Budget proposes tax holiday for foreign cloud service provider till 2047 operating in India says Piyush Goyal

Commerce and Industry Minister Piyush Goyal hailed the 2026-27 Budget as a "future-ready Bharat" initiative, designed to bolster exports and domestic manufacturing. The budget introduces significant benefits, including a tax holiday until 2047 for foreign companies using Indian data centers for global cloud services, aiming to position India as a key AI and digital infrastructure hub.