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  • India’s GDP showed an uprise of 6.2% in Q3

    • India’s GDP grew by 6.2% in the December quarter backed by key growth factors including increased consumer spending, higher growth expenditure and increased export rates.
    • Indian economy is expected to maintain a projected growth rate of 6.5% in FY25.
    • Decreased inflation rates, tax reduction and strong investments stimulates the growth factor of the economy.
    • V Anantha Nageswaran, Chief Economic Adviser states three possible reasons for the hike in India’s GDP.
    • Chief Economist of Bank of Baroda, Madan Sabnavis stated that the rural economy has performed well and will be one of the supporting factor of growth.

    New Delhi: India’s economic growth increased significantly to 6.2% in the December quarter (FY25), a great recovery from 5.6% in the September quarter. This indicates that there is still a lot of work that has to be done in the final quarter to achieve the revised growth target of 6.5% in the Fiscal year. Despite achieving this target, the growth rate for FY25 would still be lower than the previous year’s 9.2%(Difference of 2.7%).
    This notable hike in India’s GDP is supported by three major growth factors including increased consumer spending, higher government expenditure, and an increase in export rates.

    Chief Economic Adviser, V Anantha Nageswaran says, ” Exports are driving growth with exports excluding petroleum, gems, and jewelry growing almost 10% from April to January, government’s capital expenditure is on track for the current financial year.”

    Further, he adds, “The massive gathering of 50-60 crore people in the ‘Mahakumbh festival’ has led to significant expenditure in January and February that contributes to the GDP.”

    6.5% Growth rate expected for Indian Economy in FY25

    The Indian economy is expected to maintain a projected growth rate of 6.5% in FY25. In support of the statement, Various sectors of the Indian Economy are performing well which contributes to the rise of the country’s GDP:

    • The agricultural sector reported a growth of 5.6% in Q3, FY24
    • The Manufacturing sector grew by 3.5% in Q3.
    • The Mining sector increased by 1.35% in the last quarter.
    • Utility services such as electricity, gas, and water supply grew by 5.2% in the last quarter.
    • Hospitality and transport services reported a growth of 6.7% in Q3.

    According to Madan Sabnavis, Chief Economist at Bank of Baroda, “The sector-wise strong performance indicates a healthy rural economy which is the key factor for driving growth in India’s economy and a significant growth can be expected in the coming years.”

    Economists believe achieving the expected growth rate of 7% might be challenging.

    Indian economists believe that India needs to grow 7% or even more in Q4 to achieve the growth rate target of 6.5% in FY25. Global tensions and inflation rate might be a reason for investors to drop off their decisions. It would eventually affect the business and corporate sectors.

    IMF Raises India’s FY25 GDP Growth Prediction to 7%
    For fiscal year 2024–25 (FY25), the IMF increased India’s growth prediction by 20 basis points (BPS), bringing it up to 7% from 6.8%.
    StartupTalkyNitin Konde

  • Finance Secretary Tuhin Kanta Pandey Appointed as the new SEBI Chairman

    • The first woman to lead SEBI, Madhabi Puri Buch ends her tenure on 27th February 2025.
    • Tuhin Kanta Pandey, 1987 batch officer from Odisha Cadre named as the new chairman of SEBI
    • Pandey is known for his strict rules and clean image.
    • In the framing of the 2025-26 Budget, Pandey played a pivotal role which gave tax reliefs with a total of INR 1 lakh crore to the middle class.
    • Mr. Pandey played a crucial role in the privatization of Air India, which was sold to the Tata group for INR 18,000 crore.

    Mumbai/Delhi, 28th February 2025: Tuhin Kanta Pandey, an officer from the Odisha cadre batch 1987 has been appointed as the new chairman of SEBI(Securities and Exchange Board Of India) by the government. Pandey is all set to lead the market regulation after succeeding the current chairperson, Madhabi Puri Buch who is the first woman to lead SEBI. She is a former ICICI bank executive who was involved in several controversies, including the allegation of conflict of interest. The IAS officer has served as a secretary in the Department of Investment and Public Assets Management(DIPAM) for a tenure of 5 years.

