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  • PM Modi to Inaugurate ₹1,870 Crore 6-Lane Ganga Bridge to Boost Bihar Connectivity

    New link to cut travel by over 100 km, boost trade and connectivity across Bihar

    Prime Minister Narendra Modi will inaugurate the 8.15-km Aunta–Simaria highway project on NH-31 in Bihar on Friday, 22 August 2025. The project includes a 1.86-km six-lane bridge across the Ganga, built at a cost of over ₹1,870 crore. It will provide direct connectivity between Mokama in Patna district and Begusarai.

    The bridge, India’s widest extradosed cable-stayed structure, stands 34 metres wide with segment lengths ranging from 57 to 115 metres and 70-metre cantilever arms, making it a landmark in highway engineering. Constructed parallel to the ageing two-lane Rajendra Setu, which is under repair and closed for heavy vehicles, the new bridge will ease long-standing traffic bottlenecks. Heavy vehicles will no longer be forced to take detours of more than 100 km, cutting travel time between north Bihar districts such as Begusarai, Supaul, Madhubani, Purnea and Araria, and south Bihar regions including Patna, Sheikhpura, Nawada and Lakhisarai.

    Officials said the project is expected to drive economic growth in adjoining areas, particularly in north Bihar, which depends on south Bihar and Jharkhand for raw materials. It will also open up new opportunities for farmers, especially makhana growers, by providing faster access to national and international markets. Industrial hubs like Barauni are also expected to benefit from smoother freight movement.

    Built with high-performance concrete incorporating silica fume to enhance durability, the bridge has been designed to withstand heavy traffic volumes for years. Construction also included a Railway Under Bridge using push-box technology, ensuring uninterrupted train movement during the project’s execution.

    The new link will further improve access to Simaria Dham, a prominent pilgrimage site and the birthplace of celebrated poet Ramdhari Singh Dinkar.

    Terming the inauguration as the new chapter in Bihar’s development journey, Bihar’s Road Construction Minister Nitin Navin said, “From laying the foundation in 2017 to inaugurating it, the Hon’ble Prime Minister has reaffirmed his unwavering commitment and enduring vision to strengthening Bihar’s connectivity and growth. This bridge will significantly reduce the distance between north and south Bihar and stand as a signature project of progress. It is a reminder of how far the state has travelled from the lantern age, when craters passed for roads. The Prime Minister envisions Bihar as the next growth engine, and every effort is being directed towards building a strong launch pad for that future.”

    The Prime Minister will also inaugurate the four-lane Bakhtiyarpur to Mokama section of NH-31, worth around Rs 1,900 crore, which will ease congestion, reduce travel time, and enhance passenger and freight movement. Further, improvement to the two-lane with paved shoulders of Bikramganj–Dawath–Nawanagar–Dumraon section of NH-120 in Bihar will improve connectivity in rural areas, providing new economic opportunities for the local population.

  • Chennai IT Employees’ Union Protests Against Mass Layoffs at TCS

    According to a New Indian Express story, the Union of IT & ITES Employees (UNITE) protested Tata Consultancy Services (TCS) on 19 August in a number of Indian cities, claiming that almost 30,000 workers may be impacted by current layoffs. TCS, however, has denied the allegation, stating that the cut will only affect around 12,000 jobs, or 2% of its global workforce.

    The Centre of Indian Trade Unions (CITU) provided backing for the protests, according to the New Indian Express article. UNITE officials cautioned that the true number of layoffs may be more than reported and called for the government to step in and force TCS to reverse its decision.

    Skilled Employees Also Impacted, Say Workers

    UNITE Joint Secretary Chandra Shekar Azad told The Hindu Business Line that experience has been the only thing that those impacted have in common thus far. He went on to say that teams were becoming uncertain, as even workers with demonstrated abilities and leadership credentials were being let go.

    Alangunambi Welkin, the general secretary of UNITE, told the publication that if authorities do not intervene, the union, which has roughly 300 members, including 50–60 from TCS, intends to expand its fight internationally by working with international trade groups.

    Concerns regarding deficiencies at TCS’s Siruseri campus were also voiced by a few union members. They said that workers were forced to rely on other equipment since they had restricted access to the required upskilling tools on their own devices. These assertions have not been confirmed.

