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Tag: #news

  • BeyondSquare Solutions Raises USD 4 Million from Avant Global Corporation to Accelerate Growth of FinAlyzer Platform

    BeyondSquare Solutions Pvt Ltd., the Bengaluru-based IT product enterprise behind the flagship product FinAlyzer, today announced that it has raised USD 4 Million as Series A funding from Avant Global Corporation. The investment will be executed in three stages, beginning with the issuance of new and convertible shares, followed by additional subscriptions from existing shareholders, and ultimately, the conversion of warrants upon achieving defined performance milestones. This capital infusion not only validates BeyondSquare’s business model but also positions the company for accelerated growth in global markets.

    Founded by Karthik Ganeshan, Venkatachalam PK, and Dr. Rangan Varadan, BeyondSquare Solutions built FinAlyzer — a fully India-developed financial consolidation and reporting solution that automates close, consolidation, and compliance, bringing global-class accuracy and transparency to CFOs.. With its ability to integrate seamlessly with diverse ERP and accounting systems, FinAlyzer delivers real-time insights, strengthens governance and reduces operational risks for Finance teams.

    Market Opportunity

    The market opportunity for financial consolidation and reporting platforms is expanding rapidly. According to Credence Research, the global financial consolidation software segment is projected to double from USD 3.2 billion in 2024 to USD 6.4 billion by 2032, at a CAGR of around 11–11.4%. Tapping into this growing demand, FinAlyzer, which  is already trusted by over 100 enterprises across 25+ industries in more than 45 countries, including several Fortune 500 India companies and Fortune 2000 global enterprises,  aspires to extend its international footprint, particularly in the Middle East, Europe and South East Asia,, while continuing to build leadership and technical talent within its 40-member team.

    Use of Funds

    With the fresh infusion of funds, BeyondSquare Solutions plans to strengthen FinAlyzer’s core capabilities by expanding automation, deepening compliance intelligence, and enhancing scalability for enterprises with complex reporting structures. The goal is to establish FinAlyzer as the platform of choice for finance leaders worldwide, without compromising on the trust and responsiveness its customers rely on today. 

    Speaking on the announcement, Venkatachalam PK, Co-founder & CEO, BeyondSquare Solutions, added: “From the outset, our ambition at FinAlyzer has been bold — to transform the way enterprises approach financial reporting and consolidation by making it real-time, autonomous, and insight-driven. With Avant’s investment, we are not just strengthening our platform; we are accelerating our journey toward shaping the future of finance. This partnership opens new possibilities — deeper innovation, global market expansion, and the ability to empower more finance teams to lead with agility, governance, and foresight. Our mission remains constant: to turn complexity into clarity, so finance leaders can focus on driving value and making informed decisions at the speed of business.”

    On the investor side, Gen Nagata, CEO of Diva Corporation and Group Chief Business Officer, Avant Global Corporation, said, “Avant Group has always believed that true growth comes from innovation and collaboration. This partnership reflects our commitment to innovation and our Be Global vision—bringing together the strengths of diverse teams to create solutions that are relevant not only in Japan, but across the world. We look forward to shaping the future of financial governance together.”

    Karthik Ganeshan, Co-Founder & Chief Customer Officer of BeyondSquare Solutions, said, “This investment is more than capital—it’s a powerful vote of confidence in our mission and the future we’re building. Avant brings a global lens and deep expertise in financial consolidation and reporting automation, amplifying our ability to deliver unparalleled value to finance teams. Together, we’re poised to make FinAlyzer an even stronger strategic partner for CFOs and controllers worldwide. Our vision is unchanged; our capacity to execute has dramatically expanded.”

    Echoing this sentiment, Surendra Sharma, CEO of DivaCygnet and Managing Director, Global Business, Avant Group Corporation, commented, “At Avant Group, our philosophy has always been to Be Global—to think beyond borders and build partnerships that create impact at scale. This collaboration is a step in that direction. By combining Avant and Beyond Square’s strengths, we aim to deliver solutions that raise the bar for governance, transparency, and sustainable growth worldwide.”

    _________________________________________________________

    About BeyondSquare Solutions

    BeyondSquare Solutions Private Limited, headquartered in Bengaluru, is an enterprise-tech company focused on solving critical challenges in financial reporting, analytics, and decision-making. Its flagship product, FinAlyzer, streamlines consolidation and reporting by integrating effortlessly with multiple ERP and accounting systems—delivering consistent, reliable data across entities, geographies, and currencies.

