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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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WhatsApp Pay India head Vinay Choletti quits after 4 months

Vinay Choletti, Head of WhatsApp Pay in India, has quit within four months in the job, as digital payments industry soars in the country. Choletti replaced Manesh Mahatme, who joined WhatsApp from Amazon, in September this year. “As I move on to my next adventure, I strongly believe that WhatsApp has the power to phenomenally transform digital payments and financial inclusion in India and I look forward to seeing it leverage its potential in the coming years,” Choletti wrote in a LinkedIn post.

“I am humbled to see the customer adoption of novel use cases using WhatsApp Pay and I will wear these badges proudly for the rest of my life,” he added. Late last year, the National Payments Corporation of India (NPCI) approved increasing the user cap for WhatsApp’s payment service from the current 20 million to 40 million users.

WhatsApp received the nod from NPCI in April this year to expand the payment service to 100 million users. Mahatme worked at WhatsApp Payment for nearly 18 months and according to Meta, he has played an important role in expanding the access to ‘payments on WhatsApp’ in India.

Mahatme had joined as Director and Head of WhatsApp Pay in April last year. According to the data revealed by NPCI, WhatsApp Payments registered a total of 23.04 million transactions (2.3 crore) and the volume is at 429.06 crore. While the instant messaging platform has witnessed growth in June 2022, the spike can be partially attributed to the various cashback offers by the instant messaging application. The relatively low transaction value can be a strong indicator that WhatsApp campaigns played an important role in this spike of transaction volume.

Google Pay is still one of the most successful apps in terms of UPI transactions. The app registered a total of 200 crore transactions in June 2022. However, the transaction volume was a hefty 3,55,137.20 crore. PhonePe registered even more transaction volume of over 273 crore. The transaction value is also pretty high at Rs 5,01,474.48 crore.

While WhatsApp’s current reach may seem to be puny when compared to the industry leaders. The instant messaging application has a massive userbase in India and it may witness further progress in the coming months. WhatsApp recently got approval from NPCI to expand its user base to 100 million. Earlier it was limited to 40 million only. We can expect WhatsApp to catch up to GPay and PhonePe owing to its wide reach.

With Inputs from IANS

The post WhatsApp Pay India head Vinay Choletti quits after 4 months appeared first on BGR India.



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