    During his tenure at DIPAM, Pandey played a key role in the privatization of Air India which was sold to the highest bidder, Tata Group for INR 18,000 crore. He was also involved in the privatization plans of IDBI Bank which is currently going under the due diligence process. Issues that surfaced during Puri Buch’s tenure came to light when Sebi employees held a demonstration at the agency’s BKS headquarters where it was seen as a revolt against the new HR policies. Pandey would face it challenging to restore the confidence among stakeholders that the Sebi chief is impartial.

    About Tuhin Kanta Pandey

    Pandey pursued his Master’s degree in Economics from Punjab University, Chandigarh, and holds an MBA degree from the University of Birmingham, UK. Throughout his journey as an IAS officer, Pandey has played significant roles in both the Union government and the State government of Odisha.

    In the Union government, his positions include joint secretary, Cabinet Secretariat, and Planning commission (presently NITI Ayog). At an early stage of his career, Pandey served as the administrative head in the departments of health, general administration, commercial taxes, transport, and finance. Tuhin Kanta Pandey is known to be strict against his rules and has a very clear image.

    sebi – StartupTalky
    StartupTalky is India’s leading business media platform to give you latest startup news and upcoming startups. You can also share your experience and opinion with our readers.
    StartupTalkyNitin Konde, Varun Bhardwaj

  • RuPay network is driving growth in digital payments says NPCI

    • RuPay network accounts for nearly 16% of India’s credit card spendings, driven by UPI linked credit cards.
    • Over 30 banks issue RuPay credit cards leading to a significant increasae in transactions.
    • The NPCI initiates to take indian payments global by setting up new R&D center to drive innovation.
    • RuPay credit cards holds more than 750 million transactions in the ongoing fiscal year, October 2024.
    • In June 2022, the Reserve Bank Of India has approved the integration of UPI with RuPay credit cards.

    Mumbai: In a statement at the Mumbai Tech week, Managing Director of NPCI, Dilip Asbe noted that RuPay card network holds nearly 16% of India’s credit card spending and almost half of these transactions are based on UPI. Furthermore he added, over 30 banks issue RuPay credit card that leads to a significant drift in the transaction rate. RuPay network is said to as India’s indigenous payment network that runs on National Payments Corporation of India (NPCI).

    “Almost 16% of the total credit card spendings are taking place on RuPay credit card network and 50% of them are UPI based. 30+ banks in the country are issuing RuPay credit cards, leading a rise in the transaction rate,” says NPCI chief Dilip Asbe.

    A latest report published by the Ministry of Finance highlights that more than 750 million transactions that amounts to nearly INR 63,825.8 crore are concerned with RuPay credit cards as recorded in the ongoing fiscal year, October 2024 (FY2025). Where as in the last fiscal year, a total of 362.8 million transactions were recorded that amounted to INR 33,439.2 Crore.

    The NPCI is expanding its influence with new R&D centers, globalizing UPI transactions.

    In the Meantime, NPCI is taking initiatives to present Indian payments on a global level by setting up new R&D center spanning over five lakh square feet  in Mumbai at the Bandra-Kurla Complex, facilitating nearly 5,000 people capacity. The Mumbai Metropolitan Region Development Authority (MMRDA) is involved in allocating land to NPCI for the establishment of these centers.

    “We are aiming to establish about 5,000-people Capacity R&D and Experience Centre. In the last 4 to 5 years, almost 70 countries had their visit at the NPCI office,” says Dilip Asbe.

    NPCI is looking forward to introduce UPI with geographies related to Indian tourists, such as Thailand, Qatar and Southeast Asia. Currently, UPI payments are accepted in several countries including Nepal, Singapore, Bhutan, Sri Lanka, France and Mauritius.

