💸 India cracks down on online betting

Good morning. It’s a great day - let’s get this bread 💪 

Ruchirr Sharma & Shatakshi Sharmaa  

TABLE OF CONTENTS

• 💸 India cracks down on online betting

• 🤖 Google localises Gemini, boosts Indian AI

• Bite-sized summaries

  • 💉 Dr. Reddy’s to launch generic Wegovy next year

  • 🇺🇸 U.S. quits UNESCO again

• 🧑‍🍳 What else is cookin’?

MARKETS

🇮🇳 India

• The Indian stock market closed higher, reversing recent declines as investor sentiment improved. Gains in banking, IT, and energy stocks boosted benchmark indices, with buying picking up in the latter half of the session. Broader indices also advanced, aided by renewed interest in midcaps and smallcaps. Optimism surrounding upcoming corporate earnings and stabilizing global cues underpinned the positive momentum.

🌍️ International

• The US stock market closed higher on Wednesday. The Nasdaq also rose supported by optimism from new trade deal progress between the US, Japan, and the EU, along with strong earnings from key stocks like Nvidia and GE Vernova. Investor sentiment improved amid hopes for easing tariff pressures despite some mixed earnings reports.

BETTING

💸 India cracks down on online betting

Online betting platforms in India are finding themselves on the wrong side of the firewall. In a written reply to Parliament, Minister of State for IT Jitin Prasada revealed that 1,524 online gambling and betting sites have been blocked between 2022 and June 2025.

The goal? To make the Indian internet a place that’s open, safe, trusted, and accountable.

Here's what’s happening:

• While gambling laws fall under state jurisdiction (as per the Constitution), the Central Government is using its digital authority to go after online money gaming platforms - especially those that are offshore, unregistered, or in violation of tax laws.

• The Directorate General of GST Intelligence has emerged as a key enforcer, empowered to block such platforms under the Information Technology Act and the IGST Act.

This signals a new, coordinated crackdown where the Centre and States are syncing forces. While the States lead the charge on law enforcement, the Centre is plugging digital loopholes, issuing advisories, and backing states with funding for enforcement.

The broader takeaway? India’s gaming landscape is being reshaped - from Wild West to regulated territory. For users, that means fewer shady apps promising fast cash. For startups, it’s a wake-up call: compliance is no longer optional.

Read more: Economic Times

ARTIFICIAL INTELLIGENCE

🤖 Google localises Gemini, boosts Indian AI

At its Google I/O Connect India 2025 event in Bengaluru, Google rolled out a power-packed suite of AI announcements designed to accelerate India’s tech ambitions, and it’s going all in on local.

Top headlines:

• Gemini 2.5 Flash, Google’s speedy AI model, will now run with onshore processing in India.

• That’s a big win for Indian developers building apps in sensitive sectors like healthcare, finance, and governance, where latency and data compliance matter.

But that’s just the tip of the iceberg.

Google is doubling down on the developer ecosystem, revealing that Android and Play platforms raked in ₹4 lakh crore and created 3.5 million jobs in 2024. To make life easier for devs, Google launched agentic AI tools and upgraded Firebase Studio to enable faster full-stack AI app development.

On the geolocation front, Google Maps is getting an India-friendly refresh — including local pricing and AI summaries in the Places API, perfect for hyper-local services.

The search giant is also backing homegrown AI innovation, teaming up with startups like Sarvam, Soket AI, and Gnani to build “Make-in-India” models on Gemma. Sarvam’s AI translation tool, “Sarvam-Translate,” is one early result. Add in language tech from IIT Bombay and you're looking at real momentum in Indic language AI.

For game devs, the new Play x Unity training program brings pro-level education to 500 Indian creators.

Read more: Economic Times

GENERAL OVERVIEW

🗞️ Bite-sized summaries

💉 Dr. Reddy’s to launch generic Wegovy next year - Dr. Reddy’s Laboratories plans to roll out a generic version of Novo Nordisk’s blockbuster weight-loss drug Wegovy (semaglutide) in 87 countries starting next year. Launches are expected first in Canada, India, and Brazil—pending patent expiries—with Western markets opening between 2029 and 2033. The move targets the $150 billion obesity drug market and could generate hundreds of millions in revenue. Novo Nordisk has sued Dr. Reddy’s for patent infringement. The company has also filed to launch 26 GLP-1-based drugs over the next decade, joining a growing group of Indian pharma firms racing to capitalize on surging demand for weight-loss treatments.

🇺🇸 U.S. quits UNESCO again - The U.S. has withdrawn from UNESCO, citing claims of anti-Israel bias, marking its second exit from the UN cultural agency. Despite the move, UNESCO continues work on global education, cultural heritage preservation, climate action, and AI ethics. Recent successes include rebuilding Mosul’s historic sites and advancing girls’ education. The U.S. previously accounted for a significant portion of the budget, but UNESCO has diversified funding since 2018 - now relying on broader member and private contributions. While the U.S. absence reduces its global influence in the organization, UNESCO’s programs and impact remain strong, supported by 194 member states and increasing international backing.

HEADLINES

🧑‍🍳 What else is cookin’?

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

• Yes Bank awaits SMBC entry for top deck recast.

• Bryan Kohberger gets four life sentences for murdering Idaho college students.

• Judge blocks release of Epstein court files.

• US and EU close in on 15% tariff deal.