    TCS Denies Large-Scale Job Cuts

    TCS called the union’s claims “inaccurate and misleading” in a statement to Business Line. According to the corporation, changes to the workforce would only affect 2% of its workers. TCS is one of the biggest employers in the private sector in India, employing about 600,000 people worldwide. With an emphasis on cloud, artificial intelligence, and digital transformation, TCS stated that the reorganisation aims to create a “future-ready organisation”.

    Labour Authorities Step In Under Industrial Disputes Act

    The business also stated that impacted workers will receive transition assistance and severance pay. According to a previous ET story, executives from Tata Consultancy Services (TCS) informed Karnataka’s labour regulators that they are unsure of the exact number of workers who will be let go in various locations. The business will respond to an IT union’s complaint alleging infringement of labour laws.

    HR executives Mahesh GK, assistant manager, and Boban Varghese Thomas, general manager of HR, represented TCS at the meeting earlier this month. They met with representatives of the Karnataka State IT/ITeS Employees Union (KITU), which had brought up the complaint, as well as officials from the Karnataka labour department.

    A list of grievances from impacted employees was requested by labour authorities from the union. It is necessary to address the impacted employees’ basic concerns. G Manjunath, Additional Labour Commissioner (Industrial Relations), presided over the conciliation. In accordance with the 1947 Industrial Disputes Act, the matter is being examined.

    Quick
    Shots

    •Union of IT & ITES Employees
    (UNITE) staged protests in Chennai and other cities on 19 August.

    •Nearly 30,000 jobs at TCS may be at
    risk.

    •TCS denies large-scale layoffs; says
    only 12,000 jobs (~2% of workforce) will be impacted.

    •TCS calls union’s claims “inaccurate
    and misleading.”

  • 96% of Indian Retailers Embrace AI, Outpacing Global Peers: Honeywell Report

    96% of large retailers in India have already developed AI capabilities and solutions, according to Honeywell’s Global Retailer Technology Survey

    Honeywell (Nasdaq: HON) released its Global Retailer Technology Survey, which found that India’s major retailers are fully invested in artificial intelligence (AI) and its potential to make operations more efficient. Almost all (96%) in-country retailers said they are using AI, with plans to either expand in the near future or maintain current usage of the technology, as compared to 85% globally. 

    The survey also highlights how Indian retailers are using AI, from smarter inventory and demand forecasting to enhanced customer service and optimized last-mile delivery.

    • Retailers in India said demand planning (50%), customer experience (41%) and logistics and distribution centers (41%) were the business areas that stand to benefit most from AI and digitization. 
    • Survey respondents in India attributed more value to AI for demand planning and supply chain logistics than other regions did (+14% and +7%, respectively, from the global average). 
    • By contrast, fewer retailers in India than in other regions said AI had the potential to improve procurement activities (20% in India vs. 28% globally).      

    “Retailers are looking to AI to better understand what their customers want and how to best meet their needs in a constantly changing market,” said Ritwij Kulkarni, General Manager, Industrial Automation, Honeywell India. “In a country as large and diverse as India, AI has tremendous potential to create hyper-personalized customer experiences and optimize the flow of retail goods throughout the supply chain so they reach shoppers in the most efficient way.” 

    Other advanced technologies are making a significant impact on the retail landscape in India, with a majority of retailers already invested in machine and camera vision (CV) technologies (68%) and optical character recognition (OCR) (64%). While less common overall, augmented reality (AR) is also gaining traction, in use by 39% of surveyed Indian retailers.

    OCR can significantly speed up retail workflows when replenishing the shelf inventory or identifying mislabeled prices by quickly reading labels and other product information. CV can help mitigate the growing challenge with retail shrinkage, while AR can help shoppers or employees visualize a product in a space. 

    Data Capture Technologies in Use by Retail Companies: India vs. Global
    Data Capture Technologies in Use by Retail Companies: India vs. Global

    While the results showed overall continued momentum for AI, Indian retailers expressed some concerns about its adoption. 

    • Nearly half of respondents (48%) anticipated that the greatest challenge for future AI implementation in the industry would be customer acceptance, compared with 40% globally—suggesting there is an opportunity for Indian retailers to demonstrate to customers the benefits AI can bring. 
    • Other top challenges for in-country retailers in implementing AI were regulatory compliance (43%) and complexity of AI models (38%). 

