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  • Zomato Hyperpure Rents Warehouse in Lodha Industrial Park with more than 250k Sq/ft

    A warehouse space totalling 253,421 square feet has been leased by Zomato Hyperpure. The warehouse is situated in Palava, which is a part of the Mumbai metropolitan area (MMR), near Lodha Industrial and Logistics Park. The lease will begin on February 15, 2025, and last for five years.

     The facility would be rented for more than INR 85.3 lakh per month by Zomato Hyperpure, a business-to-business (B2B) platform for kitchen solutions established by the restaurant aggregator Zomato, with a 5% annual rent increase. The rent will increase to INR 1.04 crore per month by the fifth year. A four-month rent security deposit has already been given by the business.

    Further Financial Transactions of the Deal

    Propstack, a provider of real estate data, analytics, and workflow solutions, submitted the registration documents. The transaction was filed with the Ulhasnagar sub-registrar’s office in Thane, incurring a stamp duty of INR 14.73 lakh and a registration charge of INR 1,000.

    Over 6.5 million square feet of warehouse and industrial parks are presently being developed by the Lodha Industrial and Logistics Park (LILP) throughout the Delhi National Capital Region (NCR), Chennai, and MMR. In the upcoming five years, it intends to greatly expand its business.

    Operations of Hyperpure

    Through Hyperpure, Zomato provides restaurants with groceries, fruits, and vegetables. Over the last few quarters, the B2B industry has been growing steadily. Revenue for Hyperpure nearly doubled to INR 1,473 Cr in Q2 FY25 from INR 745 Cr in Q2 FY24. Hyperpure introduced the “Express” delivery service in November 2024, which allows things to be delivered between 30 minutes and 4 hours. Prior to that, Zomato also announced that it would establish a processing facility to supply Hyperpure’s restaurant partners with value-added food supplies, such as sauces, spreads, and pre-cut and semi-finished perishable goods. The most recent development occurs over a month after the foodtech major used a qualified institutional placement (QIP) to raise INR 8,500 Cr, or over $1 billion. The company stated in its QIP filing that it will spend roughly INR 2,137 Cr from the issuance to set up and operate the warehouses for Hyperpure and the dark stores for its rapid commerce arm, Blinkit.

    Zomato Going Beyond Food Delivery

    According to the official document, Zomato’s capacity to expand its network of warehouses and dark stores in important areas is essential for the company’s growth in its B2B Supplies (Hyperpure) and rapid commerce sectors. Zomato has been launching a lot of new products for its other verticals, such as rapid commerce and meal delivery. The startup formally announced last week that Blinkit’s 10-minute meal delivery app, Bistro, had launched. Additionally, Zomato introduced a new 15-minute food delivery service in select areas of Delhi NCR.

    Swiggy Getas MCA Approval to Launch Sports Arm
    Swiggy secures MCA approval to include a sports arm in its operations, marking a significant expansion of its business portfolio.
    StartupTalkyNitin Konde

  • Swiggy Receives MCA Approval to Include Sports Arm

    The corporate affairs ministry (MCA) has given foodtech giant Swiggy permission to incorporate Swiggy Sports Private Limited, its sports division. The company stated in an exchange filing on January 16 that the newly incorporated entity’s primary goals will be to engage in sports team ownership, management, talent development, event organisation, and facility operation; provide career services; acquire broadcasting and sponsorship rights; and promote sporting events using a variety of business models, among other activities.

    The approval follows a month after the foodtech major’s board approved the establishment of a new subsidiary to serve the sports and entertainment and recreation sectors. When Swiggy announced the establishment of the subsidiary in December, it stated that it was solely going to house the Mumbai pickleball team that it had purchased from the World Pickleball League (WPBL). According to Swiggy, the brand’s current connection in sports is restricted to owning the pickleball team’s rights in Mumbai, and there are no intentions to get further involved in sports.

