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Economic Times
08-07-2025
- Business
- Economic Times
X decries India's censorship; Indian electronic cos ditch China
Elon Musk's X said India blocked over 2,300 accounts, including the official handles of the global news agency Reuters. This and more in today's ETtech Top 5. Also in the letter: ■ Startup hiring rebounds■ Why AI needs humans■ Gates slips billionaire ranks India blocks (then unblocks) Reuters on X India briefly ordered X (formerly Twitter) to block 2,355 accounts, including its main @Reuters handle, before rapidly backtracking after public backlash. Driving the news: On July 3, the Ministry of Electronics and IT instructed X to block these accounts under Section 69A of the IT Act. The order gave X only one hour to comply without explanation and directed that the blocks remain in place 'until further notice.' Following criticism, the Reuters handles (@Reuters and @ReutersWorld) were restored the same day. The ministry claimed it hadn't ordered the blocks, blaming X for the unnecessary delay in unblocking the accounts. The catch? The government's order carried serious consequences. X faced criminal liability for non-compliance and had no room to challenge the directive, even as it was told to act without cause. X's response: The company said it is 'deeply concerned' by rising press censorship in India. It is exploring legal actions but pointed out that, unlike individual users, it cannot directly contest these orders under Indian law. X urged affected users to seek legal relief. The legal backdrop: X is already in the Karnataka High Court, fighting previous blocking orders, which it says lack transparency. The court heard the matter today and listed it for the next hearing on July 11. It has also moved to challenge Rule 3(1)(d) of the IT Rules, which grants the government sweeping takedown powers. India's electronics makers break up with China Local electronics players, such as Dixon, Amber, PG Electroplast, Micromax's Bhagwati, Epack Durable, and Optiemus, are shifting their focus away from China and teaming up with South Korean, Taiwanese, and Japanese firms instead. What's happening? The government's Rs 22,919 crore components manufacturing scheme shuts applications this month. But thanks to Press Note 3 (post-2020 border tensions), Chinese investments need multiple clearances, making them slow, messy, and unpredictable. Who's moving: Amber Enterprises: Rs 4,000 crore bet, including a Rs 3,000 crore JV with Korea Circuit for advanced PCBs and chip substrates. Dixon: Inking deals with Korean and Taiwanese partners but keeping the China door ajar. Optiemus & Epack Durable: Sourcing displays, PCBs and sound tech from non-Chinese firms. Big picture: The Indian government aims to increase local value addition (currently around 20%) and reduce dependence on China. To this end, it seeks to attract investments worth Rs 59,530 crore and create 91,600 jobs. Over 100 applications are already in. Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: ETtech Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and employees. The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: Interested? Reach out to us at spotlightpartner@ to explore sponsorship opportunities. Startups fuel hiring rebound, 80,000 new tech jobs expected in FY26, data shows India's startup scene is bouncing back on the hiring front. After a muted couple of years, FY25 added 60,000 new jobs, pushing the total startup workforce to 5.9 lakh. Numbers game: Fresh data from staffing firm Xpheno shows startups hired 1.6 lakh individuals in FY25, including 1 lakh attrition backfills and 60,000 net additions – up from 1.2 lakh in FY24. For FY26, Xpheno expects 80,000 net new jobs, taking the total headcount to 6.7 lakh. TeamLease reported a similar uptick, with roles such as DevOps, product managers, and full-stack developers in high demand. Setting context: Hiring hit a low in FY21 (Covid-era) with just 50,000 new additions. Then came the tech boom of FY22, with 2.1 lakh hires, followed by the funding freeze and the brutal mass layoffs of FY24. Expert take: 'A recovering IT services sector