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China is positioning itself at the forefront of the next wave of global drug innovation, and artificial intelligence is emerging as the key lever that could tilt dominance in its favour. After cross-border deals for innovative drugs touched a record $110 billion in the first half of 2026, China's pharmaceutical sector is rapidly pivoting toward AI-driven drug discovery to sustain momentum. The shift signals a deeper transformation, from being a fast follower to becoming a global leader in cutting-edge therapies.Also read | <a href="https://www.wionews.com/trending/how-long-before-sun-destroys-the-earth-scientists-may-have-discovered-the-planet-s-expiry-date-1783760812774">How long before sun destroys the Earth? Scientists may have discovered the planet's 'expiry date'</a> China already accounts for roughly 30 per cent of all new drugs under development worldwide, placing it behind only the US More significantly, deal activity is accelerating. By the end of June, 81 transactions had been completed; that is nearly 80 per cent of last year’s total. It spans high-value therapeutic areas such as oncology, metabolic diseases, immunology and neurology. Global buyers, particularly from the US and Europe, continue to actively partner with Chinese firms.<a href="https://www.wionews.com/videos/china-turns-to-ai-for-next-drug-breakthroughs-1784005943869/embed">https://www.wionews.com/videos/china-turns-to-ai-for-next-drug-breakthroughs-1784005943869/embed</a>The latest collaborations highlight how AI is reshaping the innovation pipeline. Domestic companies are leveraging proprietary platforms to design molecules, simulate patient responses and optimise early-stage testing. Partnerships with global pharmaceutical majors are increasingly structured around milestone-based payouts that could run into billions of dollars. AI is enabling faster and more precise drug development by reducing reliance on traditional trial-and-error methods. Virtual modelling, predictive analytics and data-driven insights are helping companies refine candidates earlier, potentially lowering costs and shortening timelines.Also read | <a href="https://www.wionews.com/trending/built-to-outlive-us-all-earth-is-getting-an-indestructible-black-box-to-record-the-end-of-human-civilisation-1783747790087">Built to outlive us all: Earth is getting an indestructible ‘black box’ to record the end of human civilisation</a> This convergence of technology and biomedicine is strengthening China's position in the global healthcare ecosystem. Its ability to combine large datasets, advanced AI capabilities and a rapidly maturing regulatory framework is creating a powerful engine for innovation. The critical question now is whether this momentum translates into sustained global leadership. Experts say if current trends hold, China may not just participate in the next generation of medical breakthroughs; it could redefine them.

China is using artificial intelligence to discover the next generation of blockbuster medicines. With innovative drug deals hitting a record $110 billion in just six months, Beijing is positioning itself to become a global pharmaceutical powerhouse.

China is positioning itself at the forefront of the next wave of global drug innovation, and artificial intelligence is emerging as the key lever that could tilt dominance in its favour. After cross-border deals for innovative drugs touched a record $110 billion in the first half of 2026, China's pharmaceutical sector is rapidly pivoting toward AI-driven drug discovery to sustain momentum. The shift signals a deeper transformation, from being a fast follower to becoming a global leader in cutting-edge therapies. Also read | How long before sun destroys the Earth? Scientists may have discovered the planet's 'expiry date' China already accounts for roughly 30 per cent of all new drugs under development worldwide, placing it behind only the US More significantly, deal activity is accelerating. By the end of June, 81 transactions had been completed; that is nearly 80 per cent of last year’s total. It spans high-value therapeutic areas such as oncology, metabolic diseases, immunology and neurology. Global buyers, particularly from the US and Europe, continue to actively partner with Chinese firms. https://www.wionews.com/videos/china-turns-to-ai-for-next-drug-breakthroughs-1784005943869/embed The latest collaborations highlight how AI is reshaping the innovation pipeline. Domestic companies are leveraging proprietary platforms to design molecules, simulate patient responses and optimise early-stage testing. Partnerships with global pharmaceutical majors are increasingly structured around milestone-based payouts that could run into billions of dollars. AI is enabling faster and more precise drug development by reducing reliance on traditional trial-and-error methods. Virtual modelling, predictive analytics and data-driven insights are helping companies refine candidates earlier, potentially lowering costs and shortening timelines. Also read | Built to outlive us all: Earth is getting an indestructible ‘black box’ to record the end of human civilisation This convergence of technology and biomedicine is strengthening China's position in the global healthcare ecosystem. Its ability to combine large datasets, advanced AI capabilities and a rapidly maturing regulatory framework is creating a powerful engine for innovation. The critical question now is whether this momentum translates into sustained global leadership. Experts say if current trends hold, China may not just participate in the next generation of medical breakthroughs; it could redefine them.

China is using artificial intelligence to discover the next generation of blockbuster medicines. With innovative drug deals hitting a record $110 billion in just six months, Beijing is positioning itself to become a global pharmaceutical powerhouse.

China's $110-billion AI pharma boom could redefine the future of medicine

India's banking sector gets a stark warning. That is based on a sharp read emerging from the latest threat intelligence report from the Ministry of Electronics and Information Technology, along with the Indian Computer Emergency Response Team, the computer security incident response team in finance and cybersecurity firm SISA. They jointly flagged the banking, financial services and insurance sectors as India's most exposed digital frontier. In their second digital threat report, the headline finding should worry every bank CEO. Six of seven threats predicted last year have already gone from theory to full-scale reality. The gap between a hacker discovering a weakness and exploiting it has collapsed from years to weeks. The report's core insight is "AI asymmetry". Attackers now automate what once needed specialist teams, while banks' defensive systems lag behind. That's not speculation. Recent industry data backs it up. A survey of chief information security officers from the banking, financial services, and insurance sector found 43 per cent believe attackers have outpaced their defences. Still, only 19 per cent raised security budgets by more than 10 per cent.&nbsp;Also Read: <a href="https://www.wionews.com/business-economy/swipe-right-on-credit-india-s-gen-z-is-embracing-credit-cards-faster-than-millennials-shows-cibil-report-1783655894398">Swipe right on credit: India's Gen Z is embracing credit cards faster than millennials</a> S. Krishnan, Secretary of the Ministry of Electronics and Information Technology, said, "India must build resilient software and hardware systems to withstand cyber threats." The report showed that India's mid-sized banks and non-banking financial services firms are the most exposed. They face 1.6 times more attacks per organisation than global peers, largely due to underinvestment.&nbsp;Also Read: <a href="https://www.wionews.com/videos/bank-for-international-settlments-raises-global-economic-alarms-1782724330723">Bank for International Settlments raises global economic alarms</a> The new "4-layer gap framework" reframes breaches not as single failures, but as chains of compounding weaknesses. That includes credential theft, cloud exploitation and supply-chain gaps stacking up until trust itself collapses. With an 18-month roadmap now on the table, the real test is whether India's financial institutions can close this gap before the next attack cycle arrives. According to the digital threat report for 2025-26, organisations have policies on paper but no operating model connecting security, legal and business teams. Digital payments are projected to hit $3.1 trillion by 2028, 35 per cent of total banking revenue. That is a growth story regulators want, but one that expands attack surface faster than compliance frameworks adapt. AI-driven "agentic commerce" is now being flagged as 2026's core security challenge, and the picture sharpens. The report shows that India's financial digitisation is outrunning its own defence architecture.

A new MeitY-CERT-In-SISA report warns India's banking sector faces rising cyber threats as AI-powered attacks outpace defences. Mid-sized banks and NBFCs are most vulnerable, with experts urging stronger cybersecurity as digital payments continue to grow.

India's banking sector gets a stark warning. That is based on a sharp read emerging from the latest threat intelligence report from the Ministry of Electronics and Information Technology, along with the Indian Computer Emergency Response Team, the computer security incident response team in finance and cybersecurity firm SISA. They jointly flagged the banking, financial services and insurance sectors as India's most exposed digital frontier. In their second digital threat report, the headline finding should worry every bank CEO. Six of seven threats predicted last year have already gone from theory to full-scale reality. The gap between a hacker discovering a weakness and exploiting it has collapsed from years to weeks. The report's core insight is "AI asymmetry". Attackers now automate what once needed specialist teams, while banks' defensive systems lag behind. That's not speculation. Recent industry data backs it up. A survey of chief information security officers from the banking, financial services, and insurance sector found 43 per cent believe attackers have outpaced their defences. Still, only 19 per cent raised security budgets by more than 10 per cent. Also Read: Swipe right on credit: India's Gen Z is embracing credit cards faster than millennials S. Krishnan, Secretary of the Ministry of Electronics and Information Technology, said, "India must build resilient software and hardware systems to withstand cyber threats." The report showed that India's mid-sized banks and non-banking financial services firms are the most exposed. They face 1.6 times more attacks per organisation than global peers, largely due to underinvestment. Also Read: Bank for International Settlments raises global economic alarms The new "4-layer gap framework" reframes breaches not as single failures, but as chains of compounding weaknesses. That includes credential theft, cloud exploitation and supply-chain gaps stacking up until trust itself collapses. With an 18-month roadmap now on the table, the real test is whether India's financial institutions can close this gap before the next attack cycle arrives. According to the digital threat report for 2025-26, organisations have policies on paper but no operating model connecting security, legal and business teams. Digital payments are projected to hit $3.1 trillion by 2028, 35 per cent of total banking revenue. That is a growth story regulators want, but one that expands attack surface faster than compliance frameworks adapt. AI-driven "agentic commerce" is now being flagged as 2026's core security challenge, and the picture sharpens. The report shows that India's financial digitisation is outrunning its own defence architecture.

India banking sector, cyber threat report, MeitY, CERT-In, SISA, banking cybersecurity, India cyber security, AI cyber attacks, digital threat report 2025-26, Indian banks, NBFC cyber security, BFSI sector, cyber threats India, digital payments India, banking cyber attacks

Indian banks face AI threat speed trap

Union commerce and industry minister Piyush Goyal on Monday denied reports of any impasse in India-US trade talks, saying he had held “fantastic meetings” with American trade representative Jamieson Greer.Goyal was reacting to a report of the Reuters news agency claiming India had rejected a quick trade agreement with the US in recent talks and that New Delhi is “holding out for a better deal”.&nbsp;“This news is completely false, baseless and misleading. I had fantastic meetings with USTR Jamieson Greer, @USTradeRep, when he visited Delhi in June,” Goyal said in a post on X.&nbsp;He added that in recent meetings both sides “reaffirmed their commitment” to reaching an agreement that would be “balanced, commercially meaningful, and delivers tangible benefits for businesses, farmers, workers, and consumers in both countries.”Goyal said the trade teams “remain fully engaged” in achieving the objective.&nbsp;&nbsp;

<blockquote class="twitter-tweet">This news is completely false, baseless and misleading. I had fantastic meetings with USTR Jamieson Greer, <a href="https://x.com/USTradeRep?ref_src=twsrc%5Etfw">@USTradeRep</a>, when he visited Delhi in June. Both sides reaffirmed their commitment to an agreement that is balanced, commercially meaningful, and delivers tangible… <a href="https://t.co/0JZOULEL6i">https://t.co/0JZOULEL6i</a>&mdash; Piyush Goyal (@PiyushGoyal) <a href="https://x.com/PiyushGoyal/status/2076598538474328222?ref_src=twsrc%5Etfw">July 13, 2026</a></blockquote> <script async src="https://platform.x.com/widgets.js" charset="utf-8"></script>

&nbsp;Also Read: <a href="https://www.wionews.com/world/uk-proscribes-iran-s-islamic-revolutionary-guards-as-terror-organisation-1783946588025">UK proscribes Iran’s Islamic Revolutionary Guards as terror organisation</a>&nbsp;Goyal was denying the Reuters report which claimed that India had rejected a quick trade agreement with the US and that there was “no consensus because Washington did not offer assurances on New Delhi’s key demands.” The report cited an Indian government official who was not named.It also quoted a US official as saying that India had “been difficult in the negotiations”, signalling that no quick deal was likely.&nbsp;<h2>‘Don’t see any challenge in talks,’ says commerce secretary</h2>&nbsp;Commerce secretary Rajesh Agarwal also earlier said there were no obstacles in concluding the India-US trade agreement. “We don’t see any challenge on India-US trade deal negotiations,” Agarwal had said during a briefing.Speaking about the recent engagement between New Delhi and Washington, Agarwal said the Indian team had visited the US in May, while the US team came to India last month.“Talks are going on in a proper framework,” he added, while highlighting that both sides had maintained a positive tone and that the “deal is ready.”&nbsp;Also Read: <a href="https://www.wionews.com/world/revenge-is-coming-soon-iranian-newspaper-warns-us-europe-leaders-in-front-page-headline-1783881732741">‘Revenge is coming soon,’ Iranian newspaper warns US, Europe leaders in front-page headline</a>&nbsp;"The India-US framework deal is ready. We are ready to sign. Right time is being awaited,” he said. The work on the deal had been completed, and things were getting “structured”, he added. “We are progressing well,” Agarwal stated.&nbsp;Regarding the broader trade environment, Agarwal outlined that US tariff actions have created uncertainty for many partners. “Now again they are in discussion with other countries. They are having a parallel investigation,” the commerce secretary said, adding that India was a part of these discussions. “We have joined consultations. All progressing in right directions,” he said.&nbsp;Also Read: <a href="https://www.wionews.com/world/lindsey-graham-sent-to-hell-iranian-state-tv-anchor-congratulates-citizens-on-senator-s-death-1783875365713">‘Lindsey Graham sent to hell’: Iranian state TV anchor congratulates citizens on Senator’s death</a>&nbsp;Meanwhile, US State Department spokesperson Margaret Macleod said last week that the US officials had expressed “great optimism” regarding the interim trade agreement with India.“We hear from US government officials that there is great optimism it will happen soon, but for the specific details, it would be best to ask the US Trade Representative directly,” the spokesperson said.

Union Commerce and industry minister Piyush Goyal denied the Reuters report which claimed that India had rejected a quick trade agreement with the US and that there was no consensus because Washington did not offer assurances on New Delhi’s key demands.

Union commerce and industry minister Piyush Goyal on Monday denied reports of any impasse in India-US trade talks, saying he had held “fantastic meetings” with American trade representative Jamieson Greer. Goyal was reacting to a report of the Reuters news agency claiming India had rejected a quick trade agreement with the US in recent talks and that New Delhi is “holding out for a better deal”. “This news is completely false, baseless and misleading. I had fantastic meetings with USTR Jamieson Greer, @USTradeRep, when he visited Delhi in June,” Goyal said in a post on X. He added that in recent meetings both sides “reaffirmed their commitment” to reaching an agreement that would be “balanced, commercially meaningful, and delivers tangible benefits for businesses, farmers, workers, and consumers in both countries.” Goyal said the trade teams “remain fully engaged” in achieving the objective.

Union Commerce and industry minister Piyush Goyal denied the Reuters report which claimed that India had rejected a quick trade agreement with the US and that there was no consensus because Washington did not offer assurances on New Delhi’s key demands.

‘Baseless, misleading’: Piyush Goyal slams report saying India rejected quick trade deal with US

Nearly two weeks after twin earthquakes struck Venezuela's Caribbean coast, the focus is shifting from rescue to recovery. The quakes devastated the coastal city of La Guaira, claiming more than 4,000 lives and leaving nearly 17,000 people injured. Once a popular beach destination for residents of nearby Caracas, the city is now covered in rubble. Faisuris Alvarez, owner of a beach food stall, spoke to AFP about how 'leaving' is not a choice. 'I’ve got family out there, and they’ve told me to leave, but I say I’m not leaving here because I’ve built everything here and I arrived on this beach nearly eight or nine years ago. I have everything here – my customers, my friends, my house, my stall,' he said.Also read | <a href="https://www.wionews.com/world/venezuela-earthquake-drone-footage-shows-extent-of-damage-caused-by-twin-quakes-1782715503030">Venezuela earthquake: Drone footage shows extent of damage caused by twin quakes</a> According to the United Nations Office for Disaster Risk Reduction, the disaster has caused an estimated $37 billion in material damage. But beyond the physical destruction, the economic fallout is emerging as the next major challenge. For thousands of residents, the earthquakes have also wiped out their source of income. Beach vendors, shopkeepers and small business owners are now struggling to survive as customers disappear and commercial activity remains disrupted. Some businesses that survived the tremors were later looted during the chaotic aftermath, adding to their losses. Luis Baena, co-owner of Bilight, the company that was looted and then got burnt down, said, 'At 7 am the following day, we were informed that our company, our warehouse, our store – the livelihood of many families – was being looted. Around 60 or 70 families depend on this company.'Watch | Venezuela's economic recovery hinges on reconstruction<a href="https://www.wionews.com/videos/venezuela-s-economic-recovery-hinges-on-reconstruction-1783922254098/embed">https://www.wionews.com/videos/venezuela-s-economic-recovery-hinges-on-reconstruction-1783922254098/embed</a>Economists warn that the impact extends well beyond damaged buildings. Trade, transportation, supply chains, employment and consumer spending are all expected to suffer, creating long-term economic uncertainty for one of Venezuela's key coastal commercial hubs. While some businesses have cautiously reopened, recovery remains slow. Residents say it will take time for customers, tourists and economic activity to return. Experts argue that reconstruction could help revive the local economy, but only if authorities can mobilise adequate funding, rebuild infrastructure and restore investor confidence.

Economists warn that the impact extends well beyond damaged buildings. Trade, transportation, supply chains, employment and consumer spending are all expected to suffer, creating long-term economic uncertainty for one of Venezuela's key coastal commercial hubs.

Nearly two weeks after twin earthquakes struck Venezuela's Caribbean coast, the focus is shifting from rescue to recovery. The quakes devastated the coastal city of La Guaira, claiming more than 4,000 lives and leaving nearly 17,000 people injured. Once a popular beach destination for residents of nearby Caracas, the city is now covered in rubble. Faisuris Alvarez, owner of a beach food stall, spoke to AFP about how 'leaving' is not a choice. 'I’ve got family out there, and they’ve told me to leave, but I say I’m not leaving here because I’ve built everything here and I arrived on this beach nearly eight or nine years ago. I have everything here – my customers, my friends, my house, my stall,' he said. Also read | Venezuela earthquake: Drone footage shows extent of damage caused by twin quakes According to the United Nations Office for Disaster Risk Reduction, the disaster has caused an estimated $37 billion in material damage. But beyond the physical destruction, the economic fallout is emerging as the next major challenge. For thousands of residents, the earthquakes have also wiped out their source of income. Beach vendors, shopkeepers and small business owners are now struggling to survive as customers disappear and commercial activity remains disrupted. Some businesses that survived the tremors were later looted during the chaotic aftermath, adding to their losses. Luis Baena, co-owner of Bilight, the company that was looted and then got burnt down, said, 'At 7 am the following day, we were informed that our company, our warehouse, our store – the livelihood of many families – was being looted. Around 60 or 70 families depend on this company.' Watch | Venezuela's economic recovery hinges on reconstruction https://www.wionews.com/videos/venezuela-s-economic-recovery-hinges-on-reconstruction-1783922254098/embed Economists warn that the impact extends well beyond damaged buildings. Trade, transportation, supply chains, employment and consumer spending are all expected to suffer, creating long-term economic uncertainty for one of Venezuela's key coastal commercial hubs. While some businesses have cautiously reopened, recovery remains slow. Residents say it will take time for customers, tourists and economic activity to return. Experts argue that reconstruction could help revive the local economy, but only if authorities can mobilise adequate funding, rebuild infrastructure and restore investor confidence.