    About Avant Global Corporation 

    Avant Global Corporation, headquartered in Tokyo, is a leading enterprise software group committed to advancing transparency, accountability, and sustainable value creation. Since its founding in 1997, the company has focused on empowering organizations worldwide with technology-driven management solutions.

  • Tesla Stock Jumps 6% After Elon Musk Buys 2.57 Million Shares: Here’s Why

    Do CEOs buy personal stocks from their own companies? Yes, they do. One notable example is Elon Musk, who bought Tesla’s stock after five years. On September 12, 2025, he purchased 2.57 million shares worth $1 billion. So, what made him do this? Is it his strategy to pull in more investors, because Tesla’s stock price jumped 6% on Monday, right after the news made the headlines? Well, it’s clear that the way of the world’s richest man is something many investors want to follow. Or is it simply Elon’s trust in Tesla despite its recent struggles with declining sales? Learn more.

    What Happened?

    On February 14, 2020, Elon bought about 200,000 shares worth $10 million. But this time around, he raced for a big chunk and bought 2.57 million shares, spending about a staggering $1 billion. It’s his biggest personal stock buy ever.

    Tesla’s Stock Situation After Elon Bought Its Shares

    Tesla’s stock rose more than 25% in the last 3 months. However, just before the news broke out, Tesla’s share price was down for 2025 overall. Tesla’s total market value (all shares included) was $1.3 trillion at the closing on Friday. And after the news, the stock price soared 6%. 

    Well, generally, when a company’s CEO buys their own company shares (and at such a huge amount), it sends out a signal of belief. And the investors worldwide take this as a “vote of confidence,” which is why Tesla’s stock price went up.

    Elon Musk annoucing Tesla's stock hike on the plaform 'X'
    Elon Musk annoucing Tesla’s stock hike on the plaform ‘X’

    Bigger Picture: Musk’s Pay & Tesla’s Plans

    • Do you know that Elon Musk is about to receive a new paycheck? Is the world’s richest man getting even richer? Yes, Tesla announced that it will ask its shareholders to approve a new pay package for Musk.
    • To put it in perspective, this isn’t a typical paycheck but a long-term stock-based incentive package.
    • For this to happen, Tesla must achieve all the set milestones. Elon could receive a package valued at $975 billion to $1 trillion over the next decade if the goals are met.
    • Currently, the goal is to reach a market capitalization of $8.5 trillion and to expand into robo-taxis and vehicle production.

    Problems Tesla Is Facing

    It would be interesting to see how Teslac aims to go from today’s $1.3 trillion to $8.5 trillion, given that it’s struggling with dropping sales. Reasons:

    • Musk’s political involvement in recent times has hurt Tesla’s brand. Its customers have openly shown a major dislike for it.
    • Additionally, after a feud with President Donald Trump, his administration has ended government incentives, which have impacted the purchase of electric cars in the U.S.

    What Experts Are Saying?

    Several mixed opinions are rising, one of the famous is the Wall Street consensus (according to TipRanks.com), which predicts that Tesla stock could drop another 20% from here.

    On the other hand, Dan Ives, a renowned tech analyst, said Musk’s $1 billion purchase is a “huge sign of confidence.” 

    Additionally, Musk himself is confident that Tesla’s future lies in AI and robotics, and he is “doubling down” on that belief. 

    Many other analysts have offered a positive outlook on the long-term impact, but if Tesla shifts its focus toward:

    • Autonomous driving (self-driving cars)
    • Artificial Intelligence (AI)
    • Robotics

    Talking about Artificial Intelligence, Musk is also urging Tesla’s shareholders to approve an investment in his new company, xAI. So, will Tesla’s journey from $1.3 trillion to $8.5 trillion earn Elon Musk his $1 trillion paycheck? 

  • Ghazal Alagh Shares Simple Trick to Boost Productivity: The ‘Landline Method’

    Mamaearth co-founder Ghazal Alagh has shared a practical approach to productivity that does not involve hustling harder, but rather changing how we use our phones. Writing on LinkedIn, she explained that “Monday motivation isn’t about hustling harder than you already are. It’s about removing what’s quietly sabotaging your focus every single day.”

    How the ‘landline method’ improves focus and productivity

    Like many professionals, Alagh admitted she often found her attention drawn to notifications instead of solutions. She wrote that her mind was “fragmented when it needed to be sharp.”