and startups sector, the fiscal ahead will see higher talent action next fiscal year. Headcount growth is likely to be driven by startups in quick commerce, eRetail, marketplaces, fintech (payments & remittances, lending & credit) and F&B retail,' Prasadh MS, head of workforce research at Xpheno, told ET. AI gets smarter but needs smarter humans As AI models evolve, they're hungry for more complex, human-curated data. That's where India's growing army of data annotators steps in—doing far more than tagging cat pictures. What's changing: Annotation now means fixing code, reviewing reports, and auditing financial statements. It's all part of training next-gen AI systems. Big money: The global data annotation market is projected to triple from $6.5 billion (2025) to around $20 billion (2030). India's share is set to jump from $80M (2023) to approximately $500M by 2030, with a workforce of 70,000 workers today, up from 20,000 in 2022. Key players: Turing: Calls annotation 'Olympiad-level problem-solving.' Macgence: Builds culturally specific data sets. Appen: Tackles tough STEM tasks; has 50K Indian contributors. Indika AI: Has seen 5x revenue growth, with 70,000 freelancers on call. Power move: Meta snapped up 49% of Scale AI at a $14.3B valuation, showing that data quality now rivals compute in the AI arms race. Bill Gates no longer among world's top 10 billionaires; Elon Musk still on top Microsoft cofounder Bill Gates has slipped out of the world's top 10 richest people, according to the Bloomberg Billionaires Index . What's happening: His net worth has plunged nearly 30% from over $175 billion to $124 billion, pushing him down to 12th place. Why the drop? Well, it's not a market crash or dodgy bets. Bloomberg simply updated how it calculates Gates' fortune, giving more weight to his philanthropic endeavours. Who's on top? No surprises there. Elon Musk remains at the top with a net worth of $346 billion. Mark Zuckerberg holds firm in second with $253 billion, edging out the newly-married Jeff Bezos, who's now fourth at $244 billion. Plot twist: Steve Ballmer, Gates' former aide and ex-Microsoft boss, has leapfrogged him. Ballmer now sits pretty at number five, powered by his booming 4% stake in Microsoft. Updated On Jul 08, 2025, 07:14 PM IST
Economic Times
08-07-2025
- Business
- Economic Times
VCs bet on AI to reboot IT; Blinkit, Instamart lead
Happy Tuesday! VC firms are turning their focus to AI startups looking to transform traditional IT services and outsourcing. This and more in today's edition of ETtech Morning Dispatch. Also in the letter: ■ Foxconn India recall aftermath■ Capgemini bags WNS■ Amazon expands Now footprint VCs back AI startups to shake up Indian IT services industry VCs like Peak XV Partners, Stellaris Venture Partners, and Elevation Capital are going all in on AI startups that want to shake up traditional IT services. Think automation for infrastructure maintenance, software testing, and customer support, all typically heavy on people and cost. The pitch: Peak XV is scouting 'agentic AI' startups to automate application maintenance. Elevation sees automation potential across BPO, KPO, and customer support. Stellaris has already backed two startups tackling core IT services. India edge: ' We (India) know how to scale people-heavy ops and sell services, not just software,' says Stellaris's Ritesh Banglani. 'Our bet is that tech-first services startups will be able to build distribution faster than the incumbents can build technology." Money talk: By charging for outcomes, AI-first startups can 'price like services but earn like software,' says Accel India's Anagh Prasad. Zoom out: Not just VCs, Masayoshi Son's SoftBank is eyeing buyouts in India's AI-powered IT and BPO space too. Investors are also betting on teams with deep domain chops from legacy IT giants. What's next: AI adoption is widening the gap between revenue and headcount growth at big IT firms. But what does this mean for millions of IT jobs? Still a big question mark. Also Read: Tech professors turn startup founders, VCs take note Blinkit and Instamart pull ahead as Zepto slows down Quick commerce stars Blinkit (owned by