    About RuPay

    RuPay is an Indian multinational financial services and payment service system that allows users to make electronic payments. Launched in the year 2012, RuPay is conceived and owned by The National Payments Corporation of India(NPCI). In June 2022, the Reserve Bank Of India(RBI) has approved the integration of UPI with RuPay credit cards with a vision of establishing a domestic and open multilateral system of payments. RuPay provides seamless electronic payments covering almost all Indian Banks.

    rupay – StartupTalky
    StartupTalky is India’s leading business media platform to give you latest startup news and upcoming startups. You can also share your experience and opinion with our readers.
    StartupTalkyNitin Konde, Varun Bhardwaj

  • Karnataka Aims to Rise to the Top of India’s Esports Scene: Kharge

    Karnataka IT-BT Minister Priyank Kharge is determined to establish Karnataka as a major esports hub as the southern state seeks to capitalise on the growing popularity of the industry nationwide. In his remarks at the Bengaluru GAFX 2025 conference on February 27, Kharge stated that the state government hopes to conduct its own National Esports Festival this year. He added that he plans to host the largest esports festival in the country and possibly Asia for our gaming community. He did not, however, provide any more information. Now in its sixth edition, the conference is hosted by the Karnataka government’s Department of Electronics, Information Technology, and Biotechnology in partnership with the nonprofit ABAI. Over 20,000 people are anticipated to attend Bengaluru GAFX 2025, which is aimed at the rapidly expanding animation, visual effects, gaming, comics, and extended reality (AVGC-XR) business. It is a three-day event from 27 February to 1 March. The top four esport teams in the nation from various regions are competing for the Counter-Strike 2 title in the conference’s final tournament for an esports national championship. The market research firm IMARC Group projects that the Indian esports industry would reach $919 million by 2033, expanding at a compound annual growth rate (CAGR) of 18.42% between 2025 and 2033.

    Investor Connect Initiative- Part of GAFX 2025

    According to Kharge, Bengaluru GAFX 2025 is also holding an investor connect program, where 50 AVGC-XR firms are interacting with more than 25 top investors who are providing finance and mentorship opportunities. Karnataka is taking these steps in an attempt to take the lead in this field, but other states like Tamil Nadu, Telangana, Maharashtra, and Kerala are becoming more and more competitive. Additionally, Kharge wants the state to play a significant role in India’s aspirations to dominate the world in this field. “In addition to contributing to international projects, our professionals are spearheading them by bringing their distinct viewpoints and unparalleled experience to the fore,” he said. Indian artists play a key role in providing innovative visuals for both local and foreign films in the fields of animation and visual effects. “Our efforts have received praise from all over the world, establishing India as a centre for top-notch VFX and animation services,” he added.

    How State’s AVGC-XR Policy can Benefit Karnataka

    In order to promote international cooperation in Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR), the Karnataka government is also forming a Global Innovation Alliance (GIA) that will bring together France, Australia, the United Kingdom, Scotland, Uzbekistan, and Italy. An investment of INR 150 crore was set aside by the Karnataka government last year for its updated AVGC-XR policy for 2024–2029. The state administration hopes to create 50,000 jobs over the following three to four years with the strategy, which was initially announced in November 2023 and started in January 2024. By turning the state into a hub for AVGC-related capabilities, the government hopes to develop a talent pool and guarantee that exports account for at least 80% of the industry’s overall earnings. It is anticipated that the gaming industry will turn to the Centre of Excellence (CoE) for innovation, research, and development.

    During her remarks at the event, Dr. Ekroop Caur, Secretary, Department of Electronics, IT, Bt, Science & Technology, Government of Karnataka, stated that an AVGC-XR Park is also being developed. It would provide research facilities, production studios, and incubation spaces. According to Caur, Karnataka is home to more than 15,000 experts and more than 300 AVGC studios. With 500 million players in India, Karnataka has the most gaming startups, making Bengaluru the centre for next-generation game development. The first of its type in India, Karnataka’s AVGC-XR fund provides up to INR 2 crore in investment support for startups and SMEs.