    To counter this, she began practising what she calls the “landline method.” Instead of keeping her phone close at all times, she now leaves it on her desk during meetings and away from her pocket during important conversations.

    The results, she noted, were immediate. “I could finally give my full attention to building something meaningful,” Alagh shared.

    The science behind attention loss

    Alagh’s advice is backed by research highlighting the impact of constant phone use on productivity. She cited three striking findings:

    • Attention spans have dropped from 2.5 minutes in 2004 to just 47 seconds today.
    • It takes an average of 23 minutes to regain full focus after a phone interruption.
    • Even when switched off, the presence of a phone nearby reduces cognitive capacity by 10%.

    These statistics underline how modern technology has been engineered to demand attention, often at the cost of deep focus.

    Why attention management is key to workplace productivity

    Alagh urged her followers to view attention as their most valuable resource. She encouraged professionals to experiment with the landline method, even if just for a day. “Keep your phone physically distant during your most important activities,” she advised.

    She added a reminder: “Your phone didn’t naturally shrink your attention to 47 seconds. It was engineered that way. And now you can engineer it back.”

    A relatable shift for professionals

    Alagh’s post resonates with many working professionals who struggle to balance productivity with constant connectivity. By framing her advice as a small, actionable experiment, she avoids the pressure of drastic lifestyle changes and instead suggests a manageable shift that could bring immediate benefits.

    Her message blends personal experience with scientific backing, making it both relatable and credible. It also positions her advice within the broader conversation on digital wellbeing, a growing concern in workplaces worldwide.



    The takeaway

    For those beginning the week, Alagh’s insight offers a reminder that productivity may not always come from working harder, but from working with more focus. The landline method, simple as it sounds, could be a timely tool to get back your attention in an age of digital overload.

    Ghazal Alagh Shares Why Most Startups Fail Due to Mental Barriers
    Learn from Ghazal Alagh why mental barriers, not lack of funding, stop many startups. Overthinking, perfectionism, and waiting for the “right time” hold founders back.
    StartupTalkyMuskaan Kapoor

  • Swiggy Launches ‘Toing’ App to Provide Affordable and Fast Meal Delivery Services

    To provide consumers with affordable meal options, listed foodtech giant Swiggy has launched a new food delivery app called “Toing”. The app delivers meals for less than INR 250 and is presently available in a few Pune locales. According to the Google Play Store app description, Swiggy’s “Toing” service offers you dependable delivery throughout your city, honest pricing, and reasonably priced meals.

    Since its August 30 release in the app marketplace, the app has received over 500 downloads, according to the company. The development was initially reported by Moneycontrol. Over the past few months, the company has increased its efforts to provide affordable meals.

    The Swiggy app’s “99 Store” feature was introduced in July, providing fast food alternatives priced between INR 49 and INR 149. In order to satisfy the demands of cost-conscious consumers and offer reasonably priced solutions to the frequent Gen-Z buyer, the feature was introduced.

    Swiggy’s New Business Strategy to Attract More Customers

    The company has been aggressively raising its platform fees for food delivery at the same time as it is focusing on offering cheaper meal deliveries. It raised its platform costs to INR 15 for each order in September. Earlier in July and August, the business had implemented comparable pricing increases.

    Following the recent modifications to the GST scheme, food delivery costs are anticipated to increase. Delivery rates for food and fast commerce (local) deliveries will henceforth be subject to an 18% tax. For Zomato, where delivery costs typically range from INR 11 to 12, the adjustment will add roughly INR 2 to every order. Given that Swiggy’s delivery fees average INR 14.5, the company may experience a bigger impact of INR 2.6 per order.

    Swiggy’s Expansion Beyond Food Delivery

    Swiggy is now launching a lot of new products, and they’re not just food delivery services. In June, the foodtech major introduced a concierge service for travel and lifestyle via a brand-new app named “Crew.” Crew is a customised concierge app made to help customers with a variety of routine and unique chores.

    Pyng, Swiggy’s professional services marketplace app, was also released earlier this year. Swiggy Genie, the company’s delivery service, has been paused while it aggressively tests out new offerings. Swiggy released its financial results for the first quarter of the fiscal year 2025–2026 (Q1 FY26) last week. As it kept making investments to grow its rapid commerce activities, the company’s deficit increased in the first quarter. In the June quarter, the company’s net loss increased by 96% to INR 1,197 Cr from INR 611 Cr in the same period last year.

