GDP Slowdown, Jio's AI PC, Coldplay

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It’s March 3. Today, we’re covering the GDP slowdown, Jio’s new AI PC, Coldplay’s India tour revenue, and more. We’ve also introduced a Who’s Hiring section at the end, featuring exciting job openings across functions and companies!

Policy & Governance

> Tuhin Kanta Pandey Appointed SEBI Chief
Finance Secretary Tuhin Kanta Pandey will replace Madhabi Puri Buch as SEBI chairperson for a three-year term. Pandey, who oversaw Air India's ₹18,000 crore sale to Tata, takes over as markets face volatility due to Foreign Institutional Investor outflows.

Meanwhile, a Mumbai special court has ordered the Anti-Corruption Bureau to register an FIR against outgoing SEBI chief Madhabi Puri Buch and five others over alleged stock market fraud and regulatory violations. (Economic Times, The Hindu)

> Delhi Bans Fuel for 15-Year-Old Vehicles
From March 31, vehicles older than 15 years won’t get fuel at Delhi petrol pumps, Environment Minister Manjinder Singh Sirsa announced. Petrol pumps will use tech to identify such vehicles. Additionally, high-rises, hotels, and commercial complexes must install anti-smog guns to combat pollution. (Hindustan Times)

Business

> Indian Stocks Face Worst Slump in 29 Years
The NSE Nifty 50 is set for its fifth straight monthly loss, its longest losing streak since 1996, wiping out nearly $1 trillion in investor wealth. Weak earnings, foreign outflows, and U.S. tariff uncertainty continue to weigh on markets. (Reuters)

> GDP Growth Slows to 6.2%
India's economy grew 6.2% in Q3 2024-25, down from 9.5% a year ago, as manufacturing and mining sectors struggled. Meanwhile, a World Bank report says India needs sustained 7.8% growth to achieve high-income status by 2047. (NDTV, Business Standard)

> BigBasket Plans IPO
Tata-backed grocery giant BigBasket aims to go public within 18-24 months, CEO Hari Menon said. The company expects to double its business by March 2026 and expand from 35 to 70 cities in the next year. (Reuters)

> US Court Rules Byju’s Committed Fraud
A US bankruptcy court found Byju’s, its director Riju Ravindran, and hedge fund Camshaft Capital guilty of a fraudulent scheme that diverted $533M from its US subsidiary, Byju’s Alpha. (Moneycontrol)

> Adani Eyes US Investments Despite Legal Hurdles
The Adani Group is reviving plans for major investments in the US, including nuclear power, utilities, and an East Coast port, despite criminal charges against founder Gautam Adani, sources say. A person close to Adani cited "big relief" within the group after President Trump recently halted enforcement of the Foreign Corrupt Practices Act, raising hopes that the cases against Adani may collapse. (Financial Times, BBC)

> Hero Electric Faces Insolvency Over ₹301 Crore Debt – Hero Electric, India's first electric scooter maker, has entered insolvency resolution under the Insolvency and Bankruptcy Code, with bids invited from potential investors. Once a market leader with 1 lakh unit sales in FY23, regulatory hurdles caused a sharp decline to just 11,500 units last year. (Business Standard)

Tech, Media & Telecom

> Jio’s AI PC
Jio Platforms is developing a cloud-based AI personal computer that can run on any consumer screen without dedicated hardware. The cloud PC will enable users to build and run compute-intensive AI applications without needing high-end local devices. (Economic Times)

> Google Builds Digital Agri-Stack for India – Google is developing a digital agriculture stack using satellite imagery to map farm boundaries and crop patterns. Inspired by Aadhaar, the model assigns unique IDs to farms and aims to improve subsidy payments, farm loans, and insurance. The project is expected to support policymakers and agritech firms with better data for decision-making. (Business Standard)

> India Now Exports Apple Components
In a supply chain shift, India has begun exporting electronic components for Apple products to China and Vietnam. Suppliers like Motherson Group, Jabil, Aequs, and Tata Electronics are producing key mechanics for MacBooks, iPhones, and other Apple products, and exporting them to assembly hubs. (Economic Times)

Energy & Environment

> India Builds World's Longest LPG Pipeline – State-run refiners will fully commission a 2,800 km LPG pipeline from Kandla to Gorakhpur by June. The $1.3 billion project will transport 8.3 million tons of LPG annually, cutting costs and reducing road accidents by lowering truck dependence. (Economic Times)

> Uttarakhand Avalanche Toll Rises to 8 – The search operation at the BRO project site in Chamoli has concluded after rescuers recovered four more bodies, bringing the death toll to eight. The avalanche struck on Friday, burying containers used as worker quarters. (Indian Express)

Health

> Free Cancer Vaccine for Girls in Maharashtra
The state will provide free cancer vaccines to girls aged 0-14, Health Minister Prakash Abitkar announced. Officials link rising cancer cases to lifestyle changes, with cases now seen in both rural and urban areas across all age groups, including children. (NDTV)

> 84% of IT Employees Have Fatty Liver Disease – A University of Hyderabad study found that 84% of IT employees suffer from Metabolic Dysfunction-Associated Fatty Liver Disease (MAFLD). Researchers link this to long sitting hours, work stress, poor sleep, and unhealthy diets. The study surveyed 345 IT workers in Hyderabad. (The Hindu)

Etcetera

> Coldplay x India = $$$
Coldplay’s India tour grossed $12.8 million from three Mumbai shows (164,000 tickets) and $15.7 million from two Ahmedabad shows (224,000 tickets). (Billboard)

> Yuki Bhambri Wins ATP 500 Doubles Title
Indian tennis player Yuki Bhambri, alongside Australia's Alexei Popyrin, staged a dramatic comeback to clinch the doubles title at the Dubai Tennis Championships (ATP 500). (ATP Tour)

> Mumbai Metro’s Aqua Line Makes Progress
In a key milestone, a trial run on Mumbai’s first fully underground metro corridor reached Cuffe Parade, its farthest point. The 33.5-km Aqua Line (Metro-3) is set for full commissioning by July 2025. (Times of India)

Worth a Look

Here are some stunning photos of Gulmarg in the snow to help with the Monday blues.

Who’s Hiring

> SpotDraft – AI-powered contract lifecycle management platform SpotDraft is hiring an associate counsel (1-2 years PQE). It’s also hiring across product, sales, and other roles, following its recent $54 million.

> Sarvam – Homegrown AI startup Sarvam is actively hiring across engineering, marketing, and sales roles.

> ServiceNow – Santa Clara-based SaaS platform ServiceNow is hiring for multiple product manager positions in Hyderabad.

> Bain – Consulting firm Bain & Co. is hiring associate consultants, a role for undergraduates and early-career professionals. 

Shout-out to Sonal for suggesting changes to our header color scheme.

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