India News Asia | Tech Wire Asia | Latest Updates & Trends https://techwireasia.com/category/india/ Where technology and business intersect Fri, 11 Apr 2025 08:50:59 +0000 en-GB hourly 1 https://techwireasia.com/wp-content/uploads/2025/02/cropped-TECHWIREASIA_LOGO_CMYK_GREY-scaled1-32x32.png India News Asia | Tech Wire Asia | Latest Updates & Trends https://techwireasia.com/category/india/ 32 32 Jio’s open telecom AI platform: four tech giants forge India-led network revolution https://techwireasia.com/2025/04/jios-open-telecom-ai-platform-four-tech-giants-forge-india-led-network-revolution/ Fri, 11 Apr 2025 08:50:59 +0000 https://techwireasia.com/?p=241716 Open Telecom AI Platform aims to redefine network operations. Integrates-edge AI on all telecom layers. New partnership could position India as leader in telecom innovation. The Telecom AI Platform collaboration between Jio Platforms Limited (JPL), AMD, Cisco, and Nokia revealed at last month’s Mobile World Congress 2025 may represent a significant shift in how telecom […]

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  • Open Telecom AI Platform aims to redefine network operations.
  • Integrates-edge AI on all telecom layers.
  • New partnership could position India as leader in telecom innovation.
  • The Telecom AI Platform collaboration between Jio Platforms Limited (JPL), AMD, Cisco, and Nokia revealed at last month’s Mobile World Congress 2025 may represent a significant shift in how telecom networks evolve in coming years.

    The partnership focuses on developing an open AI framework for network operations, and comes as service providers worldwide face mounting pressure to improve efficiency and create new revenue streams.

    Announced on March 3, the alliance brings together expertise across RAN, routing, AI data centres, security, and telecom infrastructure to create what the companies describe as a “central intelligence layer” for telecom and digital services. The multi-domain intelligence framework aims to integrate AI and automation in all network operations, with Jio serving as the first implementation case.

    “We are building a multimodal, multi-domain orchestrated workflow platform […] for the telecom industry,” said Mathew Oommen, Group CEO of Reliance Jio. He highlighted the platform’s potential to transform networks into “self-optimising, customer-aware ecosystems.”

    Technical foundations and AI

    What sets the Telecom AI Platform apart is its technological approach. The platform will be LLM-agnostic and use open APIs, using multiple forms of artificial intelligence including agentic AI, general and domain-specific LLMs, Small Language Models (SLMs), and non-GenAI machine learning techniques.

    AMD’s chair and CEO Lisa Su heralded “more secure, efficient, and scalable networks,” made possible through the platform, which uses Cisco’s Agile Services Networking and Data Centre Networking, plus Nokia’s capabilities in RAN, Core, fixed broadband, and optical transport.

    India first, then global expansion

    The Open Telecom AI Platform’s first customer, Jio, describes a “replicable reference architecture and deployable solution for the broader global service provider industry.”

    The company hopes to position India as a front-runner in AI-driven telecom innovation. The timing of the project is significant, as telecom operators worldwide face increasing pressure to enhance network performance and offer new services beyond those of traditional telecom infrastructure.

    “The initiative goes beyond automation – it’s about enabling AI-driven, autonomous networks that adapt in real-time, enhance user experiences, and create new service and revenue opportunities across the digital ecosystem,” Oommen said.

    Real-world applications and benefits

    Industry analysts suggest the Telecom AI Platform could drive significant improvements in several key areas:

    1. Network security: Enhanced threat detection and prevention through AI-driven analysis across network layers
    2. Operational efficiency: Reduced total cost of ownership through automation and predictive maintenance
    3. Self-healing networks: Autonomous identification and resolution of network issues before they impact service
    4. Revenue generation: Creation of new AI-enabled services and applications for enterprise and consumer segments

    Potential timeline and global impact

    While specific deployment timelines weren’t disclosed in the announcement, the companies indicated that development is actively underway. The platform’s open architecture design suggests its impact could extend far beyond Jio’s network in India.

    The Telecom AI Platform represents a significant step toward what industry experts call “cognitive networks” – telecommunications infrastructure with embedded intelligence that can learn, adapt, and evolve autonomously. For global telecom operators watching this development, the platform could provide a blueprint for integration that addresses their most pressing challenges: reducing operational costs, enhancing security posture, improving customer experience, and developing new revenue streams.

    As telecom networks continue their evolution toward 6G and beyond, initiatives like this Telecom AI Platform may well determine which operators thrive in the future – and which countries will lead the next wave of telecommunications innovation.

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    Adarsh Developers suffer total data loss after cloud deletion https://techwireasia.com/2025/02/adarsh-developers-full-data-loss-s4hana-sap-aws-it-supply-chain-complexity/ Tue, 25 Feb 2025 11:36:59 +0000 https://techwireasia.com/?p=239894 Total data loss for Indian property developers. Courts to determine responsibility. Centralised assets create points of failure. The experiences of building developers Adarsh Developers at the hands of cloud provider AWS is a cautionary tale for those organisations entrusting their most valuable assets to the cloud. In May 2023, the company was persuaded to opt […]

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  • Total data loss for Indian property developers.
  • Courts to determine responsibility.
  • Centralised assets create points of failure.
  • The experiences of building developers Adarsh Developers at the hands of cloud provider AWS is a cautionary tale for those organisations entrusting their most valuable assets to the cloud.

    In May 2023, the company was persuaded to opt for a system upgrade by AWS to increase the security of its cloud-hosted assets. Adarsh Developers hosted its ERP platform, SAP S/4HANA, on AWS. Given that AWS and SAP held data vital to the company (including detailed financial records), the proposed update seemed like a sensible idea.

    Fast forward to January 9th this year, and the company discovered that as of 10:48am, the entire SAP S/4HANA platform had been wiped from AWS disks, thus bringing the business to a complete halt. With no customer data, supplier details, financial information – everything, in fact – it was as if Adarsh Developers no longer existed on AWS. According to The Hindu, the company has since estimated its losses at ₹5 crores (around US$576,500) per day since Jan 9.