  • Blinkit will Now Deliver Apple Products in 10 Minutes

    Blinkit, a Quick commerce player, has initiated the delivery of Apple products, such as the MacBook Air, iPad, and AirPods, within 10 minutes in specific cities in India, according to its founder and CEO, Albinder Dhindsa, on February 27. Customers can now receive MacBook Air, iPad, AirPods, Apple Watch, and other Apple accessories in 10 minutes, he wrote in a post on X. The Delhi NCR, Mumbai, Hyderabad, Pune, Lucknow, Ahmedabad, Chandigarh, Chennai, Jaipur, Bengaluru, and Kolkata are among the cities where the brand has begun to deliver, he added. Zomato’s rapid commerce division lost INR 103 crore in the quarter that concluded on December 31, 2024, primarily as a result of deferring growth investments.

    Zomato Pouring More Investment in Blinkit

    Zomato has invested INR 4,300 crore into Blinkit since acquiring the online grocery delivery service, formerly known as Grofers, in an all-stock deal for INR 4,477 crore in August 2022. Zomato has been investing more in Blinkit, mostly to finance its rapid growth and offset operating losses in the fiercely competitive quick commerce market, according to reports published by various media houses. A media article indicates that Blinkit’s revenues sufficiently cover its operational needs; yet, the burn rate remains elevated due to aggressive expansion and rising marketing expenditures.

    This necessitates more capital infusions to stimulate expansion. In a recent interview, Blinkit CEO Albinder Dhindsa expressed a similar perspective, stating that the majority of the company’s expenses arise from expansion efforts. Dhindsa stated that the expenses associated with expansion are inescapable, whether incurred through marketing or idle costs. Based on Blinkit’s growth trends, the company may have managed to offset its expansion expenses, but heightened marketing expenditures have impeded progress.

    Zepto Adds More than 20 Dark Stores in Tamil Nadu

    Beyond Chennai, Zepto, a fast commerce startup based in Bengaluru, has already established itself throughout Tamil Nadu. Coimbatore, Tiruchirappalli, Madurai, Vellore, and Salem are just a few of the districts in the state where the company has started operations. With more than twenty dark stores open in Tamil Nadu, each one well situated to maximise delivery within two to three kilometres, enabling partners to transport purchases in ten minutes while staying safe, Zepto is poised to solidify its position in the state.

    Zepto users and other clients can purchase delicate coconuts and green vegetables from over 100 farmers in Tamil Nadu, including Palacode and Pollachi. This provides Zepto with a much-needed local connection. With its vibrant cities and high desire for convenience, the state of Tamil Nadu is a crucial market for Zepto, according to Divesh Sawhney, Chief Growth Officer.

    The Race for Quick Commerce is Heating Up

    The rapid commerce industry has evolved into a high-cash-burn sector, with companies allocating billions towards expansion and client acquisition. Industry estimates indicate that the aggregate monthly cash burn of rapid commerce entities, including new entrants, ranges between INR 1,300 and 1,500 crore—more than double in recent months.

    Despite nearing operational breakeven in Q2 FY25, Blinkit’s losses escalated in Q3 FY25, with operating losses rising to INR 103 crore from INR 8 crore in the preceding quarter. Swiggy reported a net loss of INR 799 crore, while Instamart had an adjusted EBITDA loss of INR 578 crore in Q3, compared to INR 358 crore in Q2.

  • Abel Boaz: A Leader of Purpose, A Voice of Change

    What defines a leader? Is it the weight of their achievements or the sound of their applause?

    For Abel Boaz, it’s neither.

    Success, to him, is something far deeper — more human.

    “True success is when your story becomes the spark that lights someone else’s fire,” he says.

    Abel’s journey isn’t just about building businesses — it’s about building people. It’s about standing at the intersection of ambition and empathy, showing the world that you don’t have to choose between winning and uplifting.

    His path has been anything but linear. It’s been raw, real, and relentlessly driven by a single purpose: to create a world where dreams are nurtured, voices are heard, and change is inevitable.