    Quick
    Shots

    •Currently available in select Pune locations; over
    500 downloads since Aug 30 launch.

    •Promises honest pricing, dependable delivery, and
    budget-friendly meals.

    •Follows launch of Swiggy’s “99 Store” (meals priced
    INR 49–INR 149) to attract cost-conscious users.

    •Q1 FY26 results: net loss widened 96% YoY to INR
    1,197 Cr as company invests in quick commerce    .

  • Centre Proposes 20-Year Tax Exemption for Data Centres to Boost Digital Infrastructure

    The Centre has suggested that data centre developers receive a 20-year tax exemption in an effort to boost the data centre sector. Developers that satisfy the goals for capacity expansion, power usage efficiency, and job creation would be exempt from taxes, as per the draft National Data Centre Policy 2025, which Business Standard analysed.

    According to the report, the Ministry of Electronics and Information Technology (MeitY) is likely to ask the Finance Ministry to permit input tax credit on GST, which is imposed on capital assets like data centre construction, HVAC, air conditioning, and other electronic equipment used in data centres.

    “The government’s proposal of a 20-year tax exemption for data centers is a visionary step that underscores India’s commitment to building a robust digital-first economy. Data centers form the backbone of our digital ecosystem, and this move will not only attract significant domestic and global investments but also accelerate the growth of allied industries such as cloud services, AI, IoT, and interconnection platforms. Such forward-looking incentives act as catalysts that empower enterprises, SMEs, and ISPs to accelerate innovation and growth with renewed confidence. A 20-year tax holiday offers long-term clarity for investors, paving the way for world-class infrastructure, regional data sovereignty, and advanced interconnection. This certainty strengthens India’s digital foundation while ensuring faster, safer, and more dependable services for businesses and citizens alike,” opined Sudhir Kunder, Chief Business Officer, DE-CIX India.

    Draft Policy Currently Being Reviewed

    Stakeholders are presently receiving the draft policy for review and comment. To make power accessible to data centres, the draft policy suggests that the IT ministry work with the Central Electricity Authority, the power ministry, and other important government-led organisations.

    The goal of the policy is to stimulate the sector in light of the growing need for data centres. By 2030, India’s internet user base is predicted to reach 1.2 billion, necessitating the construction of data centre-powered cloud infrastructure. In addition, the need for data centres—which are essential to AI—has increased dramatically as a result of the technology’s quick adoption. To train and implement complicated AI models, data centres offer the processing power, fast networking, and massive storage required.

    With an investment of more than INR 10,000 Cr, the Centre notably announced the IndiaAI Mission, which aims to build AI compute infrastructure through a public-private partnership and create AI foundational models encompassing key Indian languages for important areas including governance, healthcare, and agriculture.

    Data Centres Alluring Foreign Investments

    Many international AI and large tech businesses are investing in the nation’s data centre market, encouraged by the increase in the use of AI. For example, OpenAI intends to establish a data centre in India and is seeking to collaborate with regional companies to build a facility with a minimum capacity of one gigawatt (GW).

    In Andhra Pradesh, Google also intends to invest $6 billion to construct a 1 GW data centre and related power infrastructure. The IndiaAI Mission has chosen three AI startups to create domestic AI models in India: Soket AI Labs, Gnani.ai, and Gan.ai. According to the Economic Survey for 2024–2025, the data centre market in India is anticipated to grow to a value of $11.6 billion by 2032.

    Quick
    Shots

    •Developers must meet goals on capacity expansion,
    power efficiency, and job creation to qualify.

    •Input tax credit on GST for capital assets like
    HVAC, AC, and electronic equipment also under consideration.

    •Draft policy suggests collaboration with CEA and
    power ministry to ensure reliable electricity supply.

    •India’s internet users projected to reach 1.2
    billion by 2030, driving demand for cloud and data centres.

  • Tata Technologies to Acquire ES-Tec Group in €75 Million Full Buyout Deal

    For a total cash consideration of 75 million euros (more than INR 775 crore), the multinational product engineering and digital services company Tata Technologies said on 13 September that it will purchase a 100% ownership in the Germany-based ES-Tec Group and its subsidiaries.

    According to a statement from Tata Technologies, the business has finalised a deal to purchase all of the equity interests of ES-Tech GmbH and its subsidiaries (collectively, the ES-Tec Group). It further stated that performance-based earn-outs will be included in the consideration, which will be disbursed over the following two years.