    The Indian police have raised an FIR (first information report) against AWS under the IT Act, citing fraud and impersonation. Adarsh Developers states its financial losses due to the data outage are in excess of ₹100 crores (US$11.5 million), quoting this figure in the filing.

    The company’s SAP integration and consultancy partner, SAVIC, has investigated the massive data loss, and placed the blame at the doors of AWS, and/or its reseller, the Redington Group. The company claims in the FIR that the deletion of Adarsh Developers’ data was invoked “at root level” (meaning by an account with superuser privileges) by Redington personnel.

    AWS India, via a spokesperson to The Hindu, stated: “The claims against AWS are false. AWS operated as designed and is not responsible for the deletion […].” All the parties involved (SAVIC, Redington, AWS, and Adarsh Developers) have to submit technical data to back their stories.

    The case and the issues surrounding massive data loss from cloud providers throw into relief several issues that are continuing concerns of data professional, operations managers, cybersecurity personnel, and systems providers.

    • Any complexity in an IT supply chain increases the chances of data loss, and delays the identification of the root causes of critical issues (and therefore, their remediation),
    • Service centralisation in terms of computing platforms (using an ERP as opposed to multiple point-products) comes with inherent risk,
    • Provisioning a single cloud provider can create another point of failure.

    If there is one lesson to be learned from the experience of Adarsh Developers, it is that cloud providers are not responsible for maintaining the integrity nor even continuing existence of data stored with them, and, therefore, are not responsible any client’s business continuity. Although companies like AWS, Microsoft, and Google are household names, there is no guarantee that a business’s assets kept by them are inviolable. Even such ‘givens’ as Office 365 email continuing reliably have to be questioned, and companies should take steps to ensure their own data is quickly recoverable, regardless of hosting and platform(s).

    Whatever the eventual outcome of the Indian court proceedings, the victim in this case can’t hope to achieve enough compensation for its loss of business, reputation, and time. Cloud services are merely ‘someone else’s computer’. The realisation of the implications of centralisation, and in some cases, the high cost of cloud services is leading many organisations to adopt multi-cloud strategies, or take at least some of their critical systems back on-premise.

    Human error is the most likely cause of the disaster that has befallen Adarsh Developers, and the culprit being established is moot, apart from giving Adarsh a possible source of compensation. Mistakes, misconfiguration, or security lapses will happen, and investment in appropriate recovery processes is (or should be) as central to modern businesses as email and internet access.

    The most-publicised data losses stem from the activities of bad actors, either externally or in the guise of insider threats such as disgruntled employees. Simple human error gets little coverage.

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    Quick-commerce Zepto comes home for IPO https://techwireasia.com/2025/01/zepto-indian-ipo-home-from-singapore-float-investment-expansion/ Fri, 31 Jan 2025 13:16:33 +0000 https://techwireasia.com/?p=239771 In many sectors, an Indian IPO makes sense. More Indian companies return home for investment. Quick-commerce market heats up with Zepto. Growing Indian companies have a tendency to move around from nation to nation, depending on their stage of growth. Home-grown businesses seeking external investors are often to be found in Singapore, where foreign venture […]

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    • In many sectors, an Indian IPO makes sense.
    • More Indian companies return home for investment.
    • Quick-commerce market heats up with Zepto.

    Growing Indian companies have a tendency to move around from nation to nation, depending on their stage of growth. Home-grown businesses seeking external investors are often to be found in Singapore, where foreign venture capital is more readily accessible.

    For the highly successful outfit, there’s also the possibility of a listing on the London or New York stock exchanges, something that’s not allowed under Indian financial regulation.

    But several high-profile companies that spent time based abroad have returned to India in the last few years to float on the Indian stock exchange, including PhonePe and Groww. The latest to follow this path is Zepto, an online grocery and household items store, and a challenger to the incumbents of the quick-commerce space.

    The company is currently valued at US$5 billion, having raised US$1.35 billion while domiciled in Singapore. After its relocation back onto home turf, it plans to raise a further US$1.1 billion for an initial public offering (IPO) later this year.

    In the last four years, many companies have have floated on Indian stock exchange, with over 300 companies raising in excess of $20bn in 2024. The chairman of AIBI (Association of Investment Bankers of India), Mahavir Lunawat has stated that “India has successfully surpassed both the US and Europe with more than the number of IPOs [those exchanges have] listed.”

    However, the country’s securities market regulator (SEBI – Securities and Exchange Board of India) is considering measures to prevent unofficial share trading before upcoming IPOs. This comes after a flurry of black-market trading that has tarnished India’s emerging reputation as a place where domestic investors are well-funded enough to float businesses large and small.

    Indian IPO for micro and small business

    Unlike the large stock exchanges of London, New York and Tokyo, the Indian exchange has seen a wide range of company sizes successfully floating, including many SMEs. So-called ‘low float’ or ‘small equity size’ companies can use a share issue to make the leap from small concern to dynamic expansion.

    According to the Indian government, “the main feature of SME IPOs is that they provide an alternative method for SMEs to raise capital for their business. Unlike traditional loans, which require interest to be paid on repayment, equity funding through IPOs does not burden the small enterprise business with debt. This benefits SMEs looking to finance their expansion, development, and research.”

    In the past, companies like Flipkart have successfully launched themselves on foreign exchanges, but this strategy is no longer the only possibility, thanks to the Indian government’s pro-domestic, growth-oriented financial policies.

    Big companies like Zepto have their eyes on out-competing better known competitors, which in its case are Blinkit (previously Grofers), which tripled its revenue in the last financial quarter of 2024, and Swiggy, valued at US$13.3 billion.

    A burgeoning demand for food and grocery deliveries in India and the country’s high population (currently 1.5 billion people) mean that home-grown business talent and technical skill in this market can create massive success domestically, without having to look abroad for investment monies.