Economists warn that the impact extends well beyond damaged buildings. Trade, transportation, supply chains, employment and consumer spending are all expected to suffer, creating long-term economic uncertainty for one of Venezuela's key coastal commercial hubs.

Deadly earthquakes leave Venezuela facing a massive economic recovery

Businesses in Afghanistan's western city of Herat are reporting a sharp decline in sales after many women stopped visiting markets following a recent crackdown on dress code violations. Shopkeepers say female customers, who make up the majority of shoppers in the city are now staying home out of fear of being detained by the Taliban's morality police.&nbsp;<a href="https://www.wionews.com/videos/plight-of-afghan-women-growing-isolation-humanitarian-crisis-deepens-1778264113793/embed">https://www.wionews.com/videos/plight-of-afghan-women-growing-isolation-humanitarian-crisis-deepens-1778264113793/embed</a>&nbsp;&nbsp;Traders estimate their business has fallen significantly, with some reporting sales have dropped by nearly 50 per cent. Farshid Karimi, a rickshaw driver, spoke to news agency AFP regarding the broader business impact.&nbsp;Also read: <a href="https://www.wionews.com/world/afghanistan-s-top-diplomat-in-delhi-seeks-india-s-help-in-water-management-agriculture-modernisation-1783687531113">Afghanistan’s top diplomat in Delhi seeks India’s help in water management, agriculture modernisation</a>&nbsp;“Before, women were free, they could come here comfortably to do shopping and then go home. There was no restriction. They could freely take the rickshaw to go around,” he said.&nbsp;“Now, as the restriction has been imposed, they cannot go out, so there's no work for us. Two months ago, I used to earn a profit of 600 AFS ($9.24) after fuel cost, but now, we can earn only 300 to 350 AFS that we have to use for fuel,” he added.&nbsp;&nbsp;The latest enforcement drive began in early June, when dozens of women were detained over allegations that they failed to comply with official dress codes requiring body-covering garments. The crackdown has changed daily life in Herat, with many women saying they now leave home only when absolutely necessary. Some have stopped attending classes, meeting friends, or going shopping altogether.&nbsp;Also read: <a href="https://www.wionews.com/world/taliban-restricts-women-workers-un-suspends-work-at-afghanistan-iran-border-in-protest-1762266785565">Taliban restricts women workers, UN suspends work at Afghanistan-Iran border in protest</a>&nbsp;Ramin Ghafoori, a shopkeeper in Herat said, 'Since those incidents occurred...after that, currently the markets have stopped. We held a meeting inside the market a few days ago, you might have seen that the market was closed due to this reason. Because there was no market, there were no women in the market. The rent of the shop was high, and we could not afford that and then due to our market being closed.'&nbsp;'The market revolves around women. If there is no woman, there is no bazaar,' he added.The impact extends beyond retail. Auto rickshaw drivers say their daily earnings have fallen from around $9 to about $4 as fewer women travel across the city. Tailors, transport operators and restaurant owners are also reporting lower business activity.&nbsp;The slowdown in consumer spending comes as Afghanistan continues to grapple with a fragile economy, shrinking foreign aid and a worsening humanitarian crisis. Since returning to power in 2021, the Taliban has imposed wide-ranging restrictions on women's education, employment, and public life.&nbsp;Nazeer Ahmad Azimi, a shopkeeper, said, “The restrictions imposed in Herat also has a 50 per cent impact. Because men are all busy with work, because the economy of Afghanistan's people is weak. A man cannot come for a day to buy a pair of sandals, whether it's for men or women, he'll be in further loss.”&nbsp;Economists say limiting women's participation in society also weakens private sector activity, which is essential for long-term economic recovery. The United Nations has previously estimated that excluding women from economic and public life could cost Afghanistan's economy around $1 billion every year.

As the Taliban intensifies restrictions on female mobility and education, a comprehensive UN assessment reveals that erasing women from public and private sectors is costing Afghanistan over $1 billion annually, crippling its domestic markets and public healthcare systems.

Businesses in Afghanistan's western city of Herat are reporting a sharp decline in sales after many women stopped visiting markets following a recent crackdown on dress code violations. Shopkeepers say female customers, who make up the majority of shoppers in the city are now staying home out of fear of being detained by the Taliban's morality police. https://www.wionews.com/videos/plight-of-afghan-women-growing-isolation-humanitarian-crisis-deepens-1778264113793/embed Traders estimate their business has fallen significantly, with some reporting sales have dropped by nearly 50 per cent. Farshid Karimi, a rickshaw driver, spoke to news agency AFP regarding the broader business impact. Also read: Afghanistan’s top diplomat in Delhi seeks India’s help in water management, agriculture modernisation “Before, women were free, they could come here comfortably to do shopping and then go home. There was no restriction. They could freely take the rickshaw to go around,” he said. “Now, as the restriction has been imposed, they cannot go out, so there's no work for us. Two months ago, I used to earn a profit of 600 AFS ($9.24) after fuel cost, but now, we can earn only 300 to 350 AFS that we have to use for fuel,” he added. The latest enforcement drive began in early June, when dozens of women were detained over allegations that they failed to comply with official dress codes requiring body-covering garments. The crackdown has changed daily life in Herat, with many women saying they now leave home only when absolutely necessary. Some have stopped attending classes, meeting friends, or going shopping altogether. Also read: Taliban restricts women workers, UN suspends work at Afghanistan-Iran border in protest Ramin Ghafoori, a shopkeeper in Herat said, 'Since those incidents occurred...after that, currently the markets have stopped. We held a meeting inside the market a few days ago, you might have seen that the market was closed due to this reason. Because there was no market, there were no women in the market. The rent of the shop was high, and we could not afford that and then due to our market being closed.' 'The market revolves around women. If there is no woman, there is no bazaar,' he added. The impact extends beyond retail. Auto rickshaw drivers say their daily earnings have fallen from around $9 to about $4 as fewer women travel across the city. Tailors, transport operators and restaurant owners are also reporting lower business activity. The slowdown in consumer spending comes as Afghanistan continues to grapple with a fragile economy, shrinking foreign aid and a worsening humanitarian crisis. Since returning to power in 2021, the Taliban has imposed wide-ranging restrictions on women's education, employment, and public life. Nazeer Ahmad Azimi, a shopkeeper, said, “The restrictions imposed in Herat also has a 50 per cent impact. Because men are all busy with work, because the economy of Afghanistan's people is weak. A man cannot come for a day to buy a pair of sandals, whether it's for men or women, he'll be in further loss.” Economists say limiting women's participation in society also weakens private sector activity, which is essential for long-term economic recovery. The United Nations has previously estimated that excluding women from economic and public life could cost Afghanistan's economy around $1 billion every year.

As the Taliban intensifies restrictions on female mobility and education, a comprehensive UN assessment reveals that erasing women from public and private sectors is costing Afghanistan over $1 billion annually, crippling its domestic markets and public healthcare systems.

No women, no business: Afghanistan's economy feels the impact

As concerns about E20 fuel damaging car engines, affecting mileage and more continue to strengthen, one question many consumers have been asking: Why can't we choose which petrol to fill our car with - &nbsp;normal, E10 and E20?. Now the government has finally answered.Defending its decision to roll out E20 fuel without giving consumers a choice between normal petrol, E10 and E20 at the pump, the Centre said that India’s fuel delivery system is simply not built to handle multiple nationwide petrol streams at once. Notably, at fuel pumps in India, vehicle owners get the choice to choose between multiple variants, including normal and premium petrol like XP95 and Speed fuel. Then, why can't consumers similarly make their own choice between normal petrol, E10 and E20? Here's what the Government of India said.Also read | <a href="https://www.wionews.com/india-news/india-hardeep-puri-defends-e20-petrol-dismisses-mileage-engine-health-criticism-as-make-believe-narrative-1783050765587">India: Hardeep Puri admits E20 petrol may reduce mileage, but dismisses widespread criticism as ‘make-believe narrative’</a><h2>Why not just sell all three fuels separately?</h2>Responding to the growing debate, the Ministry of Petroleum and Natural Gas said the transition to E20 was planned after consultations with automobile manufacturers, testing agencies and other stakeholders. The decision, it said, was based on technical checks covering vehicle compatibility, engine performance, emissions, and fuel efficiency.According to the ministry, a choice is where the problem begins. It noted that India has more than one lakh retail fuel outlets, backed by a vast chain of refineries, terminals, depots and pipelines. The Ministry insisted that running separate supply lines for normal petrol, E10 and E20 across that network would sharply increase costs, complicate storage and inventory management, and reduce operational efficiency.The ministry also pushed back against comparisons with premium petrol. Those products, it said, are niche fuels sold in limited quantities with special additives. They do not require the kind of separate nationwide supply chain that different petrol blends would.<a href="https://www.wionews.com/videos/india-s-e20-fuel-policy-under-supreme-court-scanner-1782888129529/embed">https://www.wionews.com/videos/india-s-e20-fuel-policy-under-supreme-court-scanner-1782888129529/embed</a><h2>But what about older vehicles?</h2>Concerns have also grown among owners of older cars and two-wheelers that were originally marked as E10-compatible, not E20-compatible.On that point, the ministry said vehicle manufacturers were involved in the consultation process before the higher ethanol blend was introduced. It argued that if the companies had not been satisfied with the results of testing, they would not have supported the rollout or continued to honour warranties."Had automobile manufacturers not been fully satisfied with the results, they would never have stood behind the product or honoured vehicle warranties," the ministry said.It added that "virtually every manufacturer today" is now honouring warranties for vehicles, old and new, because they were part of the consultation.Also read | <a href="https://www.wionews.com/india-news/when-will-petrol-and-diesel-get-cheaper-in-india-modi-government-s-petroleum-minister-hardeep-puri-drops-big-hint-1783041168875">When will petrol and diesel get cheaper in India? Modi government's petroleum minister Hardeep Puri drops BIG HINT</a><h2>What has field experience shown?</h2>The ministry cited data from the ground to support its case. It said Maruti Suzuki serviced 2.84 crore vehicles in FY 2025-26, including 1.5 crore older vehicles not originally certified for E20, without reporting major E20-related problems such as corrosion, abnormal wear or component damage. Hero MotoCorp, it added, has reported similar experience.The ministry acknowledged that some vehicles may see a 3 to 5 per cent drop in fuel economy with E20. But it said mileage is only one part of the picture.According to the ministry, E20 also offers higher octane, better combustion, smoother acceleration, cleaner engine operation and lower lifecycle carbon emissions. Customers, however, continue to protest the forced implementation. On Social media, countless videos by Indians continue to question and slam the move to E20, with many presenting proof of how the ethanol-blended fuel has damaged their expensive vehicles.

Why can't Indian motorists simply choose between normal petrol, E10 and E20 at fuel stations? As criticism of ethanol-blended fuel grows, the Centre has finally explained why consumers aren't being given that choice. Scroll down to find out what the government said.

As concerns about E20 fuel damaging car engines, affecting mileage and more continue to strengthen, one question many consumers have been asking: Why can't we choose which petrol to fill our car with - normal, E10 and E20?. Now the government has finally answered. Defending its decision to roll out E20 fuel without giving consumers a choice between normal petrol, E10 and E20 at the pump, the Centre said that India’s fuel delivery system is simply not built to handle multiple nationwide petrol streams at once. Notably, at fuel pumps in India, vehicle owners get the choice to choose between multiple variants, including normal and premium petrol like XP95 and Speed fuel. Then, why can't consumers similarly make their own choice between normal petrol, E10 and E20? Here's what the Government of India said. Also read | India: Hardeep Puri admits E20 petrol may reduce mileage, but dismisses widespread criticism as ‘make-believe narrative’ Why not just sell all three fuels separately? Responding to the growing debate, the Ministry of Petroleum and Natural Gas said the transition to E20 was planned after consultations with automobile manufacturers, testing agencies and other stakeholders. The decision, it said, was based on technical checks covering vehicle compatibility, engine performance, emissions, and fuel efficiency. According to the ministry, a choice is where the problem begins. It noted that India has more than one lakh retail fuel outlets, backed by a vast chain of refineries, terminals, depots and pipelines. The Ministry insisted that running separate supply lines for normal petrol, E10 and E20 across that network would sharply increase costs, complicate storage and inventory management, and reduce operational efficiency. The ministry also pushed back against comparisons with premium petrol. Those products, it said, are niche fuels sold in limited quantities with special additives. They do not require the kind of separate nationwide supply chain that different petrol blends would. https://www.wionews.com/videos/india-s-e20-fuel-policy-under-supreme-court-scanner-1782888129529/embed But what about older vehicles? Concerns have also grown among owners of older cars and two-wheelers that were originally marked as E10-compatible, not E20-compatible. On that point, the ministry said vehicle manufacturers were involved in the consultation process before the higher ethanol blend was introduced. It argued that if the companies had not been satisfied with the results of testing, they would not have supported the rollout or continued to honour warranties. "Had automobile manufacturers not been fully satisfied with the results, they would never have stood behind the product or honoured vehicle warranties," the ministry said. It added that "virtually every manufacturer today" is now honouring warranties for vehicles, old and new, because they were part of the consultation. Also read | When will petrol and diesel get cheaper in India? Modi government's petroleum minister Hardeep Puri drops BIG HINT What has field experience shown? The ministry cited data from the ground to support its case. It said Maruti Suzuki serviced 2.84 crore vehicles in FY 2025-26, including 1.5 crore older vehicles not originally certified for E20, without reporting major E20-related problems such as corrosion, abnormal wear or component damage. Hero MotoCorp, it added, has reported similar experience. The ministry acknowledged that some vehicles may see a 3 to 5 per cent drop in fuel economy with E20. But it said mileage is only one part of the picture. According to the ministry, E20 also offers higher octane, better combustion, smoother acceleration, cleaner engine operation and lower lifecycle carbon emissions. Customers, however, continue to protest the forced implementation. On Social media, countless videos by Indians continue to question and slam the move to E20, with many presenting proof of how the ethanol-blended fuel has damaged their expensive vehicles.

Why can't Indian motorists simply choose between normal petrol, E10 and E20 at fuel stations? As criticism of ethanol-blended fuel grows, the Centre has finally explained why consumers aren't being given that choice. Scroll down to find out what the government said.

Why are Indians being forced to buy E20 petrol? Government finally answers | WION Decodes

The not-so-subtle “AI war” over export controls has taken a new twist, with reports that American AI firms such as OpenAI and Google have been selling their models to Chinese groups blacklisted by the Pentagon over China-related national security concerns. According to a report in the Financial Times, such transactions are taking place with Chinese firms including Alibaba, Tencent and Baidu through their subsidiaries in Singapore. Has the US lost the AI control race before it has even begun?<h2>OpenAI and Google admit to selling advanced AI services to Chinese firms blacklisted by the Pentagon</h2>Chinese technology groups Alibaba, Baidu and Tencent were recently included on the Pentagon’s 1260H list, which identifies companies alleged to have links with China’s military establishment. However, according to the FT report, both OpenAI and Google confirmed that they supplied advanced AI services to Singapore-based subsidiaries of these companies.Singapore-incorporated entities can legally contract with American AI providers even when their parent companies are blacklisted. This makes it difficult to ensure that AI models face the same level of export controls as those already imposed on advanced semiconductors.Singapore’s position as a regional technology hub allows multinational companies to operate under Singaporean law while serving customers across Asia. This has made the city-state an important gateway for AI services and an increasingly significant focus for US regulators.Also read: <a href="https://www.wionews.com/world/anthropic-vs-pentagon-judge-blocks-designation-of-ai-firm-as-supply-chain-risk-it-s-1-0-for-now-1774592991787">Anthropic vs Pentagon: Judge blocks designation of AI firm as ‘supply chain risk’. It's 1–0, for now</a><h2>US export controls restrict advanced AI services to mainland China, but are rules circumvented?</h2>Frontier AI is increasingly being viewed as a national security asset rather than just a commercial technology. This is why the US restricts access to advanced AI services from mainland China. But that does not broadly prohibit overseas subsidiaries of Chinese companies from purchasing US AI models.&nbsp;Citing OpenAI, the FT reported that the company “blocks direct access to its models from China” but allows some Chinese-owned companies to use its services in jurisdictions “where safeguards can be enforced.” Google said its AI services are available in markets including Singapore and Hong Kong, subject to its usage policies. However, it acknowledged that “geographical restrictions alone are insufficient” to prevent sophisticated users from circumventing controls.&nbsp;Also read: <a href="https://www.wionews.com/world/us-anthropic-fable-5-mythos-5-jailbreaking-national-security-1781335223909">US locks down Anthropic's most powerful AI after alarming jailbreak warning</a><h2>OpenAI blocks API access for Alibaba-affiliated users</h2>The FT report came even as OpenAI said it suspended API access for Alibaba-affiliated users last month after detecting suspected “distillation”, an activity through which developers use outputs from advanced AI models to improve competing systems.OpenAI said it reported the suspected activity to the US government.&nbsp;<a href="https://www.wionews.com/videos/us-china-tech-tensions-redraw-supply-chains-the-world-scrambles-between-us-china-1783268807974/embed">https://www.wionews.com/videos/us-china-tech-tensions-redraw-supply-chains-the-world-scrambles-between-us-china-1783268807974/embed</a><h2>Anthropic takes a stricter approach</h2>Anthropic has taken a much stricter approach, banning China-headquartered companies and all foreign subsidiaries they own from accessing its most advanced AI models. The company has previously accused Chinese AI labs, including DeepSeek, Moonshot and MiniMax, of attempting model distillation. In Congressional testimony in June, Anthropic alleged that Alibaba used “tens of thousands of fraudulent accounts” to generate more than 28 million exchanges with its Claude models in a distillation operation.<h2>US-China technology rivalry extends from AI hardware to software</h2>Since 2022, the US has tightened restrictions on exports of advanced AI chips, particularly those made by Nvidia, while expanding blacklists covering Chinese technology companies. The Biden administration introduced sweeping semiconductor controls, while the Trump administration continued to tighten restrictions on advanced AI technologies, arguing that these capabilities could strengthen China’s military and intelligence capabilities.In response, China tightened export controls on strategic minerals such as gallium, germanium and rare earth elements, which are critical for advanced technology manufacturing.Chinese AI companies, including DeepSeek, Alibaba, Baidu and Tencent, have accelerated the development of competitive large language models (LLMs) to reduce dependence on US technology. The Chinese government has intensified investment in domestic AI models and semiconductor development.&nbsp;

OpenAI and Google’s AI services are being sold to Chinese firms blacklisted by Pentagon, using the Singapore subsidiary route. AI export controls are being challenged this way as the US-China technology rivalry shifts from chips to frontier AI models.

