NEWS STT GDC India signs MoU with Karnataka Government worth Rs 1500 Crore! Nov 11, 2022 STT GDC India SHARE Link copied! STT GDC India to invest and spend Rs 1,500cr on data centres over the next 8-10 years in Karnataka; Karnataka continues to attract investments in Manufacturing – Sunrise sectors (E- Mobility, Aerospace & Defence, Data Centres); 3rd November, 2022: STT GDC India has signed a memorandum of understanding (MoU) with the Government of Karnataka. The planned investment aims to establish data centres in the state of Karnataka with a total estimated proposed investment of around Rs. 1,500 crores. It is planned to happen over multiple phases in the next 8 to 10 yearsand will generate employment (direct & indirect), with up to 1000people during construction phase and 200 when operational. The MoU was signed during the inaugural ceremony of Invest Karnataka 2022 – Global Investment Meet.. STT Global Data Centres India Private Limited, also known as STT GDC India, is a market-leading data centre services provider with 215MW of Design Capacity in terms of IT load, spanning across 21 facilities (including under construction) in 9 cities. Headquartered in Mumbai, it offers a wide-ranging portfolio of services that include colocation services, carrier-neutral services and technical support services such as installation, networking, and monitoring. The MoU was signed by Sumit Mukhija, CEO of STT GDC India, in the presence ofAdditional Chief Secretary to Government,Commerce & Industries Department,Dr. E.V. Ramana Reddy. The event was joined by other dignitaries, Hon’ble CM, Sri Sajjan Jindal, Chairman JSW Group, Sri Rajeev Chandrasekhar, and Hon’ble Union MOS for Skill and Development. Sumit Mukhija, CEO, of STT GDC India, "Karnataka currently contributes $100-110 billion to India’s digital economy. Under the leadership of our Hon'ble Chief Minister, Karnataka has been the frontrunner in post-COVID investments in the country and has shown how states can adopt and rebuild economies in the 'new normal'. The department is committed to providing all support to tap the full potential of Beyond Bengaluru clusters in Karnataka.” “STT GDC India today, the largest Datacenter colocation services provider in the country with more than 215MW of Design Capacity in terms of IT load, spanning across 21 facilities (including under construction) in 9 cities totalling more than 3 Mn sqft of Gross floor area. Since 2015, our design capacity has grown 5X, revenue by more than 3X and we have done this profitably with an equal growth in EBITDA.” Sumit Mukhija, CEO, STT GDC India India is set to create up to $1 trillion in economic value from the digital economy by 2025. STT GDC India is committed to playing a significant role in the Digital India mission by building world-class data centres and supporting Prime Minister Narendra Modi's vision of making India a $1-trillion digital economy by 2025, he added. As a leader in the data centre colocation market, STT GDC India has always believed in pioneering initiatives that add value to the ecosystem. Skilled manpower has been a persistent challenge faced by the industry that needs to be addressed. The Centre of Excellence in Bengaluruhas provided a platform for and has already trained 200 candidates, to up-skill and in alignment with industry requirements complete with practical learning opportunities, thereby enabling them to increase their employability quotient.