Eternal) and Swiggy's Instamart are estimated to have gained market share in April–June, while Zepto slowed down, according to analysts. By the numbers: Blinkit's gross order value (GOV) grew over 25% QoQ. Instamart rose by around 22%. Meanwhile, the overall sector grew less than 20%, signalling these two are pulling ahead. User trends: In December 2024, Zepto and Blinkit each had around 5.5 million daily active users (DAUs). By June 2025, Zepto's DAUs fell to 4.9 million, while Blinkit surged to 6.2 million. Instamart's new standalone app (launched in January) hit 1.1 million DAUs by June — and it's also still live inside Swiggy's main app. Why it matters: As competition cools, platforms are shifting focus to unit economics, cutting discounts, reining in marketing spend, and pushing higher average order values (AOVs). Also Read: Quick commerce apps stack up extra fees to curb losses Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: ETtech Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and employees. The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: Interested? Reach out to us at spotlightpartner@ to explore sponsorship opportunities. Foxconn feels the China squeeze in India Foxconn is recalling over 300 Chinese engineers from its Indian iPhone plants at Beijing's insistence. While these engineers can be swapped with Taiwanese talent, the bigger headache? Machinery. Why it matters: China is a key supplier of affordable manufacturing equipment. If Beijing restricts exports or servicing, it could derail Indian operations and slow expansion plans. Smaller manufacturers, who rely heavily on Chinese gear to keep costs low, are especially vulnerable. Industry chatter: 'Capital machinery roadblocks will hurt more than losing engineers,' says Neil Shah of Counterpoint. Other EMS firms haven't felt similar pressure yet, hinting this move is targeted at Foxconn. Big picture: Some execs see this as a 'niggling pain' that large players like Foxconn can absorb, while smaller firms with thinner margins may struggle. A silver lining? Experts say this could push India to develop its own capital goods manufacturing — but that'll take time, as these machines are highly complex and China has a big head start. Capgemini's $3.3 billion WNS buy: Big move, big questions French tech giant Capgemini is set to acquire WNS, an Indian-origin business process management (BPM) firm, for $3.3 billion (about Rs 28,280 crore) in cash. That's $76.50 per share, a 17% premium to WNS's recent closing price. Why it matters: WNS, founded in Mumbai and now US-listed, specialises in BPO ( business process outsourcing) and data analytics for clients like Coca-Cola, T-Mobile, and United Airlines. Capgemini expects the deal to immediately boost revenue growth and margins, and lift earnings per share by up to 7% by 2027. The AI twist: Capgemini is betting big on merging WNS's deep domain expertise with its AI capabilities, think Gen AI and Agentic AI, to create advanced, data-driven services. WNS CEO Keshav Murugesh says it's about shifting from 'automation to autonomy' and helping clients cut operating costs by as much as 40%. WNS in numbers: FY25 revenue: $1.31 billion (down around 0.6% YoY). $1.31 billion (down around 0.6% YoY). Operating margin: 18.7%. 18.7%. 700+ clients, 64,000+ employees. Operations in 13 countries from 64 delivery centres. What analysts think: Morgan Stanley analysts flagged that AI could make BPO a more automated, less people-intensive sector, potentially reducing revenues and increasing competition. They also noted WNS is too small to dramatically move Capgemini's around $25 billion needle but adds around 19% to headcount. Market vibes: Capgemini's shares closed 5.6% lower after the announcement, hitting their lowest level since April. Investors are wary of the short-term balance sheet impact and long-term AI risks. Also Read: SoftBank eyeing buyout deals in India to push AI-led IT, BPO operations Keeping Count OpenAI achieved the milestone within three years of launching its popular AI chatbot, ChatGPT. This marks a substantial increase from $5.5 billion in December 2024. (Source: CNBC, Crunchbase) Other Top