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Bitfury to Set up a Blockchain Innovation Centre in Hyderabad

The Bitfury Group, the largest full-service blockchain technology company in the world, plans to establish a Blockchain research and innovation centre in Hyderabad

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Blockchain District on Saturday forged new partnerships with Bitfury and Indian School of Business (ISB). Pixabay

The Bitfury Group, the largest full-service blockchain technology company in the world, will establish a Blockchain research and innovation centre in Hyderabad.

Bitfury, a billion-dollar tech giant on Saturday entered into a partnership with Telangana’s Blockchain District in this regard.

It will also offer courses, necessary incubation and mentoring support to all associated members.

Blockchain District on Saturday forged new partnerships with Bitfury and Indian School of Business (ISB).

ISB will be offering co-working space, access to investor network, business expertise and many more benefits to Blockchain District startups.

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Bitfury will also offer courses, necessary incubation and mentoring support to all associated members. Pixabay

Jayesh Ranjan, Principal Secretary, Infornation Technology, Electronics and Communications Department, Government of Telangana launched Blockchain District logo and website on the occasion.

Ranjan said that after several rounds of consultations with industry and academia, the government conceptualized Blockchain District, which aims to be among the world’s top 10 leading Blockchain technology ecosystem by proactively driving key initiatives for developing talent pool, infrastructure, research and innovation and community building.

“Blockchain District provides a platform which enables the stakeholders to collaborate, co-create and build solutions in blockchain technology, which today is at a nascent stage, but has enormous potential in the coming years,” said Ranjan.

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The Bitfury Group, the largest full-service blockchain technology company in the world, will establish a Blockchain research and innovation centre in Hyderabad. Pixabay

“Telangana being the hub of innovation and technology would always strive to be the first mover in tech-domains,” he added.

Government of Telangana, IIITH, C-DAC and Tech Mahindra are the founding members of Blockchain District.

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MLR Institute of Technology was also onboarded to extend support in research and development and incubation. (IANS)

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Xiaomi Smartphones Sold in India are Made in The Country Itself

Xiaomi phones in India are manufactured mainly by Taiwanese giant Foxconn, also known as Hon Hai Precision Industry Co. Ltd

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Xiaomi said it has also started exporting phones made in India to Bangladesh and Nepal. Wikimedia Commons

Almost all of the phones that Chinese smartphone maker Xiaomi sells in India are made in the country, a top company executive said here on Monday, stressing that ‘make in India’ Xiaomi smartphones are now being exported to other countries too, though at a small scale.

“About 99 per cent of the phones sold in India are made in the country. We make three phones per second,” Muralikrishnan B, Chief Operating Officer, Xiaomi India, told reporters here.

Xiaomi phones in India are manufactured mainly by Taiwanese giant Foxconn, also known as Hon Hai Precision Industry Co. Ltd.

The manufacturing is being done at Xiaomi’s two facilities — one at the Sri City special economic zone in Andhra Pradesh and the other at Sriperumbudur in Tamil Nadu.

Xiaomi said it has also started exporting phones made in India to Bangladesh and Nepal.

“We have started exporting to these two countries at a small scale. With more government incentives, we plan to scale up the export of ‘make in India’ phones,” Muralikrishnan noted.

“We will have to see if we can manage the entire logistics. Ultimately, we will have to realise that cost efficiency also matters,” he added.

The COO of India’s biggest smartphone seller said that there are various issues hindering export of its ‘make in India’ products to other countries including certification issues and low rate of duty drawbacks.

“BIS certification is not accepted in many parts of the world. If the government can make BIS certification accepted in countries in Europe, it would help us scale,” he said, adding that India has a lot to learn from Vietnam in terms of incentivising domestic manufacturing.

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Almost all of the phones that Chinese smartphone maker Xiaomi sells in India are made in the country, a top company executive said here on Monday, stressing that ‘make in India’ Xiaomi smartphones are now being exported to other countries too, though at a small scale. Pixabay

About 65 per cent of Xiaomi phone components are also sourced from within the country.

“In terms of manufacturing, the progress that India has made in the past 5 years is phenomenal,” said Foxconn India Country Manager Josh Foulger.

Besides initiatives under ‘Make in India’, the corporate tax relief and improvement in ease of doing business have helped a lot, he added.

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Significantly, all the operators at Foxconn’s Sri City facility for Xiaomi are women. The facility employs over 15,000 people. (IANS)