    Swiggy Expanding its Network and Services

    The most recent development coincides with Swiggy‘s aggressive expansion into new markets and introduction of additional products. It just released its new “SNACC” app, which provides meal delivery in a few areas of Bengaluru in 15 minutes.  With the release of a new app called Pyng Professional last week, it also made an entry into the services marketplace business. In the meantime, Swiggy Scenes, a new service that allows customers to reserve parties and events at Swiggy’s partner restaurants, was introduced by the firm in December. Before that, Swiggy also unveiled “One BLCK,” a new premium invite-only membership club.

    In an attempt to cut down on food waste throughout its value chain, listed foodtech giant Swiggy has started a new campaign called “Swiggy Serves.” In an effort to combat hunger nationwide, Swiggy intends to redistribute excess food from its restaurant partners to underprivileged areas, the firm announced in a statement. The non-profit Robin Hood Army, based in Delhi NCR, has partnered with the Sriharsha Majety-led company on the Swiggy Serves project. By the end of 2030, it hopes to deliver 50 million meals to underprivileged communities. With the help of more than 126 restaurant partners, the two have already redistributed 2,000 meals among 33 locations as part of the recently established campaign’s trial.

    Zomato Also Catching Up

    Aiming to expand beyond its core food delivery services and hyper commerce, Zomato launched ‘District’ in August of last year with the goal of consolidating its going-out business, which includes eating and ticketing (movies and events). With this, Zomato entered a number of new markets under one corporate umbrella, including lifestyle services, sports ticketing, live events, retail, staycations, and more. Swiggy’s most recent move is expected to expand the rivalry between the two titans in rapid commerce beyond the food delivery industry.

    Dunzo App and Website Go Down Amid Employee Exodus
    Dunzo’s app and website experience downtime as the company faces significant employee departures, raising operational concerns.
    StartupTalkyNitin Konde

  • Meta Fears an Antitrust Verdict in India May Require Features to be Rolled Back

    According to a court petition by the U.S. company, Meta may have to “roll back or pause” some functionalities in India because of an antitrust injunction that prohibited its WhatsApp messaging service from sharing user data with Meta for advertising purposes. The Competition Commission of India’s (CCI) November ruling, which ruled that the firm exploited its power and “coerced” WhatsApp users into agreeing to a 2021 privacy policy that allegedly increased user data collecting and sharing and gave it an unfair edge over competitors, is being challenged by Meta.

    In India, Meta’s largest market, where there are over 350 million Facebook users and over 500 million WhatsApp users, the CCI has fined the company $24.5 million and banned it from exchanging data for five years. Although Meta has publicly defended its policy change and stated that it disagrees with the CCI order, the U.S. corporation is clearly uneasy about the CCI’s decision, as evidenced by its appeal file, which takes a critical stance on the watchdog’s operations.

    Company’s Major Concern

    The business is worried that the prohibition on WhatsApp-to-Meta user data exchange could limit its capacity to provide consumers with customised advertisements on Facebook and Instagram, according to the company’s filing with the Indian appeals panel on January 3.

    WhatsApp claims in public that it gives Meta access to a user’s phone number, transaction history, business interactions, and mobile device data. For the first time, Meta explained the implications of the order in its petition, stating that the data sharing ban may prevent an Indian fashion company from customising Facebook or Instagram advertisements based on their conversation with a WhatsApp user about a particular clothing line.

    According to the business, using the solution in its broadest sense will probably necessitate Meta pausing or reversing a number of features and products. It affects WhatsApp’s and Meta’s capacity to continue operating profitably, albeit it is impossible to pinpoint the precise financial impact on the company. Facebook India Online Services, a registered company that sells advertising inventory in India, claimed $351 million in income in 2023–2024—the most in at least five years.

    Meta’s Worldwide Concerns

    Meta’s worldwide problems are made worse by the antitrust issues in India. WhatsApp was charged in 2021 with breaking EU law by neglecting to provide clear and understandable explanations for policy changes. Later on, it consented to inform EU users of the modifications.

