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Ravi Shankar Prasad, Minister of Communications and IT, has urged Indian entrepreneurs and technology companies to make the country a data hub of the world.
Talking at the virtual launch of Hiranandani Group’s largest data centre in India, Prasad said that while India has done an excellent job in the software services sector, the time has come to replicate this success in newer areas. “India should be the global refinery of data, which includes cleaning, safe processing and analysing of data,” he said.
India’s software exports were estimated at $97 billion in fiscal year 2020. The country is also home to back-end services to 85 per cent of Fortune 500 companies globally.
He pointed out that companies across the globe are increasingly spending on digitalising their business processes and this throws up humongous amounts of data, which require processing and analysing. Prasad also emphasised that the data protection Bill, which is out for public consultations, will mandate that data be resident in India so that the country achieves data sovereignty.
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