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Flipkart to Shift Base from Singapore to India Ahead of IPO Plans
Flipkart announced it will move its holding company from Singapore back to India, a strategic step likely paving the way for its future public listing. The Walmart-backed e-commerce giant says the shift aligns with its Indian roots, growth potential, and commitment to boosting the country’s digital economy and innovation ecosystem.
Read more on The Hindu
The Bharat Project Boosts Rural Entrepreneurs
Union Minister Piyush Goyal launched The Bharat Project by YourStory in Mumbai, empowering entrepreneurs from Tier II, III cities, and rural India. This initiative offers AI-powered mentorship, district-level activations, and a WhatsApp learning program. Featuring the Bharat Ideathon and BharatSparks, it provides funding and visibility. A documentary, Shuru-kar, will showcase inspiring startup stories.
Read more on YourStory
China’s exporters hit hard as USA tariffs freeze orders
After the U.S. hiked tariffs on Chinese goods by 145%, many Chinese exporters like Conmo Electronic are watching U.S. orders vanish. At the Canton Fair, sellers voiced worries about frozen deals, delayed orders, and shifting markets. Some firms eye other regions like Nigeria, but many fear layoffs if this trade standoff drags on.
Read more on Reuters
Investors Evaluate Tariff Exemptions, Boosting Wall Street
Wall Street saw modest gains: Dow up 0.27%, S&P 500 0.38%, Nasdaq 0.21% as technology, semiconductor, and electronics stocks rallied after tariff exemptions were announced on smartphones and computers. Despite early tech strength, worries about economic growth and future levies linger. Goldman Sachs benefits, while Citigroup downgrades U.S. equities amid caution. Investors now eye policy shifts and emerging economic indicators.
Read more on Reuters
Jack Dorsey and Musk Spark IP Law Debate
Jack Dorsey tweeted “delete all IP law,” and Elon Musk instantly backed him, fueling a heated debate on copyright and creator rights. Critics argue they’re undermining artists, while Dorsey claims the system unfairly exploits creators. Musk’s anti-patent stance isn’t new, but the timing hints at deeper tensions over AI, lawsuits, and tech’s future rules.
Read more on TechCrunch
Indian Government Drops Import Duties on EV and Smartphone Components
Finance Minister Nirmala Sitharaman announced zero import duties on key EV and mobile battery components to boost local manufacturing. The Finance Bill 2025 also abolishes the 6% digital ad tax, rationalizes customs tariffs, and provides tax relief for salaried individuals. A new Income Tax Bill will be discussed in the next session.
Read more on TheHindu
India Blocks 1,298 Betting and Gaming Sites to Curb Online Risks
The Indian government has blocked 1,298 online betting and gaming sites since 2022 to curb addiction and illegal activities. Updated IT rules now hold gaming platforms accountable for harmful content. Authorities can block content threatening security or public order, ensuring a safer digital space. The move follows growing concerns over online gambling and financial risks.
Read more on ISN
Nasdaq Plummets Over 3% as Tariff War Sparks Recession Fears
The Nasdaq dropped over 3%, hitting a six-month low, amid concerns of an economic slowdown from escalating tariff wars. The S&P 500 is nearing a critical support level, while volatility surged. Tech stocks like Nvidia, Microsoft, and Tesla saw significant losses. Investors are worried about potential recession risks due to shifting trade policies and uncertainties around tariffs.
Read more on Reuters
TikTok Restored on US App Stores
TikTok, CapCut, and Lemon8 are back on U.S. app stores after a ban delay. President Trump extended ByteDance’s deadline to sell TikTok’s U.S. operations, suggesting a U.S. ownership stake as an alternative. This follows legal actions and national security concerns over ByteDance’s Chinese origins.
Read more on TechCrunch
US President Trump Signs Executive Order to Formalize Musk-Led DOGE Commission
US President Donald Trump signed an executive order renaming the U.S. Digital Service (USDS) to the U.S. DOGE Service (USDS), an advisory body led by Elon Musk to cut federal waste and modernize IT systems. DOGE Teams will be formed in federal agencies to implement the 18-month agenda, set to conclude by July 4, 2026. Lawsuits allege the initiative violates transparency laws, while Musk’s proposals to cut $2 trillion in federal spending, including restructuring key financial agencies, face skepticism.
Read more on TechCrunch.
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