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    Wipro and Netskope partner for cybersecurity https://techwireasia.com/2024/12/wipro-and-netskope-partner-for-cybersecurity/ Fri, 06 Dec 2024 15:58:02 +0000 https://techwireasia.com/?p=239508 Wipro Limited, a leading technology services and consulting company, and Netskope, a leader in Secure Access Service Edge (SASE), have announced a new partnership, one that will provide worldwide enterprises with cybersecurity optimisation advisory services. The Wipro CyberTransformSM Optimisation Service, powered by Netskope, will help improve cybersecurity outcomes for technology investments, people, and processes by […]

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    Wipro Limited, a leading technology services and consulting company, and Netskope, a leader in Secure Access Service Edge (SASE), have announced a new partnership, one that will provide worldwide enterprises with cybersecurity optimisation advisory services.

    The Wipro CyberTransformSM Optimisation Service, powered by Netskope, will help improve cybersecurity outcomes for technology investments, people, and processes by analysing their current cybersecurity and infrastructure investments. Customers can benefit from consolidation guidelines for better efficiency and enjoy cost-optimised solutions that reduce expenses without compromising on security or performance.

    Global Head of Advisory Services, Cybersecurity and Risk Services at Wipro Limited, Saugat Sindhu, says this latest collaboration will help organisations manage the complexity of cybersecurity tools and technologies.

    “Many organisations today face the challenge of managing application sprawl with distributed technologies in their cybersecurity operations. Through this partnership with Netskope, we will be able to deliver tailored SASE business cases and comprehensive financial analyses, enabling our clients to optimise their cybersecurity spend and achieve superior performance outcomes.”

    The Wipro CyberTransformSM Optimisation Service combines Wipro’s Automated Regulatory Compliance (ArC) and Netskope’s Valueskope platform to help businesses maintain compliance and improve financial efficiency.

    ArC is a service that allows users to track any changes in industry-specific national and international regulations, ensuring compliance. Valueskope is an SaaS-based platform offering detailed financial analysis and tailored business cases.

    This latest partnership between Wipro and Netskope promises to streamline cybersecurity strategies, enhance compliance, and strengthen technology investments, resulting in improved performance and cost efficiency for global enterprises.

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    Equal secures $10M to battle India’s rising $14b digital fraud crisis https://techwireasia.com/2024/11/equal-secures-10m-to-battle-indias-rising-14b-digital-fraud-crisis/ Wed, 27 Nov 2024 22:32:20 +0000 https://techwireasia.com/?p=239433 Equal raises $10M Series A to combat rising cyber fraud in India. The Hyderabad-based fintech integrates 50+ identity databases and serves 350+ customers. Hyderabad-based identity verification startup Equal has raised $10 million in Series A funding, positioning itself at the forefront of the fight against digital fraud in India. The investment, led by Prosus Ventures […]

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  • Equal raises $10M Series A to combat rising cyber fraud in India.
  • The Hyderabad-based fintech integrates 50+ identity databases and serves 350+ customers.
  • Hyderabad-based identity verification startup Equal has raised $10 million in Series A funding, positioning itself at the forefront of the fight against digital fraud in India. The investment, led by Prosus Ventures at an $80 million post-money valuation, comes as India grapples with cyber fraud losses projected to exceed $14 billion—approximately 0.7% of the country’s GDP—in 2025.

    Founded in 2022 by Keshav Reddy and former Swiggy engineering director Rajeev Ranjan, Equal emerged at a critical time as India faces mounting challenges in digital fraud. The startup has quickly established itself as a critical player in fintech security, offering solutions that streamline know-your-customer (KYC) requirements, fraud prevention, and regulatory compliance.

    Equal’s platform connects over 50 identity databases and thousands of API providers, helping businesses struggling with digital verification and compliance. The comprehensive approach has resonated strongly with the market, as evidenced by the company’s impressive client portfolio, which has developed in just two years of operations.

    The startup has successfully onboarded over 350 customers, including industry giants such as State Bank of India, HDFC Bank, ICICI Bank, Reliance Jio, Airtel, Uber, and Zoom. This rapid adoption by major financial institutions and technology companies demonstrates the urgent market need for efficient identity verification solutions.

    Equal recently acquired a stake in account aggregator OneMoney to enhance its service offerings. The acquisition combines Equal’s identity verification capabilities with OneMoney’s consent-based financial data-sharing infrastructure.

    The Indian market for identity verification is becoming increasingly competitive, with established players like Perfios (backed by Warburg Pincus and Teachers’ Venture Growth), IDfy (backed by TransUnion), and Bureau (backed by GMO VenturePartners) also operating in the space. 

    However, Equal differentiates itself by positioning itself as an aggregator, even partnering with some competitors to provide more comprehensive solutions. A practical example of Equal’s impact comes from Upstox, one of its early customers. The trading platform processes approximately 350,000 transactions monthly through Equal’s system. 

    According to Upstox’s CEO Ravi Kumar, who has also invested in Equal, the platform’s cost-effectiveness and high uptime make it his preferred choice over building similar technology in-house. The fresh capital injection will scale Equal’s operations, expand its product suite, and help it forge strategic partnerships. 

    The expansion comes at a crucial time when the Indian government is introducing new regulatory requirements to combat fraudulent digital transactions, often placing additional technical burdens on businesses. Overall, the startup’s growth trajectory aligns with India’s broader digital transformation as the country—now the world’s most populous nation and second-largest internet market after China—becomes increasingly digitally active. 

    While beneficial for economic growth, the country’s digital shift has also exposed vulnerabilities in the financial system, including threats to government-backed systems like Aadhaar. Equal’s approach to addressing these challenges through technology and partnerships represents a step forward in India’s fight against digital fraud. 

    By providing businesses with tools to maintain regulatory compliance and streamline operations, Equal is positioning itself as a major player in India’s evolving digital security landscape.

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    India plans laptop import restrictions to drive domestic production https://techwireasia.com/2024/10/india-plans-laptop-import-restrictions-to-drive-domestic-production/ Fri, 25 Oct 2024 08:50:39 +0000 https://techwireasia.com/?p=239225 India plans to limit laptop imports to boost local production. Apple is expected to increase domestic manufacturing. India is planning to limit the imports of laptops, tablets, and personal computers starting January 2025, according to two government insiders. The goal is to push companies like Apple to ramp up their manufacturing efforts in the country, […]

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  • India plans to limit laptop imports to boost local production.
  • Apple is expected to increase domestic manufacturing.
  • India is planning to limit the imports of laptops, tablets, and personal computers starting January 2025, according to two government insiders. The goal is to push companies like Apple to ramp up their manufacturing efforts in the country, boosting the domestic economy.

