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AirTrunk, a data center operator backed by Blackstone, announced on Thursday that it will invest $30 billion in India by 2030. This commitment adds to a growing wave of investments from technology and infrastructure companies seeking to expand computing capacity in the country. The Australian firm plans to develop 5 gigawatts of new data center capacity in India, marking one of the largest pledges to the South Asian nation’s digital infrastructure sector.

AirTrunk entered the Indian market earlier this year by acquiring Lumina CloudInfra. The company’s announcement highlights India’s increasing appeal as a destination for AI infrastructure, as tech companies and investors look for new regions to boost computing power. According to research firm Bernstein, data center capacity in India is expected to grow from about 1.5 GW today to as much as 8 GW by 2030.

The Indian government has also been encouraging investment in AI infrastructure. Earlier this year, New Delhi offered foreign cloud providers tax exemptions through 2047 on services sold overseas, provided those workloads are run from Indian data centers.

AirTrunk has already begun laying the foundation for its expansion. Earlier this week, Maharashtra Chief Minister Devendra Fadnavis posted on X that the state had exchanged a letter of intent for land allotment at the Raigad Pen Growth Center. There, AirTrunk is planning a 3 GW data center with an investment of about ₹2 trillion (roughly $21 billion). The company already has a development pipeline of approximately 600 MW across Mumbai, Chennai, and Hyderabad.

AirTrunk did not respond to questions about whether the proposed Raigad project would account for most of the planned 5 GW capacity, or if it intends to make additional developments elsewhere in India.

The announcement followed a meeting between AirTrunk CEO Robin Khuda and Prime Minister Narendra Modi, who posted on X that the planned investment would help strengthen India’s position as a global hub for cloud computing and artificial intelligence.

AirTrunk joins a growing list of companies investing in infrastructure in India. Amazon, Google, Microsoft, OpenAI, and Uber have all announced major investments in cloud and AI infrastructure, while Indian firms like Reliance Industries, Adani Group, and TCS have laid out ambitious plans to expand data center capacity.

However, data centers require vast amounts of electricity, water, and land. Industry executives and analysts have pointed to resource constraints—especially regarding power—as a potential bottleneck. Deloitte estimates that data center build-outs in the Asia Pacific could require tens of terawatt-hours of additional electricity by the end of the decade.

According to Khuda, AirTrunk’s investment thesis is supported by government backing, a large pool of technical talent, and access to renewable energy.