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India's largest state-owned infrastructure financing institution has approved loans exceeding 30 billion rupees ($313 million) each for at least four data centers, reflecting India's push to participate in the AI buildout. Rajkiran Rai G., managing director of the National Bank for Financing Infrastructure and Development, said in an interview that these financing arrangements have a grace period of up to five years, followed by repayment over the next decade. Such loan demand indicates that Indian companies' spending on large projects such as data centers is growing. Global investors ranging from EQT AB and Blackstone Group to Alphabet Inc., as well as domestic conglomerates such as the Adani Group, have also pledged billions of dollars to build AI computing infrastructure in the country.