India is on the brink of a significant digital revolution, with projections indicating that it could grow into a $1 trillion digital economy by 2030. The country's digital landscape is rapidly expanding, thanks to an impressive 881 million internet users and a penetration rate close to 48.7%.
A key driver of this growth is the dramatic increase in the volume of digital transactions, which increased from 2,071 crore in FY 2017-18 to 13,462 crore in FY 2022-23 at a CAGR of 45 per cent. Digital payments transactions have reached 11,660 crore in the current Financial year as on 11.12.2023 and is expected to surpass FY 2022-23.
This digital shift is supported by a strong digital infrastructure, strengthened by government initiatives like the Digital India Programme and the BharatNet project.
However, this rapid growth also brings with it the challenge of increasing data breaches and cyberattacks. This necessitates strong measures to protect digital assets, and that's where data centres come into play. They are the backbone of digital security and continuity in this transformative journey.
▾ The Rise of Data Centres in India
Data centres house vital computing systems and related components, and have become the central hub of India's digital revolution. The swift expansion of data centres across the country is due to a blend of favorable conditions. A thriving consumer market, the rising trend of hybrid work models, government support, and a strong global connectivity framework have all significantly contributed to this growth.
This story is from the February 2024 edition of PCQuest.
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This story is from the February 2024 edition of PCQuest.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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