The not-so-subtle “AI war” over export controls has taken a new twist, with reports that American AI firms such as OpenAI and Google have been selling their models to Chinese groups blacklisted by the Pentagon over China-related national security concerns. According to a report in the Financial Times, such transactions are taking place with Chinese firms including Alibaba, Tencent and Baidu through their subsidiaries in Singapore. Has the US lost the AI control race before it has even begun? OpenAI and Google admit to selling advanced AI services to Chinese firms blacklisted by the Pentagon Chinese technology groups Alibaba, Baidu and Tencent were recently included on the Pentagon’s 1260H list, which identifies companies alleged to have links with China’s military establishment. However, according to the FT report, both OpenAI and Google confirmed that they supplied advanced AI services to Singapore-based subsidiaries of these companies. Singapore-incorporated entities can legally contract with American AI providers even when their parent companies are blacklisted. This makes it difficult to ensure that AI models face the same level of export controls as those already imposed on advanced semiconductors. Singapore’s position as a regional technology hub allows multinational companies to operate under Singaporean law while serving customers across Asia. This has made the city-state an important gateway for AI services and an increasingly significant focus for US regulators. Also read: Anthropic vs Pentagon: Judge blocks designation of AI firm as ‘supply chain risk’. It's 1–0, for now US export controls restrict advanced AI services to mainland China, but are rules circumvented? Frontier AI is increasingly being viewed as a national security asset rather than just a commercial technology. This is why the US restricts access to advanced AI services from mainland China. But that does not broadly prohibit overseas subsidiaries of Chinese companies from purchasing US AI models. Citing OpenAI, the FT reported that the company “blocks direct access to its models from China” but allows some Chinese-owned companies to use its services in jurisdictions “where safeguards can be enforced.” Google said its AI services are available in markets including Singapore and Hong Kong, subject to its usage policies. However, it acknowledged that “geographical restrictions alone are insufficient” to prevent sophisticated users from circumventing controls. Also read: US locks down Anthropic's most powerful AI after alarming jailbreak warning OpenAI blocks API access for Alibaba-affiliated users The FT report came even as OpenAI said it suspended API access for Alibaba-affiliated users last month after detecting suspected “distillation”, an activity through which developers use outputs from advanced AI models to improve competing systems. OpenAI said it reported the suspected activity to the US government. https://www.wionews.com/videos/us-china-tech-tensions-redraw-supply-chains-the-world-scrambles-between-us-china-1783268807974/embed Anthropic takes a stricter approach Anthropic has taken a much stricter approach, banning China-headquartered companies and all foreign subsidiaries they own from accessing its most advanced AI models. The company has previously accused Chinese AI labs, including DeepSeek, Moonshot and MiniMax, of attempting model distillation. In Congressional testimony in June, Anthropic alleged that Alibaba used “tens of thousands of fraudulent accounts” to generate more than 28 million exchanges with its Claude models in a distillation operation. US-China technology rivalry extends from AI hardware to software Since 2022, the US has tightened restrictions on exports of advanced AI chips, particularly those made by Nvidia, while expanding blacklists covering Chinese technology companies. The Biden administration introduced sweeping semiconductor controls, while the Trump administration continued to tighten restrictions on advanced AI technologies, arguing that these capabilities could strengthen China’s military and intelligence capabilities. In response, China tightened export controls on strategic minerals such as gallium, germanium and rare earth elements, which are critical for advanced technology manufacturing. Chinese AI companies, including DeepSeek, Alibaba, Baidu and Tencent, have accelerated the development of competitive large language models (LLMs) to reduce dependence on US technology. The Chinese government has intensified investment in domestic AI models and semiconductor development.

OpenAI and Google’s AI services are being sold to Chinese firms blacklisted by Pentagon, using the Singapore subsidiary route. AI export controls are being challenged this way as the US-China technology rivalry shifts from chips to frontier AI models.

OpenAI, Google are selling AI to Chinese firms blacklisted by Pentagon, says report: The battleground of AI export controls

Fidji Simo announced on Thursday (Jul 9) that she was stepping down from her full-time role at OpenAI as CEO of Artificial General Intelligence (AGI) Deployment due to health issues, transitioning to a part-time adviser role. Simo has postural orthostatic tachycardia syndrome (POTS), a neuroimmune condition she has lived with for about seven years after being diagnosed around 2019. She has described experiencing severe flare-ups requiring ongoing treatment and management. Who is Fidji Simo, what is POTS, and how did her diagnosis make her an advocate of AI for tackling such rare diseases?<h2>About Fidji Simo, who is exiting as OpenAI AGI CEO</h2>Fidji Simo, born on 5 October 1985, is a French-American business executive. She grew up in Sète, a small fishing town in southern France, and was the first in her family to graduate high school. She later earned a Master of Science in Management from HEC Paris and spent her final year at the UCLA Anderson School of Management.Simo joined Facebook- now Meta Platforms- &nbsp;in 2011, eventually becoming head of the Facebook app and a key aide of founder-CEO Mark Zuckerberg. From 2021 to 2025, she served as CEO of grocery delivery company Instacart. She joined OpenAI's board in March 2024 and was appointed the company's first CEO of Applications in May 2025, later retitled CEO of AGI Deployment. Reporting to OpenAI CEO Sam Altman, she oversaw product, engineering, operations and business teams. She has also served on the boards of Shopify and Cirque du Soleil, among others.Also read: <a href="https://www.wionews.com/entertainment/samantha-ruth-prabhu-opens-up-about-health-struggles-amid-myositis-diagnosis-691838">Samantha Ruth Prabhu opens up about health struggles amid Myositis diagnosis</a><h2>What is postural orthostatic tachycardia syndrome (POTS) which Fidgi Simo is suffering from?</h2>Postural orthostatic tachycardia syndrome or POTS is a disorder of the autonomic nervous system that affects heart rate, blood circulation and other involuntary body functions. It is marked by an unusually rapid increase in heart rate when standing. Common symptoms include dizziness, light-headedness, fatigue, fainting, chest pain, nausea, heart palpitations and difficulty standing for long periods. POTS often overlaps with conditions such as myalgic encephalomyelitis or chronic fatigue syndrome (CFS), migraines and Long COVID. Around 80 per cent of diagnosed cases occur in women, and the condition is often underdiagnosed.Simo has said she consulted nearly 40 specialists before receiving a diagnosis, highlighting the difficulties many patients face in obtaining appropriate care.Also read: <a href="https://www.wionews.com/entertainment/hollywood/the-boys-actress-erin-moriarty-reveals-graves-disease-diagnosis-go-get-checked-1749954958809">The Boys actress Erin Moriarty reveals Graves disease diagnosis: Go get checked...'</a><h2>How Fidgi Simo managed POTS while on a high-flying career</h2>Simo has spoken publicly about living with POTS to raise awareness and reduce stigma around chronic illnesses. She managed the condition through medical treatment and lifestyle adjustments, including exercise, sleep, nutrition and avoiding known triggers, while continuing to lead major technology companies. However, a severe flare-up in early 2026 led to medical leave in April, and her recovery took longer than expected, prompting her to step down from her full-time position.<a href="https://www.wionews.com/videos/on-quest-to-reverse-ageing-bryan-johnson-gets-diagnosed-with-incurable-disease-1783623424119/embed">https://www.wionews.com/videos/on-quest-to-reverse-ageing-bryan-johnson-gets-diagnosed-with-incurable-disease-1783623424119/embed</a>Based on her experiences, Simo also became an advocate for neuroimmune research. She co-founded the Metrodora Institute and ChronicleBio, and serves as president of the non-profit Complex Disorders Alliance (CODA), supporting research, improved diagnosis and better treatments for conditions such as POTS and CFS. She has also highlighted the potential of AI to improve care for patients with complex chronic illnesses.

OpenAI executive Fidji Simo is stepping down from her full-time role as the firm's AGI CEO, after a severe POTS flare-up. Here's who she is, what postural orthostatic tachycardia syndrome is, its symptoms and how she managed it alongside a busy career.

Fidji Simo announced on Thursday (Jul 9) that she was stepping down from her full-time role at OpenAI as CEO of Artificial General Intelligence (AGI) Deployment due to health issues, transitioning to a part-time adviser role. Simo has postural orthostatic tachycardia syndrome (POTS), a neuroimmune condition she has lived with for about seven years after being diagnosed around 2019. She has described experiencing severe flare-ups requiring ongoing treatment and management. Who is Fidji Simo, what is POTS, and how did her diagnosis make her an advocate of AI for tackling such rare diseases? About Fidji Simo, who is exiting as OpenAI AGI CEO Fidji Simo, born on 5 October 1985, is a French-American business executive. She grew up in Sète, a small fishing town in southern France, and was the first in her family to graduate high school. She later earned a Master of Science in Management from HEC Paris and spent her final year at the UCLA Anderson School of Management. Simo joined Facebook- now Meta Platforms- in 2011, eventually becoming head of the Facebook app and a key aide of founder-CEO Mark Zuckerberg. From 2021 to 2025, she served as CEO of grocery delivery company Instacart. She joined OpenAI's board in March 2024 and was appointed the company's first CEO of Applications in May 2025, later retitled CEO of AGI Deployment. Reporting to OpenAI CEO Sam Altman, she oversaw product, engineering, operations and business teams. She has also served on the boards of Shopify and Cirque du Soleil, among others. Also read: Samantha Ruth Prabhu opens up about health struggles amid Myositis diagnosis What is postural orthostatic tachycardia syndrome (POTS) which Fidgi Simo is suffering from? Postural orthostatic tachycardia syndrome or POTS is a disorder of the autonomic nervous system that affects heart rate, blood circulation and other involuntary body functions. It is marked by an unusually rapid increase in heart rate when standing. Common symptoms include dizziness, light-headedness, fatigue, fainting, chest pain, nausea, heart palpitations and difficulty standing for long periods. POTS often overlaps with conditions such as myalgic encephalomyelitis or chronic fatigue syndrome (CFS), migraines and Long COVID. Around 80 per cent of diagnosed cases occur in women, and the condition is often underdiagnosed. Simo has said she consulted nearly 40 specialists before receiving a diagnosis, highlighting the difficulties many patients face in obtaining appropriate care. Also read: The Boys actress Erin Moriarty reveals Graves disease diagnosis: Go get checked...' How Fidgi Simo managed POTS while on a high-flying career Simo has spoken publicly about living with POTS to raise awareness and reduce stigma around chronic illnesses. She managed the condition through medical treatment and lifestyle adjustments, including exercise, sleep, nutrition and avoiding known triggers, while continuing to lead major technology companies. However, a severe flare-up in early 2026 led to medical leave in April, and her recovery took longer than expected, prompting her to step down from her full-time position. https://www.wionews.com/videos/on-quest-to-reverse-ageing-bryan-johnson-gets-diagnosed-with-incurable-disease-1783623424119/embed Based on her experiences, Simo also became an advocate for neuroimmune research. She co-founded the Metrodora Institute and ChronicleBio, and serves as president of the non-profit Complex Disorders Alliance (CODA), supporting research, improved diagnosis and better treatments for conditions such as POTS and CFS. She has also highlighted the potential of AI to improve care for patients with complex chronic illnesses.

OpenAI executive Fidji Simo is stepping down from her full-time role as the firm's AGI CEO, after a severe POTS flare-up. Here's who she is, what postural orthostatic tachycardia syndrome is, its symptoms and how she managed it alongside a busy career.

Fidji Simo to step down as OpenAI's AGI Deployment CEO due to POTS. Know more about the disease, symptoms and how she managed it

India seems to be preparing to draw a hard line on crypto, even as the United States embraces digital assets under Trump 2.0. Government documents reviewed by Reuters show the Reserve Bank of India has doubled down on a policy "leaning towards prohibition". The demand: banks and financial institutions must be completely walled off from crypto. That means no holding, no trading, and absolutely no exposure. And the ban is not just foreign stablecoins either.&nbsp;<a href="https://www.wionews.com/videos/oil-rupee-woes-fuel-crypto-crackdown-fear-monsoon-session-to-decide-crypto-s-fate-1783666609112/embed">https://www.wionews.com/videos/oil-rupee-woes-fuel-crypto-crackdown-fear-monsoon-session-to-decide-crypto-s-fate-1783666609112/embed</a>&nbsp;&nbsp;RBI deputy governor Rohit Jain has told parliament's finance committee that even rupee-pegged stablecoins are a threat. He warned they could erode the government's currency-issuance revenue and trigger liquidity stress in a crisis. The tax department is backing this with hard evidence. Fewer than 25 per cent of the 645,000 Indians who traded crypto in fiscal year 2023 declared it on their returns.&nbsp;The Enforcement Directorate has already flagged over ₹2,500 crore in unauthorised cross-border crypto transfers and raided five payment firms in Bengaluru over an alleged $265-million scheme. From April this year, non-reporting by exchanges now draws daily penalties. Yet here's India's contradiction: Nearly 39 million investors hold roughly $2.1 billion in digital assets. That marks one of the world's largest crypto user bases. And there's still no law banning or regulating them.&nbsp;Also read: <a href="https://www.wionews.com/world/trump-crypto-earnings-bessent-defends-no-conflict-trump-accounts-1783071799232">Bessent defends Trump's $1.4 billion crypto earnings, rejects conflict claims</a>&nbsp;Crypto has existed in legal limbo since courts struck down the RBI's 2018 banking ban, and a proposed 2021 ban bill never even reached parliament. A government discussion paper has now been shelved five times, with the RBI's opposition cited as the main reason. The backdrop matters too.&nbsp;Iran tensions have pushed oil prices and the rupee to record lows, and New Delhi fears crypto could accelerate capital flight through unregulated channels. The contrast with Washington's and Islamabad's pro-crypto pivot couldn't be starker. A parliamentary report is due this monsoon session, and that's when we'll know if India's grey zone on crypto finally ends.

As global markets accelerate toward institutional crypto adoption, India has dramatically tightened its domestic enforcement architecture, using Budget 2026.

India seems to be preparing to draw a hard line on crypto, even as the United States embraces digital assets under Trump 2.0. Government documents reviewed by Reuters show the Reserve Bank of India has doubled down on a policy "leaning towards prohibition". The demand: banks and financial institutions must be completely walled off from crypto. That means no holding, no trading, and absolutely no exposure. And the ban is not just foreign stablecoins either. https://www.wionews.com/videos/oil-rupee-woes-fuel-crypto-crackdown-fear-monsoon-session-to-decide-crypto-s-fate-1783666609112/embed RBI deputy governor Rohit Jain has told parliament's finance committee that even rupee-pegged stablecoins are a threat. He warned they could erode the government's currency-issuance revenue and trigger liquidity stress in a crisis. The tax department is backing this with hard evidence. Fewer than 25 per cent of the 645,000 Indians who traded crypto in fiscal year 2023 declared it on their returns. The Enforcement Directorate has already flagged over ₹2,500 crore in unauthorised cross-border crypto transfers and raided five payment firms in Bengaluru over an alleged $265-million scheme. From April this year, non-reporting by exchanges now draws daily penalties. Yet here's India's contradiction: Nearly 39 million investors hold roughly $2.1 billion in digital assets. That marks one of the world's largest crypto user bases. And there's still no law banning or regulating them. Also read: Bessent defends Trump's $1.4 billion crypto earnings, rejects conflict claims Crypto has existed in legal limbo since courts struck down the RBI's 2018 banking ban, and a proposed 2021 ban bill never even reached parliament. A government discussion paper has now been shelved five times, with the RBI's opposition cited as the main reason. The backdrop matters too. Iran tensions have pushed oil prices and the rupee to record lows, and New Delhi fears crypto could accelerate capital flight through unregulated channels. The contrast with Washington's and Islamabad's pro-crypto pivot couldn't be starker. A parliamentary report is due this monsoon session, and that's when we'll know if India's grey zone on crypto finally ends.

As global markets accelerate toward institutional crypto adoption, India has dramatically tightened its domestic enforcement architecture, using Budget 2026.

India crypto regulation: New 2026 tax rules and compliance scrutiny tighten reins on investors

The Reserve Bank of India has issued a fresh reminder on Thursday: if a ₹2,000 note is still sitting in your drawer, it hasn't turned into paper. It remains legal tender, but it's now a relic of a currency experiment that's almost over. The RBI reports nearly 98.5 per cent of ₹2,000 banknotes have been returned since the withdrawal was announced on May 19th, 2023. The total value of these notes has declined from ₹3.56 lakh crore, or over $3.7 billion, to just ₹5,451 crore, or about $572 million, as of April end this year. That means barely 1.5 per cent of the original stock is still floating around with the public, a number shrinking every quarter. This is not demonetisation 2.0. Unlike 2016, when ₹500 and ₹1,000 notes were rendered worthless overnight. The RBI's 2023 move was calculated, low-drama currency management. It did not have any midnight deadlines or queues outside ATMs. The note stays valid indefinitely, with no cutoff date set by the RBI. But the practical channels have narrowed. Commercial banks stopped taking these notes back in October 2023. Currently, only two routes exist. The 19 RBI issue offices scattered across the country, or India Post. One needs to mail the note from any post office to the RBI with account details, and the money lands in your bank account. The bigger signal here is about India’s cash economy itself. High-value notes are being systematically retired in favour of digital rails. As a result, UPI transaction volumes have exploded over the same period the pink note has been vanishing. The RBI isn't panicking about the residual ₹5,451 crore; it is just simply mopping up the balance. For anyone still holding one, there's no legal risk or no expiry clock ticking. But every month of delay means one more trip to a shrinking list of RBI offices, or a slower postal route, to get your money back.

The RBI confirmed 98.5% of ₹2,000 notes have been returned, leaving just ₹5,451 crore in circulation. They remain legal tender and can still be exchanged indefinitely via 19 RBI offices or India Post.

The Reserve Bank of India has issued a fresh reminder on Thursday: if a ₹2,000 note is still sitting in your drawer, it hasn't turned into paper. It remains legal tender, but it's now a relic of a currency experiment that's almost over. The RBI reports nearly 98.5 per cent of ₹2,000 banknotes have been returned since the withdrawal was announced on May 19th, 2023. The total value of these notes has declined from ₹3.56 lakh crore, or over $3.7 billion, to just ₹5,451 crore, or about $572 million, as of April end this year. That means barely 1.5 per cent of the original stock is still floating around with the public, a number shrinking every quarter. This is not demonetisation 2.0. Unlike 2016, when ₹500 and ₹1,000 notes were rendered worthless overnight. The RBI's 2023 move was calculated, low-drama currency management. It did not have any midnight deadlines or queues outside ATMs. The note stays valid indefinitely, with no cutoff date set by the RBI. But the practical channels have narrowed. Commercial banks stopped taking these notes back in October 2023. Currently, only two routes exist. The 19 RBI issue offices scattered across the country, or India Post. One needs to mail the note from any post office to the RBI with account details, and the money lands in your bank account. The bigger signal here is about India’s cash economy itself. High-value notes are being systematically retired in favour of digital rails. As a result, UPI transaction volumes have exploded over the same period the pink note has been vanishing. The RBI isn't panicking about the residual ₹5,451 crore; it is just simply mopping up the balance. For anyone still holding one, there's no legal risk or no expiry clock ticking. But every month of delay means one more trip to a shrinking list of RBI offices, or a slower postal route, to get your money back.

