Robin Khuda, founder and CEO of AirTrunk.
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AirTrunk—the data center company founded by Australian billionaire Robin Khuda and backed by U.S. private equity firm Blackstone—will invest more than 3 trillion rupees ($30 billion) in data center projects in India by 2030 to tap into the booming demand for AI and cloud computing in the world’s most populous country.
The announcement came after Khuda met with Prime Minister Narendra Modi and other Indian government officials. AirTrunk plans to build some five gigawatts of data center capacity across India, according to a statement released on Friday. “Such investments will strengthen India’s position as a global hub for cloud computing and AI, while generating employment opportunities, supporting local supply chains and accelerating innovation-led growth,” Modi said on X (formerly Twitter).
The biggest of these projects will be in the western state of Maharashtra. Earlier this week, Maharashtra’s chief minister Devendra Fadnavis announced on X that AirTrunk will develop a three-gigawatt data center hub in the western Indian state, entailing about 2 trillion rupees in investment. The Sydney-based company has signed the letter of intent to buy the land for the project in Raigad in the outskirts of Mumbai.
“India is one of the few markets where the scale of future demand has the potential to match the scale of our ambition,” Khuda, CEO of AirTrunk told Forbes Asia via e-mail. “Every market has strengths, but India’s growth trajectory is unique. The combination of population, digital adoption and AI ambition is difficult to replicate.”
AirTrunk has been expanding its footprint across the Asia-Pacific region, with operations in Australia, Hong Kong, India, Japan, Malaysia and Singapore. In April, it acquired Mumbai-based Lumina CloudInfra, a data center developer founded by AirTrunk shareholder Blackstone. Lumina plans to build 600 megawatts of data center capacity across India, with up to $5 billion in development potential.
“We’re bullish on India before entering the market through Lumina,” Khuda said. “Following our discussions with government leaders this week, we’re looking to double down on that commitment. We hear a clear message that India is open for investment and determined to compete for the next generation of AI and cloud infrastructure that will transform India’s industries and economy for generations to come.”
The data center boom is also drawing India’s billionaires. Reliance Industries, controlled by Mukesh Ambani, and Adani Enterprises, led by Gautam Adani, each plan to invest around $100 billion in data centers and other digital infrastructure projects across India over the coming years.
With an estimated net worth of $2.1 billion according to Forbes’ real-time data, Bangladesh-born Khuda is among the wealthiest in Australia. He founded AirTrunk in 2015 and grew the company to have a strong presence across the Asia Pacific. In 2024, a consortium led by Blackstone and Canada Pension Plan Investment Board acquired AirTrunk in a $16 billion deal. Khuda retains a small but valuable stake in the company.