    Honeywell’s Global Retailer Technology Survey focused on large retailers throughout the U.S., Europe, Latin America, India and the Middle East and how they are using advanced technologies throughout their operations, including AI, automation, augmented reality, machine vision and sensors. Indian retailers participating in the survey had a minimum annual revenue of $10 million USD.

    Methodology

    Honeywell commissioned Wakefield Research to conduct the Global Honeywell Retailer Technology Survey in May 2025. This Omnibus survey polled 450 executives at large retailers about their use of AI and other technologies via an email invitation and online survey. The following markets are represented in survey data: the United States, United Kingdom, Germany, Brazil, India, United Arab Emirates and the Kingdom of Saudi Arabia. The threshold of “large” retailer varied by country, ranging from a minimum annual revenue of $100 million in the U.S. to minimum annual revenue of $5 million in the UAE and KSA.

    About Honeywell

    Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends – automation, the future of aviation and energy transition – underpinned by our Honeywell Accelerator operating system and Honeywell Forge IoT platform. As a trusted partner, we help organizations solve the world’s toughest, most complex challenges, providing actionable solutions and innovations through our Aerospace Technologies, Industrial Automation, Building Automation and Energy and Sustainability Solutions business segments that help make the world smarter and safer, as well as more secure and sustainable.

  • Edge AI Computing Startup Edgehax™ Raises INR 1.39 Crores in Seed Round Led by Inflection Point Ventures

    • The company builds a modular Edge AI hardware platform – integrating compute, network, and storage into a single board.
    • With fresh backing, Edgehax aims to accelerate adoption among startups, OEMs, and enterprises experimenting with hardware-driven innovation by scaling up production, advancing new product development, and expanding market access.
    • This hardware is already being used in areas such as industrial gateways, humanoid robots, autonomous vehicles, drones, Indian defence applications across NavIC-based tracking systems, 4G/5G connectivity, and the company’s in-house DvarOS™ built specially to address Industrial Edge Gateways.
    • So far, Inflection Point Ventures has invested over INR 800 Cr across 220+ businesses.

    Edgehax, an Edge AI hardware platform, has raised INR 1.39 crore in a seed round led by Inflection Point Ventures. The funds will be used to boost manufacturing, accelerate product development, and scale into international markets across Singapore, the US and Europe. Edgehax is already used by 150+ startups, OEMs, and large enterprises to rapidly prototype, develop, and scale hardware-first products, all on a single integrated board with compute, connectivity, and storage. 

    Edgehax has recently won the NXP Silicon Seeds Startup Program 2025 to build an exclusive low-cost Edge AI compute module based on NXP chips for global automotive and consumer IoT applications. The product launch is planned in Singapore alongside NXP by December this year. The Company is also backed by Software Technology Parks of India (STPI) and has secured the MeitY Bhashini Startup Velocity 1.0 program award to build hardware that enables mass-market adoption of the Digital India Bhashini Voice AI platform.

    Prabhu Stavarmath, CEO and Co-founder of Edgehax, added, “At Edgehax, our goal is to become a global pioneer in Edge AI Gateways and Single Board Computers by delivering fully integrated hardware platforms with open-source firmware and scalable cloud software – enabling rapid product development for startups, enterprises, and OEMs worldwide. By 2029, Edgehax aims to empower over 100 million developers using its boards and tools across APAC, the US, and Europe. The bigger goal is straightforward: become the go-to design and manufacturing partner for enterprises and OEMs that need hardware which is ready to use and easy to customise. Step by step, through consistent product development and local manufacturing, Edgehax is working to showcase its Make in India capabilities to a global stakeholders ecosystem.”

    Edgehax is India’s answer to Raspberry Pi — a globally competitive, homegrown edge AI computing platform for developers, tinkerers, hobbyists and the student community globally.

    Edgehax has enabled 100,000+ students and faculty development programs across 30+ universities and IITs using Edgehax dev kits. It also provides a hardware distribution platform for fabless OEMs to mass market their products and drive rapid adoption through its developer community across top-tier research institutions in India. The Edgehax community has been at the centre of shaping its products. Developers, students, and researchers using its kits are not just early adopters but also key drivers of awareness, which has helped the brand grow mostly through word-of-mouth. This bottom-up approach is now creating a hardware ecosystem where new products can be tested and scaled faster.

