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Karnataka is to be the data centre destination of choice in India, according to a report by CBRE, a real estate consulting firm. According to the report, the data centre (DC) policy will help Karnataka be a premium data centre destination in India.
“Karnataka’s digital economy is bound to accelerate, and the State is being envisioned as becoming the most popular choice for setting up data centres, given the robust existing digital infrastructure besides an integrated favourable policy ecosystem and civil infrastructure. This undoubtedly positions Karnataka as a data centre destination of choice that will attract investments, and Bengaluru will be a dominant turf for data centers in Karnataka,” said Anshuman Magazine, Chairman and CEO, -India, South-East Asia, Middle East and Africa, CBRE.
The report states initiatives taken by the Central government including the National E-commerce Policy 2019 and Personal Data Protection Bill 2018 would restrict cross-border data flow. Additionally, Karnataka Digital Economy Mission which aims to create one million jobs by 2025 and targets $150 billion in IT exports, would bolster demand for digitalisation and data storage requirements in the State, particularly in Bengaluru.
Bengaluru will lead in attracting operators and investor interest in the data center space. The city is also the largest office market in the country, with about 30 per cent of the overall leasing in the past five years, said the release.
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The IT and technology services portfolio for L&T includes Mindtree, L&T Infotech and L&T Technology servicesThe DC policy targets investments worth ₹10,000 crore and aims to double the existing capacity to 200 MW by 2025, which will alter the real estate contours in the state as supporting infrastructure will require to be future-ready with environment, social and corporate fund (ESG) compliance, Magazine added.
CBRE Group is a Fortune 500 and S&P 500 company headquartered in Dallas. It is one of the largest commercial real estate services and investment firms.
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