The Modi government is proposing a bill to regulate blockchain technology and is likely to launch an official virtual currency, while Acer and local manufacturer Dixon Technologies are partnering up to increase local manufacturing of laptops.
Modi administration reportedly ban cryptos
According to Bloomberg, the Indian cabinet is planning to ban all private cryptocurrencies and to create an official virtual coin. The news led to a sharp fall of up to 12% in Bitcoin traded in the Indian rupee last week.
Acer and Dixon Technologies to manufacture laptops in India
According to Business Standards, the two companies said in a joint statement last week that Dixon will be producing Acer laptops in Noida, India with an annual production capacity of up to 500,000 units. Dixon Technologies is one of the qualified for the government’s PLI subsidies for IT hardware manufacturing.
ByteDance shuts down EdTech in India
According to Economic Times citing Tech Crunch is saying that Chinese tech firm ByteDance is dismissing its EdTech team in India, but online learning app SnapSolve and streaming service Resso will remain operational.
Samsung to hire 1,000+ engineers straight out of campus
According to Business Insider India, Samsung is recruiting more than 1,000 engineers from India’s top engineering colleges including IITs, BITS, and Pilani. The job openings are at the South Korean electronics giants’ R&D centers located in Bangalore, Delhi, and Noida.
Gaming grows at a faster rate than social media in India
According to Economic Times citing a report by Boston Consulting Group and Sequoia as saying that India’s gaming sector has been growing at a CAGR of 37% since fiscal 2019, much faster than 11-26% growth seen in the social media sector. Mobile gaming is responsible for nearly 90% of the gaming sector in India. Digi Times