Author: News Desk

Swiggy is poised to exit its investment in Rapido, the rapidly growing ride-hailing platform, aiming to raise ₹2,500 crore ($300 million) by selling its 12% stake through a secondary share sale. The move marks a 2.5X return on the ₹950 crore ($120 million) investment Swiggy made in 2022 as part of a $180 million funding round it co-led. Rapido’s Valuation Surge and Expansion Plans Rapido’s valuation has surged to an estimated $2.7–3 billion (₹23,000–26,000 crore), up from $1.1 billion a year ago. The sharp increase in valuation is driven by: With its GMV now outpacing Uber and Ola in select…

Kuok Khoon Hong, widely known as Asia’s “Palm Oil King,” has solidified his control over Adani Wilmar Ltd (AWL) following the Adani Group’s strategic divestment. With the completion of the deal in July 2025, Wilmar International now holds a 64% majority stake, paving the way for accelerated growth in India’s consumer goods and agriculture sectors. The Adani Group had initially announced its intention to exit the edible oil joint venture with Wilmar in December 2024, as part of a broader strategy to refocus its portfolio on core infrastructure sectors such as renewable energy, logistics, and transportation. Kuok, 76, is the…

India and the Philippines have officially elevated their bilateral relationship to a strategic partnership, signing 14 landmark agreements and announcing significant travel-related developments—including visa-free entry for Indian tourists, free e-visas for Filipinos, and direct Air India flights between Delhi and Manila starting October 1, 2025. These announcements came during the state visit of Philippine President Ferdinand Marcos Jr. to India, where he met with Prime Minister Narendra Modi and President Droupadi Murmu. The leaders underscored a shared vision for expanded cooperation in defense, technology, space, and people-to-people exchanges. Strategic & Defense Agreements Signed: Travel & Tourism Boost: Air India will…

Bollywood star and entrepreneur Ranbir Kapoor has made a new bet on India’s booming logistics and tech-driven infrastructure sector. Kapoor has invested an undisclosed amount in Prozo, a Gurugram-based, full-stack supply chain startup. The company helps Indian brands scale their businesses with smart warehousing, freight, and fulfillment services. Founded in 2016 by Dr. Ashvini Jakhar, a former naval doctor and McKinsey consultant, Prozo currently operates 42 tech-enabled warehouses spanning 2.2 million sq. ft. It delivers to over 24,000 pin codes across India. With a revenue run-rate of ₹250 crore, the company has already partnered with over 150 brands, including Beardo, PhonePe, Neemans, Snitch,…

Paytm Now 100% Indian-Owned: A Milestone for Atmanirbhar Bharat In a landmark development for India’s digital economy, Paytm is now entirely Indian-owned, marking a proud chapter in the country’s push for technological self-reliance. Nearly a decade after founder Vijay Shekhar Sharma famously said, “We are as Indian as Maruti,” that declaration has now become reality. Chinese tech giant Ant Financial, an affiliate of Alibaba Group, has fully exited One97 Communications—Paytm’s parent company—by selling its remaining 5.84% stake for ₹3,803 crore. With this move, all Chinese ownership in Paytm has officially ended. “This makes Paytm as Indian as Tata,” remarked a source familiar with the deal. A Profitable New Chapter The…

Prime Minister Narendra Modi is likely to visit China at the end of August to attend the Shanghai Cooperation Organisation (SCO) Summit—his first trip to the country since 2018. According to diplomatic sources, preparations are underway for Modi’s participation in the summit, scheduled to be held in the city of Tianjin from August 31 to September 1. The event, hosted by Chinese President Xi Jinping, will also be attended by Russian President Vladimir Putin and leaders from Central Asian member states. While an official announcement is yet to be made, a bilateral meeting between Modi and Xi Jinping is reportedly…

Tesla has officially flipped the switch on its India journey, launching its first Supercharger station at One BKC in Mumbai. The site features eight stalls, four V4 Superchargers delivering up to 250 kW, and four AC destination chargers for slower top-ups. This milestone comes right after the India launch of Tesla’s Model Y SUV, priced at ₹59.89 lakh (ex-showroom). The Superchargers can juice up a Model Y from 10% to 80% in 20 minutes, with about 300 km of range added in just 15 minutes. Charging costs: Compared to ₹5,000 for a petrol SUV tank, the savings are clear. Tesla…

At Google I/O Connect India 2025, India’s startup ecosystem took the spotlight, showing how local innovators are building world-class products using Google’s latest AI tools—Gemini, Gemma, Veo, Imagen, and Lyria. Google also announced a new cohort of 20 startups for the Google for Startups Accelerator Apps program, along with an expanded MeitY partnership to provide early-stage AI training through roadshows and buildathons.

Vietnamese electric vehicle giant VinFast officially launched its electric vehicle assembly plant in Thoothukudi, Tamil Nadu on August 4. Tamil Nadu Chief Minister M.K. Stalin inaugurated the plant and flagged off the first premium VF7 electric SUV produced at the facility. Located within the SIPCOT Industrial Park, the plant marks VinFast’s first India facility and third globally operational plant. It follows a ₹16,000 crore investment commitment made during the Tamil Nadu Global Investors Meet in January 2024, which is set to generate 3,500 direct jobs in the southern districts. During the event, CM Stalin emphasized the plant’s role in both combating global warming and boosting Tamil Nadu’s economy. He praised the swift execution—just 18 months from…

Tesla has signed a 9-year lease for a 33,475 sq ft facility at Orchid Business Park on Sohna Road, Gurugram, at a monthly rent of ₹40.17 lakh, with a ₹2.41 crore security deposit. This space will serve as Tesla’s first integrated service centre, customer retail outlet, and delivery hub in the Delhi-NCR region. The lease, registered on July 28 and effective from July 15, includes an annual 4.75% rent escalation and a three-year lock-in period. The site spans 50,914 sq ft of super built-up area, delivered in warm shell condition for Tesla to customize interiors in line with its global…