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AMD to invest $400 million in India by 2028: Here’s what we know

US chipmaker Advanced Micro Devices said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru. AMD’s announcement was made by its Chief Technology Officer Mark Papermaster at an annual semiconductor conference that started Friday in Prime Minister Narendra Modi’s home state of Gujarat. Other speakers at the flagship event include Foxconn Chairman Young Liu and Micron CEO Sanjay Mehrotra. Despite being a late entrant, the Modi government has been courting investments into India’s nascent chip sector to establish its credentials as a chipmaking hub. AMD said it will open its new design centre campus in Bengaluru by end of this year and create 3,000 new engineering roles within five years. “Our India teams will continue to play a pivotal role in delivering the high-performance and adaptive solutions that support AMD customers worldwide,” Papermaster said. The new 500,000-square-foot (55,5...
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Amazon Pay to soon start facilitating small loans and insurance for kirana shops

Amazon via its Amazon Pay service will soon start facilitating small loans and insurance for kirana shops according to a report by Live Mint. Apart from this, the report also reveals that offline merchant partners will also be able to generate their own QR codes using the ‘Amazon Pay for Business’ app.

The company claims to currently have signed up close to 5 million merchants under its payments and financial services arm. Now the company according to the report is planning to bring around a million offline kirana stores on to its online platform by 2025 under its Local Shops programme.

During an interview with Live Mint, Amazon Pay India director and chief executive, Mahendra Nerurkar said, that the company is looking to offer new services on its business app and is still trying to understand the product, market-fit for its new offerings for kirana stores. Further stating that the two big areas of expansion would be the digitizing of cash and scaling its credit offering.

Nerurkar stated the reason behind it focusing on two digitizing of cash and scaling its credit offering, is because the credit will allow the customers to consume more and the digitization of cash will allow the company to offer the customers more services at a later point.

Amazon India recently even acquired Perpule to help kirana partners manage and automate inventory, send purchase orders and manage billings.

To recall, Amazon Pay last year also launched a Smart Store, which allowed users to scan QR codes at offline shops and explore all the products that are in inventory inside the shop.



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