🪖 Tougher measures

Good morning and happy Friday. Hope you have a restful weekend when it arrives 🫶 

Ruchirr Sharma & Shatakshi Sharmaa  

TABLE OF CONTENTS

• 💾 More GPU’s

•  🪖 Tougher measures

• 🗞️ Bite-sized summaries

  • 📉 Reduced Repo

  • ℹ️ Consensual data

• 🧑‍🍳 What else is cookin’?

• 🍿 Entertainment, Entertainment, Entertainment

MARKETS

🇮🇳 India

• Indian markets snapped a seven-day rally, ending lower amid profit-booking and heightened geopolitical tensions. Pharma stocks outperformed, but FMCG and realty sectors dragged indices down. IndusInd Bank, UltraTech Cement, and Tata Motors were notable gainers, while Hindustan Unilever declined 4% after weak earnings.

🌍️ International

• US stocks rallied for a third consecutive day, driven by strong earnings from major tech companies and renewed optimism despite ongoing tariff uncertainty. ServiceNow soared nearly 15% on robust AI-driven software demand, while Nvidia, Meta, Amazon, Tesla, and Microsoft all posted strong gain.

CHIPS MANUFACTURING

 💾 More GPU’s

In a significant boost to India’s artificial intelligence (AI) capabilities, the government is set to nearly double its GPU capacity from 14,000 to 29,000 under the IndiaAI Mission. This expansion is a major step towards democratizing access to high-performance computing resources, which are essential for developing and deploying advanced AI models.

Launched on March 6, the IndiaAI compute portal offers GPUs at a highly subsidized rate of ₹67 per GPU hour—less than one US dollar—making these critical resources accessible to academia, startups, MSMEs, public sector entities, and government bodies. With GPUs typically expensive and difficult to procure, this initiative aims to bridge the resource gap that often hampers innovation, especially in early-stage ventures and research institutions.

The government is pursuing a dynamic approach by inviting quarterly proposals from agencies to provide GPU services. Through this continuous empanelment process, providers can offer revised financial proposals that meet or beat the current lowest rate, encouraging competitive pricing and broader participation.

This initiative reflects India’s commitment to nurturing its digital economy and positioning itself as a global hub for AI innovation. By making cutting-edge infrastructure affordable and widely available, the IndiaAI Mission not only empowers a new generation of developers and researchers but also supports the country’s broader goal of digital inclusion and technological leadership.

Read more: Economic Times

INDIA

 🪖 Tougher measures

Following the Pahalgam terror attack that killed 26 people, including 25 Indian nationals and one Nepali citizen, Union Minister Kiren Rijiju affirmed that the Indian government is prepared to take even stricter action going forward.

Key Takeaways from the All-Party Meeting:

• National Unity: Rijiju emphasized that all political parties across the spectrum have expressed unanimous support for the government’s zero-tolerance policy on terrorism.

• Decisions Taken:

  • Indus Waters Treaty of 1960 placed in abeyance

  • Attari Check Post closed

  • Pakistani military officials declared persona non grata

  • SAARC Visa Exemption Scheme revoked

  • All visa services for Pakistani nationals suspended from April 27, 2025

• Prime Minister Narendra Modi, speaking from Bihar, reiterated India’s firm resolve to act decisively against terrorism.

• The attack has been deemed one of the deadliest since Pulwama (2019) and marks a severe escalation in tensions between India and Pakistan.

Rijiju’s remarks underline India’s stance of no compromise on national security, and the government's strategy seems geared toward increasing diplomatic, economic, and strategic pressure on Pakistan.

Read more: Economic Times

GENERAL OVERVIEW

🗞️ Bite-sized summaries

📉 Reduced Repo - Canara Bank and Indian Bank have reduced their repo-linked lending rates (RLLR) by 25 basis points, making home and vehicle loans cheaper. Indian Bank now offers home loans at 7.90% and vehicle loans at 8.25%, along with waived processing fees and zero documentation charges. Canara Bank’s revised rates start at 7.90% for housing loans and 8.20% for vehicle loans. The move aligns with the Reserve Bank of India's effort to boost credit growth and make borrowing more affordable for consumers, particularly in the housing and auto sectors.

ℹ️ Consensual data - Zerodha CEO Nithin Kamath has warned that many mobile apps are misusing user data without proper consent. In a post on X, he criticized apps for bombarding users with spammy notifications and using “dark patterns” to confuse them. Kamath said apps often track activity across other apps and harvest personal data, which is then sold for targeted advertising. He called some of these practices “scammy.” His concerns come as India prepares stricter data protection laws that will require companies to delete unneeded user data after three years and provide users the option to retain it with 48-hour notice.

HEADLINES

🧑‍🍳 What else is cookin’?

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

• Can Pakistan afford to fight India?

• We've generated USD3.6 billion in cash exits in 5 years: Shailendra Singh, Peak XV.

• Teaching AI morality like a child: DeepMind CEO Demis Hassabis talks of ethical use of AI.

• Target, Nvidia and American Express top India’s most desirable workplaces in 2025.

• Gensol promoters, Anmol and Puneet Singh Jaggi, detained in a FEMA case.

CULTURE

🍿 Entertainment, Entertainment, Entertainment

• Heads of State trailer featuring Idris Elba, John Cena, and Priyanka Chopra Jonas out now.

• Havoc review: Tom Hardy dials the ultra-violence and the body count way up in Netflix’s high-octane action thriller.

• IPL 2025: RCB beat RR by 11 runs. Leaderboard here.