    The acquisition of ES-Tec Group, according to Warren Harris, MD & CEO of Tata Technologies, is a strategic move that strengthens Tata’s capacity to provide comprehensive product engineering solutions throughout the automotive value chain and demonstrates the company’s dedication to growing its global presence and gaining access to cutting-edge engineering capabilities.

    Origin and Operations of ES-Tec Group

    ES-Tec Group, a premium automotive engineering services provider with deep domain experience in Driver Assistance Systems (ADAS), Connected Driving, and Digital Engineering, was founded in 2006 and has its headquarters in Wolfsburg, Germany, according to the statement.

    It said that it has a talent pool of more than 300 highly qualified individuals and has established a solid reputation for providing its clients with sophisticated systems engineering solutions. Tata’s strategic objective to be the first partner choice for global OEMs managing the change towards intelligent, connected, and sustainable mobility is ideally aligned with the technical depth, customer centricity, and regional strength of ES-Tec, according to Harris.

    “Joining forces with Tata Technologies is a key step for the ES-Tec Group to extend the breadth and depth of capabilities and expand our international presence,” stated Marc Wille, MD and CEO of ES-Tec, in response to the developments. According to the announcement, the purchase is anticipated to be EPS profitable starting in the first full year of operation.

    What This Means for Global OEMs

    As it speeds up its growth in the European automotive engineering market, Tata Technologies’ acquisition of ES-Tec Group represents a turning point. With ES-Tec’s proficiency in digital engineering, linked technologies, and sophisticated driver assistance systems, Tata Technologies is better equipped to provide global OEMs with all-inclusive mobility solutions.

    Quick Shots

    •Deal announced on 13 September 2025; includes
    performance-based earn-outs over two years.

    •ES-Tec Group, founded in 2006, is a Germany-based
    premium automotive engineering services provider.

    •Expertise in ADAS (Driver Assistance Systems),
    Connected Driving, and Digital Engineering.

    •Talent pool of 300+ skilled engineers with strong
    reputation in systems engineering.

  • Government Reopens PLI Scheme Applications for White Goods Manufacturers

    According to an official announcement issued on 14 September, the government has extended the application period for the PLI plan for white goods (LED lights and air conditioners) by 30 days. From September 15 to October 14, the window will remain accessible.

    As per the Ministry of Commerce and Industry, the PLI (production-linked incentive) Scheme for White Goods is reopening its application window because the industry is eager to increase its investment under the programme. After the application window closes, no more applications will be accepted.

    Eligibility

    The ministry stated that, subject to specific requirements, both new applicants and current scheme beneficiaries who wish to increase their investment by moving to a higher target segment or their group companies applying under a different target segment would be eligible to apply in order to prevent any discrimination.

    The incentives will only be available to applicants for the balance of the programme’s duration. Only in the case of new applicants and beneficiaries choosing GP-2 (gestation period) in order to transition to a higher investment category would the applicant accepted in the proposed fourth round be eligible for PLI for a maximum of two years.

    Investment & Benefits

    Under the PLI initiative, 83 applicants with a total committed investment of INR 10,406 crore have been chosen as beneficiaries thus far. According to the statement, the investments would result in the production of air conditioner and LED light components along the whole value chain, including those that are currently not produced in sufficient quantities in India.

    The plan was approved by the Union Cabinet on April 7, 2021. This programme, which will cost INR 6,238 crore, will be executed over seven years, from FY 2021-22 to FY 2028-29.

    In response to Prime Minister Narendra Modi’s clear call for “Atmanirbhar Bharat”, which aims to put manufacturing at the forefront and highlight its importance in propelling India’s growth and job creation, the Union Cabinet approved the PLI Scheme for White Goods on April 7, 2021, for the production of parts and sub-assemblies of air conditioners (ACs) and LED lights. This scheme, which will cost INR 6,238 crore, will be executed over seven years, from FY 2021-22 to FY 2028-29.

    Quick Shots

    •Applies to LED lights and air conditioners
    manufacturers.

    •Both new applicants and existing beneficiaries can
    apply.

    •New applicants choosing GP-2 (gestation period) can
    avail benefits for up to 2 years.

    •So far, 83 beneficiaries committed INR 10,406 crore
    investments under the scheme.

  • Muthoot Finance Raises USD 600 million from International Bond Markets as External Commercial Borrowings

    Muthoot Finance, India’s largest gold loan NBFC, has raised USD 600 million from the international bond market through an External Commercial Borrowing (ECB) issuance. The funds will be deployed for lending activities, enabling Muthoot Finance to provide additional credit to customers across India. 

