Google plans to provide Hinglish support for Indian users while Samsung plans to expand its manufacturing facilities in India.
Samsung to increase production capacity in India and Indonesia
According to the Elec, Samsung produces 182 million smartphones in Vietnam, about 61% of its total production of smartphones, but plans to shift production capacity of 19 million units to India and Indonesia where the manufacturer plans to expand facilities.
Paytm slides 27% on first day of trading
According to Economic Times, India's largest IPO by fintech Paytm was halted trading on its debut day after tumbling 27% to INR1,564(US$21). In the same month, Nykaa, Fino Payments Bank, and Plicybazzar also went public in India. Nykaa and Policybazzar each closed at 96% and 22.7% higher while Fino closed at 5.5% lower.
Google to provide support for Hinglish in India
According to TechCrunch, Google will provide support for Hinglish in India and add new features to Google Pay to reach more Indian users. The payment service was launched in India four years ago and will see a new feature that allows users to split payments between family and friends.
Mensa Brands shortly broke US$1 billion valuation
According to Nikkei Asia, Mensa Brands became a unicorn startup within six months since established thanks to the post-COVID consumption boost. CEO Ananth Narayanan said the company has grown three times bigger than they originally planned.
RBI cautions financial instability induced by crypto technology
According to Economic Times, the Reserve Bank of India (RBI) cautioned that cryptos could destabilize the financial system and there are serious concerns over macroeconomic and financial stability that will need deep discussion.
