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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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Crypto may be regulated not banned, FM Nirmala Sitharaman shares a big update

Finance Minister Nirmala Sitharaman shares a big update on the upcoming cryptocurrency bill in India earlier on Tuesday. At Rajya Sabha, Sitharaman rubbished rumours around the crypto ban in India.

Since the announcement around the introduction of the crypto bill, reports suggested that the Indian government will consider banning crypto in the country. The latest update from Sitharaman suggests otherwise.

The key objective behind the upcoming bill is “to create a facilitative framework for the creation of the official digital currency to be issued by the Reserve Bank of India.”

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Crypto ban: Regulation to come in place

FM highlighted that the Indian government will come up with a new bill on cryptocurrency much sooner than expected. She said that the bill will be introduced once the cabinet clears. She further revealed that the previous bill has been reworked.

Sitharaman said that the government has not taken a call on banning advertisements by crypto exchanges for now. The final decision will be taken once the bill is introduced in the days to come. FM also warned people investing in crypto. She said that people should be careful while investing in cryptocurrency.

“Government has started an awareness campaign to alert people but I agree more can be done to sensitize the public. Risk that cryptocurrencies can lead to undesirable activities is being closely monitored. It is being discussed at various levels,” she said.

Meanwhile, reports suggest that the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 will impose a ban on all private cryptocurrencies in India. Several reports also suggest that the Indian government might consider bringing an official digital currency, which is to be issued by the Reserve Bank of India (RBI).

In this case, the definition of private cryptocurrencies has not been revealed yet. However, some reports suggest that all top cryptos such as Bitcoin, Ether, and several others will continue to be in use. We must wait

The post Crypto may be regulated not banned, FM Nirmala Sitharaman shares a big update appeared first on BGR India.



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