An alliance has been forged between Gautam Adani’s Adani Enterprises Limited (AEL) and a unit of Abu Dhabi’s International Holding Company (IHC) to deploy artificial intelligence, internet of things and blockchain products. The aim is to tap India’s $175 billion digital economy.

The new entity will be named Sirius Digitech International Limited (Sirius JV). To be based in Abu Dhabi, AEL’s wholly owned unit Adani Global Limited holding the 49 per cent share and IHC’s Sirius International Holding will take the remaining 51 per cent.

The venture is expected to develop cutting-edge artificial intelligence (AI) and enterprise blockchain products, along with industrial applications. Plans are afoot to extend offerings in FinTech, HealthTech and GreenTech.

This digital opportunity is rapidly evolving to become a $1 trillion market by 2030,” a statement said. “Sirius JV will deploy an integrated ecosystem of digital platforms by leveraging the expanding power of AI, Internet of Things and secured blockchain products across infrastructure industries and extending to areas that include FinTech, HealthTech and GreenTech,” it added.

AEL is the flagship entity of Adani Group, chaired by Gautam and with revenues of around $32 billion last year. Adani Group has businesses in various sectors, including ports, aviation, energy, food and infrastructure.

“The power of compute and the ability to deliver green energy to data 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 today,” a spokesperson at Adani Enterprises said.

“We are pleased to embark on this transformative journey alongside Adani Enterprises,” a spokesperson at Sirius International Holding said. “The partnership reflects a formidable commitment to address key challenges and unlock unprecedented opportunities in the rapidly evolving digital landscape. We believe that Sirius’ 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”.

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. The completion of the transaction shall be upon satisfaction of customary closing conditions, including the receipt of necessary approvals. – Roopa Kurian is Associate Editor of Nrifocus.com