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Good morning. To everyone (cause there is simply no one that does not like Roger Federer), lest you forget today is the day that Feddy’s documentary ‘Federer: 12 Final Days’ gets released on Amazon Prime.

Happy watching and crying 🥲

- Ruchirr Sharma & Shatakshi Sharmaa

🧵 In today’s issue

• 📜 Report card

•  🛣️ Infrastructure is the key

• 🗞️ Bite-sized summaries

  • Indian wear is on the rise

  • Google Gemini in India

• 🧑‍🍳 What else is cookin’? (quick links)

• 🍿 Entertainment, Entertainment, Entertainment

📜 Report card

It is review time. 

The Indian government is likely to check in on the progress of the ₹10,372 Cr India AI Mission this week, including the viability gap funding required for AI computing infrastructure, strategies to bridge the AI skills gap, and the implementation of the IndiaAI Datasets Platform.

Here are the deets: 

• The India AI Mission, approved by the Cabinet in March, aims to foster innovation in the domestic AI ecosystem through public-private partnerships. 

• Part of the ₹10,372 Cr outlay will provide funding support for emerging AI startups.

• The mission comprises seven pillars: IndiaAI Compute Capacity, IndiaAI Innovation Centre, IndiaAI Datasets Platform, IndiaAI Application Development, IndiaAI Future Skills, IndiaAI Startup Financing, and safe and trusted AI. 

• Key goals include deploying over 10,000 GPUs, establishing a top AI research institution, enhancing public dataset accessibility, and expanding AI education programs.

Overall: This is the best time to have these conversations, given AI’s global adoption and concerns around potential misuse. 

Earlier, the government had issued an advisory requiring platforms to get approval before launching untested AI models, though it was later withdrawn after industry criticism. 

AI startups like Maxim AI and Ayna have recently raised funding, indicating the growing investor interest in the space.

Read more: Inc42

 🛣️ Infrastructure is the key

Gautam Adani, Chairman of the Adani Group, recently stated that India's cumulative infrastructure spending will exceed $2.5 trillion by 2032 when the country is projected to become a $10 trillion economy. 

Here’s what went down: 

• Speaking at an event organized by Crisil, Adani credited the period from 1991 to 2014 for laying the foundations for India's growth, while 2014 to 2024 has been the "take-off" phase, exemplified by initiatives like the National Infrastructure Pipeline (NIP).

• Adani identified two emerging sectors - infrastructure for enabling energy transition and digital infrastructure - as key drivers of future growth for India and the global economy. 

• He pointed out that the global energy transition market is expected to grow from $3T in 2023 to $6T by 2030 and double every decade until 2050.

Overall: Adani stated that annual investments of over $150B will be required to meet India's target of 500 gigawatts of renewable energy by 2030. 

This transition is expected to create millions of new jobs in sectors such as solar, wind, energy storage, hydrogen, EV charging stations, and grid infrastructure.

Adani also emphasized the convergence of energy transition infrastructure and digital infrastructure, with the technology sector becoming the largest consumer of green energy. 

He projected that by the time India's GDP reaches $30T, the stock market capitalization would exceed $40T, adding $36T over the next 26 years.

Read more: New Indian Express

🗞️ Bite-sized summaries

🥻 Indian wear is on the rise - As Gen Z employees develop a taste for formal ethnic wear like sarees and kurtas, new-age Indian clothing brands targeting this demographic are attracting significant investor interest. Brands such as Libas, which raised $18M, and Koskii, which secured $7M, are capitalizing on this trend by repositioning as "Indian wear" brands and expanding their reach beyond urban areas. The branded ethnic wear market in India, worth around $4B and growing 20-25% annually, has immense potential given the unorganized sector's 80% share. In addition to capturing the Gen Z workforce adopting ethnic styles for work, these brands are also benefiting from the enduring demand for Indian festive wear.

🇮🇳 Google Gemini in India - Google has launched its AI assistant Gemini mobile app in India, available in English and nine Indian languages - Hindi, Bengali, Gujarati, Kannada, Malayalam, Marathi, Tamil, Telugu and Urdu. The Gemini Advanced model is also being updated with these languages, along with new features like document/file uploads of up to 1,500 pages for summarization, data analysis capabilities with spreadsheet uploads, and the ability to chat with Gemini via Google Messages initially in English. The expanded language availability and capabilities aim to boost Gemini's adoption in India, where it has seen encouraging usage across students, developers and creative professionals since its launch last year.

🧑‍🍳 What else is cookin’?

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

• Tata Motors to hike prices of commercial vehicles by up to 2% from July 1.

• Boeing CEO blasted by Senate panel: ‘It’s a travesty that you are still in your job.’

• Why NEET has sparked national outrage in India.

• China fears spark Indian race for cobalt in contested ocean waters.

• JPMorgan puts $1.3T of India bonds in the spotlight.

🍿 Entertainment, Entertainment, Entertainment

• T20 World Cup:

  • South Africa beat the United States by 18 runs.

• Euros 2024:

  • Croatia ties with Albania 2-2

  • Germany beat Hungary 2-0

  • Switzerland ties with Scotland 1-1