The RBI confirmed 98.5% of ₹2,000 notes have been returned, leaving just ₹5,451 crore in circulation. They remain legal tender and can still be exchanged indefinitely via 19 RBI offices or India Post.

₹2,000: The last of the pink notes face quiet exit as RBI confirms 98.5% of currency returned

India’s relationship with money is undergoing a quiet cultural shift. For a generation raised on instant commerce, digital payments and app-based lifestyles, credit cards are no longer a financial milestone; they’re becoming an early financial companion. A new Trans-Union Cibil report suggests Gen Z is entering the formal credit system much earlier than millennials did, and they’re not just getting cards, they’re using them more actively. Nearly 28 per cent of Gen Z cardholders spend ₹25,000 or more within the first three months of getting a new credit card, compared with 20 per cent of millennials, signalling a greater willingness among younger consumers to use credit from the outset.Also read | <a href="https://www.wionews.com/india-news/from-oil-markets-to-dinner-plates-how-west-asia-tensions-are-making-indian-meals-costlier-1783656303954">From oil markets to dinner plates: How West Asia tensions are making Indian meals costlier</a> The report also points to a growing multi-card culture. One in every two new young cardholders opens another credit card within 12 months of getting their first, suggesting that access to credit is becoming an integral part of personal finance for India’s youngest borrowers. The trend is unfolding against the backdrop of a rapidly expanding credit card market. Outstanding credit card balances have surged from around ₹0.4 lakh crore to ₹3.1 lakh crore over the past decade, while the number of credit card users has jumped from 1.4 crore to 5.2 crore.Also read | <a href="https://www.wionews.com/india-news/india-income-tax-return-2026-filing-itr-this-year-here-s-how-ai-could-save-or-sink-your-return-1783653826947">Filing ITR this year? Here's how AI could save, or sink, your return</a> For banks, that's evidence of deeper credit penetration. For businesses, it reflects a consumer economy that is increasingly comfortable with spending today and paying later. But every swipe comes with a caveat. As younger Indians embrace unsecured credit earlier and more frequently, repayment discipline is becoming just as important as access to credit. The report flags rising early-stage delinquencies among younger borrowers, highlighting that while India’s credit culture is evolving rapidly, responsible borrowing will need to evolve just as fast.

India's youngest consumers are entering the credit system earlier than ever, opening multiple credit cards and spending more aggressively than millennials. Here's what the latest CIBIL report reveals about Gen Z's changing relationship with money.

India’s relationship with money is undergoing a quiet cultural shift. For a generation raised on instant commerce, digital payments and app-based lifestyles, credit cards are no longer a financial milestone; they’re becoming an early financial companion. A new Trans-Union Cibil report suggests Gen Z is entering the formal credit system much earlier than millennials did, and they’re not just getting cards, they’re using them more actively. Nearly 28 per cent of Gen Z cardholders spend ₹25,000 or more within the first three months of getting a new credit card, compared with 20 per cent of millennials, signalling a greater willingness among younger consumers to use credit from the outset. Also read | From oil markets to dinner plates: How West Asia tensions are making Indian meals costlier The report also points to a growing multi-card culture. One in every two new young cardholders opens another credit card within 12 months of getting their first, suggesting that access to credit is becoming an integral part of personal finance for India’s youngest borrowers. The trend is unfolding against the backdrop of a rapidly expanding credit card market. Outstanding credit card balances have surged from around ₹0.4 lakh crore to ₹3.1 lakh crore over the past decade, while the number of credit card users has jumped from 1.4 crore to 5.2 crore. Also read | Filing ITR this year? Here's how AI could save, or sink, your return For banks, that's evidence of deeper credit penetration. For businesses, it reflects a consumer economy that is increasingly comfortable with spending today and paying later. But every swipe comes with a caveat. As younger Indians embrace unsecured credit earlier and more frequently, repayment discipline is becoming just as important as access to credit. The report flags rising early-stage delinquencies among younger borrowers, highlighting that while India’s credit culture is evolving rapidly, responsible borrowing will need to evolve just as fast.

India's youngest consumers are entering the credit system earlier than ever, opening multiple credit cards and spending more aggressively than millennials. Here's what the latest CIBIL report reveals about Gen Z's changing relationship with money.

Swipe right on credit: India's Gen Z is embracing credit cards faster than millennials, shows CIBIL report

India's tax filing season for the 2026-27 fiscal year is live; the deadlines run from July 31st to November 30th, and this year, the story isn't the paperwork. It's the algorithms on both sides of the transaction. The income tax department itself now runs an AI-based risk assessment unit that flags high-risk returns for detailed scrutiny. This changes the calculus entirely. It's no longer just "Did I file correctly?" but now it's "Does my filing match what the department's own AI expects to see?" That expectation is built on two documents that most taxpayers barely glance at. Here's all you need to know.Also read | <a href="https://www.wionews.com/business-economy/too-big-to-fail-wall-street-becomes-america-s-safety-net-1783652794861">Too political to fail? The real reason America can't afford another Wall Street crash</a><h2>Form 26AS and more</h2>Form 26AS, or the annual consolidated tax statement, tracks tax deducted at source, or TDS, and advance tax, while the newer annual information statement captures dividends, interest, mutual fund trades, stock transactions and large cash deposits. Mismatches between what you report and what these statements show are precisely what trip the department's scrutiny filters. This is where generic AI tools fall short and specialised ones earn their keep.<a href="https://www.wionews.com/videos/india-s-tax-ai-divide-rich-vs-rest-1783577548547/embed">https://www.wionews.com/videos/india-s-tax-ai-divide-rich-vs-rest-1783577548547/embed</a>Tax-focused AI now reconciles AIs' and 26A's data to catch discrepancies before filing, cutting preparation time from days to hours through automated extraction and cross-checking. Vendors are racing to build this in. But there's a class divide here worth flagging.&nbsp;The heaviest AI adoption is happening among firms serving corporate and high-net-worth clients. The average salaried taxpayer with a simple return gets little extra benefit, beyond what the department's own e-filing portal, with its pre-filled data, already provides.Also read | <a href="https://www.wionews.com/world/imf-cuts-global-growth-forecast-for-second-time-in-2026-amid-west-asia-tensions-where-does-india-stand-1783527551491">IMF cuts global growth forecast for second time in 2026; where does India stand?</a> The bottom line: AI can genuinely reduce errors and audit risk. But only if it's purpose-built for Indian tax law and reconciliation, not a general chatbot guessing at deductions. Verify every AI-assisted number against your Form 16, 26AS and AIs before you hit submit. The department's algorithm is watching. Your AI should be working for you and not against you.

India's Income Tax Department is using AI to flag high-risk returns, making tax filing less about paperwork and more about data matching. Here's how Form 26AS, the AIS and AI-powered tax tools could determine whether your return passes scrutiny or lands under the scanner.

India's tax filing season for the 2026-27 fiscal year is live; the deadlines run from July 31st to November 30th, and this year, the story isn't the paperwork. It's the algorithms on both sides of the transaction. The income tax department itself now runs an AI-based risk assessment unit that flags high-risk returns for detailed scrutiny. This changes the calculus entirely. It's no longer just "Did I file correctly?" but now it's "Does my filing match what the department's own AI expects to see?" That expectation is built on two documents that most taxpayers barely glance at. Here's all you need to know. Also read | Too political to fail? The real reason America can't afford another Wall Street crash Form 26AS and more Form 26AS, or the annual consolidated tax statement, tracks tax deducted at source, or TDS, and advance tax, while the newer annual information statement captures dividends, interest, mutual fund trades, stock transactions and large cash deposits. Mismatches between what you report and what these statements show are precisely what trip the department's scrutiny filters. This is where generic AI tools fall short and specialised ones earn their keep. https://www.wionews.com/videos/india-s-tax-ai-divide-rich-vs-rest-1783577548547/embed Tax-focused AI now reconciles AIs' and 26A's data to catch discrepancies before filing, cutting preparation time from days to hours through automated extraction and cross-checking. Vendors are racing to build this in. But there's a class divide here worth flagging. The heaviest AI adoption is happening among firms serving corporate and high-net-worth clients. The average salaried taxpayer with a simple return gets little extra benefit, beyond what the department's own e-filing portal, with its pre-filled data, already provides. Also read | IMF cuts global growth forecast for second time in 2026; where does India stand? The bottom line: AI can genuinely reduce errors and audit risk. But only if it's purpose-built for Indian tax law and reconciliation, not a general chatbot guessing at deductions. Verify every AI-assisted number against your Form 16, 26AS and AIs before you hit submit. The department's algorithm is watching. Your AI should be working for you and not against you.

India's Income Tax Department is using AI to flag high-risk returns, making tax filing less about paperwork and more about data matching. Here's how Form 26AS, the AIS and AI-powered tax tools could determine whether your return passes scrutiny or lands under the scanner.

India Income Tax Return 2026: Filing ITR this year? Here's how AI could save, or sink, your return

The American stock market isn't just an investment vehicle anymore; it's becoming the country's de facto pension system. But how does that change everything in Washington's response to the next equity market crash? Let's decode. Gallup's April survey found 58 per cent of US adults own stock directly or through funds, and the wealthiest one per cent alone hold over 50 per cent of all corporate equities. That's not a niche investor class anymore. That's a voting bloc.Also read | <a href="https://www.wionews.com/india-news/what-impacts-the-rate-of-interest-for-personal-loan-across-different-lenders-1783604432936">What impacts the rate of interest for personal loan across different lenders</a> Now add Trump accounts to the mix; more than 500,000 children's accounts received their first $1,000 government deposit when trading launched on July 4th, with 6 million families already signed up. Wells Fargo estimates these accounts could funnel nearly $20 billion into markets this year alone. That is a permanent new buyer base, layered in from birth.<a href="https://www.wionews.com/videos/wall-street-becomes-america-s-retirement-fund-1783571247149/embed">https://www.wionews.com/videos/wall-street-becomes-america-s-retirement-fund-1783571247149/embed</a><h2>Why does this matter for crisis policy?</h2>Because social security is running out of runway. The retirement trust fund is projected to be depleted by the December quarter of 2032, just six years away. That is likely to trigger an automatic 22 per cent benefit cut if Congress does nothing. As the state safety net frays, the stock market is quietly stepping into its place. Put those two trends together of mass equity ownership plus a wobbling public pension system, and the political cost of a prolonged bear market becomes almost unbearable for any administration. That's the logic behind the theory gaining traction on trading desks.Also read | <a href="https://www.wionews.com/world/oil-prices-jump-by-2-63-as-fresh-us-strikes-on-iran-shake-up-strait-of-hormuz-again-1783471599627">Fresh US-Iran strikes send oil prices soaring. Here's why markets are worried</a> So, the Federal Reserve could eventually buy equity ETFs directly in the next major downturn, following the precedent it set with corporate bond ETFs during the pandemic. Notably, that path has already been carved by Japan and China's central banks. Stock bears keep getting run over. And now we know why.

More than half of Americans now own stocks, Social Security's trust fund is projected to run dry by 2032, and millions of children have begun investing through Trump Accounts. Has Wall Street quietly become America's pension system, making future market bailouts almost inevitable? 

The American stock market isn't just an investment vehicle anymore; it's becoming the country's de facto pension system. But how does that change everything in Washington's response to the next equity market crash? Let's decode. Gallup's April survey found 58 per cent of US adults own stock directly or through funds, and the wealthiest one per cent alone hold over 50 per cent of all corporate equities. That's not a niche investor class anymore. That's a voting bloc. Also read | What impacts the rate of interest for personal loan across different lenders Now add Trump accounts to the mix; more than 500,000 children's accounts received their first $1,000 government deposit when trading launched on July 4th, with 6 million families already signed up. Wells Fargo estimates these accounts could funnel nearly $20 billion into markets this year alone. That is a permanent new buyer base, layered in from birth. https://www.wionews.com/videos/wall-street-becomes-america-s-retirement-fund-1783571247149/embed Why does this matter for crisis policy? Because social security is running out of runway. The retirement trust fund is projected to be depleted by the December quarter of 2032, just six years away. That is likely to trigger an automatic 22 per cent benefit cut if Congress does nothing. As the state safety net frays, the stock market is quietly stepping into its place. Put those two trends together of mass equity ownership plus a wobbling public pension system, and the political cost of a prolonged bear market becomes almost unbearable for any administration. That's the logic behind the theory gaining traction on trading desks. Also read | Fresh US-Iran strikes send oil prices soaring. Here's why markets are worried So, the Federal Reserve could eventually buy equity ETFs directly in the next major downturn, following the precedent it set with corporate bond ETFs during the pandemic. Notably, that path has already been carved by Japan and China's central banks. Stock bears keep getting run over. And now we know why.

More than half of Americans now own stocks, Social Security's trust fund is projected to run dry by 2032, and millions of children have begun investing through Trump Accounts. Has Wall Street quietly become America's pension system, making future market bailouts almost inevitable?&nbsp;

Too political to fail? The real reason America can't afford another Wall Street crash

As a borrower, you may have noticed that the numbers don't match when you've looked at loan quotes from two different banks or lending apps. Personal loan products come with a wide range of interest rates, and the key to negotiating this deal and making the smart choice is to understand why.<h2>Your credit score is the biggest factor</h2>Lenders use your credit score as a quick snapshot of how reliable you have been with past borrowing. A score above 650 typically unlocks the best rates a lender offers, while anything below 650 often results in higher interest, since the lender is taking on more perceived risk by lending to you.<h2>Income and employment type</h2>Salaried employees working at well-established companies are often viewed as lower risk compared to self-employed individuals or those at smaller, less stable organisations. This perception directly affects the rate you are offered, even if your repayment capacity is otherwise strong.<h2>Existing relationship with the lender</h2>If you already have a savings account, fixed deposit, or previous loan history with a particular bank, they may offer you a preferential rate. This is because they already have visibility into your financial behaviour and consider you a known, lower-risk customer.<h2>Loan amount and tenure</h2>Interestingly, the amount you borrow, the rate of interest for a personal loan, and how long you take to repay it can all influence your overall borrowing cost. Shorter tenures sometimes come with slightly lower rates because the lender's exposure to risk over time is reduced, although this varies across institutions.<h2>Market and policy factors</h2>Broader economic conditions, including the central bank's policy rate, inflation trends, and overall liquidity in the banking system, influence how lenders price their loans. When the cost of funds for banks rises, this often gets passed on to borrowers through higher interest rates.<h2>How to apply online personal loan options wisely</h2>When you <a href="https://www.bajajfinserv.in/personal-loan">apply online for personal loan</a> options across multiple platforms, you get a clearer picture of where the most competitive rates lie. Many comparison platforms allow you to check estimated rates without affecting your credit score, which is a useful first step before committing to a formal application.<h2>Negotiating a better rate</h2>Few people realise that interest rates are not always set in stone. If you have a strong credit profile and a stable income, you can sometimes negotiate with your lender, especially if you have a competing offer from another institution to show as leverage.<h2>The role of processing fees and hidden costs</h2>A lower headline interest rate is not always the cheapest option once you factor in processing fees, which can range from 1 to 3 per cent of the loan amount. Always calculate the effective cost, not just the advertised rate, before deciding.<h2>A practical example</h2>On a loan of Rs. 5 lakh, even a one per cent difference in <a href="https://www.bajajfinserv.in/personal-loan-processing-fees-and-interest-rates">personal loan interest rate</a> can change your total repayment by Rs. 15,000 to Rs. 25,000 over a three to five year tenure, depending on how the loan is structured. This is precisely why comparison shopping matters so much.<h2>Final thoughts</h2>A mix of personal factors and broader market conditions shapes interest rates. By understanding what drives these numbers, you put yourself in a stronger position to compare lenders intelligently and secure terms that genuinely work in your favour rather than simply accepting the first offer that comes your way.&nbsp;(Disclaimer: This article is from the Brand Desk. User discretion is advised.)

Understanding the personal factors and market forces that shape personal loan interest rates, from credit score to lender relationships to processing fees, empowers borrowers to compare offers effectively and negotiate better terms instead of accepting the first quote they receive.

As a borrower, you may have noticed that the numbers don't match when you've looked at loan quotes from two different banks or lending apps. Personal loan products come with a wide range of interest rates, and the key to negotiating this deal and making the smart choice is to understand why. Your credit score is the biggest factor Lenders use your credit score as a quick snapshot of how reliable you have been with past borrowing. A score above 650 typically unlocks the best rates a lender offers, while anything below 650 often results in higher interest, since the lender is taking on more perceived risk by lending to you. Income and employment type Salaried employees working at well-established companies are often viewed as lower risk compared to self-employed individuals or those at smaller, less stable organisations. This perception directly affects the rate you are offered, even if your repayment capacity is otherwise strong. Existing relationship with the lender If you already have a savings account, fixed deposit, or previous loan history with a particular bank, they may offer you a preferential rate. This is because they already have visibility into your financial behaviour and consider you a known, lower-risk customer. Loan amount and tenure Interestingly, the amount you borrow, the rate of interest for a personal loan, and how long you take to repay it can all influence your overall borrowing cost. Shorter tenures sometimes come with slightly lower rates because the lender's exposure to risk over time is reduced, although this varies across institutions. Market and policy factors Broader economic conditions, including the central bank's policy rate, inflation trends, and overall liquidity in the banking system, influence how lenders price their loans. When the cost of funds for banks rises, this often gets passed on to borrowers through higher interest rates. How to apply online personal loan options wisely When you apply online for personal loan options across multiple platforms, you get a clearer picture of where the most competitive rates lie. Many comparison platforms allow you to check estimated rates without affecting your credit score, which is a useful first step before committing to a formal application. Negotiating a better rate Few people realise that interest rates are not always set in stone. If you have a strong credit profile and a stable income, you can sometimes negotiate with your lender, especially if you have a competing offer from another institution to show as leverage. The role of processing fees and hidden costs A lower headline interest rate is not always the cheapest option once you factor in processing fees, which can range from 1 to 3 per cent of the loan amount. Always calculate the effective cost, not just the advertised rate, before deciding. A practical example On a loan of Rs. 5 lakh, even a one per cent difference in personal loan interest rate can change your total repayment by Rs. 15,000 to Rs. 25,000 over a three to five year tenure, depending on how the loan is structured. This is precisely why comparison shopping matters so much. Final thoughts A mix of personal factors and broader market conditions shapes interest rates. By understanding what drives these numbers, you put yourself in a stronger position to compare lenders intelligently and secure terms that genuinely work in your favour rather than simply accepting the first offer that comes your way. (Disclaimer: This article is from the Brand Desk. User discretion is advised.)

Understanding the personal factors and market forces that shape personal loan interest rates, from credit score to lender relationships to processing fees, empowers borrowers to compare offers effectively and negotiate better terms instead of accepting the first quote they receive.