Stories By Our Reporters Amazon Now arrives in Delhi: Amazon has started offering its quick commerce service, Amazon Now, in a few localities in Delhi, after launching it in Bengaluru last month. RackBank explores non-metros to cut costs: AI infrastructure startup RackBank is looking to expand data centres in tier-2 cities like Indore and Raipur to reduce its operational cost by 2–3x as compared to data centre hotspots like Mumbai, Chennai and Noida. Global Picks We Are Reading ■ People are using AI chatbots to guide their psychedelic trips (Wired) ■ Meta's grand WhatsApp fintech experiment in India has fizzled (Rest of World) ■ Robotic probe quickly measures key properties of new materials (MIT News) Updated On Jul 08, 2025, 07:57 AM IST
Time of India
08-07-2025
- Business
- Time of India
VCs bet on AI to reboot IT; Blinkit, Instamart lead
VCs bet on AI to reboot IT; Blinkit, Instamart lead Also in the letter: VCs back AI startups to shake up Indian IT services industry The pitch: Peak XV is scouting 'agentic AI' startups to automate application maintenance. Elevation sees automation potential across BPO, KPO, and customer support. Stellaris has already backed two startups tackling core IT services. India edge: Money talk: Zoom out: What's next: Also Read: Blinkit and Instamart pull ahead as Zepto slows down By the numbers: Blinkit's gross order value (GOV) grew over 25% QoQ. Instamart rose by around 22%. Meanwhile, the overall sector grew less than 20%, signalling these two are pulling ahead. User trends: In December 2024, Zepto and Blinkit each had around 5.5 million daily active users (DAUs). By June 2025, Zepto's DAUs fell to 4.9 million, while Blinkit surged to 6.2 million. Instamart's new standalone app (launched in January) hit 1.1 million DAUs by June — and it's also still live inside Swiggy's main app. Why it matters: Also Read: Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: Capgemini's $3.3 billion WNS buy: Big move, big questions Why it matters: The AI twist: WNS in numbers: FY25 revenue: $1.31 billion (down around 0.6% YoY). $1.31 billion (down around 0.6% YoY). Operating margin: 18.7%. 18.7%. 700+ clients, 64,000+ employees. Operations in 13 countries from 64 delivery centres. What analysts think: Market vibes: Also Read: Keeping Count Other Top Stories By Our Reporters Amazon Now arrives in Delhi: RackBank explores non-metros to cut costs: Global Picks We Are Reading Happy Tuesday! VC firms are turning their focus to AI startups looking to transform traditional IT services and outsourcing. This and more in today's edition of ETtech Morning Dispatch.■ Foxconn India recall aftermath■ Capgemini bags WNS■ Amazon expands Now footprintVCs like Peak XV Partners, Stellaris Venture Partners, and Elevation Capital are going all in on AI startups that want to shake up traditional IT services. Think automation for infrastructure maintenance, software testing, and customer support, all typically heavy on people and cost.' We (India) know how to scale people-heavy ops and sell services, not just software,' says Stellaris's Ritesh Banglani. 'Our bet is that tech-first services startups will be able to build distribution faster than the incumbents can build technology."By charging for outcomes, AI-first startups can 'price like services but earn like software,' says Accel India's Anagh just VCs, Masayoshi Son's SoftBank is eyeing buyouts in India's AI-powered IT and BPO space too. Investors are also betting on teams with deep domain chops from legacy IT adoption is widening the gap between revenue and headcount growth at big IT firms. But what does this mean for millions of IT jobs? Still a big question commerce stars Blinkit (owned by Eternal) and Swiggy's Instamart are estimated to have gained market share in April–June, while Zepto slowed down, according to competition cools, platforms are shifting focus to unit economics, cutting discounts, reining in marketing spend, and pushing higher average order values (AOVs).ETtech Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship tech giant Capgemini is set to acquire WNS , an Indian-origin business process management (BPM) firm, for $3.3 billion (about