Gautam Adani woos Amazon and Google with Indian data hubs as Indian government is weighing a new law that would require data to be stored locally.
Gautam Adani is setting his sight on selling data storage services to companies such as Amazon and Google.
“Our main goal is nation building through infrastructure,” Gautam Adani said. “The Adani Group has always focused on businesses in line with the government’s vision.”
- If the proposed law goes through “it will explode data storage requirements, and that will need capacity,” Adani said in an interview.
- “This will be a multi-billion-dollar project that will bring in the Googles and the Amazons of the world.” Adani added.
- Gautam Adani is now a tycoon from a diamond trader, after successful bets on ports, mining and commodities, he has a net worth of $10 billion.
- Adani Enterprises Ltd. has said it expects to invest Rs 700 billion ($10.2 billion) to build data parks in a southern state over the next two decades.
- The billionaire’s hope is to capitalize on demand from foreign technology companies, who are expanding in India as the use of smartphones and Internet surges.
- Much similar to China, India has sought to draw more private investment to ramp up its infrastructure as it attempts to double GDP to $5 trillion over coming years.
- One of the big supporters of data localization has been Adani’s fellow billionaire Mukesh Ambani.
- Mukesh Ambani has argued that India’s data must be controlled and owned by Indians, and not by global corporations.
- Personal Data Protection Bill mandates storage of personal data on a server or in a data center located in the country, citing the need to protect the autonomy of individuals and their personal data.
- The bill, considered by the government, would need to be approved by the parliament.
By: Abhinav Ranjan, Business Writer, DKODING Media