logo
MeitY jumpstarts talks on data centre policy to boost capacity

MeitY jumpstarts talks on data centre policy to boost capacity

Economic Times4 days ago
The ministry of electronics and information technology (MeitY) has restarted consultations on the draft national data centre policy, according to officials, as the government looks to sharpen its approach to wooing investments in such facilities in the country.The policy, which aims to encourage setting up of data centres through single-window permissions, streamlining approvals, promoting domestic manufacturing and providing incentives, was announced in 2020 but never implemented.
Last week, a limited stakeholder consultation held by the ministry in the national capital was attended by industry representatives, who have been asked to submit recommendations by this week, the officials said. "The existing policy was comprehensive. We have sought feedback on how to update it in line with how the sector has changed over the past five years," said one of the officials cited earlier.The rapid expansion of the sector and AI-led growth have led to the need for having such facilities across the country, centrally planning for rising power consumption and coordinating with state governments, he said.
Many of the features of the draft policy, such as single-window clearances, four dedicated Data Centre Economic Zones (DCEZs), and targeted incentives, have been discussed in recent meetings, said industry executives who participated at the last meeting. It aimed to make India a favorable destination for data centres by streamlining approvals, promoting domestic manufacturing and providing incentives. The government has partially adopted one of its key suggestions—granting infrastructure status to data centres with capacity of 5 MW or higher.
"The government is keen on the DCEZs since it would help distribute the uneven spread of data centres, especially taking advantage of the many smaller edge data centres that are set to come up in interior locations," a person aware of the matter told ET. "It has given the example of India's first AI-based data centre park opening in Chhattisgarh's Naya Raipur in May."
The DCEZ was envisioned to create an ecosystem of hyperscalers, cloud service providers, IT companies, R&D units and other allied industries at select locations.
Tapping into states "Considering that at least 10 states have now brought in data centre policies, the government plans to adopt some of the elements of the various state data centre policies based on industry feedback," said an executive with a Mumbai-based data centre operator. Although Maharashtra, Tamil Nadu, Uttar Pradesh, Gujarat, Karnataka, Andhra Pradesh and West Bengal have rolled out the red carpet for data centres, nearly 80% of the total capacity is still in the large metros—Mumbai (41%), Chennai (23%) and Delhi NCR (14%), according to real estate services firm Colliers India.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

ED raids 17 locations, seizes Rs 110 crore in Rs 3,000 crore money laundering case
ED raids 17 locations, seizes Rs 110 crore in Rs 3,000 crore money laundering case

India Today

timean hour ago

  • India Today

ED raids 17 locations, seizes Rs 110 crore in Rs 3,000 crore money laundering case

The Enforcement Directorate (ED) conducted raids across 17 locations throughout the country in connection with a money laundering probe. The raids were conducted in Mumbai, Delhi, Noida, Jaipur, Surat, Madurai, Kanpur and Hyderabad as part of an ongoing probe in the case of Cyprus-based illegal online betting platform Parimatch. During the raid, bank accounts with funds totalling to nearly Rs 110 crore were seized by the officials and frozen. Further, various incriminating documents and digital devices have been found and seized during the raids. advertisementThe ED initiated the investigation on the basis of an FIR registered by the Cyber PS, Mumbai against for duping users through online betting platform Parimatch. As per the investigation, the investors were duped of Rs 3,000 crore in a year. During the raids, it was revealed that Parimatch routed users' funds through mule accounts using different strategies across the country. In one case, funds deposited by users into mule accounts were withdrawn in cash in a specific locality in Tamil Nadu. This cash was handed over to hawala operators, who used it to recharge virtual wallets of a UK-based company. These wallets were then used to buy USDT cryptocurrency in the name of mule crypto accounts, which were actually operated by Parimatch agents. In Western India, Parimatch engaged the services of domestic money transfer (DMT) collected in mule accounts and controlled by these DMT agents were sent to PariMatch agents through payments made by mule Credit Cards. A total of more than 1,200 such credit cards were found and seized from a single premise. The ED investigation also uncovered that payment companies whose applications for Payment Aggregator licences were rejected by the RBI, offered their services to Parimatch in the garb of technology service providers (TSPs) and offered their API (Application Programming Interface) to facilitate user fund collections. These TSPs offered the APIs to Parimatch agents who onboarded mule accounts opened in the name of e-commerce companies and payment solution provider companies for collection of funds from users. The money so collected through UPI transfers was layered and transferred out in the garb of e-commerce refunds, chargebacks, vendor payments, etc. effectively concealing the actual flow and purpose of funds. Parimatch gained visibility through aggressive marketing, including sponsorship of sports tournaments and partnerships with well-known celebrities. They also set up Indian entities to run surrogate advertisements under the names 'Parimatch Sports' and 'Parimatch News.' Payments to these agencies were made via foreign inward remittances. Further investigation is under progress.- EndsMust Watch

Cops save firm's money lost in email spoofing fraud
Cops save firm's money lost in email spoofing fraud