Rs 28,280 crore) in cash. That's $76.50 per share, a 17% premium to WNS's recent closing founded in Mumbai and now US-listed, specialises in BPO ( business process outsourcing) and data analytics for clients like Coca-Cola, T-Mobile, and United Airlines. Capgemini expects the deal to immediately boost revenue growth and margins, and lift earnings per share by up to 7% by is betting big on merging WNS's deep domain expertise with its AI capabilities, think Gen AI and Agentic AI, to create advanced, data-driven services. WNS CEO Keshav Murugesh says it's about shifting from 'automation to autonomy' and helping clients cut operating costs by as much as 40%.Morgan Stanley analysts flagged that AI could make BPO a more automated, less people-intensive sector, potentially reducing revenues and increasing competition. They also noted WNS is too small to dramatically move Capgemini's around $25 billion needle but adds around 19% to shares closed 5.6% lower after the announcement, hitting their lowest level since April. Investors are wary of the short-term balance sheet impact and long-term AI achieved the milestone within three years of launching its popular AI chatbot, ChatGPT. This marks a substantial increase from $5.5 billion in December 2024. (Source: CNBC , Crunchbase)Amazon has started offering its quick commerce service, Amazon Now, in a few localities in Delhi , after launching it in Bengaluru last infrastructure startup RackBank is looking to expand data centres in tier-2 cities like Indore and Raipur to reduce its operational cost by 2–3x as compared to data centre hotspots like Mumbai, Chennai and Noida.■ People are using AI chatbots to guide their psychedelic trips ( Wired ■ Meta's grand WhatsApp fintech experiment in India has fizzled ( Rest of World ■ Robotic probe quickly measures key properties of new materials ( MIT News
Time of India
07-07-2025
- Business
- Time of India
Capgemini to acquire WNS; Musk's America Party
Capgemini to acquire WNS; Musk's America Party Also in the letter: Capgemini's $3.3 billion WNS buy: big move, big questions Why it matters: The AI twist: WNS in numbers: FY25 revenue: $1.31 billion (down around 0.6% YoY) $1.31 billion (down around 0.6% YoY) Operating margin: 18.7% 700+ clients, 64,000+ employees Operations in 13 countries from 64 delivery centres What analysts think: Market vibes: Also Read: America Party: Musk's move to break up the 'uniparty' system Trump fires back: The backstory: Next steps unclear: Also Read: Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: Bombay HC puts Rs 170 crore GST demand on Go Digit under review The details: What Digit said: Go Digit's financials: Q4 FY25 net profit: Rs 116 crore (up 119% YoY) FY25 net profit: Rs 424 crore (up nearly 3x YoY) FY25 gross written premium: Rs 10,282 crore Big picture: Amazon Now expands quick commerce offering in Delhi after Bengaluru Expansion into Delhi: Growing competition: Professors turn founders amid the new deep tech gold rush Why the shift? VCs are watching: Big names jumping in: Manoj Gopalkrishnan left IIT Bombay to launch Algorithmic Biologics after his Covid research took off. IIT Madras's Satya Chakravarthy has co-founded six deep tech startups. The takeaway: French IT major Capgemini will acquire Indian-origin BPO firm WNS in a $3.3 billion cash deal This and more in today's ETtech Top 5.■ Go Digit's GST reprieve■ Amazon Now in New Delhi■ Professors turn foundersFrench tech giant Capgemini is set to acquire WNS , an Indian-origin business process management (BPM) firm, for $3.3 billion (about Rs 28,280 crore) in cash. That's $76.50 per share, a 17% premium to WNS's recent closing founded in Mumbai and now US-listed, specialises in BPO ( business process outsourcing) and data analytics for clients like Coca-Cola, T-Mobile, and United Airlines. Capgemini expects the deal to immediately boost revenue growth and margins, and lift earnings per share by up to 7% by is betting big on merging WNS's deep domain expertise with its AI capabilities, think Gen AI and Agentic AI, to create advanced, data-driven services. WNS CEO Keshav Murugesh says it's about shifting from 'automation to autonomy' and