    Vikram Ramasubramanian, Partner, Inflection Point Ventures says “Despite India being one of the largest markets for tech and AI, it lacks a domestic hardware prototyping platform. Startups, OEMs, and enterprises have to rely on foreign-made boards and compute modules. Our investment in Edgehax comes at a pivotal moment in time where the government also underlines India’s need for domestically designed and manufactured flexible hardware that is accessible, reliable and affordable. Edgehax is at the forefront of this, with not only product development but also community-led ecosystem that helps scale quickly and reliably.’’

    Prabhu Stavarmath, Co-founder and CEO of Edgehax, with more than 15 years of experience in IoT hardware, product development, and enterprise sales, has previously built two startups that served over 100,000 customers and generated revenues of over half a million dollars, besides helping scale IoT and cloud solutions for global clients.

    Savitri Patil, COO and Co-founder of Edgehax, has extensive experience in managing operations, supply chain, logistics, and team workflows. With a background in electronics and roles spanning manufacturing and IoT prototyping, she now drives Edgehax’s mission to streamline hardware development for innovators across India.

    On the product side, Edgehax has managed to design and prototype its boards entirely in India, a step that adds weight to the country’s push for electronics independence. At present, more than 5,000 edge gateway boards are already in production, and about 10,000 compute modules meant for consumer appliances are expected to roll out by December 2025.

    The global edge hardware market is expected to more than double by 2030, touching nearly USD 59 billion from around USD 26 billion in 2025. The rise of connected devices from smartphones and industrial machines to everyday IoT products is driving this demand for real-time data processing closer to where it is generated.

    About Edgehax

    Founded in 2025 by Prabhu Stavarmath and Savitri Patil, Edgehax is India’s first full-stack Edge AI hardware platform that combines compute, connectivity, and storage on a single board. Built to address the challenges of local prototyping and scaling, it helps startups, OEMs, and enterprises bring hardware products to market faster without relying on overseas supply chains. With locally manufactured hardware, assured long-term supply, and on-ground technical support, Edgehax delivers a plug-and-play experience that simplifies hardware development from idea to production. 

    About Inflection Point Ventures and Physis Capital

    Inflection Point Ventures (IPV) is an angel investing platform with over 24,000+ CXOs, HNIs, and Professionals to together invest in startups. The firm supports new-age entrepreneurs by providing them with monetary & experiential capital and connecting them with a diverse group of investors. IPV has launched a $50 Mn CAT 2 VC fund, Physis Capital, to invest in Pre-Series A to Series B growth-stage start-ups. The fund has already deployed capital in six startups so far, with a few deals in advanced stages of pipeline.

  • Mitra Raises INR 14 Crore in Bridge Round Ahead of Series A, Expands Production to Meet Rising Demand

    Mitra, one of India’s fastest-growing FMCG startups, has raised INR 14 crore in a bridge round of equity funding to scale its operations, strengthen its product portfolio, and expand its distribution network. The round was led by Bestvantage Investments, a boutique investment advisory firm connecting high-growth startups with strategic capital. The round also saw participation from existing investors, Mr. Surya (Dubai-based family office), and other marquee investors. 

    The funds will primarily be deployed towards expansion of Mitra’s current facilities, the launch of a new 3000-ton refined flour (maida) plant in October, entry into millet-based and lifestyle product categories (gluten-free, sugar-free, diabetic-friendly flours, and organic spices), as well as strengthening its distribution network across India and new markets in the GCC. Mitra also plans to integrate smart technology to enhance manufacturing and operational efficiency.

    Speaking on the funding, Abhishek Kaushik, Founder & CEO of Mitra, said: “This funding is a key pillar in Mitra’s journey as we prepare for our next phase of growth. It will enable us to expand production capacity, launch new health-oriented product lines, and strengthen our presence across India and international markets. Our vision is to make Mitra one of the top 5 FMCG companies in India within the next 2–3 years, with a clear roadmap towards an IPO.”

    Raman Sharma, Founder & CEO of Bestvantage Investments, said: “We are delighted to back Mitra in this bridge round. The FMCG sector in India is poised for significant disruption, and Mitra’s ability to blend traditional food preparation methods with modern quality standards makes it a brand with immense potential. Their growth trajectory speaks volumes of the scalability and demand for their products.”

    Founded in 2023 with a mission to make health affordable for all, Mitra has disrupted India’s FMCG sector with its unique stone-grinding methodology (‘Chakki Fresh’), which preserves the original essence, freshness, and nutritional value of products. By catering to Tier 2 and Tier 3 markets with premium-quality products at mid-range pricing, the brand has built strong customer loyalty, boasting 92% repeat purchases.

