Multi-billionaire Gautam Adani is mulling the setting up of data parks that will manage the data storage of global behemoths such as Amazon and Google. The aim is to capitalise on the rising demand for local data management from foreign technology companies.
A new law proposed by the Indian government requires giant tech companies to store data locally. The Adani Group plans to lead the initiative by investing about Rs 700 billion to build data parks in a southern city within the next two decades, Bloomberg reported.
According to the report, if the proposed law comes into being it will spawn demand for massive structures for data storage. The report further added that the multi-billion-dollar project will bring together the Googles and Amazons of the world.
Adani Group has always highlighted its 'nation building' role and has taken on large infrastructure projects through the years. Adani group has also taken advantage of the government policies of the time, taking up huge projects in ports, mining etc.
Adani Group was successful in winning multiple gas retailing licences after the Indian government pushed for gas projects in cities. It then went on a shopping spree for defence contracts after Narendra Modi proposed to develop local manufacturing of defence equipment.
The 57-year-old billionaire has built his presence in sectors like mining, ports, commodities and diamonds. He owns a 15,000-hectare industrial zone in Gujarat that houses Adani's largest port and power plant. He now eyes building data parks, assuming the project will be a money spinner for the company.