In order to increase its data center capacity in India by 550 megawatts over the following five to six years, ST Telemedia Global Data Centres (STT GDC) stated on Friday that it will be investing $3.2 billion (about Rs 26,000 crore).
According to a release, this will almost increase the data center corporation with its headquarters in Singapore’s IT load capacity to satisfy the needs of India’s booming digital economy.
With 28 data centers spread over 10 locations and a total capacity of more than 318 megawatts of IT load, STT GDC India, in which Tata Communications owns a minority investment, is a provider of IT services. It serves roughly one thousand business clients.
“This strategic investment reflects STT GDC’s confidence in India and the growth of its digital economy, as well as aligning with the burgeoning demand for digital infrastructure, driven by the surge in data consumption, cloud computing, digital transformation, and growing adoption of AI applications,” the company said.
It further stated that the investment will strengthen its position as the industry leader in the nation, where it now has a 28% revenue market share.
“At STT GDC, we want to play an active role in co-investing and contributing to India’s long-term success by investing in the foundational digital infrastructure that will help further accelerate Digital India,” said Bruno Lopez, group chief executive at STT GDC. “We are excited about the opportunities ahead and are confident in our ability to contribute significantly to India’s digital transformation.”
According to him, India’s digital economy is growing at a rate that is currently about three times faster than its GDP growth, and by 2027–2028, the nation is predicted to have a $1 trillion digital economy.
Participating at a business roundtable with Prime Minister Narendra Modi on Thursday was STT GDC, which was organized by the Singapore Business Federation. Modi was in Singapore for two days.
Singapore, the United Kingdom, Germany, India, Thailand, South Korea, Indonesia, Japan, the Philippines, Malaysia, and Vietnam are among the countries where the company operates.
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