🛒 Blinkit’s big switch

Good morning. Jannik Sinner served up revenge at Wimbledon, toppling defending champ Carlos Alcaraz in four sets to claim his first Gentlemen’s title and Italy’s first-ever men’s crown 🎾👑 

This duo 🔥 

Ruchirr Sharma & Shatakshi Sharmaa  

TABLE OF CONTENTS

• 🛒 Blinkit’s big switch

• 🇮🇳 US eases chip rules - India on alert

• 🗞️ Bite-sized summaries

  • 🔎 Google hires Windsurf CEO in $2.4B AI talent deal

  • 💊 FDA ties Fast-Track vouchers to drug affordability

• 🧑‍🍳 What else is cookin’?

MARKETS

🇮🇳 India

• The Indian stock market closed sharply lower amid broad-based selling. Major indices Sensex and Nifty both fell, led by declines in IT and auto stocks. Most sectors ended in the red, with only FMCG and pharma showing resilience. Investor sentiment was dampened by weak global cues and ongoing uncertainty around trade policies and earnings season.

🌍️ International

• US markets retreated as investors reacted to new tariff threats from President Trump, notably a proposed 35% tariff on Canadian imports. The Dow, S&P 500, and Nasdaq all pulled back from recent record highs, with technology and industrials among the laggards. Energy stocks outperformed as oil prices rose, while overall sentiment was cautious amid escalating tradee tensions.

QUICK COMMERCE

🛒 Blinkit’s big switch

Blinkit is ditching the middle seat and moving to the driver’s side.

Starting September 1, the quick commerce player will shift from its hybrid marketplace model to a fully inventory-led model—meaning it’ll now own the stuff it sells. So instead of sellers stocking Blinkit's warehouses and handling listings, Blinkit will buy inventory upfront and sell it under its own name.

This move was triggered by a key change earlier this year: Blinkit’s parent company, Eternal, became an Indian-owned and controlled company (IOCC), unlocking new operational freedoms under India’s FDI rules. (Foreign-owned marketplaces can’t hold inventory—that’s a big no-no.)

Until now, Blinkit used two models:

1. Marketplace model: Sellers list items and pay to store them at Blinkit’s warehouses.

2. Wholesale model: Used by large brands to sell frequently bought items in bulk.

The new setup simplifies the backend. No more GST/FSSAI headaches for sellers. Blinkit sends a purchase order, the goods are sold directly to Blinkit, and done—clean transaction.

And it’s not burning a hole either. Blinkit estimates the cost of managing 100% of its FY25 inventory at under ₹1,000 crore—just 3–4% of its ₹28,000+ crore gross order value.

Overall: This shift gives Blinkit tighter control over margins, pricing, and operations. It also mirrors Zepto’s efforts to localize ownership for regulatory leeway. In a market where speed is king and losses are piling up, owning inventory might just be the power-up Blinkit needs.

Read more: Economic Times

SEMICONDUCTOR

🇮🇳 US eases chip rules - India on alert

The US just threw China a semiconductor lifeline, and India is watching closely.

• In a policy reversal, the US has lifted restrictions on exporting EDA (Electronic Design Automation) software to China.

• Translation: Chinese chip designers can now buy the critical tools they need to design cutting-edge semiconductors - software from giants like Synopsys, Cadence, and Siemens EDA.

For India, this move alters the semiconductor race. With Chinese firms regaining access to top-tier tools, the “China Plus One” strategy - where global players looked to diversify away from China - may now see a pause or rethink. India had hoped to ride that wave, luring companies to invest in chip design centers here.

So what now?

• Experts are unanimous: India needs to step on the gas. It already supplies 20% of the world’s semiconductor design engineers, but most of its activity is at mature nodes - older, more established chip tech.

• The focus now has to shift toward advanced chip design, AI, and high-performance computing, the real battlegrounds of the future.

Meanwhile, smaller EDA startups in India may find a sliver of opportunity. With the big three software players dominating the space, niche AI and chiplet-focused startups could reimagine chip design workflows.

Overall: the US move levels the playing field again — but also intensifies competition. If India wants to lead, investing in IP, R&D, and next-gen EDA tools isn't optional — it’s strategic survival.

Read more: Economic Times

GENERAL OVERVIEW

🗞️ Bite-sized summaries

🔎 Google hires Windsurf CEO in $2.4B AI talent deal - Ask ChatGPTGoogle has hired Varun Mohan, CEO of AI coding startup Windsurf, along with key R&D staff, in a $2.4 billion talent and technology licensing deal. While not acquiring Windsurf, Google gains nonexclusive rights to its tech and bolsters DeepMind’s agentic coding capabilities. The move follows failed acquisition talks between Windsurf and OpenAI. Co-founder Douglas Chen will also join Google, while the rest of Windsurf continues independently under interim CEO Jeff Wang. This talent grab highlights intensifying competition among tech giants for top AI talent, especially in “vibe coding” tools. Meta, Microsoft, and Amazon have made similar strategic hires in recent months.

💊 FDA ties Fast-Track vouchers to drug affordability - The FDA will now consider drug affordability when awarding priority review vouchers to accelerate drug approvals, Commissioner Marty Makary told CNBC. The new program, announced in June, aims to cut review times to as little as one month for treatments serving U.S. national interests. While previously unstated, affordability will now be a key criterion alongside unmet needs, domestic manufacturing, and innovation. The Trump administration is also pushing to lower drug costs and reshore pharma production, but critics question how affordability will be assessed and warn against political favoritism or safety risks from rapid approvals. A one-year pilot phase begins this year.

HEADLINES

🧑‍🍳 What else is cookin’?

What’s happening in India (and around the world 🌍️)

• Bill Gates says Trump’s cuts to USAID are devastating: ‘It’s not too late to reverse them.’

• India should avoid rushing for trade pact with US, warn experts.

• Amid Air India probe, US FAA, Boeing notify fuel switch locks are safe, document.

• Nvidia’s Jensen Huang sells more than $36 million in stock, catching up with Warren Buffett in net worth

CULTURE

🍿 Entertainment, Entertainment, Entertainment

• Wimbledon 2025 comes to an end:

  • Men’s Singles: Jannik Sinner def. Carlos Alcaraz 4–6, 6–4, 6–4, 6–4

  • Women’s Singles: Iga Świątek def. Amanda Anisimova 6–0, 6–0

  • Men’s Doubles: Julian Cash / Lloyd Glasspool def. Rinky Hijikata / David Pel 6–2, 7–6(7–3)

  • Women’s Doubles: Veronika Kudermetova / Elise Mertens def. Hsieh Su-wei / Jeļena Ostapenko 3–6, 6–2, 6–4

  • Mixed Doubles: Sem Verbeek / Kateřina Siniaková def. Joe Salisbury / Luisa Stefani 7–6(7–3), 7–6(7–3)

• India vs England Test cricket series - 3rd test summary:

  • England set India a target of 193 after second-innings collapse

  • India finished Day 4 at 57/4, with England’s Stokes and Carse dominating

• Justin Bieber’s new surprise album Swag holds the number one slot on both Spotify and Apple Music's daily charts this weekend.