Business
Sirius And Adani Forge Alliance To Transform India's $175 Billion Digital Economy With New-Era Technologies
Arun Kumar Das
Dec 29, 2023, 10:14 AM | Updated 10:14 AM IST
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Adani Enterprises Limited, through its wholly owned subsidiary, Adani Global Limited and Sirius International Holding Limited, a subsidiary of International Holding Company, UAE have entered an agreement to create a new joint venture named Sirius Digitech International Limited, an entity based in Abu Dhabi.
Sirius Digitech International Limited (Sirius JV) will be owned 51 per cent by Sirius and 49 per cent by the Adani Global Limited (Adani).
Sirius JV will capitalise on global digital transformation expertise of Sirius and Adani's strategic insights to focus on leading the $175 billion opportunity in digitalisation of the Indian economy.
This digital opportunity is rapidly evolving to becoming a $1 trillion market by 2030.
Sirius JV will deploy an integrated ecosystem of digital platforms by leveraging the expanding power of artificial intelligence (AI), internet-of-things and secured blockchain products across infrastructure industries and extending to areas that include fin-tech, health-tech and green-tech.
A spokesperson at Sirius International Holding 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 optimise industries, streamline processes and foster growth."
A spokesperson at Adani Enterprises added, "Inexpensive sensorisation 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 centers 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."
The Sirius JV intends to commence deployment of cutting-edge AI and enterprise blockchain products and services for industrial applications, while leveraging Adani Group's vast industrial testbed to validate and scale its solutions.
By integrating industrial digital solutions into their operations, companies are unlocking exponential levels of efficiency, productivity and innovation and in many cases completely reinventing their business models.
The completion of the transaction shall be upon satisfaction of customary closing conditions, including the receipt of necessary approvals.
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