    The company has shown exponential growth, scaling revenues from INR 11 crore in its first year to INR 40 crore in the second year, and is on track to cross ₹120+ crore this financial year. With 500+ distributors and 40,000+ retail touchpoints across NCR, Mitra currently holds the No. 2 market position after ITC in its operating segment. The upcoming flour plant alone is expected to increase Mitra’s monthly recurring revenue from INR 12 crore to at least INR 17 crore by November 2025, with the company already EBITDA positive.

    Mitra is gearing up for a Series A round in April 2026 at a targeted valuation of INR 500 crore, while continuing to expand its product categories, manufacturing footprint, and geographical presence.

    The company has also been recognized for its achievements, with its founder recently awarded Best Emerging Brand and Leader of the Year by Delhi Chief Minister Smt. Rekha Gupta.

    About Mitra

    Founded in 2023, Mitra is a fast-growing FMCG brand with the mission of making “health affordable for all.” The company manufactures and markets a range of health-focused food products using its unique ‘Chakki Fresh’ stone-grinding method, ensuring freshness and nutrition retention. With strong distribution across 40,000+ retail outlets and exports in the pipeline, Mitra is on a journey to become one of the most loved FMCG brands in India.

  • Daily Indian Funding Roundup & Key News – 20 August 2025: Mithila Foods Raises ₹1.5Cr, Motilal Oswal Ups Paytm Stake & More

    India’s startup ecosystem continues to witness strong investor interest, with fresh seed rounds announced across FMCG and biotech. Alongside funding activity, the broader business landscape saw major developments from a mutual fund deepening its stake in Paytm, to fintech lender Kissht filing for an INR 1,000 crore IPO, and Karnataka passing a landmark welfare bill for gig workers. Here’s your quick roundup of the top funding deals and key business news in India today.

    Daily Indian Funding Roundup – 20 August 2025

    Company Amount Round / Type Lead investor(s)
    Mithila Foods ₹1.5 crore Seed AJVC (Aviral Bhatnagar)
    PeelON $1 million Seed growX Ventures

    Mithila Foods raises INR 1.5 crore seed from AJVC

    FMCG startup Mithila Foods, based in Dumka, Jharkhand, has secured INR 1.5 crore in a seed round from AJVC, the investment firm founded by Aviral Bhatnagar. The company plans to use the funds to strengthen distribution, streamline its supply chain, and scale its Bihar-origin product portfolio, which includes sattu and makhana.

    PeelON secures $1 million seed led by growX Ventures

    Bio-tech startup PeelON, which develops compostable packaging solutions, has raised $1 million in seed funding. The round was led by growX Ventures, with participation from Boston Venture Group and Clean Energy Venture Group. Headquartered in Visakhapatnam, the company will channel the funds towards R&D, production, and expanding its commercial presence in both India and the United States.

    Key Business News for 20 August 2025

    Motilal Oswal Mutual Fund Raises Stake in Paytm Parent to 5.15%

    Motilal Oswal Mutual Fund has increased its holding in One97 Communications Ltd (the parent company of Paytm), acquiring an additional 26.31 lakh shares across more than 20 of its schemes, including the Nifty Midcap Fund and ELSS Tax Saver Fund. This raised its stake by 0.41 percentage points, pushing the total to 5.15 %. Following the disclosure, Paytm’s share price climbed to a 52-week high of INR 1,238, reflecting renewed investor confidence amid the company’s recent Q1 FY26 turnaround.

    Kissht Files DRHP to Raise INR 1,000 Crore via Fresh Issue

    Fintech lender Kissht (operated by OnEMI Technology Solutions) has submitted its DRHP (Draft Red Herring Prospectus) to SEBI for an initial public offer, aiming to raise INR 1,000 crore through a fresh issue. Existing investors—including Vertex Ventures, Ventureast, Endiya Partners, AION Advisory, and Ammar Sdn Bhd—are planning to sell approximately 8.8 million shares via an offer-for-sale.

    Of the proceeds, INR 750 crore will be infused into its NBFC subsidiary Si Creva Capital, with the remaining INR 250 crore earmarked for general corporate purposes. The company is also exploring a pre-IPO placement of up to ₹200 crore, which could reduce the size of the public issue.

