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Thursday, July 18, 2024

South-Korean tech Giant to invest $2 Billion in India to set-up state-of-art Data Centre


In a landmark move, South Korean technology behemoth SOLIS-IDC has announced its plan to invest a staggering $2 billion in India to establish a cutting-edge data centre. The company has selected the Global Forum for Policy and Strategy (GFPS) Advisory to facilitate negotiations and representations for this ambitious venture within the Indian market.

SOLIS-IDC’s decision to make this significant investment in India comes as a testament to the country’s burgeoning tech landscape, its growing digital economy, and the increasing demand for data storage and processing capabilities. The data centre, once operational, is expected to cater to the needs of various sectors, including e-commerce, cloud computing, fintech, and more.

The appointment of GFPS Advisory, a prominent consultancy firm with a track record of facilitating foreign investments, underscores SOLISIDC’s commitment to ensuring a seamless entry into the Indian market. Mr. Ashish Jain, Chairman of GFPS, and, Mr. Suresh Sharma, President of GFPS will be spearheading negotiations and representations on behalf of SOLIS-IDC in India.

In a statement, GFPS expressed their enthusiasm for this collaboration, highlighting the potential for mutual growth and benefit. “India is a key market for SOLISIDC, and we are excited to contribute to the country’s digital transformation journey,” said the statement. “Our state-of-the-art data center will not only create job opportunities but also enhance India’s data infrastructure, serving the needs of businesses and consumers alike.”

SOLISIDC is renowned for its innovative technology solutions, including high-performance servers, data storage systems, and data management services. With a strong presence in the global tech industry, the company’s decision to invest in India is expected to have far-reaching implications for the country’s digital ecosystem.

“The investment of $2 billion will be allocated towards the construction and operation of the data center, along with the necessary infrastructure and advanced security measures to ensure the protection of sensitive data. The facility is expected to be one of the most energy-efficient and environmentally sustainable data centers in the region.” Said Dr. David Kim of SOLIS-IDC

The proposed data centre’s location is yet to be disclosed, but SOLIS-IDC and GFPS are actively engaging with Indian government officials and relevant stakeholders to identify the most suitable site that aligns with both the company’s needs and the local ecosystem.

This investment not only signifies SOLIS-IDC’s trust in India as a strategic partner but also reflects India’s growing prominence in the global technology sector. It is expected that this endeavor will not only strengthen economic ties between South Korea and India but also contribute to India’s ambition to become a data hub in the Asia-Pacific region.

As negotiations between SOLISIDC, GFPS Advisory, and Indian authorities continue, the tech industry and economic analysts are closely monitoring developments, anticipating the positive impact this investment will have on India’s digital infrastructure and job market.

This ambitious initiative by SOLISIDC aligns with India’s vision of digital empowerment and economic growth, further solidifying the country’s position as a preferred destination for global technology giants looking to invest and thrive in the vibrant Indian market.


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