    Abellian Finman: More Than Money — It’s About Meaning

    When Abel founded Abellian Finman, it wasn’t because he was obsessed with numbers. It was because he was obsessed with what numbers could do.

    “Money is never the goal,” he says. “It’s the tool. The goal is freedom — the freedom to dream bigger, build louder, and live without fear.”

    Abellian Finman wasn’t born out of a desire to simply advise businesses — it was born out of a need to empower them. Abel saw too many entrepreneurs drowning in financial confusion, afraid to take bold steps because they lacked clarity.

    “A business doesn’t fail because it lacks ideas,” Abel explains. “It fails because it lacks understanding. My job isn’t to fix numbers — it’s to fix mindsets.”

    Today, Abellian Finman has become more than a financial consultancy — it’s a guiding force for businesses, helping them see not just what they earn but what they’re capable of earning.

    BWB Network: Strength in Vulnerability

    But Abel’s mission didn’t stop at boardrooms and balance sheets.

    He noticed something deeper — a silent struggle many men faced, masked behind forced smiles and unspoken words.

    That’s why he created the BWB Network — a movement for men to redefine strength.

    “Being strong doesn’t mean carrying the weight of the world alone,” Abel says. “It means having the courage to say, ‘I need help,’ and the heart to say, ‘I’m here for you.”

    The BWB app is more than just a platform — it’s a brotherhood without borders. A place where men can speak without fear, listen without judgment, and grow without limits.

    From mental health struggles to professional setbacks, the BWB Network encourages men to embrace their full selves — not just the version the world expects them to be.

    “Vulnerability isn’t a weakness,” Abel asserts. “It’s the bravest thing a man can show.”

    With each conversation sparked and connection made, the BWB Network is proving that strength lies not in silence but in solidarity.

    Abellian Cosmetics & Wellness: Beauty with a Conscience

    Then came Abellian Cosmetics & Wellness — Abel’s bold foray into the world of beauty and well-being.

    But for him, this venture wasn’t about creating another skincare brand. It was about rewriting the narrative of self-worth.

    “Wellness isn’t about looking perfect,” he says. “It’s about feeling at peace — with your skin, your mind, and your heart.”

    Abellian Cosmetics blends ancient traditions with modern science, curating products that go beyond surface-level beauty. Abel believes in creating formulas that not only nourish the skin but also empower the spirit — because true beauty, in his eyes, starts from within.

    “When you treat yourself with care,” Abel reflects, “you’re not just healing your skin — you’re healing your soul.”

    What sets Abellian Cosmetics apart is its commitment to inclusivity and sustainability — not as a trend but as a principle.

    Because for Abel, every brand he builds carries a promise — a promise to create not just profits but positive change.

    The Man Beyond the Mission

    But who is Abel Boaz — beyond the boardrooms, the apps, and the brands?

    He’s the man who listens more than he speaks.

    The leader who shows up for others when no one’s watching.

    The dreamer who wakes up every morning asking not, “What can I achieve?” but “Who can I uplift today?”

    “I don’t want to be remembered for what I built,” Abel says. “I want to be remembered for the lives I touched.”

    It’s this unshakable belief in people over power that makes him more than just a businessman — it makes him a movement.

    Looking Ahead: The Legacy in Motion

    What’s next for Abel Boaz?

    More businesses? Likely.

    More innovation? Certainly.

    But if you ask Abel, his future isn’t measured by what he’ll build next — it’s measured by whom he’ll inspire next.

    “The greatest thing you can build,” he says, “is belief — belief in yourself, belief in others, and belief that tomorrow can be better.”

    And with every venture he launches, every life he touches, and every story he sparks, Abel Boaz is building something far greater than a legacy.

    He’s building a world where success means lifting others — and where every person, no matter where they start, believes they have the power to rise.

    Because in the end, Abel Boaz isn’t just leading businesses.

    He’s leading people.

    He’s leading change.

    And most importantly, he’s leading with his heart.