    Karnataka Assembly Passes Platform-Based Gig Workers Welfare Bill

    The Karnataka Legislative Assembly has passed the Platform-Based Gig Workers (Social Security and Welfare) Bill, 2025, replacing an earlier ordinance. The legislation mandates that gig-aggregator platforms must provide social security, occupational health, and safety benefits to gig workers.

    Key provisions include:

    • Establishment of a Gig Workers Welfare Board to manage a Gig Workers Welfare Fund.
    • Aggregators may collect a 1% to 5% welfare fee from customers per transaction to finance the fund.
    • Mandatory registration of both gig workers and aggregators with the Board.
    • A structured dispute resolution mechanism and safeguards to prevent unjust terminations.
      The bill is viewed as a significant stride toward regulating India’s rapidly expanding gig economy, projected to reach 23.5 million workers by 2029-30.

    Daily Indian Funding Roundup and Key News: 19 August 2025
    Here’s the latest Indian funding and business news on 19 August 2025, including Weaver Services, R for Rabbit, Cedar-IBSi Fund, and Captain Fresh IPO.
    StartupTalkyStartupTalky News

  • Karnataka Assembly Passes Gig Workers’ Welfare Bill to Boost Social Security for Platform Employees

    According to reports, the Karnataka legislative assembly passed a bill that will open the door for the establishment of a gig worker welfare fund. The Karnataka Platform-Based Gig Workers (Social Security and Welfare) Bill, 2025, seeks to create a welfare board and safeguard workers’ rights, according to news agency PTI.

    Additionally, it imposes new duties on aggregators concerning the safety, occupational health, and social security of their employees. According to reports, state labour minister Santosh Lad stated during his speech in the parliament that the bill suggests a welfare cost of 1% to 5% for every transaction, which will be subtracted from the worker’s compensation. The cost will fluctuate depending on the type of aggregator.

    Welfare Fund and Aggregator Contributions

    These revenues will be combined to create the welfare fund, which will also receive gifts, donations, transfers, and grants-in-aid from the state government. A welfare fee of 1% to 5% of a gig worker’s compensation will be collected, Lad added. This cannot be applied universally because e-commerce and the operations of Swiggy and Zomato are not the same.

    They are various business types. Therefore, 1-5% will not be applied uniformly to all. “While establishing the regulations, we shall debate and make a decision,” Lad added further. According to the report, the bill will also require gig workers to register with the planned welfare board and provide for openness in dispute settlement procedures.

    Rights and Protections for Gig Workers

    The Hindu claims that the board will also decide on worker safety measures, health card issuance, and other social security matters. Furthermore, the bill allegedly places the responsibility for offering gig workers stable incomes and decent working conditions on app-based platforms. According to PTI, Lad cited the Bill and stated that a gig worker cannot be fired without giving 14 days’ notice and a written justification.

    Background and Ordinance History

    This comes four months after intentions to create a gig worker welfare board were revealed by the Karnataka chief minister’s office. The Karnataka Platform-Based Gig Workers (Social Security and Welfare) Ordinance, 2025, was subsequently issued by the state government in May.

    Since the issue was deemed “urgent” since neither chamber of the state legislature was in session, Governor Thaawarchand Gehlot introduced and approved the ordinance. It is important to remember that the state administration published a draft of the same measure last year, which included provisions for income and social security as well as other advantages.

    Quick
    Shots

    •Funded by a 1–5% welfare fee on each
    transaction.

    •Contributions vary by business type
    (e-commerce, food delivery, etc.).

    •Additional funding through donations,
    transfers, and state govt grants.

    •Ensure worker safety, occupational
    health, and social security.

  • Apple to Boost iPhone 17 Manufacturing in India to Strengthen Local Production

    According to reports, Cupertino-based tech giant Apple intends to increase manufacturing of its iPhone 17 at all five of its Indian factories, including the two that were just added.

    According to a Bloomberg story, the business is expanding its iPhone production in India in an effort to reduce its reliance on China and diversify its manufacturing supply chain.

    All four of the iPhone 17 variants would be manufactured in India, according to the Bloomberg report, with production being expanded at Foxconn’s locations close to the Bengaluru airport as well as Tata Electronics’ facilities in Hosur and Tamil Nadu.

    Why Apple is Reducing Reliance on China?

