Former Chief Economic Adviser Krishnamurthy V Subramanian outlines India's strategy to become a USD 55 trillion economy by 2047. The plan hinges on leveraging its young demographic in AI, dominating sunrise sectors like space and defence tech, attracting FDI, and achieving sustained 8% GDP growth.
NeoGeoInfo Technologies, a spatial intelligence solutions provider, has secured a Series A investment of approximately USD 20 million from Neev II Fund and Aavishkaar Capital. This funding will fuel the company's R&D, expand its international presence in the Middle East and Americas, and strengthen its team for complex projects.
A new report by FICCI, BCG, and IBA outlines that India's banking sector must grow significantly faster than nominal GDP to support a USD 30 trillion economy by 2047, requiring banking assets of USD 45 trillion. The report highlights the sector's current strength, challenges in digitisation, and the need to enhance resilience against fraud and cyber threats, proposing a 13-point agenda for stakeholders.
AG.AL has been crowned the Esports World Cup 2026 Club Champion, winning a USD 7 million prize from a record-breaking USD 75 million total pool. Their victory was secured after a dramatic win in Trackmania, capping a seven-week competition.
Amazon CEO Andy Jassy announced an additional USD 13 billion investment in India, bringing the company's total capital commitment to USD 48 billion by 2030. This significant investment will primarily focus on expanding AI and cloud infrastructure, supporting job creation, boosting e-commerce exports, and digitising small businesses, aligning with India's growing digital economy.
The India Junior International Grand Prix badminton tournament is set to begin in Pune, featuring 304 players from nine countries, including top junior talents like Dev Ruparelia. The event, organised by the Poona District Metropolitan Badminton Association, offers a total prize money of USD 15,000 and concludes on August 30.
The US Department of Homeland Security has proposed an additional fee of USD 103,265 for all H-1B visa cap-subject applications, including those eligible for the advanced degree exemption. This new fee aims to recover interagency costs for immigration programmes and would be paid in addition to existing fees. The proposal is open for public comments for 30 days and has drawn criticism from immigration advocates.
Indian Grandmaster R Praggnanandhaa has secured his spot in the finals of the Grand Chess Tour's last leg, defeating Germany's Vincent Keymer 19-9. He is set to compete against defending champion Fabiano Caruana of the USA for the title.
Indian squash players Veer Chotrani and Velavan Senthilkumar have successfully advanced to the quarterfinals of the Budapest Open, a significant PSA copper event in Hungary, showcasing strong performances against international competitors.
Indian javelin thrower Neeraj Chopra has qualified for the prestigious Diamond League Finals in Brussels on September 5, securing his spot despite competing in only two events due to a lower back injury. He also remains on track to qualify for the inaugural World Athletics Ultimate Championships in Budapest.
Indian-American golfer Akshay Bhatia has qualified for the season-ending TOUR Championship at East Lake Golf Club, joining an elite 30-man field. Having previously competed in the event, Bhatia aims to leverage his experience and consistent performance, including a strong showing at the BMW Championship, to challenge top contenders like Scottie Scheffler and Rory McIlroy for the FedExCup title and a share of the USD 40 million purse.
AI agent platform Runable has successfully raised $21 million in Series A funding, co-led by Susquehanna Venture Capital and Nexus Venture Partners. The company plans to use these funds to expand its growth capabilities, enhance measurement tools, and scale its Runable Academy, which supports small business owners in building and growing their ventures.
Indian Grandmaster R Praggnanandhaa has taken a commanding 9-3 lead over Germany's Vincent Keymer, putting him just six points away from qualifying for the finals of the prestigious US$450,000 Grand Chess Tour concluding event.
Indian Grandmasters Arjun Erigaisi and Nihal Sarin concluded their campaign at the Esports World Cup Chess tournament in the quarterfinals, securing top-eight finishes. Erigaisi was eliminated by Hikaru Nakamura in an Armageddon tiebreak, while Sarin lost to defending champion Magnus Carlsen. Their performance marks India's strongest showing in the event, with both players earning USD 75,000 each from the substantial prize pool.
Indian squash players Velavan Senthilkumar and Veer Chotrani have advanced to the semifinals of the Budapest Open, with Senthilkumar notably defeating top seed Eain Yow Ng.
Indian benchmark indices, Sensex and Nifty, closed lower on Wednesday, reversing early gains due to profit-taking and weakness in sectors like IT, FMCG, and consumer durables, despite support from lower crude oil prices.
The United States has sanctioned four India-based companies, including a customs broker and three other firms, for their involvement in importing petroleum and petrochemical products from Iran. This action is part of "Operation Economic Outcast," a broader US campaign to sever Iran's financial lifelines and prevent funding for its destabilising activities.
An Indian-origin chief financial officer of a US spinal implant company has been sentenced to a four-month jail term for his role in a scheme to bribe surgeons. Aditya Humad conspired to pay over USD 540,000 in sham consulting fees to surgeons to induce them to use SpineFrontier's products, leading to millions in revenue for the company and undermining healthcare safeguards.
RBI Deputy Governor Rohit Jain discussed the future of India's foreign exchange markets, highlighting the increasing role of local currencies in cross-border trade, the impact of technology, and existing challenges. He emphasised the need for market evolution to facilitate India's global engagement, absorb shocks, and serve all users efficiently. Jain also addressed concerns about unauthorised forex trading platforms and the importance of customer awareness.