    The issuance attracted strong global participation, with 36% of the funds coming from investors in  Asia, 15% from EMEA, and 49% from the US. By investor type, 91% of the subscriptions came from fund and asset managers, 4% from private banks and banks, 4% from insurance companies, and the  remaining 1% from other investors. 

    The fundraise, under USD2billion Global Medium-Term Note (GMTN) Programme, has been priced at  6.375% with a door-to-door tenor of 4.5 years and a weighted average life of 4 years. The notes are rated BB+ by S&P and Ba1 by Moody’s. This marks the fifth drawdown under the GMTN programme since May 2024, bringing the total funds raised via this route to USD 2 billion. This is the first issuance of Muthoot Finance following its rating upgrades by global credit rating agencies S&P  Global in March 2025 and Moody’s in April 2025. 

    Mr. George Alexander Muthoot, Managing Director, Muthoot Finance, said: “The successful ECB  highlights our robust growth strategy, governance practices and marks another step in our expansion journey. This issuance is part of our ongoing efforts to diversify funding sources and further strengthen our international fundraising profile. With the continued support of our partners  and investors, we remain well-positioned to scale our lending activities in the gold loan sector,  expand our presence across India, and contribute meaningfully to the country’s growth story.” 

    The issuance was managed by Deutsche Bank and Standard Chartered as Joint Global Coordinators and Bookrunners. 

    About Muthoot Finance 

    Muthoot Finance Ltd, an “Upper Layer NBFC” (NBFC-UL), is the largest gold loan NBFC in India. It serves about 2,00,000 plus retail customers every day for Gold Loans and has about 1,00,000 Retail  Investor Base for its Non-Convertible Debentures. The equity shares of the Company have been listed on the National Stock Exchange of India Limited and BSE Limited since 2011. It has a branch network of  4800+ branches across 29 states and union territories in India. It employs over 28,000 persons in its operations. Its loan assets crossed Rs. 1,20,000 Crores on June 30, 2025. Its net-worth stood at Rs. 29,457 Crores and had a Capital Adequacy Ratio of 21.96% as against the RBI statutory requirement of 15% as on June 30, 2025. 

  • Elon Musk’s xAI Lays Off 500 Employees Amid Grok AI Training Cutbacks

    Recently, Elon Musk’s xAI caused a stir by reorganising its team in a big way, which is changing how it develops AI. About 500 workers were let go by the corporation on the evening of September 12, 2025, from the data annotation team, which was its largest division.

    These employees, referred to as generalist AI tutors, played a key role in training xAI’s chatbot Grok by contextualising and labelling the raw data required to educate the AI on how to comprehend the outside world. Approximately one-third of that division’s 1,500 members are represented by this transfer.

    The choice was made suddenly. Late Friday, employees received emails informing them of the layoffs. They were informed that they would receive payment until the conclusion of their contracts or, at the latest, November 30. However, they lost access to Slack and other company tools and communication platforms right away.

    Who Was Affected by the Layoffs?

    Notably, certain senior members of the human data management team, who had played a key role in Grok’s development, were among the layoffs. This crew typically made between $35 and $65 per hour. As part of a strategic move away from generalist positions, xAI is laying off employees in order to hire “specialist AI tutors” with domain-specific knowledge in fields including STEM, coding, finance, law, and even odd categories like Grok personality experts and “shitposters and doomscrollers.”

    This workforce of specialised tutors will grow tenfold, according to xAI’s ambitions. This reorganisation comes after Grok has faced persistent difficulties, such as contentious AI behaviour and unapproved system prompt changes.

    By emphasising higher-quality inputs from specialised tutors rather than a sizable staff of generalist annotators, xAI seeks to improve Grok’s dependability and transparency. xAI maintains that, in spite of the layoffs, it is not cutting back but rather prioritising its efforts with more qualified staff in order to advance Grok’s development.

    Why Is xAI Replacing Generalists with Specialists?

    A strategic shift is the main cause of this significant staff reduction. Employing specialised AI tutors with specialised knowledge is replacing generalist positions in xAI. Deep expertise in STEM subjects, coding, economics, law, and even more unusual sectors like Grok’s personality and behaviour analysis are anticipated of the new candidates. As part of this specialised expansion, the corporation is surprisingly also searching for “shitposters and doomscrollers”.