    If the plan goes ahead, it could disrupt an industry valued between US$8 billion and US$10 billion and change how India’s IT hardware market operates, which currently depends heavily on imports.

    A similar proposal was put on hold last year due to resistance from companies and lobbying by the United States. Since then, India has monitored imports through a raft of governance that is set to expire this year. Firms are now required to seek new permissions for imports starting next year.

    Government authorities feel the industry has had enough time to adapt to the changes: According to one source, talks with all stakeholders will begin soon, and the limits may be delayed for a few months if necessary.

    As Reuters reported, the Ministry of Electronics and Information Technology (MeitY) is already working on a new system that would require companies to get prior approval before importing devices. Currently, importers can bring in as many domestic tech appliances as they like after completing a simple online registration.

    The Indian market is dominated by big players like HP, Dell, Apple, Lenovo, and Samsung, with two-thirds of India’s demand being met by imports, a large proportion of which comes from China. India’s IT hardware market is valued at around US$20 billion, but only US$5 billion of that is produced domestically, according to data from Mordor Intelligence.

    To improve the quality of devices entering the country, the government is also considering introducing minimum quality standards under its “compulsory registration order” for laptops, notebooks, and tablets. This would help weed out lower-quality products, according to officials.

    “We’re exploring these restrictions because global treaties prevent us from using tariffs on laptops and tablets. That limits our policy options to curb imports,” said one government official.

    The Ministry of Trade has stated that the final decision on the import management system will be made following thorough discussions with the electronics ministry and other stakeholders.

    The approach might greatly benefit local manufacturers such as Dixon Technologies, which has agreements with global brands like HP to manufacture laptops and computers in India. Dixon, for example, is aiming to produce 15% of the country’s total demand.

    Boosting local production and semiconductor ambitions

    According to an industry source involved in discussions with the government, the limits on imports should be aligned with India’s current domestic production capacity.

    India’s key production incentive scheme for IT hardware has already attracted major players such as Acer, Dell, HP, and Lenovo. According to the electronics minister, most of these companies are ready to begin manufacturing in the country. To further encourage local production, the government has also rolled out federal subsidies totaling roughly US$2.01 billion.

    India is making progress in semiconductor manufacturing, which is crucial for the electronics and IT hardware industry. In 2023, US chipmaker Micron announced a major investment in Gujarat to build an assembly and test facility for memory chips such as DRAM and NAND, establishing India as an essential player in semiconductor assembly.

    This was followed by further semiconductor initiatives, including Tata Electronics’ partnership with Taiwan’s Powerchip Semiconductor Manufacturing Corp (PSMC) to build a semiconductor fab in Gujarat, with a production capacity of 50,000 wafers per month. These efforts not only reduce reliance on imports but also align with India’s broader goal of technological self-reliance.

    Recent collaborations with global tech giants

    Global technology businesses are increasingly investing in India as part of a strategy to diversify supply chains and increase local production. Apple, for example, has dramatically increased its manufacturing presence in India. Cupertino has increased iPhone production through collaborations with Foxconn, Pegatron, and Wistron, in addition to building new retail shops. Other tech behemoths such as Dell, HP, and Lenovo have also increased local manufacturing, taking advantage of the Indian government’s production-linked incentive (PLI) schemes.

    According to the research firm Counterpoint, imports of fully-assembled laptops declined 4% in the first five months of 2024 compared to the previous year, as companies such as Lenovo and Acer increased local manufacturing, particularly for entry-level models.

    India has emphasised the importance of “trusted sources” for electronics and communication devices, particularly in light of increasing cybersecurity and data theft concerns. In 2022, Prime Minister Narendra Modi suggested that India should lessen its reliance on foreign countries for communication technology such as servers.

    In line with this, India intends to implement mandatory testing of “essential security parameters” for all CCTV cameras by April 2025.

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    India’s Paytm is in a crisis. What do we know about the fintech giant’s turmoil? https://techwireasia.com/2024/02/paytm-turmoil-unveiing-the-crisis-gripping-india-fintech-giant/ Mon, 05 Feb 2024 05:00:43 +0000 https://techwireasia.com/?p=237650 Paytm faces regulator scrutiny for possible questionable dealings between its banking arm and its payments app in India. The fintech giant also faces KYC lapses: thousands of unverified, single docs are used for many transactions to surpass limits, raising laundering concerns. RBI bars Paytm Bank from deposits or top-ups after February 29 and mulls license […]

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  • Paytm faces regulator scrutiny for possible questionable dealings between its banking arm and its payments app in India.
  • The fintech giant also faces KYC lapses: thousands of unverified, single docs are used for many transactions to surpass limits, raising laundering concerns.
  • RBI bars Paytm Bank from deposits or top-ups after February 29 and mulls license revocation in March.
  • Paytm, short for “Pay Through Mobile,” began its journey with a revolutionary idea – letting users make cashless transactions through their mobile phones. But it wasn’t until the whirlwind of India’s 2017 demonetization that Paytm soared to new heights. That year, Prime Minister Narendra Modi’s bold move shook up the cash-dependent economy, compelling many individuals and countless small merchants to seek alternatives. Amid the chaos, Paytm’s wallet emerged as the straightforward solution, drawing a massive influx of users. 

    Paytm emerged as a prime beneficiary of demonetization, witnessing a meteoric rise from 140 million users in October 2016 to a staggering 270 million by November 2017 following the demonetization program. The winds of change propelled Paytm to the forefront of India’s digital financial revolution. It has become a pioneering force, transforming how millions transact and engage with digital finance. 