    Apple made the decision to outsource the majority of iPhone production from China in late April of this year. Additionally, the corporation made the decision to move all iPhone assembly from the US to India by 2026. China’s hostility against the US earlier this year, when it raised its tariffs on US goods, prompted the decision.

    China reacted with a 125% tax on the US during the trade war after the US imposed 145% tariffs on China. Following this, Apple began removing China from its supply chain for iPhone manufacturing in order to safeguard itself from geopolitical unrest. Last year, Apple began producing the iPhone 15 in India, producing between 30 and 40 million handsets a year. Up until this year, Tata Electronics, Foxconn, and Pegatron, Apple’s contract manufacturers, accounted for 25% of the company’s manufacturing in India.

    Challenges in Shifting Production

    Although the company has worked relentlessly to move its manufacturing out of China, they have not had an easy time of it. When Apple decided to move its manufacturing base outside of China, it encountered challenges.

    For example, in April, Chinese officials prohibited one of Apple’s suppliers from exporting equipment to India, which was necessary for testing the iPhone 17’s trial manufacturing there. A few months later, however, Foxconn brought back 300 Chinese engineers who were thought to be crucial to the new iPhone 17’s testing in India.

    Apple’s Growth and Performance in India

    During the April-June earnings call, Apple CEO Tim Cook stated that the company has had double-digit growth in India across its sales of iPhones, Macs, and services, in addition to increasing its manufacturing in the area.

    In addition, it intends to open four new locations later this year in Bengaluru, Mumbai, Pune, and Noida in order to increase its retail presence in the area.

    The iPhone 16 family was a major factor in Apple’s 13.4% revenue increase from worldwide iPhone sales to $44.6 billion in the June quarter. In addition, the business’s total sales for the quarter increased by 10% to $94 billion.

    Quick
    Shots

    •Manufacturing across all five Indian
    plants, including new units.

    •Foxconn’s Bengaluru hub & Tata
    Electronics’ Hosur, Tamil Nadu plants to lead production.

    •Decision driven by US-China trade war
    tariffs (145% by US, 125% by China).

    •Apple reducing dependence on China to
    secure supply chain.

  • AT&T Orders Manager Relocations Amid Restructuring, Warns of Layoffs

    AT&T CEO John Stankey is enforcing a market-based mentality by combining help-desk centres and requiring managers to relocate to six hubs or risk losing their jobs. As part of a massive workplace reorganisation, AT&T is forcing more of its managers to transfer or face severance.

    CEO John Stankey’s Push for a Market-Based Culture

    This decision highlights the telecom giant’s strict culture reset under CEO John Stankey. The corporation is reducing 22 internal help-desk locations to just six regional hubs, according to Business Insider. These units’ managers have been given two weeks to make a decision about leaving the company with severance pay or moving.

    On the other hand, unionised employees will be permitted to stay in their current locations, although in various customer service support positions. The modifications, which mostly impact workers who support other AT&T employees, are part of a larger approach Stankey has been following since 2023: centralising operations, reducing legacy expenses, and putting efficiency first.

    A representative for the corporation acknowledged that fewer stores are being opened, but they did not provide a specific number and insisted that the action had nothing to do with Stankey’s recent email to employees.

    AT&T Moving Towards Market Based Culture

    In a direct internal memo earlier this month, Stankey informed staff that AT&T was implementing a “market-based culture” that necessitated greater in-office cooperation. He claimed that tenure-based security and workplace loyalty were outmoded ideas in the missive, which Business Insider was the first to report.

    Six Hub Cities: Where Managers Must Relocate

    An internal poll that revealed a decline in employee engagement prompted the note. Managers told Business Insider they think the memo sped up the timeline, despite AT&T’s insistence that the help-desk consolidation is distinct. Things that used to take years are now being completed in a matter of weeks. The plan requires managers to move to one of six cities: Miami, Orlando, Richardson, Texas; Atlanta; Mesa, Arizona; or Tulsa, Oklahoma.

    Impact on Employees: Relocation vs Severance

    Workers claim they feel torn between leaving their jobs and uprooting households. A number of employees also revealed that department heads had been assigned the responsibility of creating “action plans” to resolve issues brought up in the most recent employee survey.

    Layoffs and Workforce Reduction at AT&T

    The most recent relocation wave is a component of a larger trend. Around 60,000 managers will be redistributed to just nine metro areas, down from 300, according to AT&T’s 2023 announcement. Stankey informed Bloomberg at the time that choices on the relocation of roughly 9,000 employees will be made.

