Connect with us

News

PhonePe investing $200 million on building data centres

Published

on

NEW DELHI: Walmart-owned payment services provider PhonePe on Thursday said it is investing USD 200 million (around Rs 1,661 crore) on building data centres in the country, a top official said on Thursday.

The investments are driven by the regulatory insistence on data localisation, which prevents a financial sector entity from storing its data overseas, and other aspects, company’s co-founder and chief technology officer Rahul Chari said.

Speaking to reporters after the launch of a data centre facility at Navi Mumbai, Chari said PhonePe will be investing USD 200 million on data centres.

He said the company has already invested USD 150 million but did not specify a timeline for investing the remaining USD 50 million.

Chari said it is beneficial for a company like PhonePe to invest in captive data centres given the data localisation mandate from the regulators and also because of the ease or flexibility of operations it offers as compared to an operating expenses model.

Company’s co-founder and chief reliability officer Burzin Engineer said the USD 150 million investments will take the overall capacity to over 14 mega watt spread across three facilities in Bengaluru and the one inaugurated at Navi Mumbai on Thursday.

Engineer said the current investments will be able to take care of capacities needed to deliver on transaction loads expected by the end of the year.

Chari said at present, PhonePe is handling 120 million transactions per day with a peak of 7,000 per second, and the company expects the same to go to 200 million per day by end of the year and 500 million per day by end of next year.

PhonePe, NTT and Dell Technologies on Thursday launched what is billed as the country’s first data centre with a smart cooling technology.

Chari said the capital expenditure incurred is higher for the smart cooling data centre, but its expenses will go down after two years as the energy costs it consume are lower than the conventional data centres.

Source: Press Trust of India

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Cyber crime threat to India’s progress, security: Pramod Sawant

Published

on

PANAJI: Goa Chief Minister Pramod Sawant on Friday said cyber crime is a threat to India’s progress and security and cyber warriors need to be created to combat the menace.

Sawant was speaking at the International Conference on Information Security, Privacy and Digital Forensics (ICISPD 2022) at BITS Pilani campus in Vasco city, 35 km from here.

The chief minister said the importance of comprehensively addressing social media privacy issues cannot be underestimated and the challenge calls for skilled experts.

Cybercrime is a threat to the progress and security of our nation. The need of the hour is to create cyber warriors to combat cyber crime, he said.

Sawant stressed on the need for awareness, knowledge and skills about the emerging trends in cybercrimes and training in latest technologies of cyber security and computer forensics.

As per data from the National Crime Records Bureau, a total of 52,974 cases of cyber crime were registered, showing an increase of 5.9 per cent in registration since 2020, he said.

The crime rate in this category had increased from 3.7 per cent in 2020 to 3.9 per cent in 2021, he added.

In 2021, 60.8 per cent of cyber crime cases were of fraud, 8.6 per cent of sexual exploitation and 5.4 per cent of extortion, Sawant said.

He further said that two of the greatest inventions of the 20th century, the computer and the internet have changed the world.

It is interesting that children born at the start of this millennium can’t even imagine a world without internet connectivity and mobile devices, he said.

The positive side of the internet and related technologies became clear during the COVID-19 pandemic, the chief minister said.

When self-isolation and social distancing were essential to control the outbreak, internet helped people remain connected, make payments, buy essentials, and most importantly, do their work, Sawant said.

Source: Press Trust of India

Continue Reading

News

Tech Mahindra Inks MoU with Digital Economy Promotion Agency

Published

on

NEW DELHI: Tech Mahindra, a leading provider of digital transformation, consulting, and business re-engineering services and solutions, and Digital Economy Promotion Agency (depa), a government agency established under the Ministry of Digital Economy and Society of Thailand to promote development of digital industry and innovation and ascertain nationwide digital technology adoption in order to achieve economic, social, cultural, and security benefits, have signed a Memorandum of Understanding (MoU) to accelerate digital transformation in Thailand.

As a part of the partnership, both organizations will co-develop innovative digital solutions and execute commercially viable projects and use cases for enterprises in areas of IoT, AI, 5G, Analytics, Blockchain, and Metaverse for various industries including Smart Cities, Telecom, among others.