    The platform provided a versatile and convenient solution for individuals and businesses, from small grocery purchases to utility bill payments. In short, Paytm’s success during demonetization contributed to the broader acceptance of mobile wallets in India. The platform’s simplicity and strategic marketing campaigns played a significant role in shaping the narrative around digital wallets as a reliable alternative to traditional currency.

    A QR code for Paytm is pictured at a shop in New Delhi on November 8, 2021.
    A QR code for Paytm is pictured at a shop in New Delhi on November 8, 2021. (Photo by Sajjad HUSSAIN/AFP).

    What is happening with Paytm in India now?

    Founded in 2010 by Vijay Shekhar Sharma, Paytm initially gained prominence as a mobile wallet but swiftly evolved into a comprehensive financial ecosystem. Over the years, Paytm has diversified its services, expanding beyond mobile wallets to offer various financial products. The platform now provides services ranging from digital payments, mobile recharges, and bill payments to insurance, wealth management, and even digital gold investments. 

    This diversification has positioned Paytm as a one-stop shop for various financial needs. By 2017, Paytm received approval from the Reserve Bank of India (RBI) to launch Paytm Payments Bank, a significant milestone in its journey. The Payments Bank allowed users to open savings accounts with zero balance requirements, seamlessly integrating banking services within the Paytm app. The bank is restricted from lending and can accept deposits of up to 200,000 Indian rupees. 

    For context, Paytm Payments Bank is primarily owned by Paytm (One 97 Communications), with a 49% stake, while the remaining 51% is held by Paytm’s chief executive and founder, Vijay Shekhar Sharma. The bank serves as a crucial banking partner for Paytm, holding funds from popular digital wallets within its operations. 

    All 330 million wallet accounts under the parent company are housed within Paytm Payments Bank, making it the repository for the money held in these wallets. However, It is noteworthy to know that on top of its immense success, Paytm was not short of challenges. Most recently, in a significant setback for one of India’s largest payment firms, the RBI has directed Paytm’s payments bank subsidiary to cease accepting new deposits in its accounts or popular wallets starting in March. 

    According to a report by Reuters, India’s central bank said it took action because of “persistent non-compliance and continued material supervisory concerns in the bank,” which it did not specify. The restriction, effective from March 1, 2024, follows a previous limitation imposed two years ago, preventing Paytm Payments Bank from onboarding new customers.

    Paytm Payments Bank was restricted from adding customers in March 2022 due to similar concerns but continued doing business with existing customers. It has been told to wind down most of its businesses this month. Moreover, local reports indicated that the banking regulator consistently raised concerns over various issues. 

    Sources reveal that apprehensions regarding money laundering and substantial financial transactions, amounting to hundreds of crores of rupees, between the well-known Paytm wallet and its less prominent banking arm prompted the RBI to take action against entities overseen by Vijay Shekhar Sharma. 

    It has also been disclosed that Paytm Payments Bank had numerous non-KYC (Know Your Customer) compliant accounts, with thousands of cases using a single PAN to open multiple accounts. Instances of transactions exceeding regulatory limits in minimum KYC pre-paid instruments, reaching crores of rupees, raised red flags for potential money laundering, as per sources.

    What is Paytm doing about the scrutiny by the Reserve Bank of India?

    Paytm's CEO on X.com
    Paytm’s CEO on X.com

    Paytm has committed to adhere to the RBI’s directives promptly. As part of compliance, it will discontinue its association with Paytm Payments Bank and exclusively collaborate with other banks. The company anticipates a potential adverse impact on its annual earnings before interest, tax, depreciation, and amortization (EBITDA), ranging from 3 billion rupees (US$36 million) to 5 billion rupees under the worst-case scenario.

    One 97 Communications (OCL), the parent of Paytm, said in an exchange filing that it would partner with other banks, not with Paytm Payments Bank (PPBL). “OCL has been working with other banks for the last two years. We will now accelerate the plans and move to other bank partners,” the company said.

    “Regarding the direction on termination of the nodal account of OCL and Paytm Payments Services Limited (PPSL) by February 29, 2024, OCL and PPSL are moving the nodal account to other large commercial banks,” it added.

    In a reportBloomberg claims that India’s banking regulator is considering canceling Paytm Payments Bank’s license as early as next month, potentially impacting the growth plans of Paytm, a troubled local fintech giant. The RBI is prioritizing the protection of depositors and may take action after the February 29 deadline, sources told Bloomberg.

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    VinFast makes huge EV investments in India    https://techwireasia.com/2024/01/vinfast-makes-huge-ev-investments-in-india/ Tue, 09 Jan 2024 00:30:45 +0000 https://techwireasia.com/?p=236922 VinFast will invest up to US$2 billion in EV in India. The investment includes the establishment of VinFast’s integrated electric vehicle facility in Tamil Nadu. India is hoping to become an EV hub in Asia.  The electric vehicles (EV) industry in India continues to experience significant growth, with investments coming in from both local and […]

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  • VinFast will invest up to US$2 billion in EV in India.
  • The investment includes the establishment of VinFast’s integrated electric vehicle facility in Tamil Nadu.
  • India is hoping to become an EV hub in Asia. 
  • The electric vehicles (EV) industry in India continues to experience significant growth, with investments coming in from both local and foreign EV manufacturers. While India may not be the biggest EV market in the world right now, the country has the potential to become a major EV hub in years to come.

    According to a report by Bain, the EV market in India is at an inflection point. In terms of sales, EVs accounted for about 5% of total vehicles sold between October 2022 and September 2023. But it’s estimated these figures could grow to encompass more than 40% of India’s automotive market by 2030, generating over US$100 billion in revenue.

    To achieve this, Bain’s report says the country needs concerted strategies that include new product development, go-to-market and distribution, customer segment prioritization, software development, and charging infrastructure. Several of these interventions will require category-specific stakeholder action.