What impacts the rate of interest for personal loan across different lenders

Iran-US tensions are rising once again on Thursday (Jul 9), with the last 24 hours seeing attacks and counter-attacks as the Islamabad Memorandum of Understanding (MoU) appears to be unravelling. Iran claimed to have targeted US Patriot air defence systems in Kuwait, a satellite communications antenna in Qatar, and a US Army fuel storage facility in Bahrain using drones and missiles. The funeral ceremonies for late Supreme Leader Ayatollah Ali Khamenei, culminating in his planned burial in Mashhad on Thursday, have been delayed by the renewed fighting. The latest escalation comes after US President Donald Trump declared the truce "over", while Iranian officials accused Washington of violating the MoU.<h2>US launches fresh strikes against Iran, as 14 killed</h2>US Central Command (CENTCOM) conducted a second wave of overnight strikes between late Wednesday and early Thursday near the Strait of Hormuz in response to earlier Iranian attacks on commercial shipping. Explosions were reported in Sirik, Bushehr, Konarak, Chabahar and Bandar Abbas, with around 90 additional Iranian military and transport-related targets reportedly struck, according to the Associated Press. Iran's Health Ministry said 14 people were killed and 78 wounded in US strikes across multiple provinces over the past two days. US officials said the strikes were intended to deter further attacks on international shipping.Also read: <a href="https://www.wionews.com/world/war-clouds-loom-over-iran-once-again-hegseth-cancels-israel-trip-oil-prices-rise-as-trump-says-peace-deal-is-over-1783504754014">War clouds loom over Iran once again? Hegseth cancels Israel trip, oil prices rise as Trump says peace deal is ‘over’</a><h2>Bahrain thwarts Iranian attacks on US military sites</h2>Bahrain's Defence Force reported thwarting Iranian missile and drone attacks on Thursday. Although some reports indicated damage to a residential building near Bahrain International Airport, no fatalities were reported. Air defence sirens sounded as Gulf states intercepted incoming projectiles. Iran also claimed attacks on US military facilities in Kuwait and Qatar.<a href="https://www.wionews.com/videos/us-iran-war-how-war-in-west-asia-hits-your-next-meal-explained-1783577552046/embed">https://www.wionews.com/videos/us-iran-war-how-war-in-west-asia-hits-your-next-meal-explained-1783577552046/embed</a><h2>Khamenei funeral delayed</h2>The burial of slain Supreme Leader Ayatollah Ali Khamenei has been delayed amid the renewed hostilities. His coffin had been travelling through Najaf and Karbala in Iraq as part of a multi-day funeral procession before its planned burial at the Imam Reza shrine in Mashhad in north-eastern Iran. Funeral processions have drawn massive crowds across Iran and Iraq amid strong anti-US sentiment. Khamenei's burial had already been postponed from March because of the war, with the final burial originally scheduled for July 9.<h2>A dangerous escalation</h2>The renewed exchanges follow Iranian attacks on at least three commercial vessels in the Strait of Hormuz. US President Donald Trump said the ceasefire was "over" while attending the NATO summit in Ankara, Turkey. Iranian Parliament Speaker Mohammad Bagher Ghalibaf accused Washington of violating the MoU and warned of further action, while Iranian Foreign Minister Abbas Araghchi said prospects for a lasting agreement would diminish if US military operations continued.&nbsp;Also read: <a href="https://www.wionews.com/world/who-really-benefitted-from-the-iran-war-1783058269342">Who really benefitted from the Iran war?</a>&nbsp;Gulf states, including Bahrain, Kuwait and Qatar, condemned the attacks on their territory and called for restraint. The new tensions are once again putting at risk global shipping through the Strait of Hormuz, oil markets and regional stability. Oil prices have risen sharply, shipping insurance costs are increasing and stock market volatility has continued amid fears of a broader regional conflict, according to international media reports.&nbsp;(Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.)

Fresh strikes and counter-attacks across the Gulf are reported as Iran-US tensions have escalated again. CENTCOM targeted Iranian sites, while Iran claimed attacks on US bases.  Khamenei's funeral has been delayed amid renewed fighting.

Iran-US tensions are rising once again on Thursday (Jul 9), with the last 24 hours seeing attacks and counter-attacks as the Islamabad Memorandum of Understanding (MoU) appears to be unravelling. Iran claimed to have targeted US Patriot air defence systems in Kuwait, a satellite communications antenna in Qatar, and a US Army fuel storage facility in Bahrain using drones and missiles. The funeral ceremonies for late Supreme Leader Ayatollah Ali Khamenei, culminating in his planned burial in Mashhad on Thursday, have been delayed by the renewed fighting. The latest escalation comes after US President Donald Trump declared the truce "over", while Iranian officials accused Washington of violating the MoU. US launches fresh strikes against Iran, as 14 killed US Central Command (CENTCOM) conducted a second wave of overnight strikes between late Wednesday and early Thursday near the Strait of Hormuz in response to earlier Iranian attacks on commercial shipping. Explosions were reported in Sirik, Bushehr, Konarak, Chabahar and Bandar Abbas, with around 90 additional Iranian military and transport-related targets reportedly struck, according to the Associated Press. Iran's Health Ministry said 14 people were killed and 78 wounded in US strikes across multiple provinces over the past two days. US officials said the strikes were intended to deter further attacks on international shipping. Also read: War clouds loom over Iran once again? Hegseth cancels Israel trip, oil prices rise as Trump says peace deal is ‘over’ Bahrain thwarts Iranian attacks on US military sites Bahrain's Defence Force reported thwarting Iranian missile and drone attacks on Thursday. Although some reports indicated damage to a residential building near Bahrain International Airport, no fatalities were reported. Air defence sirens sounded as Gulf states intercepted incoming projectiles. Iran also claimed attacks on US military facilities in Kuwait and Qatar. https://www.wionews.com/videos/us-iran-war-how-war-in-west-asia-hits-your-next-meal-explained-1783577552046/embed Khamenei funeral delayed The burial of slain Supreme Leader Ayatollah Ali Khamenei has been delayed amid the renewed hostilities. His coffin had been travelling through Najaf and Karbala in Iraq as part of a multi-day funeral procession before its planned burial at the Imam Reza shrine in Mashhad in north-eastern Iran. Funeral processions have drawn massive crowds across Iran and Iraq amid strong anti-US sentiment. Khamenei's burial had already been postponed from March because of the war, with the final burial originally scheduled for July 9. A dangerous escalation The renewed exchanges follow Iranian attacks on at least three commercial vessels in the Strait of Hormuz. US President Donald Trump said the ceasefire was "over" while attending the NATO summit in Ankara, Turkey. Iranian Parliament Speaker Mohammad Bagher Ghalibaf accused Washington of violating the MoU and warned of further action, while Iranian Foreign Minister Abbas Araghchi said prospects for a lasting agreement would diminish if US military operations continued. Also read: Who really benefitted from the Iran war? Gulf states, including Bahrain, Kuwait and Qatar, condemned the attacks on their territory and called for restraint. The new tensions are once again putting at risk global shipping through the Strait of Hormuz, oil markets and regional stability. Oil prices have risen sharply, shipping insurance costs are increasing and stock market volatility has continued amid fears of a broader regional conflict, according to international media reports. (Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.)

Fresh strikes and counter-attacks across the Gulf are reported as Iran-US tensions have escalated again. CENTCOM targeted Iranian sites, while Iran claimed attacks on US bases. &nbsp;Khamenei's funeral has been delayed amid renewed fighting.

Iran targets US Patriot missile defence systems in Kuwait, US army fuel storage in Bahrain; Khamenei funeral delayed as US strikes kill 14 Iranians

For nearly six years, Indian agencies have chased Sourabh Chandrakar across countries. Now, with the alleged mastermind of the Mahadev betting app detained in Oman, authorities finally have a chance to bring one of India's most wanted economic fugitives back home.But the bigger story isn't where Chandrakar was caught. It is how two men from Chhattisgarh allegedly built one of India's biggest illegal online betting empires, operating from luxury villas in Dubai while handling bets worth hundreds of crores every day.Here's how investigators say the Mahadev network actually worked.<h2>Step 1: Build one brand, operate hundreds of betting platforms</h2>According to the Enforcement Directorate (ED), Mahadev Online Book wasn't just a single betting app.It "operated as a large-scale international betting syndicate", in other words, the Mahadev app functioned as an umbrella network controlling dozens of betting websites and exchanges. This included platforms and domain names such as Tiger Exchange, Gold365 and Laser247.Users could allegedly place bets on almost anything, from cricket, football and tennis to poker, card games, elections and other games of chance.Even after several platforms were blocked by Indian authorities, investigators say fresh domains continued appearing under different names.Also read | <a href="https://www.wionews.com/world/wion-decodes-why-is-the-us-threatening-india-with-fresh-12-5-tariff-under-section-301-which-industries-stand-to-lose-the-most-1783489179101">WION Decodes: Why is the US threatening India with fresh 12.5% tariff under Section 301? Which industries stand to lose the most?</a><h2>Step 2: Run India from Dubai</h2>The brains behind the operation, Sourabh Chandrakar and Ravi Uppal, allegedly shifted to Dubai around 2019. From there, investigators say they controlled the entire network without physically operating in India.According to the ED, the duo rented nearly 20 villas in Dubai that housed around 3,500 employees managing customer support, betting operations, payments and technical infrastructure.<h2>Step 3: Franchise the betting business</h2>Unlike a traditional betting website, Mahadev allegedly expanded through a franchise model.The ED says local operators across India were given independent "panels" or "branches." In its press release dated 25 March 2026, the ED noted, "The operation was structured through a franchise-based network of 'Panels' or ‘Branches’ operated by associates across India, while the main promoters Sourabh Chandrakar and Ravi Uppal operated and controlled the betting syndicate from Dubai."These franchisees handled customers, collected bets and managed day-to-day gambling activity in their regions.In return, investigators allege Chandrakar and Uppal retained 70 to 75 per cent of the profits, while the remaining revenue was "distributed among panel operators managing the betting operations".This allowed Chandrakar and Uppal to grow the network rapidly without directly managing every betting operation.<h2>Step 4: Move money through thousands of dummy accounts</h2>Handling illegal gambling money posed another challenge.Investigators claim the syndicate solved it by creating thousands of mule bank accounts using KYC documents belonging to unsuspecting individuals."The Proceeds of Crime (PoC) generated from commission of scheduled offences were systematically layered through thousands of mules or dummy bank accounts opened using KYC documents of unsuspecting individuals."Money from bettors would first enter these accounts, making it harder for authorities to trace the original source. Notably, this layering process is a common technique in money laundering because it breaks the direct trail between the crime and the final beneficiary.Also read | <a href="https://www.wionews.com/photos/india-s-brahmos-vs-usa-s-tomahawk-russia-s-kalibr-and-china-s-yj-18-why-nations-are-lining-up-for-the-make-in-india-missile-1782892168517">India's BrahMos vs USA's Tomahawk, Russia's Kalibr and China's YJ-18: Why nations are lining up for the Make-in-India missile</a><h2>Step 5: Send the money abroad to turn black money white</h2>Once the funds were split across thousands of accounts, investigators say they were moved outside India using multiple channels.According to the ED, "Subsequently, the illicit funds were transferred outside India through hawala channels, cryptocurrency transactions and complex financial layering mechanisms, and were eventually invested in high-value movable and immovable assets in the UAE and India."<h2>Step 6: Voilà! ₹240-crore-a-day operation</h2>The sheer size of the alleged operation is what stunned investigators. According to the ED's chargesheet, Mahadev was operating around 3,200 betting panels across India.Together, these allegedly generated around ₹240 crore every day. If accurate, that would make it one of India's largest illegal betting syndicates.<h2>Chandrakar was arrested and let go earlier</h2>Based on an Interpol red notice, the alleged mastermind, Chandrakar, was briefly detained in Dubai in 2024, but the extradition request never materialised, and he was eventually released.Now, officials say he has been detained in Oman after allegedly travelling on a fake passport issued by a Southeast Asian country.Unlike the UAE case, India has an operational extradition treaty with Oman, raising hopes that Chandrakar may finally be brought back to face trial.<h2>What happens next?</h2>Chandrakar's detention does not end the Mahadev investigation. The CBI, the ED and Chhattisgarh Police continue to investigate the wider network, including alleged money laundering, public servants, financial facilitators and the sprawling franchise structure that investigators say kept the betting empire running even after repeated government crackdowns.If extradited, Chandrakar's questioning could provide investigators with their clearest picture yet of how one of India's biggest alleged online betting syndicates was built, financed and operated across borders.

Sourabh Chandrakar's detention in Oman has put the spotlight back on the Mahadev betting app. How did the alleged syndicate grow into a ₹240-crore-a-day operation? From Dubai control rooms to hawala networks and cryptocurrency, here's a step-by-step breakdown of how the empire worked.

For nearly six years, Indian agencies have chased Sourabh Chandrakar across countries. Now, with the alleged mastermind of the Mahadev betting app detained in Oman, authorities finally have a chance to bring one of India's most wanted economic fugitives back home. But the bigger story isn't where Chandrakar was caught. It is how two men from Chhattisgarh allegedly built one of India's biggest illegal online betting empires, operating from luxury villas in Dubai while handling bets worth hundreds of crores every day. Here's how investigators say the Mahadev network actually worked. Step 1: Build one brand, operate hundreds of betting platforms According to the Enforcement Directorate (ED), Mahadev Online Book wasn't just a single betting app. It "operated as a large-scale international betting syndicate", in other words, the Mahadev app functioned as an umbrella network controlling dozens of betting websites and exchanges. This included platforms and domain names such as Tiger Exchange, Gold365 and Laser247. Users could allegedly place bets on almost anything, from cricket, football and tennis to poker, card games, elections and other games of chance. Even after several platforms were blocked by Indian authorities, investigators say fresh domains continued appearing under different names. Also read | WION Decodes: Why is the US threatening India with fresh 12.5% tariff under Section 301? Which industries stand to lose the most? Step 2: Run India from Dubai The brains behind the operation, Sourabh Chandrakar and Ravi Uppal, allegedly shifted to Dubai around 2019. From there, investigators say they controlled the entire network without physically operating in India. According to the ED, the duo rented nearly 20 villas in Dubai that housed around 3,500 employees managing customer support, betting operations, payments and technical infrastructure. Step 3: Franchise the betting business Unlike a traditional betting website, Mahadev allegedly expanded through a franchise model. The ED says local operators across India were given independent "panels" or "branches." In its press release dated 25 March 2026, the ED noted, "The operation was structured through a franchise-based network of 'Panels' or ‘Branches’ operated by associates across India, while the main promoters Sourabh Chandrakar and Ravi Uppal operated and controlled the betting syndicate from Dubai." These franchisees handled customers, collected bets and managed day-to-day gambling activity in their regions. In return, investigators allege Chandrakar and Uppal retained 70 to 75 per cent of the profits, while the remaining revenue was "distributed among panel operators managing the betting operations". This allowed Chandrakar and Uppal to grow the network rapidly without directly managing every betting operation. Step 4: Move money through thousands of dummy accounts Handling illegal gambling money posed another challenge. Investigators claim the syndicate solved it by creating thousands of mule bank accounts using KYC documents belonging to unsuspecting individuals. "The Proceeds of Crime (PoC) generated from commission of scheduled offences were systematically layered through thousands of mules or dummy bank accounts opened using KYC documents of unsuspecting individuals." Money from bettors would first enter these accounts, making it harder for authorities to trace the original source. Notably, this layering process is a common technique in money laundering because it breaks the direct trail between the crime and the final beneficiary. Also read | India's BrahMos vs USA's Tomahawk, Russia's Kalibr and China's YJ-18: Why nations are lining up for the Make-in-India missile Step 5: Send the money abroad to turn black money white Once the funds were split across thousands of accounts, investigators say they were moved outside India using multiple channels. According to the ED, "Subsequently, the illicit funds were transferred outside India through hawala channels, cryptocurrency transactions and complex financial layering mechanisms, and were eventually invested in high-value movable and immovable assets in the UAE and India." Step 6: Voilà! ₹240-crore-a-day operation The sheer size of the alleged operation is what stunned investigators. According to the ED's chargesheet, Mahadev was operating around 3,200 betting panels across India. Together, these allegedly generated around ₹240 crore every day. If accurate, that would make it one of India's largest illegal betting syndicates. Chandrakar was arrested and let go earlier Based on an Interpol red notice, the alleged mastermind, Chandrakar, was briefly detained in Dubai in 2024, but the extradition request never materialised, and he was eventually released. Now, officials say he has been detained in Oman after allegedly travelling on a fake passport issued by a Southeast Asian country. Unlike the UAE case, India has an operational extradition treaty with Oman, raising hopes that Chandrakar may finally be brought back to face trial. What happens next? Chandrakar's detention does not end the Mahadev investigation. The CBI, the ED and Chhattisgarh Police continue to investigate the wider network, including alleged money laundering, public servants, financial facilitators and the sprawling franchise structure that investigators say kept the betting empire running even after repeated government crackdowns. If extradited, Chandrakar's questioning could provide investigators with their clearest picture yet of how one of India's biggest alleged online betting syndicates was built, financed and operated across borders.

Sourabh Chandrakar's detention in Oman has put the spotlight back on the Mahadev betting app. How did the alleged syndicate grow into a ₹240-crore-a-day operation? From Dubai control rooms to hawala networks and cryptocurrency, here's a step-by-step breakdown of how the empire worked.