Time of India

timean hour ago

  • Time of India

Cops save firm's money lost in email spoofing fraud

Pune: Swift action of the Pimpri Chinchwad cyber police helped a Chakan-based bioscience company recover Rs31 crore it lost in an email spoofing fraud between April and May. Cybercrooks hacked an email of the company's US-based officer, obtained details of the firm's vendors and initiated a payment process. The company's official from the US shared the details with the head office in Chakan, following which Rs33 crore was sent to a bank account number provided to the company. After realising that they were duped, the company approached the Pimpri Chinchwad cyber police, who managed to save Rs31 crore with the help of the bank. The company lost Rs1.4 crore in the fraud. The company's official from Chakan lodged a complaint with the police on Wednesday. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune | Gold Rates Today in Pune | Silver Rates Today in Pune Assistant inspector Pravin Swami of the Pimpri Chinchwad cyber police said the bioscience company's plant was in New Jersey in the US. In April, cybercrooks hacked the email of the company's US-based officer and obtained details about the company's vendors. "The crooks also hacked the vendor's email. They created a fake domain in the vendor's name and managed to change the vendor's bank account number," Swami said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Switch to UnionBank Rewards Card UnionBank Credit Card Apply Now Undo The officer said the crooks then shared those bank details with the company's official in the US and requested to initiate the payment process. "The official in the US shared those details with officials in Chakan. After making a payment of Rs33.5 crore, the company found that it was a fraud," Swami said. He said the company approached the cyber police and filed a complaint application. "With the help of the company's bank, we managed to freeze the suspects' account. We even told the company to file a complaint in the US about the fraud. These efforts yielded results, and we managed to recover Rs31 crore before the crooks could withdraw it. Our investigations are on," Swami said. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area. Get the latest lifestyle updates on Times of India, along with Happy Independence Day wishes , messages , and quotes !

Nvidia's 'Trump tax' of little concern to investors eyeing AI riches
Nvidia's 'Trump tax' of little concern to investors eyeing AI riches

Business Standard

timean hour ago

  • Business Standard

Nvidia's 'Trump tax' of little concern to investors eyeing AI riches

President Donald Trump's move to extract a 15% sales tax from Nvidia Corp. on certain semiconductors sold in China did nothing to damp investor enthusiasm for the world's most valuable company. A look at balance-sheet math goes a long way to explaining why. In the first quarter, Nvidia said it sold $5.5 billion in products to China, roughly 13% of its total. The chips exposed to the Trump tax accounted for about 80% of that, or just under $5 billion. That means the Santa Clara, California-based firm could send some $700 million per quarter to the Treasury — hardly chump change. But for a company that churns out $20 billion in profit a quarter and increases sales by a similar amount — a rate of growth it's sustained throughout the AI boom — paying the tax barely registers. 'I don't think it's that big of an issue,' said Larry Tentarelli, founder of Blue Chip Daily. 'If it was their overall revenue base, it would be a big problem. But because China is not the biggest proportion of their revenues, it's a speed bump.' Nvidia shares slipped Monday after the tax was disclosed, then rallied to a fresh record Tuesday in a broad market advance. The chipmaker's shares have nearly doubled since early April, pushing its market value past $4.4 trillion. Similarly, Advanced Micro Devices Inc., which agreed to the same tax, closed at the highest in more than a year on Wednesday, bringing year-to-date gains to 50%. Shares of both companies were slightly higher in early trading in New York on Thursday. Nvidia reports second quarter earnings on Aug. 27. Analysts expect it will report earnings growth of 44% on a 53% surge in revenue to $45.9 billion. That's not to say the clouds have completely lifted in China. Bloomberg News reported this week that Beijing has encouraged local firms to avoid using Nvidia's chips — a move that could limit sales. And worries abound that chipmakers will increasingly become ensnared in federal trade policy or that China could make a more formal recommendation to ban certain US chips altogether. 'It is a hard game to know how this will play out. I would almost consider the stocks absent this news,' said Michael Matousek, head trader at U.S. Global Investors Inc. 'If you already liked them, there's potential for upside from China, but there are risks this could change again.' None of that, though, seems to register among investors betting that red-hot demand for AI infrastructure will continue to burn. The trend has lifted shares of Nvidia from their April lows alongside Magnificent Seven peers deemed AI winners, including Meta Platforms Inc. and Microsoft Corp. The tax news is 'mostly empty calories,' Citigroup's Christopher Danely wrote in a note this week on AMD. 'We view this as not material given the low margins of these products, and these AI GPUs could be banned in China again.' At Bernstein, analyst Stacy Rasgon worries about the precedent the Trump tax sets. The arrangement 'might raise some money, but doesn't seem to address any strategic issues beyond a grab for dollars,' he wrote in a note published Aug. 11. Regardless, Nvidia shares will rise or fall on its ability to deliver sales of cutting-edge chips, most notably its Blackwell products. 'What's more important is the trajectory of Blackwell and whether or not Blackwell is going to meet or exceed expectations,' said Melissa Otto of Visible Alpha LLC. 'That's what the market has priced in. That's where we see the biggest uplift in demand and growth. And so that is ultimately what is going to drive the earnings expectations and valuation for the stock.' That major question, along with the trade uncertainty and Nvidia's rally do leave the shares exposed to profit-taking ahead of the Aug. 27 report. 'I'm not going to bet on whether this stays a positive,' said Alvin Nguyen, senior analyst at Forrester. 'There have been so many rapid changes, there's still so much uncertainty, and we need to see stability in trade.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store