments

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Priya S
Great to see the confidence from companies like Maersk and Honeywell. But I hope this investment translates into better infrastructure on the ground. Our ports and railways need serious modernization to handle global supply chain volumes. The partnership is a good first step, execution is key.
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Rohit P
The AI data centre in Vizag by Google is huge! ₹1.25 lakh crores investment? That will transform the entire region. Hope they focus on training local talent too, not just building infrastructure. We need our engineers and researchers at the forefront of this AI wave.
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Sarah B
As someone working in tech, this comprehensive approach across all five layers of AI is very promising. Most countries focus only on apps. Building from chips up to energy shows long-term vision. Hope this attracts more global R&D centers to India.
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Vikram M
Temasek's continued interest is a strong signal. Singaporean investors are very pragmatic. Their commitment to digital infrastructure and deep-tech startups means they see real potential here. This should encourage more FDI from other regions as well.
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Michael C
While the announcements are positive, I respectfully hope the government ensures these projects benefit MSMEs and smaller Indian companies too, not just global giants. The real test is whether this trickles down to create widespread economic growth.
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