    The Indian case began in 2021 in response to complaints about modifications to WhatsApp’s privacy policies. Meta informed the CCI that the modifications did not increase its capacity for data gathering and exchange, but rather served merely to notify them about the operation of optional business messaging capabilities. According to its November verdict, WhatsApp’s policy lacked an opt-out provision and forced users to accept or risk losing access to the service. The watchdog has mandated that WhatsApp give users the option to choose whether or not to share data with Meta.

    Meta to Lay Off 3,600 Employees, Focusing on AI and Innovation
    Meta plans to lay off 3,600 underperforming employees as it shifts focus toward AI development and innovation-driven strategies.
    StartupTalkyNitin Konde

  • In Order to Increase Liquidity in the ESOP Market, Hissa Develops a $35M Fund

    With a $35 million corpus, equity management platform Hissa has introduced Hissa Fund I to give the Indian employment stock option plan (ESOP) market liquidity. Established as a SEBI-registered Category II Alternative Investment Fund, the company would seek to invest in 15 to 20 companies in the development stage and collaborate closely with the founders to offer liquidity to support talent retention and business expansion plans. The fund’s target ticket size for each company is between INR 8 crore and INR 10 crore. Employee stock ownership plans, or ESOPs, provide staff members a stake in the business through share ownership. These options, however, are only exercisable upon an IPO or acquisition.

    Reason Behind the Move

    Businesses are taking longer to require public assistance as more and more capital enters the private markets, claims Satish Mugulavalli, a partner at Hissa Fund. Employees now own illiquid firm shares for extended periods of time as a result of this. This deficit will be addressed by the new fund. Hissa thought it was a little unfair that those who are assisting in the development of these businesses are unable to reap the value created due to a lack of liquidity. As a result, the business introduced a liquidity product that allows founders to supply periodic liquidity without having to wait for an exit. “Business owners are seeing some sort of liquidity happening in the middle,” Mugulavalli told a media outlet, “but the big liquidity will happen at the end (through an IPO or an acquisition).” Founders, high-net-worth individuals (HNIs), and family offices that have previously made investments in startups make up the majority of the fund’s limited partners (LPs). But according to Mugulavalli, it was too soon to reveal these LPs’ names.

    Following the FootSteps of VC Fund

    Like any other VC fund, Hissa will have stock selection criteria. It has valuation requirements that must be fulfilled and is aggressively seeking Series B companies. The startup’s offer will be based on the company’s most recent valuation, but like all financial assets, the asset may be valued at a premium or a discount, depending on the business. It can cost more if the business is doing really well. However, that is a choice that is made at that particular moment. ‘However, you’ll be anchored by the company’s most recent major funding round”, Mugulavalli stated. By the conclusion of the current fiscal year or the first quarter of FY26, the fund intends to fully distribute the entire amount.

    The fund has several choices to exit a business because ESOPs can only be activated in the event of an acquisition or if the company files to go public. Given that it does not own a sizable stake in the business, the fund may retain the shares until the firm goes public or is bought, or it may sell them whenever a major fund makes an investment in the business.

    Meta to Lay Off 3,600 Employees, Focusing on AI and Innovation
    Meta plans to lay off 3,600 underperforming employees as it shifts focus toward AI development and innovation-driven strategies.
    StartupTalkyNitin Konde

  • With an Emphasis on AI and Innovation, Meta Plans to Fire 3,600 Underperforming Employees

    According to an internal document obtained by a renowned media outlet, Meta, the parent company of Facebook, Instagram, and WhatsApp, intends to fire some 3,600 workers who have been deemed low performers. The decision, according to CEO Mark Zuckerberg, is an attempt to “raise the bar on performance management and move out low performers faster” as the business continues to develop immersive products and AI-powered services.

    About 5% of Meta’s staff, which stood at 72,400 as of September, will be affected by the layoffs. According to an international news outlet, U.S. employees should receive status updates by February 10; notices for other countries will follow. Zuckerberg stated, “Meta wants to make sure that it has the best people on its team because this is going to be an intense year.”

    Meta recently abandoned its US fact-checking program in favour of a brand-new community notes initiative. Similar to X’s community notes, this community-driven system seeks to enable users to report posts that may be deceptive and offer context by incorporating a range of viewpoints.