    According to internal data, about half of the 318 managers who were told to relocate in one division under Chief Technology Officer Jeremy Legg declined and quit. As a result, the headcount of the entire company has been declining. AT&T started 2025 with about 141,000 employees, compared to over 160,000 in the beginning of 2023. In contrast, rivals T-Mobile and Verizon reported about 70,000 and 99,000 workers, respectively.

    AI Integration: $3 Billion Cost-Cutting Plan

    Another key component of the company’s strategy is AI. Stankey stated during a January earnings call that AT&T anticipates integrating AI into operations to save $3 billion in operating expenses. AT&T Technology Services is now feeding trouble tickets into its generative AI systems, which can already suggest improvements and even create the code to put them into action, Legg stated at the KeyBanc conference. Although there is still human control, automation is growing quickly.

    Quick
    Shots

    •Managers told to relocate to six hubs
    or accept severance packages.

    •Push for a “market-based culture”
    with centralised operations and reduced costs, CEO John Stankey’s Strategy.

    •Internal support centres cut from 22
    to 6 regional hubs.

    •Two-week deadline to decide; many
    facing relocation vs. job loss dilemma.

  • Kissht Files IPO for ₹1,000 CR Fresh Shares: High Potential or a Risky Bet for You?

    Kissht is a fintech company; if you have never heard of it before, it gives digital loans via its app to salaried and self-employed members. The company runs under Onemi Technology Solutions and is financially backed by Temasek Holdings (a prominent investment fund owned by Singapore’s government). Kissht wants to raise funds through an IPO (Initial Public Offering). It filed papers for about ₹1,000 crore worth of new shares and 88.8 lakh shares via Offer for Sale (OFS). The company saw an 18.6% (March 2025) dip in its profits. Should that mean you shouldn’t invest? Or does the company have any strategic plans to up their revenue game? Know more.

    IPO Size and Details

    The company aims to raise ₹1,000 crore through new shares, with the funds going directly to the company.

    Additionally, about 88.8 lakh shares are being offered for sale (OFS). This indicates that early investors want to sell their shares and make a partial exit.

    Who Owns Kissht Right Now?

    Promoters (53.67%)

    • 53.67% rests in the hands of promoters, two prime names are Ranvir Singh & Krishnan Vishwanathan, holding about 30.89% combined.
    • Other classified promoters hold the remaining 22.78.

    Investors (46.33%)

    Some popular investors who will sell their shares include

    • Temasek (via Vertex)
    • Sistema PJSFC (Russia)
    • Endiya Trust
    • VenturEast
    • AION Advisory Services

    Any Pre-IPO Placement?

    Notably, the company plans to raise about ₹200 crore through a “pre-IPO placement.” If you’re unfamiliar, it means the company will sell some shares to private investors before going public. If that happens, the ₹1,000 crore will be reduced by that amount.

    Where Will Kissht Invest This Money?

    About ₹750 crore, the company will invest in its lending subsidiary, Si Creva Capital Services. It’s a middle-layer NBFC that offers unsecured personal loans to salaried and self-employed individuals.

    The purpose of this investment is to increase Si Creva’s capital, enabling more loans and expansion. The remaining 750 will go into general corporate purposes, such as office expansions, salaries, maintenance, etc.

    Which Merchant Bankers Are Handling the IPO?

    • JM Financial
    • HSBC Securities & Capital Markets (India)
    • Nuvama Wealth Management
    • SBI Capital Markets
    • Centrum Capital

    Kissht’s Financial Outlook in the Recent Past

    • The company was founded in 2016 and holds a loanbook of 19 lakh active customers.
    • Currently, the company’s AUM (Assets Under Management) is ₹4,086.6 crore as of March 2025, up from ₹2,604.2 crore in FY24.
    • Its loan disbursements declined by 46.8% to ₹9,857.8 crore in March 2025. Profit decreased by 18.6% to ₹160.6 crore in March 2025.
    • Additionally, its revenue from operations dropped 20.1% to ₹1,337.5 crore.

    Why an Investment Caution Might Be Wise?

    The drop in profits (18% compared to FY24), increased competition in the fintech space, and macro risks aren’t that promising for secure-type investors. However, Kissht’s scalability, tech edge, and institutional backing can appeal to risk-tolerant investors.