    Mastering Leadership: Unveiling the Best Books for Success
    The list that encompasses great books that teach the art of leadership is never ending with many newer publications joining the list consistently.
    StartupTalkyKinnary Nensee

  • Amazon Launches Ocelot its First Quantum Computing Chip

    On February 27, Amazon Web Services (AWS) launches Ocelot, its first-generation quantum computing chip, putting it in the race to use the cutting-edge technology ahead of other digital behemoths. The business claims that the new chip, which was created by the California Institute of Technology’s AWS Centre for Quantum Computing, can cut implementation costs for quantum error correction by as much as 90%. Because quantum bits, or “qubits,” can exist in several states concurrently, they might theoretically solve complicated problems exponentially quicker than traditional computers, which use bits that encode values of either 1 or 0.

    Race in Quantum Computing Chip Space

    Both China and the United States have been making significant investments in quantum research, which is regarded as a crucial new subject. Washington has also imposed limits on the export of the delicate technology. Microsoft said that the promise of quantum computing is getting closer to reality when it presented its own quantum processor last week, which it claimed could revolutionise everything from creating new medications to combating pollution. With a close-up of the motherboard’s transistor-powered chip bearing the Majorana 1 and Microsoft logos, Microsoft released the chip that it claims will enable quantum computing in the next years. Google announced the Willow quantum device in December, claiming it could complete a complicated computation in minutes that would have taken a conventional supercomputer millions of years and significantly minimise computing errors. “We think that quantum error correction must come first if we are to create useful quantum computers. We’ve done that with Ocelot,” stated Oskar Painter, the head of quantum hardware at AWS.

    What are the Major Challenges in Quantum Computing?

    The susceptibility of qubits to environmental fluctuations, including heat, vibrations, and electromagnetic interference, which can all result in processing failures, is some of the biggest problems with quantum computing. This is addressed by the design of the Ocelot chip, which, according to AWS, could cut the resources needed for quantum error correction by five to ten times when compared to traditional methods. The findings of AWS scientists have been published in the journal Nature. Painter continued, “With quantum computing, we’re kind of back to the vacuum tube days right now—creating these enormous machines and trying to figure out how to get better, smaller, more resource-efficient components to scale them more effectively.” Although Ocelot is currently a lab prototype, AWS thinks it’s a significant step towards quantum computers that can solve issues that are beyond the capabilities of a standard computer. According to the corporation, it would keep improving its strategy through continuous research and development.

  • Apollo Hospitals and TechEagle Collaborate to Provide 10-Minute Diagnostic Drone Delivery

    Apollo Hospitals, a prominent healthcare organisation, has apparently teamed up with TechEagle, a drone startup, to introduce a 10-minute diagnostic drone delivery service. The hospital chain operator will use TechEagle’s AI-powered autonomous drones to deliver liquid biopsy samples—which are essential for detecting cancer—from collection centres to diagnostic labs in less than ten minutes, according to a media report. According to reports, Sangita Reddy, joint managing director of Apollo Hospitals, introduced the new service during a function in New Delhi. According to the study, the product aims to solve significant delays in diagnosis and treatment by delivering samples in a quicker, safer, and more effective manner. Vikram Singh Meena, cofounder and CEO of TechEagle, commented on the collaboration, saying that Apollo Hospitals uses TechEagle’s AI-powered drones to guarantee that liquid biopsy samples, which are crucial for early cancer detection, arrive at labs in ten minutes. The healthcare sector should have the same speed and efficiency as consumer logistics, and the partnerships that make that possible are essential.

    Drone can be a Real Game Changer in the Healthcare Sector

    According to reports, Reddy claimed that drone-based healthcare delivery had proven effective in African countries. Drones can be utilised for a variety of purposes, including emergency medical deliveries and the transportation of organs. Healthcare is going to be safer, quicker, and more effective in the future. TechEagle, a drone logistics firm founded in 2017 by Meena and Anshu Abhishek, both of whom are graduates of IIT Kanpur, provides its customers with on-demand autonomous drone delivery. The Vertiplane X3, its flagship model, is said to have a 100 km single-flight range, a 5 kg cargo capacity, and a top speed of 120 km/h.