    The Roadmap of Future Operations

    Later this year, Meta also intends to bring on new personnel to fill the positions of exiting staff members, who Zuckerberg claims would receive “generous” severance money. Zuckerberg also mentioned that if there is hope for their future contributions, a small number of workers who did poorly in the previous era can be kept on board. Zuckerberg revealed on a recent episode of The Joe Rogan Experience that Meta and other top tech companies are developing AI systems to tackle complicated coding chores that are typically performed by human programmers. He also mentioned ambitions to use artificial intelligence (AI) to replace mid-level software engineers by 2025 during the conversation.

    Other Giants Joining the Job Cut Game

    Meta is not alone, though, in indicating that AI developments are driving firm reorganisation. As part of a larger trend in the tech sector, industry heavyweights like Microsoft and Salesforce have also revealed plans to reduce their workforces. In a 20VC podcast with Harry Stebbing, Salesforce CEO Marc Benioff disclosed that the SaaS giant’s 2025 business plan calls for a significant cutback in the hiring of software engineers for the upcoming year. Agentforce, the company’s proprietary AI platform, is anticipated to encourage a 30% adoption rate among engineering teams.

    “We no longer need additional software engineers because our engineering productivity has grown by 30%,” Benioff said. He asserted that AI had radically altered the way brand operate. Benioff stated that Salesforce will now concentrate on growing its sales team by 1,000 to 2,000 individuals, even if the business intends to eliminate its support engineering positions. Benioff emphasised that Salesforce closed 200 sales in five days during the October-ending quarter after the debut of Agentforce. This quarter, the company now wants to close thousands of Agentforce sales.

    FM Calls for Tech-Savvy Soldiers to Safeguard India’s Online Space
    Finance Minister emphasizes the need for tech-savvy soldiers to protect India’s online environment and strengthen its digital security.
    StartupTalkyNitin Konde

  • Six Bankers are Finalised by Zetwerk to Lead a $500 Million IPO in 2025

    According to reports, Zetwerk, a B2B marketplace backed by Peak XV, has selected six bankers to lead a possible $500 million IPO later this year. According to an international media agency, Zetwerk has nominated Kotak Mahindra Bank, Jefferies Financial Group, Axis Capital, Goldman Sachs Group, JM Financial, and JPMorgan Chase & Co. as bankers for the impending public listing. According to the article, the company is aiming for a valuation of about $5 billion and intends to raise at least $500 million during the IPO. The size and timing of the public listing, however, could yet alter as negotiations are still in their early phases. The most recent event occurred about a month after Zetwerk’s CEO and cofounder, Amrit Acharya, told an Indian news agency that the company intends to go public within the next 12 to 18 months. Additionally, this comes after assertions from November of last year that Zetwerk had begun talks with investment banker JP Morgan for a possible $1 billion initial public offering (IPO) at a valuation of “several billion dollars.”

    Zetwerk’s Funding Rounds Till Now

    Over a month after the B2B marketplace said that it had raised over $70 million in a strategic fundraising round at a $3.1 billion valuation, Zetwerk has accelerated its market launch. Prior to its most recent fundraising round in 2023, the company was valued at $2.7 billion. In 2024, the business raised a total of $90 million from investors including UK-based Baillie Giord, Indigo cofounder Rakesh Gangwal, and Khosla Ventures. Zetwerk, which was established in 2018 by Acharya, Srinath Ramakkrushnan, Rahul Sharma, and Vishal Chaudhary, links manufacturers with suppliers and vendors for the purchase of industrial machine parts. According to the startup, its gross merchandise value (GMV) for the fiscal year 2023–2024 (FY24) was INR 17,564 Cr, or around $2.1 billion. In total, the business has raised over $700 million to far, with backers including Lightspeed, Greenoaks Capital, and Mars Growth Capital.

