Weapon Surrender, Shorter Layovers, Goa Ship

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It’s February 28. Today, we’re covering surrender of weapons by a Meitei group in Manipur, Air India’s push for faster international layovers, a recreated Goan stitched ship, and more.

Policy & Governance

> Amit Shah Assures Southern States Won’t Lose Seats After Delimitation
Union Home Minister Amit Shah assured that southern states will not lose any parliamentary seats after delimitation, addressing concerns from Tamil Nadu and Kerala. Delimitation based on the Census can shift more seats to northern states due to slower population growth in the South. Delimitation, a constitutional process to ensure equal representation, was conducted after every Census until 1976, after which seat redistribution was frozen. (Indian Express, Times of India)

> Centre Looks to Cut States’ Share of Taxes 
The Modi government plans to reduce the share of federal tax revenues allocated to states from 41% to at least 40%, sources say. A panel led by economist Arvind Panagariya will submit binding recommendations by October 31, with changes taking effect from FY 2026-27. The shift could give the Centre an extra ₹35,000 crore ($4.03 billion) annually, amid rising federal spending needs. (Reuters)

> Meitei Group Surrenders 246 Weapons in Manipur Ahead of Deadline
On the final day of the surrender deadline, Arambai Tenggol, a Meitei group, handed over 246 looted weapons. This follows a meeting with Governor Ajay Kumar Bhalla, who had urged all communities to return arms without facing punitive action. Around 6,000 weapons have been looted from state armouries since the conflict began in May 2023, with only 1,200 recovered so far. (Indian Express)

> EU to Discuss Russia Trade and Tariffs with India
European Commission President Ursula von der Leyen is set to discuss concerns over Indian firms allegedly supplying restricted tech to Russia during her visit. Finland’s envoy urged India to prevent the flow of dual-use electronics, calling it a matter of global responsibility. Talks will also cover India’s high tariffs on cars and wine, a key issue in stalled EU-India free trade negotiations, which resumed in 2022 after a nine-year break. (Bloomberg, Business Standard reprint of Bloomberg without paywall)

Business

> India’s VC Funding Surges, Outpaces China 
Venture capital funding in India jumped 70% YoY to $883 million in January 2025, with deal volume rising 41% from 93 to 131, according to GlobalData. In contrast, China saw a 32% drop in deal volume, with funding remaining flat. India accounted for 9.9% of all global VC deals and 3.6% of total deal value, signaling renewed investor confidence in its startup ecosystem. (Business Standard, GlobalData)

> Fast Fashion Brand Bershka Comes to India 
Spain’s Inditex Group has launched Bershka in India, opening its first store in Mumbai’s Phoenix Palladium mall and debuting online. Positioned at a lower price point than Zara, Bershka targets a younger audience. Unlike its joint venture with Tata for Zara and Massimo Dutti, Inditex has entered India directly for Bershka. The move comes as India's lifestyle market is set to hit $210 billion by 2028, according to Bain. (Livemint, Bain report)

> Air India Targets Foreign Flyers with Faster Layovers 
Air India is ramping up efforts to attract international travelers by improving connectivity between the UK, Europe, Australia, and Southeast Asia via India. The airline claims its new routes cut layover times to an average of 2.5 hours, far shorter than the 10-15 hour waits on other carriers. To promote this, it has launched the ‘Via’ campaign in the UK, highlighting India as a quick transit hub for global travel. (CNBCTV18, Air India)

> IMF Flags Risks to India’s Growth Amid Global Uncertainty 
The International Monetary Fund warns that India’s strong economic growth faces risks from geopolitical fragmentation, weaker domestic demand, and external shocks like regional conflicts and volatile commodity prices. In its latest Article IV report, the IMF urged India to accelerate structural reforms, secure critical supply chains, and avoid new trade restrictions to sustain long-term growth and its goal of becoming a developed economy. (IMF, Bloomberg, Yahoo reprint of Bloomberg without paywall)

Tech, Media & Telecom

> Microsoft Bats for Easing AI Chip Export Curbs
Microsoft is lobbying the Trump administration to relax AI chip export restrictions, arguing in a blog that limits on data center chips for AI training should not apply to U.S.-friendly nations like India, Switzerland, and Israel. The company wants a simpler system that ensures allied countries remain competitive in AI development. (Wall Street Journal, Microsoft blog)

> Paytm Partners with Perplexity
Paytm has partnered with AI startup Perplexity to integrate AI-powered search on its app, aiming to enhance financial literacy and accessibility. The feature will allow users to ask everyday questions, explore topics in their local language, and make informed financial decisions using AI-driven insights. (Money Control, Paytm)

Etcetera

> Swedish giant IKEA plans to open small-format stores across Delhi-NCR and start online deliveries from its 180,000 sq. ft. central distribution centre in Gurugram, serving Delhi-NCR and nine satellite cities. (Business Standard)

> A recreated 5th-century stitched ship was launched in Goa and will sail to Oman by 2025, retracing ancient trade routes. (Indian Express)

> Svamitva scheme suffers data quality issues as drones survey over 3 lakh villages to create property ownership records in villages. (Scroll.in)

Worth a Look

Former PepsiCo CEO Indra Nooyi gets candid about work-life balance in this snippet. Honest, insightful, and classic Nooyi—well worth a watch.

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See you on Monday.