Mahadev app mastermind Sourabh Chandrakar arrested in Oman: Inside the ₹240-crore-a-day betting empire | WION Decodes

On India's AI workplace readiness, there are two narratives: One that says the nation is heavily invested in it, and the other that brings out several gaps. The recent Kyndryl's People Readiness Report 2026 found that only 25 per cent of Indian organisations consider their workforce adequately prepared to leverage Artificial Intelligence, down 12 percentage points from 2025. While 56 per cent of organisations have AI deployed broadly or embedded in their core business processes, 81 per cent of Indian leaders believe AI is advancing faster than their workforce, governance and operating models. The AI skill gaps, from schools to the workplace, are ones that need urgent fixing in India. Here is why:<h2>India's AI skill readiness: Demand outrunning supply</h2>Recent data from the Ministry of Electronics and Information Technology of India (MeitY) showed only about 16 per cent of India's IT professionals are AI-skilled. A study by NASSCOM-McKinsey projected a shortage of more than 1.4 million AI professionals by 2026 without accelerated upskilling. A NASSCOM-Deloitte estimate said India's AI talent pool will grow from 600,000-650,000 to over 1.25 million between 2022 and 2027, while demand is expected to expand at 25-35 per cent annually.<a href="https://www.wionews.com/videos/india-joins-us-led-pax-silica-ai-supply-initiative-1782446225592/embed">https://www.wionews.com/videos/india-joins-us-led-pax-silica-ai-supply-initiative-1782446225592/embed</a><h2>Indian graduates are only half-ready to tackle AI-led workplaces</h2>The Mercer-Mettl India Graduate Skill Index 2025 reported an overall graduate employability at 42.6 per cent with 46 per cent of graduates employable for AI and machine learning roles. Employability stood at 48.4 per cent in Tier 1 colleges, 46.1 per cent in Tier 2 institutions and 43.4% in Tier 3 colleges. This indicates that Indian graduates are only half-ready for AI-intensive workplaces.<h2>The vocational skills gap in India</h2>AI skills gap is part of a larger problem. India's periodic labour force survey (PLFS) data shows that only 21 per cent of people aged 15-29 have received vocational or technical training, with just 4.4 per cent receiving formal training. The India Skills Report 2026, produced by Wheebox-ETS with AICTE and CII, found employability among computer science and IT engineers at nearly 80 per cent, compared with 45.95 per cent for ITI graduates and 32.92 per cent for polytechnic graduates. This should be seen in the context of what the report said was a 600 per cent growth in AI and machine learning job opportunities.Also read: <a href="https://www.wionews.com/india-news/india-s-ai-problem-gaps-in-compute-hardware-infrastructure-chips-1781943963441">India's AI problem: Gaps in compute, hardware, infrastructure, chips affect readiness</a><h2>Catch them young: AI, school education and teacher readiness</h2>The Ministry of Education plans to introduce AI from Class 3 in the 2026-27 academic year, with CBSE preparing the curriculum. But then, we are also dealing with lack of basic computer and internet access at school levels. The 2024-25 data from UDISE+ of India's Department of Education showed that about 65 per cent of schools have computers, but only 58 per cent are functional, while internet access stands at about 63 per cent nationally. Surveys conducted in 2025 indicate only about 15 per cent of teachers and educators are AI-fluent.&nbsp;Also read: India's AI problem: <a href="https://www.wionews.com/india-news/india-s-ai-problem-funding-gap-for-ai-startups-research-and-development-is-the-core-constraint-artificial-intelligence-news-1782542028012">Funding gap for AI startups, research and development is the core constraint</a><h2>The larger picture of India AI skill gaps: Reports from the UN and national agencies</h2>NITI Aayog's October 2025 roadmap estimated that AI could displace around 2 million traditional jobs while creating up to 8 million new roles if supported by appropriate policy and skilling measures. Against this, one has to look at the larger picture to compare India with the global situation. The UNCTAD Technology and Innovation Report of 2025 ranked India 113th in skills and 99th in ICT deployment, while placing it 10th globally in AI investment. The report warned that AI could affect up to 40 per cent of jobs worldwide.Also read: <a href="https://www.wionews.com/technology/india-s-deep-tech-has-a-prototype-problem-that-big-industry-wants-to-fix-1783552923186/amp">India's Deep-Tech has a Prototype problem, that big Industry wants to fix</a>&nbsp;The more recent one, UNESCO's India AI Readiness Assessment Report 2026, prepared with the IndiaAI Mission and MeitY, estimates India accounts for around 16 per cent of global AI talent and has filed more than 86,000 AI patents since 2010. Among other things, the report identifies gaps in AI governance, workforce transition planning and AI skills and computing infrastructure, warning that unequal access could widen economic inequalities.The UN's 2026 AI Governance Report does not assess India separately, but warns that AI capabilities are advancing faster than governance systems. It said that compute, talent and frontier AI capabilities are becoming increasingly concentrated among a small number of countries and companies. This presents additional challenges for developing economies like India seeking to build AI-ready workforces.

India's AI ambitions face a workforce challenge. Multiple reports, from Kyndryl to UN to Indian government, highlight shortages in AI skills, teacher and student readiness for the workplace, despite rapid AI adoption in the country. Here is why it's concerning

On India's AI workplace readiness, there are two narratives: One that says the nation is heavily invested in it, and the other that brings out several gaps. The recent Kyndryl's People Readiness Report 2026 found that only 25 per cent of Indian organisations consider their workforce adequately prepared to leverage Artificial Intelligence, down 12 percentage points from 2025. While 56 per cent of organisations have AI deployed broadly or embedded in their core business processes, 81 per cent of Indian leaders believe AI is advancing faster than their workforce, governance and operating models. The AI skill gaps, from schools to the workplace, are ones that need urgent fixing in India. Here is why: India's AI skill readiness: Demand outrunning supply Recent data from the Ministry of Electronics and Information Technology of India (MeitY) showed only about 16 per cent of India's IT professionals are AI-skilled. A study by NASSCOM-McKinsey projected a shortage of more than 1.4 million AI professionals by 2026 without accelerated upskilling. A NASSCOM-Deloitte estimate said India's AI talent pool will grow from 600,000-650,000 to over 1.25 million between 2022 and 2027, while demand is expected to expand at 25-35 per cent annually. https://www.wionews.com/videos/india-joins-us-led-pax-silica-ai-supply-initiative-1782446225592/embed Indian graduates are only half-ready to tackle AI-led workplaces The Mercer-Mettl India Graduate Skill Index 2025 reported an overall graduate employability at 42.6 per cent with 46 per cent of graduates employable for AI and machine learning roles. Employability stood at 48.4 per cent in Tier 1 colleges, 46.1 per cent in Tier 2 institutions and 43.4% in Tier 3 colleges. This indicates that Indian graduates are only half-ready for AI-intensive workplaces. The vocational skills gap in India AI skills gap is part of a larger problem. India's periodic labour force survey (PLFS) data shows that only 21 per cent of people aged 15-29 have received vocational or technical training, with just 4.4 per cent receiving formal training. The India Skills Report 2026, produced by Wheebox-ETS with AICTE and CII, found employability among computer science and IT engineers at nearly 80 per cent, compared with 45.95 per cent for ITI graduates and 32.92 per cent for polytechnic graduates. This should be seen in the context of what the report said was a 600 per cent growth in AI and machine learning job opportunities. Also read: India's AI problem: Gaps in compute, hardware, infrastructure, chips affect readiness Catch them young: AI, school education and teacher readiness The Ministry of Education plans to introduce AI from Class 3 in the 2026-27 academic year, with CBSE preparing the curriculum. But then, we are also dealing with lack of basic computer and internet access at school levels. The 2024-25 data from UDISE+ of India's Department of Education showed that about 65 per cent of schools have computers, but only 58 per cent are functional, while internet access stands at about 63 per cent nationally. Surveys conducted in 2025 indicate only about 15 per cent of teachers and educators are AI-fluent. Also read: India's AI problem: Funding gap for AI startups, research and development is the core constraint The larger picture of India AI skill gaps: Reports from the UN and national agencies NITI Aayog's October 2025 roadmap estimated that AI could displace around 2 million traditional jobs while creating up to 8 million new roles if supported by appropriate policy and skilling measures. Against this, one has to look at the larger picture to compare India with the global situation. The UNCTAD Technology and Innovation Report of 2025 ranked India 113th in skills and 99th in ICT deployment, while placing it 10th globally in AI investment. The report warned that AI could affect up to 40 per cent of jobs worldwide. Also read: India's Deep-Tech has a Prototype problem, that big Industry wants to fix The more recent one, UNESCO's India AI Readiness Assessment Report 2026, prepared with the IndiaAI Mission and MeitY, estimates India accounts for around 16 per cent of global AI talent and has filed more than 86,000 AI patents since 2010. Among other things, the report identifies gaps in AI governance, workforce transition planning and AI skills and computing infrastructure, warning that unequal access could widen economic inequalities. The UN's 2026 AI Governance Report does not assess India separately, but warns that AI capabilities are advancing faster than governance systems. It said that compute, talent and frontier AI capabilities are becoming increasingly concentrated among a small number of countries and companies. This presents additional challenges for developing economies like India seeking to build AI-ready workforces.

India's AI ambitions face a workforce challenge. Multiple reports, from Kyndryl to UN to the Indian government, highlight shortages in AI skills, teacher and student readiness for the workplace, despite rapid AI adoption in the country. Here is why it's concerning

India's AI problem: From teachers to students to workers, the workplace readiness skill gap that needs fixing

The International Monetary Fund (IMF) on Wednesday lowered its global growth forecast for 2026 for the second time this year, warning that renewed fighting in West Asia has increased uncertainty over the world economy.&nbsp;In its latest World Economic Outlook update, the IMF projected global economic growth at 3.0 per cent for 2026, down from the 3.1 per cent forecast it made in April.&nbsp;The updated forecast was prepared before the latest exchange of fire between the United States and Iran.&nbsp;This is the second time in 2026 that the IMF has lowered its global growth outlook. The Fund also expects the world economy to grow at a slower pace than in 2025. The IMF now expects global inflation to reach 4.7 per cent this year, higher than it had projected earlier.&nbsp;The IMF expects global growth to improve to 3.4 per cent in 2027.&nbsp;In April's forecast, the global fund has slashed its global GDP growth forecast to 3.1%, down from its previous 3.3% estimate.

<blockquote class="twitter-tweet">Updated IMF Growth Forecasts for 2026: 🇺🇸 US: 2.3% 🇩🇪 Germany: 0.7% 🇫🇷 France: 0.6% 🇬🇧 UK: 1.0% 🇨🇳 China: 4.6% 🇯🇵 Japan: 0.6% 🇮🇳 India: 6.4% 🇷🇺 Russia: 1.1% 🇧🇷 Brazil: 2.4% 🇸🇦 Saudi Arabia: 1.7% 🇳🇬 Nigeria: 4.1% Explore the full projections: <a href="https://t.co/EWThm8NLlj">https://t.co/EWThm8NLlj</a> <a href="https://t.co/0ypjx81oHn">pic.twitter.com/0ypjx81oHn</a>&mdash; IMF (@IMFNews) <a href="https://x.com/IMFNews/status/2074841125916135925?ref_src=twsrc%5Etfw">July 8, 2026</a></blockquote> <script async src="https://platform.x.com/widgets.js" charset="utf-8"></script>

US and Israeli strikes targeting Iran since February 28 triggered retaliation from Tehran, which virtually blocked the Strait of Hormuz and pushed the Middle East into war. The disruption to traffic through the strategic waterway drove oil prices higher, adding pressure on economies around the world. Oil and gas shipments resumed after a temporary US-Iran agreement paused hostilities, but tensions have escalated after a recent exchange of fire between Washington and Tehran.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/world/trump-says-us-may-reinstate-naval-blockade-attack-iran-s-oil-electric-and-water-infrastructure-1783522388324">Trump says US may reinstate naval blockade, attack Iran’s oil, electric and water infrastructure</a><h3>India's growth outlook revised</h3>The IMF also marginally lowered India's real GDP growth forecast for 2026 to 6.4 per cent, reducing it by 0.1 percentage point from its April estimate. It attributed the revision to a more challenging global environment shaped by geopolitical tensions and trade uncertainty.&nbsp;At the same time, the Fund raised India's growth forecast for 2027 to 6.7 per cent from its earlier projection of 6.5 per cent, reflecting confidence in the country's medium-term outlook.&nbsp;The IMF said India continues to be one of the fastest-growing major economies.&nbsp;"India remains among the fastest-growing major economies, with growth projected at 6.4 per cent, supported by strong momentum in private consumption and services activity," the report said.

The IMF lowered its 2026 global growth forecast to 3.0 per cent in its latest World Economic Outlook update, after reducing it from 3.3 per cent to 3.1 per cent in April due to the US-Iran war.

The International Monetary Fund (IMF) on Wednesday lowered its global growth forecast for 2026 for the second time this year, warning that renewed fighting in West Asia has increased uncertainty over the world economy. In its latest World Economic Outlook update, the IMF projected global economic growth at 3.0 per cent for 2026, down from the 3.1 per cent forecast it made in April. The updated forecast was prepared before the latest exchange of fire between the United States and Iran. This is the second time in 2026 that the IMF has lowered its global growth outlook. The Fund also expects the world economy to grow at a slower pace than in 2025. The IMF now expects global inflation to reach 4.7 per cent this year, higher than it had projected earlier. The IMF expects global growth to improve to 3.4 per cent in 2027. In April's forecast, the global fund has slashed its global GDP growth forecast to 3.1%, down from its previous 3.3% estimate.

The IMF lowered its 2026 global growth forecast to 3.0 per cent in its latest World Economic Outlook update, after reducing it from 3.3 per cent to 3.1 per cent in April due to the US-Iran war.

IMF cuts global growth forecast for second time in 2026 amid West Asia tensions; where does India stand?

Blue Origin is preparing for one of the biggest fundraising rounds in the history of the private space industry. According to CNBC, Jeff Bezos' rocket company is looking to raise around $10 billion, valuing the company at approximately $130 billion.It will be the first time Blue Origin has accepted large-scale outside investment after years of relying mainly on funding from Bezos himself. The move is significant because it gives investors a rare opportunity to back one of the world's largest private space companies. The fundraising also comes only weeks after SpaceX completed a record-breaking IPO, adding fresh momentum to the commercial space industry.<h2>How is the funding round structured?</h2>According to people familiar with the discussions, Bezos is expected to invest $2 billion of his own money in the round. Investment firm Coatue Management is reportedly set to contribute about $4 billion, while the remaining $4 billion is expected to come from several institutional investors. CNBC reported that demand for the remaining allocation has been strong. If completed, the deal would value Blue Origin among the world's most valuable privately controlled aerospace companies.<h2>Why is Blue Origin raising money now?</h2>For years, Bezos funded Blue Origin largely through personal wealth, including proceeds from selling Amazon shares. However, developing reusable rockets, lunar landers and future space infrastructure requires enormous amounts of capital. Bringing in outside investors gives the company greater financial flexibility while reducing its dependence on Bezos alone.In an interview with CNBC in May, Bezos said it was "a good time" to consider external investment as the company enters its next phase of growth.<h2>What does it mean for the space industry?</h2>The fundraising reflects growing investor confidence in the commercial space sector. Blue Origin is developing launch vehicles such as New Glenn, while also working on lunar exploration projects, satellite launch services and long-term space infrastructure. The timing is notable. SpaceX's recent IPO demonstrated that investors are willing to place massive bets on commercial space companies. Blue Origin's fundraising suggests competition between Bezos and Elon Musk is expanding beyond rockets into financial markets. If the round closes as expected, Blue Origin will have billions of dollars to accelerate development of future launch systems and compete more aggressively in an industry expected to grow rapidly over the coming decade.

Blue Origin is reportedly raising $10 billion in its first outside funding round, valuing the company at $130 billion. Jeff Bezos is expected to invest $2 billion as the space company looks to expand after SpaceX's record-breaking IPO.

Blue Origin is preparing for one of the biggest fundraising rounds in the history of the private space industry. According to CNBC, Jeff Bezos' rocket company is looking to raise around $10 billion, valuing the company at approximately $130 billion. It will be the first time Blue Origin has accepted large-scale outside investment after years of relying mainly on funding from Bezos himself. The move is significant because it gives investors a rare opportunity to back one of the world's largest private space companies. The fundraising also comes only weeks after SpaceX completed a record-breaking IPO, adding fresh momentum to the commercial space industry. How is the funding round structured? According to people familiar with the discussions, Bezos is expected to invest $2 billion of his own money in the round. Investment firm Coatue Management is reportedly set to contribute about $4 billion, while the remaining $4 billion is expected to come from several institutional investors. CNBC reported that demand for the remaining allocation has been strong. If completed, the deal would value Blue Origin among the world's most valuable privately controlled aerospace companies. Why is Blue Origin raising money now? For years, Bezos funded Blue Origin largely through personal wealth, including proceeds from selling Amazon shares. However, developing reusable rockets, lunar landers and future space infrastructure requires enormous amounts of capital. Bringing in outside investors gives the company greater financial flexibility while reducing its dependence on Bezos alone. In an interview with CNBC in May, Bezos said it was "a good time" to consider external investment as the company enters its next phase of growth. What does it mean for the space industry? The fundraising reflects growing investor confidence in the commercial space sector. Blue Origin is developing launch vehicles such as New Glenn, while also working on lunar exploration projects, satellite launch services and long-term space infrastructure. The timing is notable. SpaceX's recent IPO demonstrated that investors are willing to place massive bets on commercial space companies. Blue Origin's fundraising suggests competition between Bezos and Elon Musk is expanding beyond rockets into financial markets. If the round closes as expected, Blue Origin will have billions of dollars to accelerate development of future launch systems and compete more aggressively in an industry expected to grow rapidly over the coming decade.

Blue Origin is reportedly raising $10 billion in its first outside funding round, valuing the company at $130 billion. Jeff Bezos is expected to invest $2 billion as the space company looks to expand after SpaceX's record-breaking IPO.

Blue Origin's first funding round signals a new chapter in the space race

Tensions in the Middle East have escalated as US President Donald Trump said on Wednesday (Jul 8) that the US-Iran Memorandum of Understanding (MoU) is "over", following renewed strikes and alleged violations by both sides. Trump's remarks at the NATO summit in Ankara, Turkey, sparked rise in oil prices and stock market volatility across the world. US Defense Secretary Pete Hegseth cancelled a planned trip to Israel, Israeli media reported. Is the war back?<h2>Trump thinks further dealings with Iran are a waste of time</h2>Making some harsh remarks in which he described Iranian leaders as "scum", the US president said further dealings with them were a waste of time. He allowed negotiators to continue talks if they wished, but said the MoU was "over". Just hours earlier, US and Iranian forces had traded strikes, including military actions around the Strait of Hormuz.<h2>Iran accuses the US of violating the MoU, strikes sites in Kuwait, Bahrain</h2>Iran accused the US of violating the MoU, which was signed in mid-June 2026 at the Palace of Versailles and aimed at ending the active hostilities that began in late February. The MoU was intended to reopen the Strait of Hormuz, restore freedom of navigation for commercial shipping, reduce military tensions in the Gulf, and lay the groundwork for broader diplomatic talks.Reports said that Iran targeted military interests in Kuwait and Bahrain. The Islamic Revolutionary Guard Corps (IRGC) said one of its fighters was killed in an ‘enemy drone strike’, according to Iranian state media. A senior IRGC commander warned that any location supporting US attacks would be considered a legitimate target, Iranian state media reported.Also read: <a href="https://www.wionews.com/world/us-strikes-on-iran-4-5-times-bigger-than-previous-wave-officials-1783469488428">US strikes on Iran '4-5 times bigger' than previous wave: Officials</a><h2>Oil markets react immediately to war talk</h2>Oil prices are rising - by up to 6 per cent in some cases- at the time of writing this, amid fears that hostilities would resume. Brent crude prices jumped towards $79 per barrel as traders reacted to the risk of disruption to roughly 20 per cent of global oil flows that pass through the Strait of Hormuz. Earlier in the conflict, prices had surged dramatically to more than US$120 per barrel at their peak before easing following the truce.&nbsp;The latest volatility echoes previous price spikes linked to attacks on shipping and energy infrastructure in the region.<a href="https://www.wionews.com/videos/us-iran-war-there-ll-either-be-deal-or-us-will-finish-job-says-trump-1783402027929/embed">https://www.wionews.com/videos/us-iran-war-there-ll-either-be-deal-or-us-will-finish-job-says-trump-1783402027929/embed</a><h2>US Defense Secretary Pete Hegseth cancels Israel trip</h2>The Jerusalem Post reported citing sources that Hegseth cancelled a planned visit to Israel on Wednesday, during which he was due to meet Prime Minister Benjamin Netanyahu and Defence Minister Israel Katz. Hegseth, who is in Ankara with Trump for the NATO summit, was expected to make a brief visit in the wake of the overnight US strikes against Iran, which Washington said were in response to Iranian attacks targeting three commercial tankers in the waters off Oman, near the Strait of Hormuz, the report said.(Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.) &nbsp;&nbsp;

Trump said the peace MoU is "over" after renewed tit-for-tat strikes. Oil prices are surging again. Pete Hegseth cancelled his Israel trip. Is Iran war back? 