    IPO Fever Raising High on India’s Startup Stecor

    Indirect rivals of Zetwerk include Moglix and OfBusiness, among others. The startup has rapidly expanded its operations and strengthened its position in industries including electronics and original design manufacture over the last 12 months. As a result, Zetwerk is now the most recent Indian startup to join the IPO trend. Thirteen cutting-edge tech firms, including Go Digit, Swiggy, and MobiKwik, listed on stock exchanges and raised over INR 29,000 Cr through initial public offerings (IPOs) last year. More than twenty firms, including Ather Energy, BlueStone, CarDekho, CaptainFresh, Ecom Express, Fractal, and Infra Market, have aspirations to list on the bourses in 2025.

    Urban Company to File INR 3,000 Cr IPO Draft by March-End
    Urban Company is set to submit draft documents for its INR 3,000 crore IPO by the end of March, marking a significant step toward its public listing.
    StartupTalkyNitin Konde

  • Digantara will use Elon Musk’s SpaceX Rocket to Launch Satellite

    On board SpaceX’s Transporter-12 mission, Digantara, a space surveillance business located in Bengaluru, is scheduled to launch its first dedicated surveillance satellite, SCOT (space camera for object tracking). Notably, SCOT fills in the gaps in the current global space surveillance systems by being built to track resident space objects (RSOs) with high frequency and accuracy. In low earth orbit (LEO), the satellite can track objects as tiny as 5 cm and provide continuous monitoring that is not impacted by weather or geographical restrictions. Digantara CEO Anirudh Sharma stated that the company is taking a significant step towards attaining surveillance superiority with SCOT, guaranteeing not only a more secure and sustainable space environment but also protecting sovereign assets in the face of a space domain that is becoming more and more disputed.

    Facilitating Safer Spacecraft Operations

    By maintaining a sun-synchronous orbit, the satellite will facilitate safer spacecraft operations and allow for ongoing monitoring of the near-Earth environment. Digantara, which was founded in 2018 by Anirudh Sharma, Rahul Rawat, and Tanveer Ahmed, is developing an end-to-end space operations infrastructure with the goal of assisting stakeholders throughout a spacecraft mission’s whole value chain and life cycle. The business wants to build a constellation of satellites to follow things as small as 1 cm, and its flagship product is its own space debris detector. The startup’s Series A1 investment round ended last year with a final close of $12 million. Digantara has garnered $14.5 million in capital to date, supported by companies such as Aditya Birla Ventures, Peak XV Partners, and the state-backed Small Industries Development Bank of India (SIDBI).

    The Ever Expanding Indian Spacetech Market

    Digantara is part of the broader Indian spacetech industry, which has grown significantly in recent years due to government initiatives and a sizable influx of venture funding. As a result, domestic companies like Agnikul, Bellatrix, Pixxel, and Skyroot have emerged at different stages of the space value chain. By 2030, the Indian spacetech market is expected to grow to a size of $77 billion, according to various media reports. Even though there were more agreements last year—14 in 2024 compared to 11 in 2023—the total amount of money raised by Indian spacetech businesses dropped 35% year over year to $81 million, according to the Indian Startup Funding Report 2024.

    Two other Indian space businesses, in addition to Digantara, contributed satellites to SpaceX’s Transporter-12 rocket, which took off from Vandenberg, California, in the United States. Together with ELEVATION-1, a satellite for the US-based Almagest Space Corporation that was entirely planned and produced by Hyderabad-based XDLINX Spacelabs, Bengaluru-based Pixxel launched the first three satellites of its Firefly constellation.

    ASCI Urges LinkedIn Influencers to Disclose Brand Partnerships
    ASCI requests LinkedIn influencers to disclose brand partnerships, promoting transparency and adherence to advertising standards.
    StartupTalkyNitin Konde

  • ASCI Requests Brand Partnership Disclosures from LinkedIn Influencers

    LinkedIn influencers are being urged by the Advertising Standards Council of India (ASCI) to follow the guidelines that require them to disclose any significant relationships they have with the companies, goods, or marketers they endorse. According to a statement from ASCI, this action attempts to maintain the integrity of influencer marketing while guaranteeing compliance with legal and self-regulatory requirements. At least 60 of these occurrences were reported to ASCI by LinkedIn professionals in the last week alone. 56 of these are still being investigated for infractions, primarily related to failure to disclose material links. According to the advertising watchdog, these non-disclosures may violate the Central Consumer Protection Authority’s (CCPA) guidelines, the ASCI code, and the criteria for influencers in digital media. It is important to remember that LinkedIn does not offer platform disclosure features as other social networking sites do. In this situation, the influencers themselves must display the approved disclosure phrases, such as “partnership” or “ad.”

