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The Economic Times
The Economic Times
Veer Sharma

Nomura names GE Vernova, CG Power, 4 others among top plays on India’s decadal data centre opportunity

Nomura CG Power GE Vernova India GE Vernova TD India United States ABB India Cummins Hitachi Energy India Siemens

International brokerage firm Nomura believes India's data centre industry is entering a multi-year growth phase, driven by accelerating digitalisation, rising cloud adoption and growing demand linked to artificial intelligence. The brokerage sees the trend creating a significant opportunity for industrial equipment manufacturers supplying critical infrastructure to the sector.

According to Nomura, India's data centre IT load has expanded from around 350 MW in 2019 to nearly 1.5-1.6 GW in 2025, implying a CAGR of about 29%, compared with roughly 20% globally, based on data from Cushman & Wakefield and Bloomberg. As a result, India's share of global data centre capacity has increased from around 1.5% in 2019 to approximately 2-3% in 2025.

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