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It’s February 26. Today, we’re covering the hyperloop trial at IIT Madras, Reliance’s brain mapping strategy to attract IPL advertisers, Zara’s store closure in Mumbai, and more.

MUST KNOW

India’s First Hyperloop Test Track Unveiled

IIT Madras, backed by the Ministry of Railways, has unveiled India’s first hyperloop test track—a 422-meter stretch allowing high-speed pods to travel in a near-vacuum tube at speeds exceeding 1,000 km/h. India’s first commercial intent hyperloop pod run was conducted on Monday by TuTr Hyperloop, a deep-tech startup incubated at IIT Madras. Officials are now planning a 40–50 km test track with support from Indian Railways to assess the system’s commercial viability.

If built successfully, it would allow passengers to travel from Delhi to Jaipur—a distance of about 300 km—in less than 30 minutes.

Tata Capital Plans an IPO

Tata Capital has approved plans for an initial public offering (IPO), combining a fresh issue of 23 crore equity shares with an offer-for-sale by existing shareholders. This is Tata Group's first IPO since Tata Technologies’ 2023 listing.

Founded in 2007, Tata Capital offers a range of financial services, including housing and personal loans. Tata Sons currently holds a 92.83% stake, with the remainder owned by other Tata group companies and trusts. The IPO, estimated to exceed ₹15,000 crore, could be one of the group’s largest public offerings yet.

Tech Sector Revenue to Cross $300 Billion

Nasscom projects India’s tech industry revenue will rise 5.1% to $282.6 billion in fiscal 2025, up from 4% growth last year. Software exports are expected to hit $224.4 billion, a 4.6% increase, with total industry revenue forecast to surpass $300 billion by fiscal 2026. The sector is also set to add 126,000 new jobs, bringing the total workforce to 5.8 million.

Key growth drivers include advanced AI adoption, the emergence of agentic AI—systems capable of making autonomous decisions—and the increasing sophistication of global capability centers as high-value hubs.

GOOD TO KNOW

Policy, Governance & Legal

> Sajjan Kumar Sentenced to Life for 1984 Anti-Sikh Riots – Former Congress MP Sajjan Kumar has been sentenced to life imprisonment by a Delhi Court for the 1984 anti-Sikh riots, over 40 years after the murder of a man and his son. The 80-year-old Kumar is already serving a life term in another related case.

> Two Board Exams for Class 10 Students – The CBSE has approved a draft for holding Class-10 board exams twice a year, starting in 2026. The exams will be split into two phases: February 17 to March 6 and May 5 to 20. Stakeholder feedback on the draft will be accepted until March 9 before finalization. The move aims to reduce student stress by allowing exams to be taken on two occasions.

Business

> Zara Closes Iconic South Mumbai Store – Zara has shut down its flagship store in Mumbai’s Fort area after 8 years, citing financial unviability. The store’s rent was about ₹3 crore/month. Located in the 119-year-old Ismail Building at Flora Fountain, the 51,300 sq ft store was one of the largest overseas retail spaces for the brand.

> Post-COVID Shift in Indian Railways' Revenue Model – Since the COVID-19 pandemic, the revenue split between AC and non-AC classes in Indian Railways has flipped. In 2024-25, AC travel is expected to contribute 54% of passenger revenue, up from 36% in 2019-20, while non-AC travel’s share is projected to drop to 41%, compared to 58% five years ago. Indian Railways aims to surpass ₹3 lakh crore in total revenue for 2025-26, an 8.2% increase over 2024-25.

> Suzuki Opens New Plant in India – Maruti Suzuki's India unit has started production at a new plant in Kharkhoda, Haryana, marking its first new facility in eight years. This is part of a larger plan to develop one of Asia's largest passenger vehicle manufacturing plants by 2028, as the Indian market is set to hit 6 million passenger vehicles by 2030.

Tech, Media & Telecom

> Reliance Uses Brain Mapping to Attract IPL Advertisers – Following its $8.5 billion merger with Walt Disney, Reliance is pitching advertising agencies on using neuroscience research, including “brain mapping,” to boost IPL ad sales. According to sources, the company claims it analyzed participants’ brain cells to show its streaming ads have a higher engagement rate than Google’s. Reliance is offering small businesses ad packages worth $17,000 to advertise during the IPL.

> Tata Play and Airtel Digital TV Near Merger – Sources say Tata Play and Airtel Digital TV are finalizing a merger to counter losses in the struggling DTH sector, as consumers shift to digital platforms. The merger will be structured through a share swap. This will be the second major DTH merger in nearly a decade, following Dish TV's 2016 merger with Videocon d2h.

> Crypto Market Soars Amid Boom in Smaller Cities – India’s crypto trading volumes have more than doubled in the October-December quarter, reaching $1.9 billion across major exchanges. The boom is driven by newfound enthusiasts from smaller cities. The market is projected to grow to over $15 billion by 2035 from $2.5 billion in 2024, at an annual growth rate of 18.5%.

Environment & Energy

> Tata Motors Sets its Sights on Tesla – Sources say Tata Motors is set to launch its all-electric SUV, the Tata Avinya, with a projected price of around ₹25 lakh. The car was unveiled in 2022 and is positioned as a direct competitor to Tesla's Model 3, which is expected to cost over ₹30 lakh.

Etcetera

> Transgender Community Finds Belonging at Kumbh – Transgender activists have found rare acceptance at India's Kumbh Mela festival, where they have been giving blessings to pilgrims. The transgender Kinnar Akhada was accepted as the 14th member of the traditionally male-only religious akhada groups in 2019.

> Women Moving from Unpaid to Paid Work – A recent government survey reveals that women’s participation in employment activities increased from 21.8% in 2019 to 25% in 2024. The time spent by women on unpaid domestic work also decreased, from 315 minutes per day in 2019 to 305 minutes in 2024, indicating a shift towards paid jobs.

> Indian Women Upset World No. 1 Netherlands in Hockey – India defeated the Netherlands 2-1 in a shootout after a 2-2 draw in the FIH Hockey Pro League (Women) at Kalinga Stadium, Bhubaneswar. The Netherlands are the reigning Olympic and World champions, while India is ranked 9th.

WORTH A LOOK

Prayank Swaroop, partner at VC firm Accel, created a one-pager on India’s AI landscape. It features startups disrupting fields like content creation, fintech, healthcare, and customer support with AI-driven solutions.

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