    This reorganisation takes place as Grok faces increasing difficulties. Earlier, the AI chatbot garnered media attention due to contentious results and problems with its training mechanism. According to reports, tests were administered to employees before the layoffs in order to assess their abilities and suitability for the new approach.

    These assessments addressed a wide range of topics, including Grok’s personality qualities, content safety procedures, and technical STEM expertise. Diego Pasini, a new team leader presently on leave from the Wharton School of Business, spearheaded the initiative, raising concerns about his leadership background inside the restructured teams. The overarching objective of xAI seems to be rather clear: increasing the quality and dependability of Grok’s AI by creating a smaller, more skilled staff.

    Quick Shots

    •Layoffs affect one-third of the division’s 1,500
    employees.

    •Employees were generalist AI tutors who trained
    Grok through data labeling.

    •Pay scale ranged between $35–$65 per hour for these
    roles.

    •Workers received sudden layoff emails; access to
    tools revoked immediately.

  • FMCG Companies Tell Tax Authorities they can’t Cut MRPs on Low-Value Packs After GST Reduction

    In an effort to lower the cost of everyday necessities for the average person, the Modi administration has redesigned the Goods and Services Tax (GST) system. The GST Council authorised a two-tier rate structure of 5 and 18%, which will go into effect on September 22 as part of this significant change, lowering the tax rates on the majority of necessities.

    The goal of the move was to reduce the price of commonplace goods like toothpaste, soap, and biscuits. According to a report by moneycontrol.com, consumer product producers have informed tax authorities that this will not directly result in a decrease in the cost of common small packs, such as INR 20 toothpaste sachets, INR 10 soap bars, or INR 5 biscuit packets.

    Speaking further on the development, Yashmit Gala, CEO, Galaji Spices stated, “The concern raised by FMCG players about not being able to reduce MRPs on low-value packs after the GST rate cut is very real. In categories like food staples and spices, the pricing of smaller SKUs is often already compressed to the last rupee to remain attractive in rural and value-driven markets. When you factor in packaging, logistics, and retailer margins, there is hardly any room left to adjust MRPs further without eroding viability. Consumers may expect a visible drop in prices, but in practice, it is operationally difficult to rework pack sizes or price points in such a short window. Instead, the benefits of GST reduction are more likely to reflect in supply chain efficiencies, improved trade margins, and promotional offers rather than a direct cut in printed MRPs of small packs.”

    Why Sudden Price Change Can’t be Implemented?

    Indian consumers are very accustomed to these typical price points, according to the media report. Customers may become confused and have their basic purchasing patterns disturbed if the price is lowered to odd figures like INR 9 or INR 18 rather than neat INR 10 or INR 20. Typically, packs of INR 5, 10, or 20 are impulsive purchases that are frequently made without much consideration.

    Unexpected price changes may cause confusion or reduce sales. By expanding the number of products in the pack while maintaining the same price, businesses are passing on the GST benefit rather than lowering prices. For instance, extra biscuits may now be included in a pack of biscuits priced at INR 20.

    What This Means for Consumers’ Daily Purchases?

    Practically speaking, consumers won’t notice significant drops in the sticker price of minor necessities. Instead, consumers will discover that some extra biscuits, soap, or toothpaste are now included in the same INR 5, 10, or 20 packets.

    This plan maintains known pricing practices while guaranteeing that customers profit from the tax savings. Given customer behaviour patterns and the logistical difficulties associated with shifting price points for mass-market goods, industry analysts think this strategy makes sense.

    A larger initiative to streamline India’s indirect tax structure and lower consumer costs included the reduction of GST rates and the removal of several tax bands. The increase in product supply at the same price point helps consumers obtain better value for their money, even though the benefit might not be immediately apparent in reduced MRPs.

    Quick
    Shots

    •Everyday items like toothpaste, soap, and biscuits
    expected to become cheaper.

    •Companies told tax authorities that MRPs on
    low-value packs (INR 5, 10, 20) cannot be reduced.

    •Price points like INR 5/10/20 are deeply ingrained
    in buying behavior; odd pricing may confuse consumers and hurt sales.

    •Instead of lowering MRPs, firms are increasing
    product quantity (e.g., more biscuits in the same INR 20 pack).

    •No major change in sticker prices; consumers get
    better value for money at the same familiar price points.

    •Maintaining price points is strategic for
    mass-market sales and avoids disruption of impulse buying patterns.