INDIAN TECH INDUSTRY
Indian Army tests next-gen military tech in Pokhran, Agra, Joshimath to simulate future battlefield scenarios
The Indian Army is actively conducting large-scale trials to evaluate new indigenous battlefield technologies, including drones, EW systems, and air defense solutions, under near-combat conditions. CDS Chauhan emphasized India's self-reliance in defense, citing the successful integration of indigenous systems during Operation Sindoor. He also highlighted India's strategic advantage over Pakistan due to long-term strategic planning and economic growth.
Rs 6 lakh to Rs 18 lakh to Rs 0: Indian techie shares how his life changed after he got a job offer from a US-based startup
A young Indian developer faced a devastating setback when a U.S. startup rescinded his job offer just before his start date, leaving him unemployed after he had resigned from his previous position. The offer promised a significant salary increase, but the reversal has led him to seek more stable employment after experiencing the uncertainties of startup culture.
Builder.ai faked business with Indian firm VerSe to inflate sales: Sources
Builder.ai, facing bankruptcy, allegedly inflated sales figures by engaging in "round-tripping" with VerSe Innovation, billing each other for similar amounts without actual services rendered. Documents suggest this practice occurred between 2021 and 2024 to deceive investors. VerSe co-founder Umang Bedi denies these allegations, while Builder.ai has declined to comment on the matter.
Share market update: Most active stocks of the day in terms of traded value
The NSE Nifty index closed 82.9 points down at 24750.7
Gensol’s default; Ola’s dismal Q4
Happy Friday! Gensol Engineering has failed to make repayments on bonds that used BluSmart taxis as collateral. This and more in today’s ETtech Morning Dispatch.
A lesson from China’s defence tech
India needs to prepare for challenges from China's advanced defense technology. China aims to challenge the US and is rapidly developing its military capabilities. India must boost domestic defense production and collaborate with other countries. The focus should be on technological superiority and joint ventures. Government of India needs to involve IT companies and startups in defense research.
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Ola Electric’s Q4 losses double; Walmart on quick comm
Ola Electric’s troubles compounded with net loss increasing two-fold in the March quarter. This and more in today’s ETtech Top 5.
Artificial intelligence is a generational shift, with its impact far greater than the internet: Sunil Mittal
Sunil Bharti Mittal says AI's impact will surpass the internet. He spoke at the CII Annual Business Summit 2025. Mittal highlighted AI's effect on India's job market. He noted potential difficulties in software engineering. Mittal also emphasized new opportunities AI will create. He urged government support for industry. Mittal called for increased R&D investment and a trade reset.
India's IPO momentum grows on strong fundamentals and investor confidence: Ranvir Davda, HSBC
India's equity market is rebounding due to easing geopolitical tensions, strong earnings, and investor inflows. IPO momentum is supported by differentiated stories, sectoral interest in manufacturing and tech, and optimism around India's structural growth and China+1 opportunities.
When feminine meets fierce
Ridhi Mehra's label blends modern style with traditional Indian wear. Her pre-draped saris are popular among brides and celebrities. Ridhi Mehra launched a corset belt to reinvent the sari. She focuses on comfort and versatility in her designs. The brand uses digital planning to reduce waste. Mehra envisions a self-assured bride who mixes tradition with personal style.
Dhan closes in on $200 million fundraise from ChrysCap, Alpha Wave, MUFG
Dhan, an online stock trading platform, is poised to become a unicorn with a $190-200 million funding round led by ChrysCapital. The investment, which includes participation from Alpha Wave, MUFG, and Sunil Mittal's family office, will value the company at $1.1 billion. Dhan's focus on high-frequency traders and profitability have attracted investors amidst regulatory changes in the Indian stock market.
Dhan’s funding nears close; BNPL gets regulated out
Happy Thursday! Stock broking startup Dhan is poised to finalise its long-awaited funding round. This and more in today’s ETtech Morning Dispatch.
Altimetrik nears Rs 5,100 crore acquisition of SLK Software
Altimetrik, a US-based digital services firm, is close to acquiring SLK Software. The deal values SLK between $500-600 million. Altimetrik has signed an exclusivity agreement. SLK is projected to report $40 million in FY25 ebitda. The company provides AI-driven technology solutions. This acquisition highlights the increasing M&A activity in the digital engineering services sector.
Schaeffler India invests Rs 1,700 cr in 3 years to expand local capabilities
Schaeffler India has invested Rs 1,700 crore over three years to expand its capabilities in powertrain and e-mobility solutions. The company inaugurated a new manufacturing plant in Tamil Nadu, focusing on conventional and electrified powertrain technologies for the domestic market. This expansion aims to meet rising market demands and support the 'Make In India' initiative.
Manu Jain’s next big play after Xiaomi: A $1.4 billion bet to help India achieve its AI ambitions
Abu Dhabi’s G42 is making a $10 billion global AI bet—with India at the centre. With Jain at the wheel, the company is combining global expertise with local insight to advance India’s AI narrative.
