Additionally within the letter:
■ RIL completed with Dunzo
■ New takers for Zepto
■ Extra questions on DPDP Act
US tariffs might rain on India’s electronics exports parade
India’s electronics exports are flying. Shipments surged 47% year-on-year within the April-June quarter, and all indicators level to momentum holding. However a looming risk might spoil the social gathering: contemporary US tariffs.
Quantity-wise:
- Electronics exports hit $12.4 million (Rs 1.09 lakh crore) final quarter.
- At this tempo, exports might cross $46–50 billion by March 2026.
- Cellphones are the star act, contributing 70% of whole electronics exports.
- Half of those exports head to the US, which has now slapped a steep 50% tariff, among the many highest on India.
Driving the information: Apple and different corporations ramped up exports within the June quarter, racing to beat the tariff deadline. The consequence: cell phone shipments soared 55% year-on-year to round $7.6 billion.
Trying inwards: India should double down on constructing its personal electronics ecosystem, mentioned Pankaj Mohindroo, chairman of the India Mobile and Electronics Affiliation (ICEA).
“Different product segments, like photo voltaic modules, networking tools, chargers and parts, are gaining traction”, he mentioned. “We should now speed up their enlargement. We want IT {hardware}, wearables, hearables and shopper electronics exports to rise sharply”.
OpenAI to convey extra merchandise to India, make them reasonably priced: Sam Altman
Sam Altman, CEO, OpenAI
The “extremely fast-growing” India might quickly overtake the US as OpenAI’s largest market, based on cofounder Sam Altman.
Quote, unquote: “We’re particularly centered on bringing merchandise to India, working with native companions to make AI work nice for India, (making) it extra reasonably priced for folks throughout the nation,” Altman mentioned on the sidelines of the launch of ChatGPT-5.
AI-led layoffs? On issues about job losses amongst software program engineers because of GenAI’s coding capabilities, Altman pushed again, saying there’s “no proof” to assist that.
- At the same time as tech corporations across the globe are restructuring their workforce with the altering paradigm, Altman mentioned, “the world desires far more software program.”
- OpenAI’s instruments, he added, are designed to spice up productiveness and cut back growth prices reasonably than exchange engineers.
Additionally Learn: TCS layoffs: Job cuts due to skill mismatch, not AI automation, says CEO K Krithivasan
ChatGPT-5 arrives as AI race heats up
OpenAI lastly unveiled ChatGPT-5, its most superior mannequin but, promising deeper capabilities amid rising competitors within the AI area.
Miles to go: Nevertheless, Altman admitted that regardless of PhD-expert stage reasoning, the mannequin falls in need of true synthetic normal intelligence (AGI)
“This (ChatGPT-5) isn’t a mannequin that constantly learns as it’s deployed from new issues it finds, which is one thing that, to me, feels prefer it ought to be a part of an AGI,” Altman mentioned.
Additionally Learn: ChatGPT-5 launch: Altman felt ‘useless’ testing AI, compares its impact to the Manhattan project
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Reliance writes off $200 million funding in Dunzo
Kabeer Biswas, cofounder, Dunzo and Mukesh Ambani, chairman, Reliance Industries
Reliance Industries has written off its entire investment in hyperlocal supply startup Dunzo, based on its FY25 annual report. The conglomerate had led a $240-million (around Rs 1,800 crore) round in Dunzo in January 2022 by way of Reliance Retail, choosing up a 26% stake.
Worth timeline:
- FY2023: Reliance Retail invests Rs 1,800 crore in Dunzo.
- FY2024: Stake worth drops to Rs 1,645 crore.
- FY2025: Complete quantity written off.
Dunzo’s downfall:
- Reliance’s guess on Dunzo was meant to spice up its play within the booming fast commerce market.
- However the startup couldn’t hold tempo with deep-pocketed rivals.
- Its fast supply section, Dunzo Day by day, proved expensive, ballooning month-to-month bills with out bringing in sustainable returns.
- By 2024, Dunzo had pulled again operations, wound down a lot of its fast commerce and courier choices, and resorted to repeated layoffs in a bid to preserve money.
Additionally Learn: Dunzo’s demise: How the Reliance-backed hyperlocal delivery startup unravelled
Management exit:
- The exits got here thick and quick. Cofounders Dalvir Suri, Mukund Jha and Ankur Agarwal stepped away between late 2023 and 2024.
- The ultimate nail got here in early 2025 when Dunzo’s app and web site went darkish, days after cofounder and CEO Kabeer Biswas also departed.
Additionally Learn: Inside Reliance Retail’s reboot to 30-minute quick commerce
MapmyIndia to select Rs 25 crore stake in Zepto
Aadit Palicha, CEO, Zepto
Digital mapping agency MapmyIndia is ready to acquire a small stake in fast commerce unicorn Zepto, which is attempting to chop overseas shareholding within the run-up to going public.
Inform me extra:
- The deal provides MaymyIndia 0.049% fairness in Zepto for Rs 25 crore.
- It’s a secondary transaction, much like a current one involving Elcid Investments.
- Each offers peg Zepto’s valuation at Rs 51,000 crore.
Up to now:
However why? The intention is to spice up Indian possession in Zepto and streamline its cap desk earlier than submitting for an IPO.
Additionally Learn: Zepto enters pharmacy delivery with 10-minute promise
Different High Tales By Our Reporters
One other trade physique seeks exemption from DPDP Act: The Web and Cellular Affiliation of India (IAMAI) has approached India’s IT ministry to seek an exemption for data fiduciaries from the Digital Private Knowledge Safety (DPDP) Act provisions associated to processing private information, as an interim measure.
Management change at Icertis: Software program-as-a-service firm Icertis cofounder Samir Bodas is stepping down as the CEO and can tackle the position of government chairman, whereas COO Anand Subbaraman is being promoted to CEO at a time when AI is disrupting the SaaS enterprise.
World Picks We Are Studying
■ Google vs. Perplexity struggle performs out in India as AI battle intensifies (Rest of World)
■ Contained in the US authorities’s unpublished report on AI security (Wired)
■ Microsoft is cautiously onboarding Grok 4 following Hitler issues (The Verge)