    Current Practices Misleading the Viewers

    According to ASCI, LinkedIn has recently witnessed a number of instances where experts have praised particular goods or services and even advertising campaigns without disclosing that they are involved. These actions deceive audiences, who might think that the opinions expressed by these experts are objective and unaffected by cooperation. Since LinkedIn influencers are seasoned experts and respected authorities in their domains, it is even more crucial that they set an example for responsible influence. Manisha Kapoor, ASCI’s secretary general and CEO, expressed gratitude to the professional LinkedIn community for supporting ASCI by disseminating these links and assisting in maintaining the integrity of the advertising ecosystem. The ASCI has made “The Responsible Influencing Playbook,” an online certification course that covers disclosure rules, regulatory requirements, and self-defence techniques, available to help influencers comply with these restrictions.

    LinkedIn – A Home for Professionals

    LinkedIn is home to one of the biggest job-search websites. Supported by high user participation, the platform has grown beyond job searching to include areas for knowledge sharing, work updates, career history, taking courses, staying up to date on daily news and bulletins, and making formal announcements. The ministry of consumer affairs published new endorsement criteria back in 2023, and those who violated them would face steep fines. According to an EY analysis, the influencer marketing industry in India is expected to grow at a compound annual growth rate (CAGR) of 18% to reach INR 3,375 Cr by 2026.

    Who is ASCI?

    Founded in 1985, the Advertising Standards Council of India (ASCI) is dedicated to the goal of self-regulation in advertising, protecting consumer interests while treating the advertising sector fairly. All four of the advertising-related industries—advertisers, advertising agencies, media (including the press and broadcasters), and other industries including public relations agencies and market research firms—supported the formation of ASCI.

    ASCI promotes responsible advertisers and customers by self-regulating ads to guarantee that they are truthful, respectable, safe, and equitable. By providing pre-production advice services that reduce the possibility of harmful advertisements being created and seen by consumers, ASCI also helps the advertising sector.

    Accel-Backed Breathe Well-Being Fires 100 Workers
    Breathe Well-being laid off over 100 employees during a reorganization, citing runway concerns. CEO Rohan Verma denies funding issues, hinting at new investments.
    StartupTalkyNitin Konde

  • 100 Workers Are Fired by Accel-Backed Breathe Well-Being

    According to a media report, Breathe Well-being, situated in Delhi NCR, laid off over 100 workers during a reorganisation exercise last week. According to the report, the startup’s inability to secure new investment and its short six- to one-year runway were the reasons for the layoffs. The reorganisation exercise may have affected up to 120 people. Nevertheless, the business has laid off 90 of the 290 workers in its India unit, cofounder and CEO Rohan Verma told a media outlet. He also denied the claims of a lack of funds, stating that a new round of funding has been closed by the startup and would be revealed shortly. The report stated that the sales team was particularly hit by the layoffs, which affected workers in a variety of departments, including marketing, technology, and human resources. Nearly three years have passed since a media outlet exclusively revealed that Breathe Well-being had let go of about fifty workers.

    Shifting Focus to US Market

    The US market will now be the primary focus of Breathe Well-being. They said that, aside from the US, it has ceased onboarding new users in Africa, Australia, New Zealand, India, and other markets. In India and other nations, they have been having problems with prices. After serving the current clientele, they plan to shut down within the next six months. They will concentrate on the US market as it is producing results, according to one of the sources. In response, Verma stated that the firm has chosen to concentrate on international markets, particularly the United States. Breathe Well-being, which was founded in 2020, aids in the prevention, treatment, and reversal of Type 2 diabetes. It asserts that it provides a simple yet efficient substitute for medications to do this. According to Verma, the business is helping the affected employees find jobs and offers career counselling in addition to severance money.

