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India's Finance Minister Nirmala Sitharaman has proposed a tax holiday for foreign cloud service companies using local data centers, lasting until 2047, to boost investment in the country's expanding data center sector. The initiative, which requires companies to serve Indian customers through local resellers, aims to attract $30 billion in investment as the sector is expected to grow significantly by 2030. Additionally, the Minimum Alternate Tax will be reduced from 15% to 14%, and other provisions for non-residents in warehousing and capital goods supply are included in the budget.