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Reports indicate that the central bank of india plans to launch a cloud computing service in 2025.
The cloud platform planned by the Reserve Bank of india will be using local IT companies to compete with Amazon Web Services, Microsoft Azure, Google Cloud, IBM Cloud, and others, marking the first such initiative by major central banks globally. According to a report by the International Data Corporation (IDC), India's thriving cloud computing service market is estimated to reach $8.3 billion in 2023, projected to grow to $24.2 billion by 2028, but largely dominated by foreign companies. "We hope to start implementing on a smaller scale in the coming months," said one of the two insiders, a senior executive involved in the project.
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