    TechEagle Focuses on Last-Mile Logistics in Urban and Semi-Urban Areas

    TechEagle mainly works in the beyond visual line of sight (BVLOS) drone operations market, concentrating on last-mile logistics in urban and semi-urban settings. The firm raised an unknown amount of money in a round co-led by Inflection Point Ventures and Navam Capital in May 2024. According to TechEagle, it has provided services to organisations like the World Bank, Swiggy, Vodafone-Idea (Vi), AIIMS, and several state governments thus far. The development coincides with positive advancements in the drone technology sector in India. A day ago, DroneAcharya, a publicly traded drone manufacturer, obtained type certification from the Directorate General of Civil Aviation (DGCA) for their multifunctional drone, AgriVeer. IdeaForge, another publicly traded drone technology business, stated earlier this month that it will invest $1.83 million to purchase a minority share in Vantage Robotics, a US-based UAV manufacturer. Dreamfly Innovations, a Bengaluru-based company that provides drone battery solutions, raised $1.4 million in its seed round, which was headed by Avaana Capital, in February alone.

  • The Newly Appointed SEBI Chairperson, Tuhin Kanta Pandey, will Serve a Three-Year Tenure

    For a three-year tenure, India’s Finance Secretary Tuhin Kanta Pandey has been named the Securities and Exchange Board of India (SEBI) 11th chairwoman. Madhabi Puri Buch, who will finish her three-year term as SEBI’s first female chairwoman on Friday, February 28, 2025, will be replaced as SEBI chief by the seasoned financial bureaucrat. The Cabinet has authorised the appointment of Pandey, IAS (OR: 1987), Finance Secretary, and Secretary, Department of Revenue, to the position of SEBI chairperson, the government’s Appointments Committee of the Cabinet (ACC) announced in a notification on February 27. The first term of Pandey’s appointment is three years from the day he takes over.

    Who is Tuhin Kanta Pandey?

    Pandey had a stellar career before this, holding important positions such as head of the Department of Public Enterprises (DPE) and the Department of Investment and Public Asset Management (DIPAM). He was especially well-known for managing the historic sale of Air India and LIC’s initial public offering. In his capacity as Finance Secretary, Pandey played a critical role in overseeing the ministry’s functioning and providing policy advice to the Finance Minister. He played a key role in forming India’s fiscal and economic policies while representing the ministry before the Parliamentary Public Accounts Committee. With his extensive background in financial management and governance, Pandey now leads SEBI, ushering in a new era in his remarkable career.

    Pandey has an MBA from the UK and an MA in Economics from Punjab University in Chandigarh. Throughout his career, he has held important administrative positions in both the central and state governments of Odisha. In addition to holding a number of jobs in industries like health, transportation, and commercial taxation, he was the Deputy Secretary in the Ministry of Commerce and the District Collector of Sambalpur. Prior to his leadership position at DIPAM, where he oversaw significant disinvestment activities, he served as Joint Secretary at the Planning Commission. In 2021, he also served for a short time as Secretary in the Ministry of Civil Aviation.

    He has held a number of positions with the Indian and Odisha governments. Kanta Pandey was the administrative head of the departments of finance, transportation, general administration, health, and commercial taxation in the early years of his career.

    In addition, the top officer was the managing director of the Odisha Small Industries Corporation and the executive director of the Odisha State Finance Corporation. His prior roles at the Centre included Deputy Secretary in the Ministry of Commerce, Joint Secretary, Cabinet Secretariat, and Joint Secretary, Planning Commission (now NITI Aayog).

    After Madhabi Puri Buch, Tuhin Kanta Pandey Takes Over

    When the Indian stock market is under negative pressure due to the continued withdrawal of capital by FIIs, Pandey will assume the role of head of the market watchdog. Since January 2025, foreign portfolio investors (FPIs) have taken out about INR 1 lakh crore.

