Government will reveal policy on data center parks
BENGALURU: The government said it will present a policy to allow the construction of the private sector in the country at a time when the segment is becoming an area of focus for commercial real estate actors. It will allow our firms to skillfully incorporate data at every step of their value chains, said Finance Minister Nirmala Sitharaman in her Budget speech on Saturday.
The RBI has ordered that the financial data of Indian citizens must remain within the country. The government wants confidential data on nationals to remain within the country. For all kinds of other data as well, the government plans to ensure that at least one copy of the data is stored locally. Therefore, a high demand for local data centers is emerging.
“This movement correctly recognizes how comprehensive data is for each sector of the economy at a very opportune moment. NTT - Netmagic currently operates nine data centers in the country and plans to double the capacity of our data center in the coming months, ”said Sharad Sanghi, MD and CEO.
Niranjan Hiranandani, founder and managing director of the Hiranandani Group, said it is a movement in the right direction of the government that will incentivize the nascent industry. Hiranandani Group, through its subsidiary Yotta, is looking to invest around Rs 15,000 crore in the next 5-7 years to establish data centers in Mumbai, Panvel and Chennai.