📊 Illegal betting booms in India

Good morning. Hope you all had a lovely weekend - it’s a new week, let’s go 🔥 

Ruchirr Sharma & Shatakshi Sharmaa  

TABLE OF CONTENTS

• 🤑 Swedish firms bet big on India’s business climate

• 📊 Illegal betting booms in India

• 🗞️ Bite-sized summaries

  • 🥑 Food license revoked

  • 🧪 Perplexity Labs

• 🧑‍🍳 What else is cookin’?

• 🍿 Entertainment, Entertainment, Entertainment

MARKETS

🇮🇳 India

• Indian equities closed mixed. Selling was broad-based across IT, metal, and auto sectors, though PSU banks outperformed. Broader indices were nearly flat, and the Nifty 50 still ended May with a 1.17% monthly gain, marking its third consecutive positive month.

🌍️ International

• US stocks finished the day mixed after early declines tied to renewed tariff uncertainty. Despite volatility, all three indexes posted strong monthly gains, with the S&P 500 up over 6% and the Nasdaq up 10% in May, driven by robust tech performance and easing inflation.

INDIAN BUSINESS

🤑 Swedish firms bet big on India’s business climate

Swedish companies are doubling down on India, buoyed by a sense of growing opportunity and policy stability. According to the 2025-26 Business Climate Survey by the Swedish Chamber of Commerce India, a majority of firms surveyed expect their turnover to rise in the coming year, with key sectors like construction, aerospace, defence, IT, and electronics leading the optimism.

The sentiment reflects a broader shift in global business strategies, where India is increasingly seen not just as a market, but as a strategic partner in global supply chains. Many companies, especially in manufacturing, are also planning increased investments, citing India’s improving Ease of Doing Business and cost-efficiency in sourcing.

Commerce and Industry Minister Piyush Goyal welcomed the findings, calling them a “resounding approval” of India’s economic direction and the impact of the ‘Make in India’ initiative. “India has become more important in global sourcing strategies,” Goyal noted, adding that the data reaffirms confidence in India’s growth story.

The numbers support the sentiment: bilateral trade between India and Sweden has surged from $2.86 billion in 2016 to $6.96 billion in 2024, while the number of Swedish companies with operations in India has grown to 280.

Legacy players like Ericsson, SKF, and ABB — whose presence dates back over a century — have now been joined by a fresh wave of innovators setting up shop in India’s vibrant tech and industrial hubs, especially in Pune.

Read more: Times of India

BETTING

📊 Illegal betting booms in India

India's digital landscape is facing an alarming surge in illegal betting activity, with offshore platforms like Parimatch, 1xBet, Stake, and BateryBet drawing an eye-popping 5.4 billion visits in FY25, according to a report by CUTS International.

Shockingly, Parimatch alone received more visits than Amazon, X (formerly Twitter), LinkedIn, Hotstar, Quora, and Reddit - putting the platform at the heart of a growing digital menace.

These platforms are not just thriving - they’re evolving. Some now offer cash-on-delivery payment models, enabling even minors to bet without digital access or parental oversight. Agents physically collect cash before crediting betting wallets, drastically lowering entry barriers and exploiting vulnerable demographics.

The report also exposes a wave of “surrogate” websites, such as batery.ai and battery-bet.in, which mimic tech or gaming platforms to mislead users and bypass search engine filters. The use of domains like .ai, typically associated with cutting-edge tech, lends a false sense of credibility to what are essentially fronts for illegal betting.

With annual deposits exceeding $100 billion and growing at 30% year-on-year, these illicit networks are fast becoming a parallel digital economy. Their success stems from a sophisticated blend of SEO tactics, influencer marketing, and platform loopholes. A total of 3,081 illegal betting ads were flagged by the Advertising Standards Council of India in FY25 — including 318 involving social media influencers.

Platforms like YouTube, Instagram, Facebook, and X have become key distribution points for such ads, often embedded within creator content, stories, or meme-based promotions. Despite regulatory tightening, detection and enforcement remain weak, allowing these actors to stay several steps ahead.

In response, Meta has announced stricter advertising policies, allowing only certified gaming companies (via bodies like EGF, AIGF, and FIFS) to advertise. While this is a positive step, experts argue that certification alone is not enough. Surrogate advertising, influencer promotions, and clone websites continue to exploit gray areas in the law and platform governance.

Overall: The explosion of illegal betting activity - masked by sleek UX, tech-like branding, and influencer buzz signals a clear and present danger to digital safety, youth well-being, and financial security. Without coordinated policy, tech, and enforcement action, India’s fight against illegal online gambling may already be on the back foot.aying the foundation for a more connected, empowered, and data-driven economy.

Read more: Economic Times

GENERAL OVERVIEW

🗞️ Bite-sized summaries

🥑 Food license revoked - The Maharashtra FDA has suspended Zepto’s food business licence for its Dharavi facility due to hygiene violations, including fungal contamination, poor cold storage, and improper handling of expired food. The violations breach the Food Safety and Standards Act, 2006. Zepto has launched an internal review and is working with authorities to regain compliance. Meanwhile, Zepto Cafe—its rapid food delivery service—paused operations in several cities due to supply chain challenges, affecting 44 stores and over 700 gig workers. The company aims to resume services by September after securing new vendors and improving quality standards.

🧪 Perplexity Labs - Perplexity AI has launched "Perplexity Labs," a new tool that autonomously creates reports, spreadsheets, dashboards, and simple web apps. Labs performs 10+ minutes of self-directed work using web browsing, code execution, and visual generation tools to transform user prompts into tangible output. Accessible to Pro subscribers on web, iOS, and Android (with Mac and Windows versions coming soon), Labs can also develop interactive apps within projects. This release comes amid Perplexity’s reported $500 million funding talks at a $14 billion valuation. The launch highlights both AI innovation and growing concerns over job displacement in junior white-collar roles.

HEADLINES

🧑‍🍳 What else is cookin’?

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

• BigBasket pilots 10-minute food delivery with Starbucks, Qmin in Bengaluru.

• Microsoft updates Notepad app with new features after decades.

• LinkedIn lays off hundreds as tech giants continue to cut jobs.

• GST collections jump 16.4% yoy to Rs 2.01 lk cr in May, fall from record high in April.

• UPI transactions rise 4.4% in May after April decline.

CULTURE

🍿 Entertainment, Entertainment, Entertainment

• IPL 2025: PBKS vs RCB on Tuesday 3rd June.

• Hollywood actress Hailee Steinfeld marries NFL star Josh Allen.

• F1 - Spain GP: Piastri heads McLaren one-two as Leclerc takes second consecutive podium