helping clients cut operating costs by as much as 40%.Morgan Stanley analysts flagged that AI could make BPO a more automated, less people-intensive sector, potentially reducing revenues and increasing competition. They also noted WNS is too small to dramatically move Capgemini's around $25 billion needle but adds around 19% to shares slid around 5.6% after the announcement, hitting their lowest level since April. Investors are wary of the short-term balance sheet impact and long-term AI Elon Musk, neither Democrats nor Republicans can effectively address government overspending and bureaucratic red tape in the US. So he's decided to strike out on his own , launching the America Party, an uncommon third front in the country's polarised matters into his own hands: 'When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy,' Musk declared on X on July 5. He conducted a poll among his 228 million followers, with roughly 65% voting in favour of forming a new party. Staying true to the result, he announced: 'Today, the America Party is formed to give you back your freedom.'President Trump slammed Musk's move on Truth Social, calling it 'ridiculous' and predicting it would lead to 'complete and total disruption and chaos.' He also hinted at retaliatory measures against Musk's companies. Musk brushed it off , quipping: 'Truth Social? Never heard of it.'Musk has flip-flopped across the aisle. He backed Barack Obama (vocally and financially), gave a tepid nod to Hillary Clinton, and claimed he'd vote for Biden (but reportedly didn't). In 2022, Musk turned sharply red, calling Democrats the 'party of division and hate.' But after falling out over Trump's 'Big, Beautiful Bill' in 2025, Musk decided to go has teased ideas for the party's first congress on X, but so far, the America Party has not been formally registered with the Federal Election Commission (FEC). Gaining ballot access across states will be a major Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship Goyal, chairman, Go DigitThe Bombay High Court has set aside a Rs 170 crore tax demand against Go Digit General Insurance and asked tax authorities to review the demand included Rs 154.8 crore in GST ( goods and services tax) and Rs 15.48 crore in penalties for the period between July 2017 and March 2022. The court noted that the GST Council had issued circulars clarifying this issue and directed officials to reconsider the demand within three company called it an 'industry-wide issue' and is evaluating the legal implications. It hasn't yet received the formal pause gives the Fairfax-backed insurer some breathing room just as it's coming off a strong third straight profitable year. The final outcome will be key as Digit scales quick commerce business, Amazon Now, has been expanded to a few pincodes in Delhi after the service went live in Bengaluru in June, two company executives told ET. The ecommerce giant will be scaling the service across these two cities over the next few months before expanding the network to other cities in the country.'It's a large part of western Delhi right now, but it's a very rapidly evolving network, so you'll very soon see it live across Delhi,' said Abhinav Singh, vice president of operations for India and Australia at company's move into quick commerce comes at a time when the space has seen aggressive growth led by players like Eternal-owned Blinkit, Swiggy's Instamart, Zepto, along with other new entrants like Tata Digital-backed BigBasket, Flipkart Minutes, and Reliance's top tech professors are swapping classrooms for cofounder titles . Startups launched by faculty at IISc, IITs, IIITs, and BITS Pilani are up 20–30% year over decades, professors stuck to research papers over pitch decks. Now, success stories like Ather Energy and Agnikul Cosmos are inspiring a new generation to build, not just love these deep tech ventures. 'We've backed about eight or nine professor-led startups, it's a growing trend,' says Ashwin Raghuraman of Bharat Innovation know their tech inside out and with campus incubators stepping up, they're finally taking the leap. Investors see them as a gold mine for IP-heavy, globally competitive plays.
