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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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UPI transactions value cross $100 billion for the first time in October: NPCI

In the latest data release, the National Payment Corporation of India (NPCI) has revealed that India has witnessed a Rs 7.7 lakh crore (over $100 billion by value) digital transactions via unified payments interface (UPI) this month (October) for the first time. The reason behind this surge is record festive shopping across e-commerce platforms. The report reveals that the digital payments witnessed 4.2 billion UPI transactions in total.

In September, the NPCI recorded digital payments worth Rs 6.54 lakh crore via 3.65 billion UPI transactions.

Currently, PhonePe, Google Pay and Paytm are the leaders in the digital payments space. PhonePe registered digital transactions worth Rs 3.06 lakh crore and Google Pay Rs 2.5 lakh crore in September.

PhonePe currently has over 325 million registered users. The platform is also accepted at over 22 million merchant outlets across India.

A PhonePe Pulse study in September revealed that over 300 million Indians from 19,000 pin codes now use digital payments.

Four out of every five PhonePe monthly active users are from Tier 2 and 3 cities, and two out of every three users are from Tier-3 towns.

Over 63 percent of first-time transactions on the PhonePe app are to transfer money, confirming that this category acts as the initial hook for customers to download a UPI app.

PhonePe registered 182 percent growth in transactions for this category and 72 percent growth in customers between Q2 2020 and Q2 2021.

(With inputs from IANS)

The post UPI transactions value cross $100 billion for the first time in October: NPCI appeared first on BGR India.



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