Adani and Sirius join forces to propel India's digital economy with USD 175B investment in new era technologies
Dec 28, 2023
Ahmedabad (Gujarat) [India], December 28 : Adani Enterprises Limited (AEL) and Sirius International Holding Limited, a subsidiary of International Holding Company (IHC), UAE, have formalized a joint venture named Sirius Digitech International Limited (Sirius JV).
This partnership, with Sirius holding 51 per cent and Adani 49 per cent, aims to spearhead India's digital transformation, targeting the colossal USD 175 billion digital economy opportunity.
Sirius JV emerges as a key player in the digitalization of India's economy, capitalizing on Sirius's global digital transformation expertise and Adani's strategic insights.
The venture is set to lead the USD 175 billion digital transformation opportunity, which is projected to evolve into a USD 1 trillion market by 2030.
The joint venture is geared towards deploying cutting-edge technologies, including Artificial Intelligence (AI), Internet of Things (IoT), and Secured Blockchain Products. This tech arsenal will be harnessed for industrial applications, marking a significant leap in efficiency, real-time decision-making, and transformative business models.
Sirius JV envisions creating an integrated ecosystem of digital platforms that extends across infrastructure industries, FinTech, HealthTech, and GreenTech. The comprehensive approach aims to optimize industries, streamline processes, and foster growth in various sectors.
Strategic Testbed Deployment: solutions. This deployment strategy ensures a robust foundation for testing and refining cutting-edge technologies in real-world industrial scenarios.
Sirius International Holding spokesperson said, "We are pleased to embark on this transformative journey alongside Adani Enterprises. The partnership reflects a formidable commitment to address key challenges and unlock unprecedented opportunities in the rapidly evolving digital landscape. We believe that Sirius's expertise and Adani's dynamic approach will be instrumental in empowering businesses to thrive in the digital era with advanced technologies that optimize industries, streamline processes and foster growth."
Adani Enterprises spokesperson said, "Inexpensive sensorization and the power of artificial intelligence are opening up new ways to drive extreme levels of efficiency, ensure real-time decision making, and rapidly deploy transformative business models. The power of compute and the ability to deliver green energy to data centres creates a unique combination of strengths that we bring to this partnership with Sirius International Holding which has a portfolio of the most exciting digital companies relevant in today's era."
Sirius JV is poised to kick-start the deployment of cutting-edge AI and enterprise blockchain products and services for industrial applications.
The venture aims to unlock exponential levels of efficiency, productivity, and innovation, potentially leading to the complete reinvention of business models.
The completion of this transformative transaction is contingent upon the satisfaction of customary closing conditions, including the receipt of necessary approvals.
As the joint venture sets its sights on reshaping India's digital landscape, it heralds a new era in the country's technological evolution.
