Global companies have promised India $177.9bn. Here is how much is being built.
We follow every major pledge by a global company in India since November 2024, from the day it is announced to the day it starts producing. Each pledge shows what has actually happened on the ground and what is still to come.
Promised vs delivered
Where the $177.9bn of dollar pledges stands today, by the stage each project has reached.
Where the money is going
Each tile is a state, coloured by how many pledges name it. Tap a state to see the companies and how far each project has got. Pledges spread across several states count in each one.
Telangana
10 pledges name this state
Pledges by sector
Dollar pledges in each sector, coloured by delivery stage.
Where the money comes from
Number of pledges by home country. US companies made 16 of the 35, worth about 55% of all dollar pledges.
The ten biggest pledges, and how far each has got
Bar length shows the size of the pledge. Colour shows its stage today.
How the pledges have grown
Dollar pledges by when they were announced, coloured by how far each has moved since. The running total has climbed from $4.5bn in the first half of 2025 to $177.9bn today.
Amazon
United States · Cloud, AI and e-commerce · Maharashtra, TelanganaOver $1.3 billion had gone into its Hyderabad cloud region by the end of 2025. Telangana laid the foundation stone for a new AWS data centre in July 2026.
All Mumbai expansion and most of the spending. First pledged at $35 billion in December 2025 and raised in June 2026. Read our report
AirTrunk
Australia · Data centres · Maharashtra, Tamil Nadu, TelanganaMaharashtra issued a letter of intent for a 3 GW campus in Raigad. AirTrunk entered India by buying Lumina CloudInfra.
Construction and all 5 GW of planned capacity. Read our report
Microsoft
United States · Cloud and AI · Telangana, Tamil Nadu, MaharashtraIts new Hyderabad cloud region, Microsoft’s largest in India, went live in August 2026 with three availability zones.
Expansion of its Chennai and Pune regions. No spending figure has been published yet. Read our report
Hyundai Motor Group
South Korea · Automotive · Multiple statesNo spending under the new plan yet. Separately, its Talegaon plant near Pune began production in October 2025 with capacity of 170,000 cars a year.
Capacity expansion, R&D and supplier localisation. Read our report
About 600 acres were acquired across three Visakhapatnam sites. Ground was broken in April 2026 and land clearing is under way.
All data centre capacity. Commissioning is targeted for July 2028. Read our report
Brookfield
Canada · Clean energy · Andhra PradeshMemorandum signed with Andhra Pradesh for renewables, storage, solar manufacturing and green hydrogen. Brookfield backed platforms have since started solar and hybrid projects in the state.
Most capacity, plus the manufacturing and hydrogen plans.
International Resources Holding (IHC) with Adani
UAE · Metals and aluminium · OdishaOdisha handed over land documents for more than 7,000 acres in Rayagada and Sundargarh in September 2026.
Construction and commissioning. No dates set. Read our report
Digital Connexion (Brookfield, Digital Realty)
Canada, United States · Data centres · Andhra PradeshMemorandum signed with Andhra Pradesh for a 1 GW AI campus on 400 acres in Visakhapatnam.
Land, construction and all capacity.
Applied Materials
United States · Semiconductor equipment · KarnatakaKarnataka approved 140 acres near Bengaluru airport for a research park, and an MoU was signed.
Land deal execution, construction and hiring of about 1,000 people.
Intel and 3D Glass Solutions
United States · Semiconductors · OdishaCentral approval came in August 2025. The foundation stone was laid in Bhubaneswar in April 2026, and Odisha signed an MoU in May 2026.
Commercial production, targeted for 2028. Read our report
Microsoft
United States · Cloud and AI · Multiple statesMicrosoft says its new Hyderabad region builds on this pledge and the larger one that followed.
No breakdown of what this tranche has funded.
Foxconn
Taiwan · Electronics · Tamil NaduAbout $1.5 billion of capital was cleared and channelled into its display module unit near Chennai, and the project won state and central approvals.
Start of commercial production is not yet confirmed.
Brookfield
Canada · GCC real estate · MaharashtraA 20 year lease is signed with a global bank as sole occupier of the Powai campus.
Construction has not been reported to have started. Read our report
Princeton Digital Group
Singapore · Data centres · Maharashtra, TelanganaBought 210 MW across Mumbai and Hyderabad with power secured and key land approvals in place, taking its India portfolio to 1 GW.
Ready for service dates are not announced.
CapitaLand Investment
Singapore · Data centres · Maharashtra, TelanganaPlan to double its India capacity to nearly 500 MW in Mumbai and Hyderabad.
Sites are at due diligence. No construction reported.
Eli Lilly
United States · Pharmaceuticals · TelanganaPlan to expand contract manufacturing and open a manufacturing and quality hub in Hyderabad.