    The Indian government has already introduced several initiatives to boost EVs in India. These include schemes and policies launched to support the manufacturing and adoption of EVs in India, such as:

    • Faster Adoption and Manufacturing of Electric Vehicles (FAME)-I & II: This scheme provides subsidies to buyers of electric vehicles, especially those used for public transportation or commercial use. The subsidy is linked to the battery capacity of the vehicle.
    • Phased Manufacturing Programme (PMP): This program aims to create a local supply chain for EV components and batteries, and to reduce the import dependence of the EV industry. It provides incentives and tax benefits to domestic manufacturers of EV parts and cells.
    • National Mission on Transformative Mobility and Storage: This mission focuses on creating a roadmap for the development and deployment of advanced battery technologies and storage solutions for EVs and other applications. It also supports the establishment of large-scale battery manufacturing plants in India.
    • Production Linked Incentive (PLI) Scheme for Advanced Chemistry Cells (ACC) Battery Storage: This scheme offers financial incentives to boost domestic production of ACC batteries, which are essential for EVs and renewable energy integration. The scheme envisages establishing a cumulative ACC battery manufacturing capacity of 50 GWh in India.
    • Production Linked Incentive (PLI) Scheme for Automobile and Auto Component Industry: This scheme provides financial incentives to promote the manufacturing of advanced automotive technologies, including EVs and their components.
    The EV industry in India is due for a boost.
    Dr. TRB Rajaa, Minister of Industries of the Government of Tamil Nadu was pleased with VinFast investment in India.

    Foreign EV manufacturers in India

    Currently, the biggest EV manufacturer in India is Tata Motors, which is a well-known car maker in India and the largest EV producer in the country. Tata Motors has launched several EV models, such as the Nexon EV, the Tigor EV, and the Tiago EV, and has also developed its own Ziptron technology for battery and motor performance.

    India is also home to several foreign EV manufacturers that have set up plants in the country. The foreign EVs manufactured in India are both for local markets as well as to be exported to other countries as well.

    The Indian government has already introduced several initiatives to boost EVs in India.
    The Indian government has already introduced several initiatives to boost EVs in India. (Image generated by AI).

    Currently, some of the foreign EVs in India include:

    • Hyundai – The South Korean automaker already has a presence in India with its conventional and hybrid vehicles. The company is planning to start producing EVs at its Talegaon factory in Maharashtra from 2025, with an annual capacity of 100,000 units.
    • MG Motor – The British-owned, Chinese-backed automaker that launched its first EV model, the ZS EV, in India in 2020. The company has a manufacturing facility in Halol, Gujarat, where it plans to increase its EV production capacity from 3,000 units per year to 10,000 units per year by 2022.
    • BYD: The Chinese EV maker has partnered with India’s Olectra Greentech to produce electric buses and vans in India. The company has a manufacturing facility in Hyderabad, Telangana, where it can produce up to 5,000 electric buses per year.

    Tesla is also expected to announce manufacturing plans in India this year. In fact, Tesla has been exploring the possibility of entering the Indian market for several years. However, the company has faced some challenges and delays due to the high import duties, regulatory hurdles, and infrastructure issues in India.

    Last year, Indian Prime Minister Narendra Modi met up with Elon Musk and was able to convince him to invest in the country. As such, there have been reports that Tesla is inching closer to an agreement with the Indian government to start importing and selling its EVs in India in 2024. The company is also reportedly considering the states of Gujarat, Maharashtra, and Tamil Nadu for setting up its first-ever manufacturing facility in India, which could be operational by 2025.

    VinFast will invest up to US$2 billion for EV in India.
    VinFast will invest up to US$2 billion for EV in India. (Image by VinFast).

    VinFast invests in India

    Following its global success, Vietnamese EV manufacturer VinFast has announced a partnership with the Tamil Nadu State Government in India to charge the development of green transportation in the country. VinFast and the state government will work towards a total investment of up to US$2 billion, with an initial commitment of US$500 million in the first phase of the project.

    The investment includes the establishment of VinFast’s integrated electric vehicle facility in Tamil Nadu. It is anticipated to generate approximately 3,000 – 3,500 employment opportunities locally. Situated in Thoothukudi, the VinFast Tamil Nadu project aims to evolve into a first-class electric vehicle production hub in the region, with an annual capacity of up to 150,000 units. Construction of the plant is anticipated to begin in 2024.

    Besides the economic benefits, the project will also pave the way for green transportation development, targeting 30% of newly registered private cars to be electric. This aligns with the state government’s initiatives to minimize carbon emissions in the transportation sector.

    “The MoU demonstrates VinFast’s strong commitment to the sustainable development and vision of a zero-emission transportation future. We believe that investing in Tamil Nadu will not only bring considerable economic benefits to both parties but will also help accelerate the green energy transition in India and the region,” commented Tran Mai Hoa, deputy CEO of sales and marketing at VinFast Global.

    Dr. TRB Rajaa, Minister of Industries of the Government of Tamil Nadu, stated, “EV manufacturing companies are not only important economic drivers but also powerful accelerators to the State’s green vision. We are delighted that VinFast has chosen to invest in Tamil Nadu to establish its integrated EV facility. Possessing robust capabilities and unwavering commitment to a sustainable future, I believe that VinFast will emerge as a reliable economic partner and substantial contributor to Tamil Nadu’s long-term development.”

    The green mobility project by VinFast is its biggest investment. The project will create many positive impacts on the economy and society. Both sides will also work together and explore options for setting up charging stations to promote a sustainable transportation future.

    The post VinFast makes huge EV investments in India    appeared first on TechWire Asia.

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    AI transforms meteorology in India for better weather forecasts https://techwireasia.com/2023/12/what-will-ai-weather-prediction-look-like-in-india-and-beyond/ Thu, 28 Dec 2023 01:30:29 +0000 https://techwireasia.com/?p=236702 AI in India is reshaping weather forecasting, tackling extreme weather with advanced predictions. Global meteorology shifts to AI, enhancing forecast accuracy, exemplified by China’s Fengwu model. AI in weather forecasting boosts disaster preparedness and resource management, both in India and globally. India is experimenting with AI to develop climate models, enhancing weather predictions. This is […]

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  • AI in India is reshaping weather forecasting, tackling extreme weather with advanced predictions.
  • Global meteorology shifts to AI, enhancing forecast accuracy, exemplified by China’s Fengwu model.
  • AI in weather forecasting boosts disaster preparedness and resource management, both in India and globally.
  • India is experimenting with AI to develop climate models, enhancing weather predictions. This is a crucial step as the country faces increasing torrential rains, floods, and droughts, according to a senior weather official.