    In order to prevent retail investors from placing bets on dangerous financial instruments, Madhabi Puri Buch, the first woman to lead SEBI, implemented significant regulatory measures, including stricter guidelines for India’s derivative markets. In order to expand the scope of financial investments, Buch promoted safer, modest investment possibilities.

    Additionally, Buch has pushed the Indian markets towards same-day settlement and mandated stricter disclosures for fund houses and corporations. During her tenure, she led a comprehensive reform of the laws governing the trading of equity derivatives in India, which became the leading location for these products globally.

    Why was Madhabi Buch replacedIndia?

    In March 2022, Madhabi Buch became the first woman to serve as the Chairperson of the SEBI. After US short-seller Hindenburg Research accused her of having conflicts of interest with regard to offshore finances associated with the Adani Group, she faced criticism towards the end of her three-year term, particularly from opposition parties. Concerns over possible bias in SEBI’s regulatory operations were raised when the Congress and other opposition parties called for her resignation. Allegations were also made concerning her financial statements’ transparency and potential partiality to particular financial institutions. But she maintained her position despite the accusations, dismissing them as baseless allegations.

  • For Intelligent Search on its app, Paytm Collaborates with Perplexity AI

    Paytm (One97 Communications Ltd.), a digital payments startup, announced on 27 February that it has teamed up with Perplexity, a US-based artificial intelligence company, to incorporate AI-powered search features into its app. According to a release from Paytm, the partnership would enable customers to ask common enquiries, research subjects in their native tongue, and leverage AI-driven insights to make wise financial decisions. According to Paytm’s founder and CEO, Vijay Shekhar Sharma, the company is enabling millions of Indian users to benefit from artificial intelligence (AI) through Perplexity, which will make financial and knowledge services easier to use and more accessible.

    Why Paytm Chooses Perplexity AI?

    Known as an AI-powered “answer engine,” Perplexity provides users with sourced, real-time answers to their questions. According to the company, the integration of its technologies into the Paytm app is intended to assist customers in making well-informed decisions, especially when it comes to managing their money and examining market trends. Perplexity’s conversational ‘response engine’ uses real-time, reliable sources to provide users with in-line citations for their queries. Former employees of OpenAI, Meta, Quora, Bing, and Databricks launched the business in 2022. According to Aravind Srinivas, CEO and co-founder of Perplexity, the company’s AI-powered search technology will enable millions of people to get reliable, real-time answers so they can easily make educated judgements.

    India’s Growing Digital Economy

    India’s digital economy, which accounted for 11.74% of the country’s GDP in 2022–2023 (INR 31.64 lakh crore, or USD 402 billion), has become a major driver of economic growth. The digital economy, which employs 14.67 million people (2.55% of the total), is almost five times more productive than the overall economy, as per the central government’s data. The core digitally enabled industries, which include ICT services and the production of computers, communication devices, and electronic components, accounted for 7.83% of GVA (Gross Value Added), with digital platforms and intermediates contributing an additional 2%.

    Additionally, 2% of GVA was added by digitisation in conventional industries like retail, education, and BFSI, demonstrating the widespread influence of digital transformation. By 2029–2030, the digital economy is expected to surpass manufacturing and agriculture in terms of its contribution of GVA, reaching 20%. Rapid AI use, cloud services, and the emergence of global capability centres (GCCs), of which 55% are located in India, are important growth drivers. Multinational firms created GCCs as offshore hubs to offer a range of services to their parent companies, such as business process management, IT support, and research and development.

    By incorporating AI-powered search into the Paytm app, Paytm is tackling this issue and empowering users to ask common enquiries, research subjects in their native tongue, and make wise financial choices. This invention strengthens digital literacy and reaffirms our dedication to advancing technology for an India powered by AI and smarter.

    Government and Paytm Partner to Boost Capital, Market Access for Firms
    The Government and Paytm have signed an MOU to support Indian companies by offering capital, market access, and mentorship to boost business growth.
    StartupTalkyNitin Konde