Rajesh Chandiramani, Business Head, Communications-Media-Entertainment for EMEA and APJI Markets, Tech Mahindra, said, “We started our Thailand operations in 2004, and today it has become one of the most strategic and growth markets for us. Our partnership with depa will unlock immense potential for us to build, develop, and market innovative solutions for our customers in Thailand and support them in their digital transformation journey. This partnership is a major step forward in strengthening the industrial competitiveness between Thailand and India. We will also work towards diversifying the talent pool in the region through various skilling and upskilling initiatives on multiple technologies like NFT, Blockchain, Metaverse, AI, Analytics, IoT, 5G, Machine Learning, Quantum Computing, and Cloud.”

Digital Economy Promotion Agency (depa) was established under the Digital Development for Economy and Society Act promulgated on 23 January 2017. The agency aims to support and promote the development of digital industry and innovation, support and promote digital technology adoption, which benefits the national economy, society, culture, and security according to Article 34 of the Act.

Dr Passakon Prathombutr, Senior Executive Vice President of Digital Economy Promotion Agency, said, “Thailand aims to become ASEAN’s digital hub, for which a digital workforce is vital. This partnership with Tech Mahindra will empower our talent development in key fields such as AI, Blockchain, and the Metaverse. Depa is building Thailand Digital Valley (TDV), a state-of-the-art digital innovation ecosystem in the Eastern Economic Corridor (EEC). TDV will become the digital and innovation hub for the entire region. Hence, this collaboration is strategic to the digital economy and society.”

This partnership is in line with Tech Mahindra’s NXT.NOW™ framework, which aims to enhance ‘Human Centric Experience’, and focuses on investing in emerging technologies and solutions that enable digital transformation and meet the evolving needs of the customer.

Continue Reading

News

Naveen Patnaik inaugurates Happiest Minds Development Centre at Bhubaneswar

Published

on

NEW DELHI: Happiest Minds Technologies Limited, a ‘Born Digital. Born Agile’, Mindful IT Company, announced the inauguration of a new Development Centre at Fortune Towers (5th Floor) in Bhubaneswar, taking forward its long-term investment plans for further expansion in the state in alignment with the Make in Odisha focus of the state government.

Under the ease of business initiative, the Odisha state government’s State Level Single Window Clearance Authority (SLSWCA) granted approval to Happiest Minds to set up a software development centre at Fortune Towers located in Bhubaneswar. Happiest Minds has earmarked Rs. 265 crore investment towards this initiative.

Naveen Patnaik, Honourable Chief Minister of Odisha, said, “Odisha has been taking giant strides in IT sector in recent years. The growth momentum is accelerating in IT space with growing confidence of IT companies on Odisha as an investment destination. Odisha is now fast emerging as a technology resource hub of India creating jobs for our youth.”

Ashok Soota, Executive Chairman, Happiest Minds Technologies said, “We are delighted to start the operation of our new development centre at Bhubaneswar. At Happiest Minds, we have always embraced our responsibility to create a mindful impact on our communities, and we are grateful to the Hon’ble Chief Minister Shri Naveen Patnaik and the state government officials for their support in establishing this centre. We praise the new IT policy of the state and are optimistic that it will become one of the most preferred destinations for skilled talent, promoting greater employment opportunities for the youth.”

Venkatraman Narayanan, MD & CFO, Happiest Minds Technologies said, “The rise of Bhubaneswar as a destination of choice for businesses is on an ever-rising curve. This is the basis of the industry-supporting initiatives of the state government, duly complemented by the burgeoning talent pool available in the city and nearby regions. Aligned with the ethos of Happiest Minds, the new development centre (Smiles 7) will help us meet evolving customer needs, accelerating our growth and the overall development of the state.”

Founded in 2011, Happiest Minds has consistently gained recognition as among the best places to work in India and Asia. The company has won the Golden Peacock Award for Excellence in Corporate Governance 2022. The company recently acquired additional space to expand its presence in Bengaluru and extended its development facilities in Noida.

Continue Reading

Trending