Time of India
07-07-2025
- Business
- Time of India
Vaishnaw talks up India tech; Startups' Aadhaar plea
Vaishnaw talks up India tech; Startups' Aadhaar plea Want this newsletter delivered to your inbox? Also in the letter: India building tech capabilities in times of upheaval: Ashwini Vaishnaw Building tech muscle: Is China a hurdle? Competing with China: Trump troubles: Startups weigh government nod to use Aadhaar KYC for gig workers Quick catch-up: Also Read: Tell me more: Context: Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: Faasos parent Rebel Foods to sell stake in dessert brand Smoorr Driving the news: Missed expectations: The big picture: Also Read: Keeping Count Other Top Stories By Our Reporters Nykaa expects mid-20s revenue growth in Q1: Eternal appoints Aditya Mangla as food delivery CEO: X restores Reuters, Reuters World accounts in India after withholding: Global Picks We Are Reading Happy Monday! India's tech manufacturing capabilities are expanding despite headwinds, IT Minister Ashwini Vaishnaw told ET. This and more in today's ETtech Morning Dispatch■ Rebel Foods' reset■ Nykaa Q1 update■ Eternal's new appointmentUnion IT minister Ashwini VaishnawAs the world navigates a period of deep uncertainty, India is quietly building its own capabilities to reduce risk and stay future-ready, union IT minister Ashwini Vaishnaw told ET in a wide-ranging interview . Vaishnaw spoke about topics ranging from Foxconn's Chinese staff exiting India to Trump era-shifts in global is steadily strengthening its capabilities in complex components, such as mechanical systems and glass, as well as the broader assembly of electronics, Vaishnaw said. This comes amid reports of Apple's largest supplier, Foxconn, pulling back its Chinese engineers from India. He noted that India continues to receive technological support from Taiwan, the United States and South Korea. That, he believes, is enough to keep the momentum avoided a direct answer, instead emphasising the need for India to grow methodically and build a resilient supply chain over the long has held the top spot in electronics value addition for more than 30 years, contributing 38%. India, by contrast, has crossed the 20% mark in just seven years. Closing the gap in the next five years is a realistic goal, Vaishnaw about Donald Trump's calls to bring manufacturing back to the US , Vaishnaw played it diplomatically. The world, he said, has enough room for everyone. India, he added, should focus on the value it can internet startups are gearing up to approach the government for explicit approval to use Aadhaar authentication , after a recent crackdown on digital ID verification delivery, ecommerce, and ride-hailing platforms are struggling to onboard gig workers using Aadhaar-based eKYC, industry sources told us. The trouble began when the IT ministry halted all unauthorised use of Aadhaar for digital like Protean eGov Technologies can offer secure Aadhaar access, but government approval remains the key step. 'We are already in multiple conversations with players in the tech industry. However, it's important to note that ministry approval remains a required part of the process,' said Bertram D'Souza, Protean's chief product and innovation official nods in place, ID verification startups could plug into platforms like Protean and offer authentication services via user Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship opportunities.(L-R) Kallol Banerjee, Jaydeep Barman, founders, Rebel FoodsFaasos and Behrouz Biryani parent Rebel Foods has explored a potential sale of its majority stake in premium chocolate and dessert brand Smoor, according to people familiar with the which owns around 57% of Smoor, has been seeking a buyer, but negotiations have not yet resulted in a deal. In response to ET's queries, a Rebel Foods spokesperson stated that the company remains committed to Smoor and continues investing in its long-term Rebel Foods acquired a controlling stake in Smoor in 2022, it projected that Smoor would triple its revenue in FY23 and cross $100 million by the numbers haven't kept pace. In FY24, Smoor clocked Rs 149 crore in revenue, up just 16% year-on-year, according to data sourced from Tracxn. Losses also progressively widened—from Rs 10 crore in FY22 to Rs 17 crore in FY23 to Rs 19 crore in has also shut its offices in Gurugram and Bengaluru as part of a broader operational reset. The moves suggest the cloud kitchen player is tightening up operations and rethinking bets on high-end brands, possibly ahead of an IPO, one of the persons told CEO Mark Zuckerberg is offering up to $300 million over four years to AI researchers for working in his 'superintelligence' lab, with a total compensation of over $100 million for the first year alone, Wired reported. His aggressive hiring tactics have left rivals fuming and India eyeing a cost advantage. (Source: Wired Falguni Nayar, CEO, NykaaThe company anticipates consolidated net revenue growth in the mid-20% range for the June quarter, driven by sustained demand in its core beauty business and a rebound in the fashion Zomato parent has appointed Aditya Mangla as the new chief executive officer of its food delivery business, replacing Rakesh Ranjan, who stepped down from this role in accounts were withheld 'in response to a legal demand', even though the IT ministry stated that the Government of India has not raised any demand to this effect.■ TikTok building new version of app ahead of expected US sale ( The Information ■ Laid-off workers should use AI to manage their emotions, says Xbox exec ( The Verge ■ This is why Tesla's Robotaxi launch needed human babysitters ( Wired
