29 Feb, 2020
TechCircle’s podcast TechThisWeek brings you news and insights, wrapped up in a weekly roundup of the following hand-picked developments in the startup and enterprise technology ecosystems in India.
- The week comes to an end with the big announcement of The Department for Promotion of Industry and Internal Trade (DPIIT) allowing 100% FDI (foreign direct investment) for insurance intermediaries. The move will see entry of foreign brokerage firms in India through strategic partnerships, and is likely to boost the penetration and distribution of insurance products in the country.
- It was a good week for digital payments companies as BharatPe and Flipkart-owned PhonePe secured investments of $75 million and $60 million respectively. While PhonePe was an internal infusion, BharatPe received funding from Coatue Management and Ribbit Capital.
- In a report published by consultancy firm Subex, New Delhi was ranked number two in the world with the most number of cyberattacks in 2019 among a list of 50 cities. According to the report, critical public network infrastructure was attacked the most, followed by sectors such as banking, defense and manufacturing.
- We had Microsoft’s CEO Satya Nadella in India this week. During his visit to Mumbai, he urged the country's industry captains to accelerate their digital transformation journey. He was on a tri-city agenda this time and addressed a developer crowd in Bengaluru and the Young Innovators Summit in New Delhi.