No update on the Hyderabad hub opening.
VinFast
Vietnam · Electric vehicles · Tamil NaduIts Thoothukudi plant opened in August 2025 with capacity of 50,000 cars a year and has built 10,000 vehicles.
Bus and e-scooter lines and growth to 150,000 units.
Fujifilm
Japan · Semiconductor materials · GujaratMoU signed to supply materials to the Tata Electronics fab at Dholera.
Land, groundbreaking and construction. Read our report
ST Telemedia Global Data Centres
Singapore · Data centres · Tamil Nadu, Telangana, MaharashtraThe first 7.2 MW phase of its Siruseri campus in Chennai opened in February 2026.
Telangana and Maharashtra projects remain at the MoU stage.
Suzuki Motor
Japan · Automotive · Haryana, GujaratA second Kharkhoda plant in Haryana began production in May 2026, adding 2.5 lakh cars a year. Spending was approved for land and phase 1 of a new Gujarat plant.
The Gujarat plant, due by 2029, and further capacity.
PepsiCo
United States · Food and beverages · Madhya Pradesh, Assam, Tamil NaduIts Ujjain concentrate plant opened by July 2026 and its Nalbari snacks plant in Assam opened in September 2026. Land has been bought in Tamil Nadu.
The Tamil Nadu plant. Read our report
Its expanded Hyderabad GCC opened in February 2026 with more than 2,600 staff.
Growth beyond 4,500 people. Read our report
Safran
France · Aerospace · TelanganaIts LEAP engine repair centre in Hyderabad opened in November 2025, and ground was broken on a second engine shop.
Growth to about 1,100 jobs.
HCL and Foxconn
India, Taiwan · Semiconductors · Uttar PradeshCabinet approval came in May 2025 and the foundation stone was laid at Jewar in February 2026.
Chip production and about 2,000 jobs.
ArcelorMittal Nippon Steel India
Luxembourg, Japan · Steel · Andhra PradeshEnvironmental clearance and land are in place, and the foundation stone was laid at Anakapalli in March 2026.
All production. Phase 2 is due by 2033.
Crown Holdings
United States · Packaging · Uttar PradeshGround was broken in Unnao in September 2026.
Production.
CoreWeave
United States · AI cloud · MaharashtraSigned for three 80 MW buildings at Taloja, Navi Mumbai, with an option on 240 MW more.
All capacity and its planned India office. Read our report
Lam Research
United States · Semiconductor equipment · KarnatakaKarnataka has identified a 73 acre site at Doddaballapura for its first India silicon components plant.
Foundation stone, construction and production. Read our report
Toyota Kirloskar Motor
Japan · Automotive · MaharashtraLand is allotted at Bidkin near Chhatrapati Sambhajinagar and the plant was formally announced in May 2026.
Construction, production and about 2,800 jobs.
Ball Corporation
United States · Packaging · Uttar PradeshA site has been selected at Meerut.
Construction and production. Read our report
NTT DATA with Neysa
Japan · AI data centres · TelanganaMemorandum signed with Telangana for a 400 MW AI data centre cluster in Hyderabad.
No construction update.
Jabil
United States · Data centre hardware · Not disclosedNon binding MoU signed with Adani Enterprises for an equal joint venture.
Final agreements, approvals and a site. Read our report
POSCO with JSW Steel
South Korea · Steel · OdishaA final 50:50 joint venture agreement was signed in April 2026.
Approvals, full land and construction.
Meta
United States · AI data centres · GujaratLease agreed for an AI data centre that Reliance will build in Jamnagar.
The whole facility. Read our report
OpenAI
United States · AI data centres · Not disclosedNamed first customer of a new AI data centre platform, starting at 100 MW with an aim of 1 GW.
Site, build and all capacity.
No pledges match these filters.
The Narrative Republic view
India is winning the promises. Global companies have lined up nearly $178bn in dollar pledges in two years, led by cloud and AI infrastructure. The gap is in delivery. Only about one dollar in eight sits in projects that are already producing, and roughly half has not reached construction.
That is not a sign of failure. Data centres, fabs and steel plants take three to five years to build, and many of these pledges are less than a year old. The states that move fastest on land, power and approvals are the ones turning announcements into factories, and this tracker will show who they are.
How we track pledges
Every entry is a commitment by a global company to build, expand or invest in India, announced since November 2024. Each status reflects the latest verified development, and we update entries as projects move forward.
The dollar figures add up only pledges stated in dollars. Pledges stated in rupees or euros, and those without a published value, are listed but not added. A pledge is counted at the stage its most advanced project has reached, so a partly live pledge counts in full as live.
Know of a pledge we have missed, or a project that has moved on? Write to editorial@thenarrativerepublic.com.