    Financial Report

    In its most recent pre-Series B funding round, which was co-led by 3one4 Capital, Accel, and General Catalyst, the business raised $6.1 million. Supermorpheus and FounderBank Capital also participated in the fundraising round. The business has raised more than $10 million thus far, and its backers include Y Combinator and Scott Shleifer, the former CEO of Tiger Global.

    About Breathe Well-Being

    Breathe Well-being’s digital therapeutics program helps people lose weight and prevent or manage chronic lifestyle disorders. Users are able to follow the lifestyle program from the comfort of their own homes because it is remotely supplied via phone and mobile app. Breathe Well-being was founded by Aditya Kaicker and Rohan Verma, and it has shown promise in helping patients reduce or stop taking medication for lifestyle diseases, including Type 2 Diabetes, lose weight, and develop long-term healthy habits. The business is searching for ways to enhance its sales procedures in order to increase the number of people who sign up after the brand’s one-week free trial.

    FM Calls for Tech-Savvy Soldiers to Safeguard India’s Online Space
    Finance Minister emphasizes the need for tech-savvy soldiers to protect India’s online environment and strengthen its digital security.
    StartupTalkyNitin Konde

  • Call for Tech-Savvy Soldiers to Guard India’s Online Environment: FM

    Finance Minister (FM) Nirmala Sitharaman stated on January 13, 2025, that India must develop tech-savvy forces to safeguard its digital world, which is a driver of economic growth, at a time when technology, if abused by special interests, can jeopardise the nation’s financial services and national security.

    Speaking at Rashtriya Raksha University’s fourth convocation event in Gandhinagar, Gujarat, Sitharaman stated that India must now acknowledge the new security threats it faces, which go beyond its boundaries. Technology doesn’t wait to recognise boundaries these days. Even though technology can help us be more productive, some vested interests or evil forces are also abusing it.

    Digital Public Infrastructure Needs to Strengthen

    The FM stated that the digital public infrastructure of the country, which has become a source of empowerment for the populace, is also exposed to threats, such as those posed by banks, the stock market, payment institutions, or platforms that operate online marketing or taxi services.

    According to Sitharaman, India is expanding in the eyes of all of its rivals, many of whom find this growth to be astounding. Numerous well-wishers may be present. According to the FM, there are those who believe that this should not be considered, and who can argue with us?

    She pointed out that many people in the developed world lack the digital skills that India has exhibited over the last ten years. In addition to using physical force to guard its borders, the nation also requires tech-savvy forces that are aware of the dangers they face, Sitharaman stated.

    Sitharaman emphasised that India, which was among the top 25 arms exporters and the second-largest importer of arms from 2015 to 2019, is now a net exporter. According to her, India’s defence production hit a new high of INR 1.27 trillion in 2023–2024, a 2.7-fold increase over 2014–2015. From INR 686 crore in 2013–14 to INR 21,083 crore in 2023–24, defence exports likewise reached an all-time high. “Defence exports have increased thirtyfold,” she said.

    Importance of  Coastal Security and Maritime Trade

    In addition to praising Rashtriya Raksha University for educating Indian coastal security troops and pointing out that ships transport more than 80% of the world’s goods trade, Sitharaman emphasised the significance of maritime trade and coastal security for national security.

    India’s port capacity has doubled in the past ten years, she added, underscoring the government’s emphasis on enhancing port infrastructure. India has increased its port capacity in the past ten years. “And I want you to be sure that the policy of Prime Minister Narendra Modi is to ensure that our borders are given that much attention with policy and money,” she said.

    Urban Company to File INR 3,000 Cr IPO Draft by March-End
    Urban Company is set to submit draft documents for its INR 3,000 crore IPO by the end of March, marking a significant step toward its public listing.
    StartupTalkyNitin Konde