India's Velavan Senthilkumar has advanced to the final of the Budapest Open squash tournament after defeating compatriot Veer Chotrani in the semi-finals. He will now compete against local favourite Balazs Farkas for the title, marking his 15th PSA tour final appearance.
Indian golfer Shubhankar Sharma finished tied 46th at the Nexo Championship in Aberdeen, Scotland, while Scotland's Scott Jamieson secured his second DP World Tour title with a final-round 67, overcoming a penalty to overnight leader Shaun Norris.
Microsoft has launched its fourth cloud region in India, located in Hyderabad, significantly expanding its hyperscale cloud presence. This move is part of a USD 20.5-billion investment in India's digital and AI infrastructure, aiming to support the country's rapid digital growth and meet increasing demand from major enterprises.
Indian benchmark indices, Sensex and Nifty, experienced declines in early trading, primarily due to selling pressure on blue-chip HDFC Bank and ongoing geopolitical uncertainties.
A joint report by Deloitte India and FICCI projects India's consumer economy to reach USD 1.9 trillion by 2030. This growth will be fuelled by rapid AI adoption, evolving consumer preferences, and new commerce models like e-commerce and quick commerce. India leads in AI adoption among top countries, with businesses leveraging it for engagement, innovation, and forecasting. The report also highlights the emergence of a new Indian consumer seeking convenience and transparency, and identifies key trends shaping FMCG, retail, and e-commerce sectors.
The CBI has arrested Lakhan Jaiprakash Jagwani, a key accused in a case involving the alleged defrauding of US nationals of USD 8.5 million through illegal call centres.
SpaceX and Tesla are jointly investing USD 16.8 billion to construct 'Terafab', an advanced AI semiconductor complex in Grimes County, Texas. This massive facility aims to address the global chip supply shortage, create thousands of jobs, and produce AI chips for Elon Musk's various ventures, including Tesla's robots and SpaceX's orbital data centres. The project is supported by a USD 30 million grant from the Texas government.
Indian benchmark indices, Sensex and Nifty, experienced a sharp decline at the close of trade, with the Sensex dropping 539 points and the Nifty falling below 24,100, primarily due to selling pressure in HDFC Bank and ongoing geopolitical uncertainties.
Indian benchmark equity indices, Sensex and Nifty, rebounded in early trade after two days of losses, driven by strong buying in blue-chip IT stocks and a rally in global markets.
Hollywood actor Brad Pitt believes artificial intelligence could be a boon for mid-budget filmmaking by making visual effects more accessible. However, he expresses caution regarding AI's use in replicating actors' performances and raises concerns about body scanning and digital likeness ownership. Pitt also shared his thoughts on AI-generated music and his upcoming film projects.
The US military has lost at least 45 MQ-9 Reaper drones during the conflict with Iran, representing a quarter of its fleet and a significant financial blow. These losses, some due to communication failures, raise questions as India recently signed an agreement to procure 31 of these drones.
Indian Grandmaster R Praggnanandhaa secured another draw against GM Levon Aronian of the United States in the sixth round of the Sinquefield Cup, keeping him in joint second place with 3.5 points.
Jio Platforms Ltd, the digital services arm of Reliance Industries, has secured Sebi's final observation to launch an initial public offering (IPO) aiming to raise approximately USD 4 billion (Rs 37,700 crore), potentially making it the largest IPO in India's history.
Gold futures saw a significant rise for the second consecutive day, driven by strong overseas market rallies, increased safe-haven demand due to geopolitical uncertainties, and a weaker US dollar. This surge coincided with the Reserve Bank of India's decision to maintain its repo rate, reflecting a focus on growth amidst global inflation concerns and easing oil prices.
Indian squash player Sanya Vats was defeated by Australia's Rachael Grinham in a closely contested five-game semifinal match at the Bendigo Open, a PSA Challenger event. Vats, the top seed, had previously advanced by beating England's Zoe Tanner in the quarterfinals.
Indian esports teams Orangutan and GodLike Esports have successfully qualified for the PUBG Mobile World Cup (PMWC) Grand Finals at the Esports World Cup 2026 in Paris. Both teams secured their spots by finishing in the top five of their respective group stages, and will now compete for a share of the USD 3 million prize pool from August 14 to 16.
A World Bank report highlights how Artificial Intelligence-powered weather forecasts have enabled small farmers in Telangana, India, to save up to USD 560 by adapting their farming practices to specific risks. The report, "The Promise of Artificial Intelligence," advocates for developing countries to rapidly adopt small, low-cost AI tools to enhance productivity, improve government services, and avoid missing out on the AI revolution.
The all-new, globally first YZF-R2 is priced from Rs 2,30,500 (ex-showroom, Delhi).
An NRI couple from Vadodara, Kinnari and Mihir Patel, who travelled to Nepal from New Zealand, have gone missing after devastating flash floods hit the region, prompting their family to appeal to the government for swift rescue action.
Indian golfers Diksha Dagar, Aditi Ashok, Avani Prashanth, and Pranavi Urs are set to compete in the USD 2 million PIF London Championship on the Ladies European Tour. Diksha seeks her third LET title, while Aditi aims for improved results. The tournament, hosted at Centurion Club, features a strong international field including world No. 6 Charley Hull.
Trade negotiations between the United States and Canada have collapsed, leading to the US imposing 50% tariffs on nearly $28 billion worth of Canadian imports, with Canada immediately vowing to retaliate dollar-for-dollar.