    In recent years, global warming has intensified weather system conflicts, leading to rising numbers of extreme weather events in India. The independent Centre for Science and Environment reports that these events have caused nearly 3,000 fatalities in 2023 alone.

    Globally, weather agencies are increasingly focusing on AI for its potential to reduce costs and enhance prediction efficiency. The Met Office in Britain has said that AI could ‘revolutionize’ weather forecasting, and a recent Google-funded model has demonstrated superior performance to traditional methods.

    The critical role of accurate forecasts in India, and the use of AI

    Accurate weather forecasts are vital for India, home to 1.4 billion people, many of whom live in poverty. Being the world’s second-largest producer of critical crops such as rice, wheat, and sugar, the stakes are particularly high.

    The India Meteorological Department (IMD) currently relies on mathematical models run on supercomputers for its forecasts. The integration of AI with an expanded observation network is expected to produce higher-quality forecasts at a reduced cost.

    K.S. Hosalikar, the head of climate research and services at IMD, told Reuters that the department is developing AI-based climate models and advisories intending to enhance forecasting accuracy.

    The IMD has already implemented AI to generate public alerts for heatwaves and malaria-related diseases. Hosalikar mentioned plans to expand weather observatories to the village level, enabling more detailed data collection for improved forecasting.

    Recently, the Indian government expressed its intention to blend AI with traditional forecasting models and is establishing a center dedicated to exploring this approach through workshops and conferences.

    Saurabh Rathore, an assistant professor at the Indian Institute of Technology-Delhi, highlighted the cost-effectiveness of AI models. Unlike traditional methods, these models don’t require the expense of running supercomputers and can be operated from high-quality desktop computers.

    However, experts emphasize the need for better data to fully leverage AI’s capabilities. Parthasarathi Mukhopadhyay, a climate scientist at the Indian Institute of Tropical Meteorology, explained that spatially and temporally high-resolution data is essential for AI models to effectively enhance the location-specific accuracy of existing forecasts.

    International perspectives: AI in global weather forecasting

    Outside of India, China has also announced its utilization of AI to refine weather forecasting, particularly for weather disasters exacerbated by heatwaves, heavy rains, and typhoons. The Shanghai Artificial Intelligence Laboratory, in collaboration with China’s National Meteorological Center and Shanghai Meteorological Service, employed its AI-driven Fengwu meteorological model to enhance typhoon predictions.

    The accuracy of Fengwu in forecasting Typhoon Doksuri, China’s strongest typhoon of the summer, was notably superior to that of both the European Centre for Medium-Range Weather Forecasts (ECMWF) and the US National Centers for Environmental Prediction (NCEP). Similarly, for Typhoon Khanun, Fengwu’s predictions outperformed those of ECMWF and NCEP.

    Developed by various Chinese institutions and published in April, the Fengwu model uses multimodal and multitask deep learning technology. It delivers high-resolution atmospheric forecasts over ten days and operates efficiently on a single graphics processing unit. This model can generate ten-day global weather forecasts in just 30 seconds, significantly improving on traditional models that rely on supercomputers.

    While AI weather prediction shows considerable promise, researchers acknowledge the need for further improvements. Their goal is to achieve district-level accuracy and eventually extend these predictions to the street level.

    The AI model can do 10 days' weather forecast in just 10 seconds - AI in India.
    The AI model can do 10 days’ weather forecast in just 10 seconds. (Source – X).

    AI models like Fengwu and Pangu Weather, another model developed in China, are enhancing the efficiency of weather forecasting. Although predicting weather remains inherently challenging, these AI models are expected to complement traditional physical models. They provide valuable insights for various sectors and Earth science research, supporting initiatives in carbon neutrality, disaster prevention, and energy security.

    Despite the success of traditional numerical weather prediction, its progress is hampered by the slow growth of computing power and the complexities of physical models. AI forecasting methods, which have lower computational costs, are seen as a solution to these challenges.

    Pangu Weather, developed by Huawei Cloud and recognized in a publication by Nature, employs a 3D neural network and a hierarchical temporal aggregation strategy to process complex meteorological data. Its accuracy surpasses that of some European and American meteorological centers, and the model is accessible online to users worldwide.

    The Fengwu and Pangu models have demonstrated their capabilities in recent typhoon predictions. China’s Central Meteorological Observatory plans to continue integrating AI into weather forecasting, particularly for typhoon monitoring. This will involve collaboration with various universities and research institutions to enhance global weather prediction and services.

    Private sector engagement in AI weather services

    Companies in other Asian countries, such as Thailand and Vietnam, increasingly use AI to protect clients from weather-related disasters. Following a flash flood in 2021 that caused significant damage, an electronics factory in Thailand’s Bangpoo industrial park enrolled in a pilot forecast service offered by Weathernews, a Japanese weather firm. Started early in 2023, this service provides real-time, hyperlocal forecasts, predicting weather changes within three hours, significantly improving the Thai Meteorological Department’s daily regional forecasts.

    Weathernews’ AI system collects and analyzes data to provide these precise forecasts, alerting clients to potential squalls and floods. This lets businesses take preventative measures such as erecting barriers or relocating equipment. Additionally, the company is collaborating with local authorities to install radar systems in Thailand, intending to match the forecast accuracy achieved in Japan.

    Weathernews fully launched its AI-based forecasting service in Thailand in March, and in Vietnam in June, becoming the first in Asia to set up its own equipment and offer such a service. Primarily serving logistics providers, the company aims to expand its client base to 500, including electronics and auto manufacturers, to increase its annual revenue in Thailand and Vietnam to 3 billion yen (approximately US$22.6 million).

    Chihito Kusabiraki, the company’s president, aims to boost overseas revenue to 70% to 80%, up from the current 40%. This expansion is crucial as Asian countries, characterized by dense populations and slow advances in disaster management, are particularly susceptible to natural disasters. According to the Asian Development Bank, developing Asia accounted for 76% of disaster victims and 25% of the global monetary damage from natural disasters between 2010 and 2020, highlighting the critical need for advanced forecasting services in these regions.