Tensions in the Middle East have escalated as US President Donald Trump said on Wednesday (Jul 8) that the US-Iran Memorandum of Understanding (MoU) is "over", following renewed strikes and alleged violations by both sides. Trump's remarks at the NATO summit in Ankara, Turkey, sparked rise in oil prices and stock market volatility across the world. US Defense Secretary Pete Hegseth cancelled a planned trip to Israel, Israeli media reported. Is the war back? Trump thinks further dealings with Iran are a waste of time Making some harsh remarks in which he described Iranian leaders as "scum", the US president said further dealings with them were a waste of time. He allowed negotiators to continue talks if they wished, but said the MoU was "over". Just hours earlier, US and Iranian forces had traded strikes, including military actions around the Strait of Hormuz. Iran accuses the US of violating the MoU, strikes sites in Kuwait, Bahrain Iran accused the US of violating the MoU, which was signed in mid-June 2026 at the Palace of Versailles and aimed at ending the active hostilities that began in late February. The MoU was intended to reopen the Strait of Hormuz, restore freedom of navigation for commercial shipping, reduce military tensions in the Gulf, and lay the groundwork for broader diplomatic talks. Reports said that Iran targeted military interests in Kuwait and Bahrain. The Islamic Revolutionary Guard Corps (IRGC) said one of its fighters was killed in an ‘enemy drone strike’, according to Iranian state media. A senior IRGC commander warned that any location supporting US attacks would be considered a legitimate target, Iranian state media reported. Also read: US strikes on Iran '4-5 times bigger' than previous wave: Officials Oil markets react immediately to war talk Oil prices are rising - by up to 6 per cent in some cases- at the time of writing this, amid fears that hostilities would resume. Brent crude prices jumped towards $79 per barrel as traders reacted to the risk of disruption to roughly 20 per cent of global oil flows that pass through the Strait of Hormuz. Earlier in the conflict, prices had surged dramatically to more than US$120 per barrel at their peak before easing following the truce. The latest volatility echoes previous price spikes linked to attacks on shipping and energy infrastructure in the region. https://www.wionews.com/videos/us-iran-war-there-ll-either-be-deal-or-us-will-finish-job-says-trump-1783402027929/embed US Defense Secretary Pete Hegseth cancels Israel trip The Jerusalem Post reported citing sources that Hegseth cancelled a planned visit to Israel on Wednesday, during which he was due to meet Prime Minister Benjamin Netanyahu and Defence Minister Israel Katz. Hegseth, who is in Ankara with Trump for the NATO summit, was expected to make a brief visit in the wake of the overnight US strikes against Iran, which Washington said were in response to Iranian attacks targeting three commercial tankers in the waters off Oman, near the Strait of Hormuz, the report said. (Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.)

Trump said the peace MoU is "over" after renewed tit-for-tat strikes. Oil prices are surging again. Pete Hegseth cancelled his Israel trip. Is Iran war back?&nbsp;

War clouds loom over Iran once again? Hegseth cancels Israel trip, oil prices rise as Trump says peace deal is ‘over’

Just as India and the United States appeared to be inching closer to a long-awaited bilateral trade agreement, a fresh dispute has landed on the negotiating table. Washington has proposed an additional 12.5 per cent tariff on certain Indian imports, alleging that India's enforcement against forced labour is inadequate. New Delhi has strongly pushed back, calling the proposal legally and factually weak, while insisting the issue should be resolved through consultations rather than new tariffs.The timing matters because both countries have repeatedly said they are close to finalising a trade pact worth hundreds of billions of dollars.Also read | <a href="https://www.wionews.com/world/us-says-trade-deal-with-india-is-very-very-close-what-s-holding-it-up-wion-decodes-1782280167960">US says trade deal with India is 'very, very close'. What's holding it up? | WION Decodes</a>So why has the US opened a new trade front now? And which Indian industries stand to lose the most if the tariff eventually takes effect? WION Decodes.<h2>Why is the US proposing new tariffs?</h2>The proposed tariff stems from a Section 301 investigation launched by the Office of the US Trade Representative (USTR).Washington argues that India has not done enough to prevent products allegedly linked to forced labour from entering international supply chains. According to the USTR, this places an unreasonable burden on American commerce and justifies trade action.The proposed duty is not aimed only at India. The investigation covers around 60 economies, although India is among the largest trading partners affected.For now, it remains a proposal rather than a final decision, giving countries an opportunity to challenge the findings before any tariff comes into force.<h2>What exactly is Section 301?</h2>Section 301 is one of Washington's most powerful trade weapons. It comes from the US Trade Act of 1974 and allows the US government to investigate what it considers unfair trade practices by other countries.If the USTR concludes that another country's policies harm American businesses or violate international trade obligations, it can recommend retaliatory measures.Those measures can include:- Additional import tariffs - Restrictions on imports - Suspension of trade concessionsThe law has previously been used against China over intellectual property disputes, European digital taxes and several other trade disagreements.Also read | <a href="https://www.wionews.com/photos/india-s-brahmos-vs-usa-s-tomahawk-russia-s-kalibr-and-china-s-yj-18-why-nations-are-lining-up-for-the-make-in-india-missile-1782892168517">India's BrahMos vs USA's Tomahawk, Russia's Kalibr and China's YJ-18: Why nations are lining up for the Make-in-India missile</a><h2>How did India react to the Section 301 findings?</h2>India argues that Washington has failed to provide country-specific evidence linking Indian exports to forced labour. In a detailed submission dated July 6 to the United States Trade Representative (USTR), India said the investigation does not establish how its laws or policies amount to "unreasonable" practices under the US's Section 301.Officials say the proposal rests on broad allegations rather than documented proof involving Indian manufacturers. "In view of the claims advanced, the identified gaps and lack of a sufficient basis, India requests the United States to reconsider the proposed imposition of tariffs against India. India remains willing to engage constructively with the USTR through consultation and dialogue on any specific concern," the submission reads.India has also questioned whether the tariff has a sufficient legal basis under international trade rules.Instead of unilateral tariffs, New Delhi wants both sides to resolve the dispute through consultations already built into the Section 301 process.At the same time, Indian negotiators are trying to ensure that this issue does not derail the much larger bilateral trade agreement currently under discussion.<h2>Could this affect the India-US trade deal?</h2>Potentially, yes. Although officials on both sides continue to insist that negotiations have made "substantial progress", the proposed tariff has introduced a fresh layer of uncertainty.India wants assurances that once a trade agreement is signed, it will not immediately face new tariff measures through a separate process.For Washington, meanwhile, the Section 301 investigation provides additional negotiating leverage. Trade experts believe the issue could eventually become part of a broader bargain involving tariffs, market access and regulatory commitments.<h2>Which Indian industries stand to lose the most?</h2>If an additional tariff is imposed, the impact is unlikely to be felt evenly. Some sectors are significantly more exposed to the US market than others.<h3>- Automotive components</h3>India's auto component industry exports billions of dollars' worth of precision-engineered parts to American manufacturers.An extra tariff would raise costs for US buyers and could reduce the competitiveness of Indian suppliers.<h3>- Textiles and garments</h3>Indian apparel exporters are deeply integrated into global supply chains, and even a relatively modest tariff could influence sourcing decisions by international retailers. Major companies like Shahi Exports and Alok Industries have actively petitioned against the tariff.<h3>- Agricultural and food exports</h3>Rice exporters, spice manufacturers, dehydrated vegetable producers and other processed food exporters could also find it harder to compete in the American market if import costs rise.<h3>- Engineering goods</h3>Engineering exports remain one of India's largest export categories. Forgings, industrial machinery, heavy equipment and specialised manufacturing products could all become more expensive for US customers.<h2>What happens next?</h2>Nothing changes immediately. The tariff proposal is still moving through the USTR consultation process, during which India will continue challenging the findings.Meanwhile, negotiations on the bilateral trade agreement are continuing in parallel.That means the coming weeks could determine whether the two countries move towards deeper economic integration or allow a fresh tariff dispute to complicate the much-awaited India-US trade deal.

Could the proposed 12.5% US tariff derail the long-awaited India-US trade deal? Washington has opened a fresh trade front, but which Indian industries face the biggest risk, why is the US citing forced labour concerns, and how is New Delhi fighting back? Scroll down for a simple explainer.

Just as India and the United States appeared to be inching closer to a long-awaited bilateral trade agreement, a fresh dispute has landed on the negotiating table. Washington has proposed an additional 12.5 per cent tariff on certain Indian imports, alleging that India's enforcement against forced labour is inadequate. New Delhi has strongly pushed back, calling the proposal legally and factually weak, while insisting the issue should be resolved through consultations rather than new tariffs. The timing matters because both countries have repeatedly said they are close to finalising a trade pact worth hundreds of billions of dollars. Also read | US says trade deal with India is 'very, very close'. What's holding it up? | WION Decodes So why has the US opened a new trade front now? And which Indian industries stand to lose the most if the tariff eventually takes effect? WION Decodes. Why is the US proposing new tariffs? The proposed tariff stems from a Section 301 investigation launched by the Office of the US Trade Representative (USTR). Washington argues that India has not done enough to prevent products allegedly linked to forced labour from entering international supply chains. According to the USTR, this places an unreasonable burden on American commerce and justifies trade action. The proposed duty is not aimed only at India. The investigation covers around 60 economies, although India is among the largest trading partners affected. For now, it remains a proposal rather than a final decision, giving countries an opportunity to challenge the findings before any tariff comes into force. What exactly is Section 301? Section 301 is one of Washington's most powerful trade weapons. It comes from the US Trade Act of 1974 and allows the US government to investigate what it considers unfair trade practices by other countries. If the USTR concludes that another country's policies harm American businesses or violate international trade obligations, it can recommend retaliatory measures. Those measures can include: - Additional import tariffs - Restrictions on imports - Suspension of trade concessions The law has previously been used against China over intellectual property disputes, European digital taxes and several other trade disagreements. Also read | India's BrahMos vs USA's Tomahawk, Russia's Kalibr and China's YJ-18: Why nations are lining up for the Make-in-India missile How did India react to the Section 301 findings? India argues that Washington has failed to provide country-specific evidence linking Indian exports to forced labour. In a detailed submission dated July 6 to the United States Trade Representative (USTR), India said the investigation does not establish how its laws or policies amount to "unreasonable" practices under the US's Section 301. Officials say the proposal rests on broad allegations rather than documented proof involving Indian manufacturers. "In view of the claims advanced, the identified gaps and lack of a sufficient basis, India requests the United States to reconsider the proposed imposition of tariffs against India. India remains willing to engage constructively with the USTR through consultation and dialogue on any specific concern," the submission reads. India has also questioned whether the tariff has a sufficient legal basis under international trade rules. Instead of unilateral tariffs, New Delhi wants both sides to resolve the dispute through consultations already built into the Section 301 process. At the same time, Indian negotiators are trying to ensure that this issue does not derail the much larger bilateral trade agreement currently under discussion. Could this affect the India-US trade deal? Potentially, yes. Although officials on both sides continue to insist that negotiations have made "substantial progress", the proposed tariff has introduced a fresh layer of uncertainty. India wants assurances that once a trade agreement is signed, it will not immediately face new tariff measures through a separate process. For Washington, meanwhile, the Section 301 investigation provides additional negotiating leverage. Trade experts believe the issue could eventually become part of a broader bargain involving tariffs, market access and regulatory commitments. Which Indian industries stand to lose the most? If an additional tariff is imposed, the impact is unlikely to be felt evenly. Some sectors are significantly more exposed to the US market than others. - Automotive components India's auto component industry exports billions of dollars' worth of precision-engineered parts to American manufacturers. An extra tariff would raise costs for US buyers and could reduce the competitiveness of Indian suppliers. - Textiles and garments Indian apparel exporters are deeply integrated into global supply chains, and even a relatively modest tariff could influence sourcing decisions by international retailers. Major companies like Shahi Exports and Alok Industries have actively petitioned against the tariff. - Agricultural and food exports Rice exporters, spice manufacturers, dehydrated vegetable producers and other processed food exporters could also find it harder to compete in the American market if import costs rise. - Engineering goods Engineering exports remain one of India's largest export categories. Forgings, industrial machinery, heavy equipment and specialised manufacturing products could all become more expensive for US customers. What happens next? Nothing changes immediately. The tariff proposal is still moving through the USTR consultation process, during which India will continue challenging the findings. Meanwhile, negotiations on the bilateral trade agreement are continuing in parallel. That means the coming weeks could determine whether the two countries move towards deeper economic integration or allow a fresh tariff dispute to complicate the much-awaited India-US trade deal.

Could the proposed 12.5% US tariff derail the long-awaited India-US trade deal? Washington has opened a fresh trade front, but which Indian industries face the biggest risk, why is the US citing forced labour concerns, and how is New Delhi fighting back? Scroll down for a simple explainer.

WION Decodes: Why is the US threatening India with fresh 12.5% tariff under Section 301? Which industries stand to lose the most?

Gold is no longer just an heirloom in India; it's fast turning into working capital. On the other hand, Beijing is stockpiling it like never before. Two very different stories for one asset class.<h3>Gold loans surge, India's silent credit shift</h3>Let's start with India. Reserve Bank of India data shows loans against gold jewellery crossed 4 lakh crore rupees, or over $42 billion, by January this year. That is a 128 per cent year-on-year jump.&nbsp;Zoom out further, and new gold loan sourcing surged 91 per cent year-on-year in last year's December quarter alone, with active accounts crossing 90 million. Non-banking financial companies, or NBFCs, are the engine.&nbsp;Their gold loan books nearly doubled, up 96.5 per cent year-on-year, dwarfing the industry's 54.5 per cent growth.That shows NBFCs are riding India's gold-backed loan boom.<h3>South India leads, North is catching up fast</h3>Geography tells the real story. Tamil Nadu leads with 5.96 lakh crore rupees in outstanding gold loans, followed by Andhra Pradesh at 3.08 lakh crore rupees, then Karnataka, Telangana and Kerala.&nbsp;The five southern states are cornering nearly three-fourths of the entire market. But the map is shifting: Uttar Pradesh, Madhya Pradesh and Rajasthan are now emerging as high-growth frontiers. That is a clear sign gold-backed credit is going pan-India.<h3>From crisis cash to growth capital: Gold</h3><h3>Why now?</h3>Elevated gold prices mean smaller amounts of jewellery unlock bigger loans. In addition, RBI's crackdown on unsecured lending has pushed borrowers toward safer, collateral-backed products.&nbsp;And crucially, this isn't panic borrowing, but productive borrowing for funding small businesses, education and agriculture inputs. The old "gold loan for a crisis" script is being rewritten into "gold loan for growth."&nbsp;Also read: <a href="https://www.wionews.com/trending/man-from-year-3700-warns-of-apocalyptic-war-with-robots-1783492147310">Man claims he travelled to year 3700. Robots had killed 30% of humans. Here is what else he says he saw</a><h3>Two nations, one metal, opposite strategies</h3>Now over to China. It is a mirror image, at the sovereign scale. The People's Bank of China, or the PBOC, just booked its 20th straight month of gold buying, adding 480,000 troy ounces, or 14.93 tonnes, in June. That's China's largest single-month purchase since 2023. It is also the longest streak since 2015, taking reserves to roughly 2,346 tonnes.<h3>Beijing bets big as gold prices crash</h3>Tellingly, Beijing bought aggressively even as gold prices fell nearly 12 per cent in June. The latest decline marks the yellow metal's sharpest monthly drop since 2008. That trend shows a classic dip-buying by a reserve manager thinking in decades, not quarters.&nbsp;Bottom line: Indian households are unlocking dead capital for livelihoods, while China is hoarding it to dedollarise reserves. Same metal, two entirely different bets on the future.

Reserve Bank of India data shows loans against gold jewellery crossed 4 lakh crore rupees, or over $42 billion, by January this year. That is a 128 per cent year-on-year jump.

Gold is no longer just an heirloom in India; it's fast turning into working capital. On the other hand, Beijing is stockpiling it like never before. Two very different stories for one asset class. Gold loans surge, India's silent credit shift Let's start with India. Reserve Bank of India data shows loans against gold jewellery crossed 4 lakh crore rupees, or over $42 billion, by January this year. That is a 128 per cent year-on-year jump. Zoom out further, and new gold loan sourcing surged 91 per cent year-on-year in last year's December quarter alone, with active accounts crossing 90 million. Non-banking financial companies, or NBFCs, are the engine. Their gold loan books nearly doubled, up 96.5 per cent year-on-year, dwarfing the industry's 54.5 per cent growth. That shows NBFCs are riding India's gold-backed loan boom. South India leads, North is catching up fast Geography tells the real story. Tamil Nadu leads with 5.96 lakh crore rupees in outstanding gold loans, followed by Andhra Pradesh at 3.08 lakh crore rupees, then Karnataka, Telangana and Kerala. The five southern states are cornering nearly three-fourths of the entire market. But the map is shifting: Uttar Pradesh, Madhya Pradesh and Rajasthan are now emerging as high-growth frontiers. That is a clear sign gold-backed credit is going pan-India. From crisis cash to growth capital: Gold Why now? Elevated gold prices mean smaller amounts of jewellery unlock bigger loans. In addition, RBI's crackdown on unsecured lending has pushed borrowers toward safer, collateral-backed products. And crucially, this isn't panic borrowing, but productive borrowing for funding small businesses, education and agriculture inputs. The old "gold loan for a crisis" script is being rewritten into "gold loan for growth." Also read: Man claims he travelled to year 3700. Robots had killed 30% of humans. Here is what else he says he saw Two nations, one metal, opposite strategies Now over to China. It is a mirror image, at the sovereign scale. The People's Bank of China, or the PBOC, just booked its 20th straight month of gold buying, adding 480,000 troy ounces, or 14.93 tonnes, in June. That's China's largest single-month purchase since 2023. It is also the longest streak since 2015, taking reserves to roughly 2,346 tonnes. Beijing bets big as gold prices crash Tellingly, Beijing bought aggressively even as gold prices fell nearly 12 per cent in June. The latest decline marks the yellow metal's sharpest monthly drop since 2008. That trend shows a classic dip-buying by a reserve manager thinking in decades, not quarters. Bottom line: Indian households are unlocking dead capital for livelihoods, while China is hoarding it to dedollarise reserves. Same metal, two entirely different bets on the future.

Reserve Bank of India data shows loans against gold jewellery crossed 4 lakh crore rupees, or over $42 billion, by January this year. That is a 128 per cent year-on-year jump.

Are Indians finally monetising their gold?