The future of India’s BFSI sector: How Agentic AI is powering autonomous operations
Agentic AI is transforming India's BFSI sector, enabling independent operations and real-time responses. While 90% of banks are increasing AI investments for personalized experiences and fraud detection, readiness lags behind ambition.
India's alarm over Chinese spying rocks the surveillance industry
Global surveillance gear makers are in conflict with Indian regulators over new security rules demanding hardware, software, and source code submissions for government lab assessments. This policy, driven by concerns about Chinese surveillance capabilities, has sparked industry warnings of supply disruptions.
Can Ambani do mutual fund magic with Aladdin?
Mukesh Ambani's Reliance Group, through Jio Financial Services, is partnering with BlackRock to launch Jio BlackRock Asset Management, entering the growing Indian mutual fund market. Approved by Sebi, the venture aims to digitally deliver investment products, leveraging BlackRock's Aladdin platform for data-driven investing.
MeitY forms panel to create national framework for GCCs
The Indian government is actively fostering the growth of Global Capability Centres (GCCs) by establishing an industry-led panel. This initiative aims to create a national framework, as announced in the federal budget, to guide states in promoting GCCs, particularly in tier 2 cities. The committee, comprising industry bodies and advisory firms, will focus on talent availability, infrastructure enhancement, and innovation.
RBI’s new directive to NBFCs; Oyo’s third IPO attempt
The RBI has tightened rules on default loss guarantees (DLGs), a move that is likely to hit digital lenders hard. This and more in today’s ETtech Top 5.
India leads the way in responsible AI maturity: McKinsey survey
The study, which gathered insights from over 750 leaders across 38 countries, representing technology, healthcare, finance, legal and other industries, said that RAI fosters trust among customers, employees, and stakeholders while helping to manage risks and maintain accountability. McKinsey evaluated the RAI readiness using its AI Trust Maturity Model, which examines four main dimensions — strategy, risk management, data and technology, and operational governance of AI.
Fewer credit scores, smaller classes and more: IIT Delhi revamps curriculum after 12 years; Check key changes here
IIT Delhi has overhauled its curriculum after 12 years, addressing student burden and evolving industry needs like AI and sustainability. The revamp, initiated in 2022, incorporates stakeholder feedback, reduces core credit load, and lowers first-year class sizes for personalized attention. It also introduces honors programs, integrated AI-based code generators, and mandatory sustainability training to prepare graduates for future challenges.
Are we 'running a marathon, carrying a toddler while dodging robots’: Redditor's viral rant on parenthood and upskilling amid AI scare hits hard
A viral Reddit post has exposed the growing despair among engineers juggling caregiving, job insecurity, and relentless upskilling in an AI-dominated world. Describing life as a marathon “while carrying a toddler and dodging robots,” it paints a grim picture of unaffordable parenthood and the vanishing promise of work-life balance.
Growing cement demand to fuel consolidation, top 10 firms add 140 MMTPA capacity in 5 years: Moody's
India's cement sector is set for consolidation. Rising demand will drive acquisitions of smaller players by larger companies like UltraTech and Ambuja. South India is particularly exposed to this trend. Capacity is expected to expand significantly to meet growing consumption. However, raw material price volatility poses a risk to profitability. Cement consumption is projected to increase substantially by 2030.
Geopolitical uncertainties affect job openings in semiconductor design GCCs in FY25: Report
Despite this moderation, the overall demand for niche skills in VLSI (Very Large Scale Integration), embedded systems, and RF/analogue design remained resilient, with mid-sized GCCs demonstrating greater hiring agility, it added.
India’s supplements wild west; Payments firms’ SaaS play
Happy Monday! As over-the-counter health supplements are increasingly available online, concerns arise about their efficacy and regulation. This and more in the latest edition of ETtech’s Morning Dispatch
Anti-drone system to be installed in Taj Mahal complex
To bolster security, the Taj Mahal will soon be equipped with an anti-drone system capable of neutralizing aerial threats. This advanced technology, featuring a 7-8 kilometer range, will primarily focus on a 200-meter radius around the main dome.
US techie still can’t crack Indian work culture after two years, says getting input from desi colleagues is like 'pulling teeth'
A U.S.-based tech professional highlighted the struggle to foster active participation from Indian colleagues after a company acquisition. The lack of input in brainstorming sessions and strategic collaboration, despite repeated efforts, has led to frustration. The post explores potential cultural factors influencing this dynamic, seeking insights into Indian workplace norms.
Titan Capital launches investment vertical to back defence-tech founders
Titan Capital has launched a specialised investment vertical to fund Indian startups innovating in defence and strategic technology, focusing on areas like advanced hardware, aerospace, and cybersecurity. The firm aims to foster deep-tech innovation and help India become a net exporter of strategic technologies.
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