🥇 Gold’s still glittering

Good morning. It’s a start to a new week - let’s get this bread 🍞 💪 

Ruchirr Sharma & Shatakshi Sharmaa  

TABLE OF CONTENTS

• 💻️ India’s first homegrown chip is almost here

• 🥇 Gold’s still glittering

• Bite-sized summaries

  • 🤖 India’s AI middle path

  • 🔌 Maruti to Build 100-City EV Charging Network

• 🧑‍🍳 What else is cookin’?

MARKETS

🇮🇳 India

• Indian markets declined. Losses were led by IT, pharma, and realty sectors after the Reserve Bank of India kept rates unchanged and maintained its growth forecast. Persistent US tariff threats and weak global cues also weighed on investor sentiment.

🌍️ International

• US markets ended higher as tech stocks, led by Apple, rallied strongly. Positive investor sentiment was supported by robust corporate earnings and Apple’s new investment plans despite ongoing tariff news and economic concerns.

SEMICONDUCTOR

💻️ India’s first homegrown chip is almost here

India is on the brink of rolling out its first made-in-India semiconductor - a milestone that’s been decades in the making. Six chip plants are under construction across Gujarat, Assam, and Uttar Pradesh, part of a broader push to make the country self-reliant in high-tech manufacturing.

Until now, India was a chip consumer, not a chip maker. Semiconductors, the tiny brains that power everything from smartphones to fighter jets, have been largely imported, making the country vulnerable to supply chain shocks. Now, with the government’s ₹76,000 crore Semicon India programme and partnerships with global players like Foxconn, India’s aiming to flip that script.

The timing is strategic. Chips are now geopolitics — controlling them means controlling innovation, AI, defense, and even national security. And with the India AI Mission making GPUs available for under $1/hour, India isn’t just building chips; it’s laying the groundwork for affordable, mass-scale AI adoption.

This is also the latest chapter in India’s electronics boom. In 2014, only 26% of phones sold in India were made here. Today, that figure is 99.2%, and the country has become the US’s top smartphone supplier.

The broader implication? If India can replicate its mobile manufacturing success in semiconductors, it won’t just reduce imports — it could become a global chip hub. In an age where tech is power, this is India’s shot at not just playing catch-up, but changing the game.

Read more: Economic Times

GOLD

🥇 Gold’s still glittering

Gold’s having a moment — and not the “ooh shiny” kind. Prices have surged from ₹98,079 per 10g in late July to over ₹1,02,000, with international rates topping $3,534/oz — both record highs. Analysts say the rally isn’t just sparkle; it’s macroeconomic storm clouds, tariff tantrums, and central banks piling in.

The old status quo? Gold usually shines when the world feels wobbly. But lately, it’s been getting an extra polish from geopolitical drama: the US hiking tariffs on dozens of countries (including India, after its Russian oil buys), slowing growth in major economies, and central banks looking to diversify away from the US dollar.

What’s new now? The combo platter of global trade wars, a weakening rupee (which props up local gold prices), and growing chatter about US Fed rate cuts has investors shifting more into gold. Throw in new US tariffs on gold bars (yep, even gold’s getting tariffed), and supply worries are adding more heat to prices.

Why it matters: For investors, gold is like that friend who shows up when everything else is falling apart — steady, reliable, and maybe a bit smug about it. Analysts see potential for $3,800/oz internationally or ₹1,10,000 domestically if tensions escalate. In plain English: unless the world suddenly decides to play nice, gold’s staying on its upward climb.

The takeaway? Whether you’re a seasoned trader or just someone whose mom swears by buying gold on Diwali, the yellow metal’s rally isn’t done yet.

Read more: Economic Times

GENERAL OVERVIEW

🗞️ Bite-sized summaries

🤖 India’s AI middle path - The US, under Trump’s new AI Action Plan, has pivoted from caution to rapid innovation, prioritizing economic and geopolitical dominance over ethical guardrails. This deregulation accelerates AI growth but raises risks of bias, misinformation, and societal harm. China counters with open-source, inclusive AI but retains heavy state control. Caught between these extremes, India has a chance to lead a “third way” in AI - balancing ambition with ethics, fostering inclusive infrastructure, and co-created governance. With its tech ecosystem, Digital Public Infrastructure success, and 2026 AI Impact Summit, India could shape global AI rules for trust, equity, and shared progress.

🔌 Maruti to Build 100-City EV Charging Network - Maruti Suzuki says EVs in India are still mainly bought as second or third cars due to limited public charging options. EVs accounted for 4.5% of July’s passenger vehicle sales, up from 2.5% last year, but adoption remains slow. To boost confidence, Maruti plans to install charging stations in 100 cities, focusing on intra-city travel, while Hyundai targets inter-city routes with 600 DC fast chargers by 2032. India currently has around 26,000 chargers. Maruti will launch four EVs by 2030, starting with the eVitara in FY26, aiming for EVs to make up 15% of its sales by decade’s end.

HEADLINES

🧑‍🍳 What else is cookin’?

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

• PM Modi to inaugurate 184 newly constructed Type-VII multi-storey flats for MPs on Monday.

• Air India’s refurbishment plan deadline delayed again to 2028.

• India seeks transparency from China over construction of mega dam on River Brahmaputra.