Oil prices climbed sharply on Wednesday (Jul 8) after fresh US strikes on Iran reignited fears over the Strait of Hormuz, the vital, narrow waterway through which a huge share of global energy supplies moves. As markets opened, West Texas Intermediate, the US benchmark, rose 2.63 per cent to $72.29 a barrel. This followed a similar 2.76 per cent gain on Tuesday.The price rise came after the US military said its forces launched strikes on Iran following attacks on three commercial vessels in the Strait of Hormuz. The renewed fighting has once again put the world’s most important oil chokepoint under pressure.<h2>Explosions reported near key Iranian ports</h2>Iranian state media reported multiple explosions in and around the strait. The reports said there were six blasts on Qeshm island, seven in the city of Sirik and more near Bandar Abbas, one of Iran’s biggest ports.US Central Command said the strikes were meant to punish what it called Iranian attacks on commercial shipping and warned that such actions would carry high costs.Also read | <a href="https://www.wionews.com/world/us-iran-peace-deal-inside-the-14-point-mou-that-ended-over-108-days-of-war-wion-decodes-donald-trump-mojtaba-khamenei-benjamin-netanyahu-lebanon-1781513800001">US-Iran peace deal: Inside the 14-point MoU that ended over 108 days of war | WION Decodes</a>Iran, however, pushed back hard. Tehran's foreign ministry accused Washington of violating the memorandum of understanding between the two sides and warned that Tehran would respond."Iran is issuing a serious warning about the consequences of America's breach of the treaty, and will take decisive measures to protect its interests and national security," the ministry said in a statement carried by official media.<h2>Shipping risk returns to the centre of the crisis</h2>The latest attacks have brought back an old fear, disruption in the Strait of Hormuz.That fear had eased in recent weeks after maritime traffic started moving again under a fragile US-Iran agreement. But the calm did not last long.British maritime security agency UKMTO said an unknown projectile hit a tanker overnight, sparking a fire. Two more vessels were then struck, with at least one hit by a drone.Also read | <a href="https://www.wionews.com/india-news/can-india-withstand-another-west-asia-crisis-how-israel-hezbollah-iran-tensions-could-hit-its-energy-security-wion-decodes-1782374369218">Can India withstand another West Asia crisis? How Israel-Hezbollah-Iran tensions could hit its energy security | WION Decodes</a>All three ships were attacked near Oman, where a temporary transit corridor along the coastline had been proposed. Iran has opposed that route, insisting on control over the narrow passage and the fees linked to it.Qatar said one of the vessels was its LNG tanker Al-Rekayyat and blamed Iran for the attack. Doha later summoned Iran’s deputy ambassador and demanded an explanation."We hold Iran fully legally responsible for this attack and for any resulting damages or repercussions," Qatari foreign ministry spokesman Majed Al Ansari wrote on X. Iran rejected the accusation and said it was dismayed by Qatar’s remarks.

Oil prices are climbing again after fresh US strikes on Iran reignited tensions around the Strait of Hormuz. With attacks on commercial ships and fears of supply disruptions returning, markets are once again on edge. Scroll down to find out why crude is rising, and what happened in the Gulf.

Oil prices climbed sharply on Wednesday (Jul 8) after fresh US strikes on Iran reignited fears over the Strait of Hormuz, the vital, narrow waterway through which a huge share of global energy supplies moves. As markets opened, West Texas Intermediate, the US benchmark, rose 2.63 per cent to $72.29 a barrel. This followed a similar 2.76 per cent gain on Tuesday. The price rise came after the US military said its forces launched strikes on Iran following attacks on three commercial vessels in the Strait of Hormuz. The renewed fighting has once again put the world’s most important oil chokepoint under pressure. Explosions reported near key Iranian ports Iranian state media reported multiple explosions in and around the strait. The reports said there were six blasts on Qeshm island, seven in the city of Sirik and more near Bandar Abbas, one of Iran’s biggest ports. US Central Command said the strikes were meant to punish what it called Iranian attacks on commercial shipping and warned that such actions would carry high costs. Also read | US-Iran peace deal: Inside the 14-point MoU that ended over 108 days of war | WION Decodes Iran, however, pushed back hard. Tehran's foreign ministry accused Washington of violating the memorandum of understanding between the two sides and warned that Tehran would respond. "Iran is issuing a serious warning about the consequences of America's breach of the treaty, and will take decisive measures to protect its interests and national security," the ministry said in a statement carried by official media. Shipping risk returns to the centre of the crisis The latest attacks have brought back an old fear, disruption in the Strait of Hormuz. That fear had eased in recent weeks after maritime traffic started moving again under a fragile US-Iran agreement. But the calm did not last long. British maritime security agency UKMTO said an unknown projectile hit a tanker overnight, sparking a fire. Two more vessels were then struck, with at least one hit by a drone. Also read | Can India withstand another West Asia crisis? How Israel-Hezbollah-Iran tensions could hit its energy security | WION Decodes All three ships were attacked near Oman, where a temporary transit corridor along the coastline had been proposed. Iran has opposed that route, insisting on control over the narrow passage and the fees linked to it. Qatar said one of the vessels was its LNG tanker Al-Rekayyat and blamed Iran for the attack. Doha later summoned Iran’s deputy ambassador and demanded an explanation. "We hold Iran fully legally responsible for this attack and for any resulting damages or repercussions," Qatari foreign ministry spokesman Majed Al Ansari wrote on X. Iran rejected the accusation and said it was dismayed by Qatar’s remarks.

Oil prices are climbing again after fresh US strikes on Iran reignited tensions around the Strait of Hormuz. With attacks on commercial ships and fears of supply disruptions returning, markets are once again on edge. Scroll down to find out why crude is rising, and what happened in the Gulf.

Oil prices jump by 2.63% as fresh US strikes on Iran shake up Strait of Hormuz again

The US Cybersecurity and Infrastructure Security Agency (CISA), is using Anthropic's AI model Mythos to audit government software, Reuters has reported, citing three people familiar with the matter. This is interesting given the tussles between the Trump administration and Anthropic, the firm behind the popular Claude AI models. CISA is using Mythos to scan government code repositories for bugs that could leave the door open for foreign spies and cybercriminals, according to the report.<h2>Why is the US government using Anthropic's coding agent significant? The political irony</h2>It's interesting that the agency is using the controversial Mythos, not the regular Claude model for the audit, as per the report. Mythos has demonstrated the ability to find, exploit and fix cybersecurity vulnerabilities, including those in the financial and banking sectors. Upon its release, Mythos was immediately restricted for use only by approved organisations. The political irony is not lost on anyone. Just three months ago, the Pentagon had slapped Anthropic with a supply-chain risk designation. A judge later blocked the blacklisting in March. Mythos has not yet been released to the public.Axios, meanwhile, had reported that the US intelligence agency, the National Security Agency (NSA), had been using Mythos as of April despite the blacklist. The New York Times reported in late June that NSA analysts testing it in classified settings were impressed by its performance.In short, the US security establishment is quietly embracing the very company that the Trump administration had tried to blacklist.Also read: <a href="https://www.wionews.com/world/they-showed-us-what-it-could-do-and-it-s-scary-congressman-andrew-garbarino-on-anthropic-mythos-model-demo-claude-ai-news-1782552364247">'They showed us what it could do, and it's scary': Congressman on Anthropic Mythos model demo</a><h2>Which websites are included for Anthropic code-checking?</h2>The Reuters report said the Anthropic AI model would be used for auditing government code repositories, not websites as such. The task is being carried out by CISA's Attack Surface Evaluation (ASE) team, which conducts digital security assessments and authorised hacking exercises across government systems. It is not clear exactly how much government code the team has reviewed or the nature and severity of the vulnerabilities it has discovered. Nor have CISA or Anthropic disclosed which government departments or websites are included in the programme.<a href="https://www.wionews.com/videos/us-lifts-export-curbs-on-anthropic-s-fable-and-mythos-ai-models-1782909734073/embed">https://www.wionews.com/videos/us-lifts-export-curbs-on-anthropic-s-fable-and-mythos-ai-models-1782909734073/embed</a><h2>Finance, business and economy relevance</h2>The ASE team works across the federal government. Therefore, it would be reasonable to assume that systems operated by the Department of the Treasury, the Securities and Exchange Commission (SEC), the Internal Revenue Service (IRS) and the Department of Commerce could potentially fall within the scope of these audits, although the Reuters story does not specifically mention any of these agencies. Notably, in February, the Treasury, State and Health and Human Services Departments issued statements confirming compliance with the government directive at the time to phase out Anthropic tools following government order.Also read: <a href="https://www.wionews.com/technology/from-mythos-to-reality-anthropic-launches-claude-fable-5-its-most-powerful-public-ai-model-1781035985872">From Mythos to reality: Anthropic launches Claude Fable 5, its most powerful public AI model</a><h2>Is the US government admitting that its code needs fixing?</h2>The sources cited by Reuters said the audits had already uncovered a large number of vulnerabilities. However, this should not be interpreted as an admission that government software is fundamentally broken. Large organisations routinely conduct code audits because legacy software, outdated libraries and coding errors inevitably accumulate over time. AI is now making it significantly easier to identify bugs and security vulnerabilities in large volumes of legacy code at scale, allowing agencies to fix weaknesses before they can be exploited by foreign adversaries or cybercriminals.

CISA, the US cybersecurity agency, is using Anthropic's unreleased Mythos AI to audit US government code repositories for cybersecurity flaws. This is a major shift in federal AI adoption despite earlier Trump-era restrictions against Anthropic.

The US Cybersecurity and Infrastructure Security Agency (CISA), is using Anthropic's AI model Mythos to audit government software, Reuters has reported, citing three people familiar with the matter. This is interesting given the tussles between the Trump administration and Anthropic, the firm behind the popular Claude AI models. CISA is using Mythos to scan government code repositories for bugs that could leave the door open for foreign spies and cybercriminals, according to the report. Why is the US government using Anthropic's coding agent significant? The political irony It's interesting that the agency is using the controversial Mythos, not the regular Claude model for the audit, as per the report. Mythos has demonstrated the ability to find, exploit and fix cybersecurity vulnerabilities, including those in the financial and banking sectors. Upon its release, Mythos was immediately restricted for use only by approved organisations. The political irony is not lost on anyone. Just three months ago, the Pentagon had slapped Anthropic with a supply-chain risk designation. A judge later blocked the blacklisting in March. Mythos has not yet been released to the public. Axios, meanwhile, had reported that the US intelligence agency, the National Security Agency (NSA), had been using Mythos as of April despite the blacklist. The New York Times reported in late June that NSA analysts testing it in classified settings were impressed by its performance. In short, the US security establishment is quietly embracing the very company that the Trump administration had tried to blacklist. Also read: 'They showed us what it could do, and it's scary': Congressman on Anthropic Mythos model demo Which websites are included for Anthropic code-checking? The Reuters report said the Anthropic AI model would be used for auditing government code repositories, not websites as such. The task is being carried out by CISA's Attack Surface Evaluation (ASE) team, which conducts digital security assessments and authorised hacking exercises across government systems. It is not clear exactly how much government code the team has reviewed or the nature and severity of the vulnerabilities it has discovered. Nor have CISA or Anthropic disclosed which government departments or websites are included in the programme. https://www.wionews.com/videos/us-lifts-export-curbs-on-anthropic-s-fable-and-mythos-ai-models-1782909734073/embed Finance, business and economy relevance The ASE team works across the federal government. Therefore, it would be reasonable to assume that systems operated by the Department of the Treasury, the Securities and Exchange Commission (SEC), the Internal Revenue Service (IRS) and the Department of Commerce could potentially fall within the scope of these audits, although the Reuters story does not specifically mention any of these agencies. Notably, in February, the Treasury, State and Health and Human Services Departments issued statements confirming compliance with the government directive at the time to phase out Anthropic tools following government order. Also read: From Mythos to reality: Anthropic launches Claude Fable 5, its most powerful public AI model Is the US government admitting that its code needs fixing? The sources cited by Reuters said the audits had already uncovered a large number of vulnerabilities. However, this should not be interpreted as an admission that government software is fundamentally broken. Large organisations routinely conduct code audits because legacy software, outdated libraries and coding errors inevitably accumulate over time. AI is now making it significantly easier to identify bugs and security vulnerabilities in large volumes of legacy code at scale, allowing agencies to fix weaknesses before they can be exploited by foreign adversaries or cybercriminals.

CISA, the US cybersecurity agency, is using Anthropic's unreleased Mythos AI to audit US government code repositories for cybersecurity flaws. This is a major shift in federal AI adoption despite earlier Trump-era restrictions against Anthropic.

US cybersecurity agency is reportedly using Anthropic's Mythos for auditing govt code. What does it mean?

Microsoft has announced a fresh round of layoffs, affecting nearly 4,800 employees worldwide or around 2.1 per cent of the company's global workforce. The job cuts include a substantial reduction in the Xbox gaming division of the company, which is undertaking a broader restructuring. The latest downsizing comes as the company reshapes its Xbox business strategy in response to growing challenges in the gaming console market.&nbsp;The move will significantly impact Microsoft's gaming business as nearly 1,600 Xbox employees have already been affected, and Microsoft has highlighted that further job cuts are likely during the ongoing fiscal year. In response to the development, Xbox CEO Asha Sharma, who is in charge of the gaming division, stated that the restructuring is focused on resetting the business.&nbsp;Also read: <a href="https://www.wionews.com/photos/suicide-manoeuvre-what-b-52-pilots-must-do-in-the-4-minutes-after-dropping-a-nuclear-bomb-to-survive-1783376909667">'Suicide Manoeuvre': What B-52 pilots must do in the 4 minutes after dropping a nuclear bomb to survive</a> "Our business today is not healthy," Sharma said in a memo. "We are operating at margins that are 3-10x lower than comparable platform and publishing businesses." She also underscored the increasing pressure on the gaming hardware business.<h3>Xbox job cuts&nbsp;</h3>The Xbox job cuts are part of a broader round of layoffs at Microsoft. Chief People Officer Amy Coleman said the move is aimed at aligning the company's workforce with evolving customer needs, rather than replacing employees with artificial intelligence.&nbsp;The latest layoffs follow Microsoft's voluntary buyout programme launched in May, which was offered to about 8,750 employees. Coleman said more than 30 per cent of eligible staff accepted the retirement packages. The fresh round of job cuts comes as Microsoft presses ahead with its ongoing workforce restructuring.

The move will significantly impact Microsoft's gaming business as nearly 1,600 Xbox employees have already been affected, and Microsoft has highlighted that further job cuts are likely during the ongoing fiscal year. 

Microsoft has announced a fresh round of layoffs, affecting nearly 4,800 employees worldwide or around 2.1 per cent of the company's global workforce. The job cuts include a substantial reduction in the Xbox gaming division of the company, which is undertaking a broader restructuring. The latest downsizing comes as the company reshapes its Xbox business strategy in response to growing challenges in the gaming console market. The move will significantly impact Microsoft's gaming business as nearly 1,600 Xbox employees have already been affected, and Microsoft has highlighted that further job cuts are likely during the ongoing fiscal year. In response to the development, Xbox CEO Asha Sharma, who is in charge of the gaming division, stated that the restructuring is focused on resetting the business. Also read: 'Suicide Manoeuvre': What B-52 pilots must do in the 4 minutes after dropping a nuclear bomb to survive "Our business today is not healthy," Sharma said in a memo. "We are operating at margins that are 3-10x lower than comparable platform and publishing businesses." She also underscored the increasing pressure on the gaming hardware business. Xbox job cuts The Xbox job cuts are part of a broader round of layoffs at Microsoft. Chief People Officer Amy Coleman said the move is aimed at aligning the company's workforce with evolving customer needs, rather than replacing employees with artificial intelligence. The latest layoffs follow Microsoft's voluntary buyout programme launched in May, which was offered to about 8,750 employees. Coleman said more than 30 per cent of eligible staff accepted the retirement packages. The fresh round of job cuts comes as Microsoft presses ahead with its ongoing workforce restructuring.

The move will significantly impact Microsoft's gaming business as nearly 1,600 Xbox employees have already been affected, and Microsoft has highlighted that further job cuts are likely during the ongoing fiscal year.&nbsp;

Microsoft lay off 4,800 employees as Xbox gaming division undergoes major restructuring

Virtuoso Music, the UK-headquartered music company, has officially announced its expansion into the Indian market. The move marks the firm's first major footprint in South Asia as it looks to establish a comprehensive presence across the music value chain, encompassing original music creation, rights management, artist development, and global distribution.&nbsp;Rather than traditional industry frameworks, Virtuoso is introducing a "creator-first" structural model designed to directly align the financial and creative interests of artists with their industry partners. Under this setup, songwriters, producers, and performers will receive a direct share in the commercial success and performance revenue of their tracks. The company believes this transparent, equity-style framework will cultivate stronger creative relationships, incentivise long-term talent investments, and build a more sustainable foundation for collaborators.&nbsp;Sahaj Miya, Head of New Business and Music at Virtuoso Music, highlighted the immense potential of the local ecosystem, "India is one of the most exciting music markets in the world, with genuinely world-class music talent. The opportunity is extraordinary, and we are here to build something that matches it. We believe the future of the music ecosystem lies in ensuring that the people who create music have a genuine share in the success of their work."&nbsp;Beyond production and immediate rights administration, Virtuoso plans to make heavy baseline investments in marketing and release infrastructure. The company intends to aggressively leverage diverse monetization channels—such as sync licensing, commercial brand partnerships, and media placements—to scale the reach of Indian music both domestically and internationally. Existing rights holders will also be able to tap into Virtuoso's global distribution network for catalogue management.&nbsp;The firm’s first slate of original Indian projects is already underway, focusing heavily on regional and mainstream demand. Initial musical releases are being produced in Hindi, Punjabi, Tamil, and Telugu, and are slated to debut early next year. Virtuoso is expected to officially unveil its first roster of local artist signings and industry partnerships in the coming months.

Virtuoso Music is introducing an integrated, artist-centric business model that guarantees creators a direct financial stake in the commercial performance of their work.

Virtuoso Music, the UK-headquartered music company, has officially announced its expansion into the Indian market. The move marks the firm's first major footprint in South Asia as it looks to establish a comprehensive presence across the music value chain, encompassing original music creation, rights management, artist development, and global distribution. Rather than traditional industry frameworks, Virtuoso is introducing a "creator-first" structural model designed to directly align the financial and creative interests of artists with their industry partners. Under this setup, songwriters, producers, and performers will receive a direct share in the commercial success and performance revenue of their tracks. The company believes this transparent, equity-style framework will cultivate stronger creative relationships, incentivise long-term talent investments, and build a more sustainable foundation for collaborators. Sahaj Miya, Head of New Business and Music at Virtuoso Music, highlighted the immense potential of the local ecosystem, "India is one of the most exciting music markets in the world, with genuinely world-class music talent. The opportunity is extraordinary, and we are here to build something that matches it. We believe the future of the music ecosystem lies in ensuring that the people who create music have a genuine share in the success of their work." Beyond production and immediate rights administration, Virtuoso plans to make heavy baseline investments in marketing and release infrastructure. The company intends to aggressively leverage diverse monetization channels—such as sync licensing, commercial brand partnerships, and media placements—to scale the reach of Indian music both domestically and internationally. Existing rights holders will also be able to tap into Virtuoso's global distribution network for catalogue management. The firm’s first slate of original Indian projects is already underway, focusing heavily on regional and mainstream demand. Initial musical releases are being produced in Hindi, Punjabi, Tamil, and Telugu, and are slated to debut early next year. Virtuoso is expected to officially unveil its first roster of local artist signings and industry partnerships in the coming months.

Virtuoso Music is introducing an integrated, artist-centric business model that guarantees creators a direct financial stake in the commercial performance of their work.

UK's Virtuoso Music enters India, launches 'Creator-First' model for regional and global markets