DAY 2 Schedule for #CWG2026

The Centre has identified 20 indigenous sovereign AI model proposals for support, including 12 large and 8 small language models, with examples like Sarvam AI's 30B/105B models, Gnani.AI speech-to-speech, BharatGen multilingual models and Avataar AI video model, and 5 of them have been released.

Under the IndiaAI Mission, 93.18 lakh GPU hours and 237 projects were sanctioned for affordable compute at Rs 65-67/hour, and 27 IndiaAI Data and AI Labs were set up with 5,544 candidates enrolled. #Ai #Aatmarnirbharbharat

The Titagarh Rail Systems-Ramkrishna Forgings JV will start commercial production of forged railway wheels at its Gummudipoondi plant near Chennai in August, ending India's 7-decade dependence on imports from Ukraine, Russia and China.

The Rs 2,000 crore plant has 2.28 lakh wheels annual capacity, and will supply 40,000 wheels to Indian Railways in year 1, ramping to 80,000 in 3-4 years, with the rest exported. Over 20 years it will supply about 15 lakh wheels to Railways and is set to become Asia's second-largest forged wheel plant after China. #Railways #Aatmarnirbharbharat

India's gem and jewellery exports rose 26.5% to $2.21 billion in June, driven by lower gold prices and surging shipments, while first-quarter exports held steady at $6.61 billion. Gold jewellery exports saw a significant 54.5% increase during this period. #Exports

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🚨BIG : Pralhad Joshi appointed as New #Education Minister. #Policy

Mauritius ratified a 2024 tax protocol granting officials power to deny treaty benefits if the investment's principal purpose is tax avoidance. Upon India's ratification, the Principal Purpose Test allows denying capital gains benefits on shares bought after April 1, 2017, even with operational substance.

This targets offshore vehicles routing investments into India, tightening GAAR rules and potentially impacting foreign investors from Mauritius, Singapore, and Cyprus. #Policy #Reform

US deeptech startup Mixx Technologies acquired Bengaluru-based Sophic Silicon Technologies and signed a 3-year pact with Kaynes Semicon’s SaNand OSAT for advanced optical IC assembly and test capability for silicon photonics products.

The deal grants Mixx access to mixed-signal design resources, with Sophic’s founder joining Mixx, while Kaynes supports manufacturing. Targeting a market expected to exceed $30 billion by 2030, volumes could reach 5 million units annually to address data centre connectivity challenges. #Semiconductor

India’s space startup count has jumped to 450+ in 6 years from single digits, with $380-390 million raised in the last 3 years and $150-160 million in 2024 alone.

Growth is driven by policy reforms, IN-SPACe support, and a $120 million govt VC fund, with key milestones including Skyroot’s Vikram-1 becoming India’s first private rocket to reach orbit and another startup becoming India’s first space unicorn. #Space

Blackstone has partnered with former HDFC Ergo MD Anuj Tyagi to launch a new general insurance company, and has filed with IRDAI for in-principle approval. It would be the first venture with 90% foreign ownership under India’s 100% FDI limit for insurance, with Blackstone holding 90% and Tyagi 10%.

The venture plans to use AI for underwriting, claims, and distribution, targeting India’s Rs 3.4 lakh crore general insurance market that’s growing 9-10% annually. #Economy

The European Commission proposed adding 2 Indian ship recycling yards to its approved list for the first time. The move would end a 10-year exclusion of Indian facilities, allowing EU-flagged ships to be recycled at compliant yards in Alang, subject to final EU approval. #shipbuilding

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🇮🇳🛤️🇳🇵India launched the first direct rail cargo service from Kolkata Port to Biratnagar in Nepal. The inaugural train carried 40 containers of canola grain, with the corridor designed to handle up to 45 containers per train, reducing transit time and logistics costs for Nepal. #Railways #ForeignAffairs

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Uttar Pradesh now manufactures 65% of India's mobile phones and has attracted over ₹60,000 crore in electronics and semiconductor investments. The state also accounts for 55% of domestic electronics component manufacturing, expanding India's electronics supply chain. #MakeInIndia #Tech

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HCLTech will invest $1.48 billion (₹14,257 crore) to set up its first AI data center in Odisha’s Sovereign AI Park and launch a 5,000-seat Global Technology Center in Bhubaneswar by 2028, partnering with Sarvam AI and supported by the state government, marking a major step in India’s push toward sovereign AI infrastructure and positioning HCLTech as a key player in the country’s growing AI ecosystem. #Ai

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🔹Reserve Bank of India simplified NRI investments with a single repatriable rupee account from June 2026
🔹Investment limits for overseas individuals doubled to 10%, combined ceiling raised to 24% in listed firms
🔹Broader overseas investors now eligible, including individuals resident outside India beyond NRIs and OCIs #Economy #Policy

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Singapore’s Temasek plans to invest ∼$10 billion in India over the next 3 years, with scope to exceed that if opportunities arise, reaffirming long-term conviction despite its India exposure dipping to ∼$42B in FY26 after a Schneider Electric exit.

The fund will focus on consumer, technology, financial services and healthcare which make up 90% of its India portfolio, and bets on India’s consumption growth, organised retail, and sectors like renewables and aerospace. #Economy

HAL and Safran Aircraft Engines signed a long-term deal for HAL to manufacture and supply superalloy turbine ring forgings for the CFM LEAP engine programme at its Bengaluru facility. The agreement expands HAL’s role in global civil aerospace and comes alongside a new Bengaluru JV with Safran to develop helicopter engines for India’s future 13-tonne IMRH. #Avation #MakeinIndia

Zen Technologies secured a ₹177.5 crore defence contract to upgrade and integrate T-90 tank driving and crew gunnery simulators. It’s India’s first integrated T-90 crew training platform, allowing drivers and gunners to train together in one immersive virtual setup to boost teamwork and operational readiness. #Defence

🇺🇦⚔️🇷🇺🇮🇷 Major Escalation

We have attacked several ships in the Caspian Sea that were carrying military goods and had links with Iran

– Ukrainian President Zelenskyy

#InternationalNews

India's nuclear fusion startups urged NITI Aayog for a separate regulatory framework. Current atomic energy laws treat them like high-risk fission reactors, despite fusion having no meltdown risk or long-lived waste. They seek a distinct legal category, risk-based safety norms, no 1km exclusion zones, and easier access to fusion materials for energy security and growth. Funding: $6.8M domestically vs $1.18B in the US. #Nuclear

India Tops Emerging Market Index in June as Rupee Strengthens, Outpacing China and Vietnam #Economy

India Slashes Hunger by 42%, Boosts Diet Affordability Despite Rising Costs #Food