    In 2021, weather and water-related hazards resulted in damages amounting to US$35.6 billion in Asia. Notably, the Philippines was ranked as the most disaster-prone country in the WorldRiskIndex, underscoring the region’s vulnerability to such events.

    Startups are tapping into weather-related opportunities across Asia as well. California-based Atmo is developing an early warning system for flash floods and cyclones in Indonesia and is currently in discussions with neighboring countries. Meanwhile, Tokyo-based Spectee is utilizing social media data for disaster mapping in the Philippines and is planning to establish a local unit to extend the services already provided to 700 clients in Japan.

    Since 2018, China’s Ninecosmos has advised companies, including China’s COSCO Shipping, on optimal shipping routes based on weather conditions. Additionally, it has developed an air pollution forecasting service, further expanding its range of meteorological solutions.

    However, the success of these weather-related services in Asia hinges on developing affordable, locally tailored solutions. Products designed for advanced economies may prove too costly for emerging Asian markets, emphasizing the need for region-specific adaptations.

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    India anticipates first homegrown chip from Micron by December 2024 https://techwireasia.com/2023/12/can-micron-debut-first-made-in-india-chip-by-dec-2024/ Thu, 07 Dec 2023 01:00:08 +0000 https://techwireasia.com/?p=236174 The upcoming facility by Micron, set to be the inaugural semiconductor plant in India, will produce the first locally made semiconductor chip in precisely one year. Micron will focus on the assembly and testing of DRAM and NAND products to cater to the demands of both domestic and international markets. The questions will be whether […]

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  • The upcoming facility by Micron, set to be the inaugural semiconductor plant in India, will produce the first locally made semiconductor chip in precisely one year.
  • Micron will focus on the assembly and testing of DRAM and NAND products to cater to the demands of both domestic and international markets.
  • The questions will be whether Micron can meet its deadline, and how many other manufacturers will follow it.
  • Not long ago, the Minister of Electronics and Information Technology in India, Ashwini Vaishnaw, announced that a semiconductor assembly and testing facility, valued at US$2.7 billion, is being built in Gujarat by US memory chip giant Micron Technology. The new facility will be completed in stages, but the initial phase is expected to be operational by late 2024. In other words, by December 2024, India is set to produce its first domestically manufactured chips with Micron. 

    “In December 2024, we should see the first made-in-India chip coming out of the Micron plant. This has given huge momentum and confidence to the entire semiconductor industry worldwide,” Vaishnaw told Forbes India in September this year. The Minister noted that Micron’s plan had triggered inquiries worldwide and that in the following months, India has received more semiconductor proposals. 

    “India has excellent expertise in design already. Skill and talent are part of our semiconductor policy, which is succeeding very well. It’s a very systematic way we are working with the industry to get this skill,” he added. Micron’s second phase of the facility is slated to commence in the latter half of the decade, creating up to 5,000 new direct jobs.

    Ashwini Vaishnaw, the Union Cabinet Minister for Railways, Communications, Electronics and Information Technology speaks during a press conference at a railway station in Srinagar on March 25, 2023. (Photo by TAUSEEF MUSTAFA / AFP).
    Ashwini Vaishnaw, the Union Cabinet Minister for Railways, Communications, Electronics and Information Technology speaks during a press conference at a railway station in Srinagar on March 25, 2023. (Photo by TAUSEEF MUSTAFA / AFP).

    Micron specializes in producing Dynamic Random Access Memory (DRAM) and NAND products. DRAM serves as the primary memory or RAM in devices, temporarily storing data and instructions for processor execution. NAND is a non-volatile storage device retaining data without power, similar to a portable flash drive. 

    Of the comprehensive investment of US$2.75 billion, Micron is set to contribute up to US$825 million across the two project phases, with the remaining assets to be sourced from both central and state governments. The Indian central government will provide 50% fiscal support for the overall project expenditure, and the state of Gujarat will offer incentives equivalent to 20% of the total project cost to the memory chipmaker.

    The inaugural high-end semiconductor fabrication facility set to emerge in India will feature complete automation, covering hardware and system processes from assembly to testing. Inventory and warehouse storage will be automated for efficiency. Micron plans to implement advanced process controls and smart manufacturing solutions in the 1.4 million-square-foot facility, including 500,000 square feet of clean room space. 

    While the facility is expected to be operational by the end of next year, Micron will gradually increase capacity based on global demand. 

    Besides Micron, how is the Semicon India program doing?

    Supported by the Indian government’s US$10 billion ‘India Semiconductor Mission‘ aimed at boosting the country’s semiconductor manufacturing ecosystem, potential manufacturers have, since December 2021, been able to access financial incentives covering up to 50% of costs of marketing, packaging, outsourced assembly, testing units, and development and deployment.

    Anil Agarwal, the chairman of Vedanta, a British mining and metals group, has said people should expect “Vedanta made-in-India chips” by 2025. Agarwal revealed in late July that there are ongoing discussions with three companies for distinct partnerships in foundry, chips, and packaging/testing for Vedanta semiconductor unit in India. In an exclusive conversation with Mint, Agarwal expressed optimism that these collaborations should materialize within the next few months.

    Vedanta has chosen Dholera, an undeveloped area in Gujarat, as the site for India’s first ‘semicon city,’ an area comparable in size to Singapore. Recently, AMD, a US-based semiconductor design company, opened its largest global design center, covering 500,000 square feet, in Bengaluru.

    https://x.com/AshwiniVaishnaw/status/1729538976447336898?s=20 

    This facility, encompassing 60,000 sq ft of research and development (R&D) labs, will house 3,000 engineers focusing on semiconductor technology design and development, such as 3D stacking, AI, and machine learning. Initially, with four operational floors for around 1,000 employees, the facility constitutes 25% of AMD’s total US$400 million investment, as previously stated by Mark Papermaster, the company’s chief technology officer.

     

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