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The Gross Asset Value of India’s REIT sector by 2029 after a 5x increase from today.

India's real estate and infrastructure sectors are experiencing substantial growth and attracting strong institutional interest across the APAC region. Driven by accelerating urbanisation, economic expansion, and maturing financial markets, Real Estate Investment Trusts (REITs) are establishing themselves as a cornerstone of the country's investment landscape.

India’s REIT story is young. The first REIT was listed only six years ago and the market has developed exponentially since then. According to a report from the leading real estate consultancy JLL, Gross Asset Value is expected to grow fivefold by 2029:

*Gross Asset Value = Total value of all assets (buildings, land, etc.) owned by the REIT, before deduction of any liabilities (i.e. mortgages).

This strong growth cycle is particularly concentrated in office assets, as those are expected to cover over 60% of the growth, followed by retail.

Institutional capital is essential to finance India’s vast infrastructure requirements. In a recent gathering by the Bharat InvITs Association and Indian REITs Association, SEBI’s Chairman Shri Tuhin Kanta Pandey emphasised the importance of investments not only for financing India’s INR 700 trillion (around EUR 7.8 trillion) requirements over the next two decades, but democratising access to quality assets.

Several developments signal this financing shift is already underway:

India's infrastructure and real estate boom continues to accelerate, backed by substantial institutional commitments from global players. The capital flowing in, from Blackstone's doubling down to Japanese developers seeking higher returns, confirms what the fundamentals have been signalling: India's transformation is not speculative but actively underway. For European leaders, these developments represent another data point in an unmistakable trend, one that demands strategic attention rather than wait-and-see caution.

Sources: The Economic Times, JLL, Times of India, Business World, PropNews Time, Construction Week Online

The global AI race also continues in India and does not only impact the country’s semiconductor and electronics ecosystem, but accelerates the development of data centre capacity. India’s Tata Group is now in talks with leading market players and follows recent announcements by Adani and Google (see prior issues of India Rising).

Tata Consulting Services (TCS) is investing up to USD 7 billion for its own 1.2 GW data centre capacity, and is reportedly in talks for two additional joint ventures (JV):

With roughly USD 1 billion required per 150 MW of capacity, data centres are substantial investments, though remain moderate compared to US standards.

Other major players are also driving India's data centre expansion:

This infrastructure buildout creates an ecosystem opportunity: access to cutting-edge AI capabilities, technical talent at scale, and development partnerships.

While small compared to US levels of data centre investments, its a clear sign of India’s technology ecosystem and a confirmation of the country’s role in AI. European companies should leverage this ecosystem much more and leverage it for AI development, R&D partnerships, or innovation centres.

Sources: IndianWeb2, Times of India, The Economic Times, Moneycontrol

The Dutch semiconductor equipment maker ASML, renown for its globally leading lithography machines required for cutting edge chip manufacturing, is reportedly considering an office presence at GIFT city to support their local customers.

The Economic Times expects the customer being Tata Electronics, who is building India’s first semiconductor manufacturing plant in Dholera together with the Taiwanese specialist PSMC. The parties are investing INR 91,000 crore (around EUR 10.1 billion) and will create 20,000 jobs. ASML could establish broader presence once Tata’s project is set up in order to support its further development and chip manufacturing.

ASML’s CEO Christophe Fouquet signalled interest in India’s market during Semicon India in autumn this year, and they might do so for various reasons:

ASML’s lithography machines, especially its latest extreme ultraviolet (EUV) models, are technological masterpieces and involve 1,200 European suppliers. Key partners such as ZEISS (mirror technology), Trumpf (laser technology), or Fraunhofer Research Institute would benefit directly from ASML’s market entry to India as well. Adding suppliers (i.e. chemical industry) that indirectly profit from a potential market entry to the list as well, the overall opportunity of the Indian market for European businesses becomes even clearer. And strategic positioning is essential now.

Sources: The Economic Times, World of Photonics, Yahoo Finance

The India AI Impact Summit 2026 follows this year’s summit in Paris and will focus on the principles of “People, Planet and Progress” and how AI can advance humanity, foster inclusive growth, and protect our planet.

Find all details and opportunities to register in the link embedded below.

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