OpenAI has officially launched its India unit, with plans to open an office in New Delhi and begin local hiring. CEO Sam Altman emphasized India’s role in global AI leadership, citing its tech talent, developer ecosystem, and government support through the IndiaAI Mission. India is now ChatGPT’s second-largest market, with weekly active users quadrupling in the past year. OpenAI’s initiatives include ChatGPT Go (₹399/month), OpenAI Academy, enhanced Indic language support, and Study Mode. The company aims to build AI “for India, with India,” and will host its first Education Summit and Developer Day in the country. Local partnerships and accessibility remain central to its expansion strategy. (PC: Fortune)

Apple will produce all iPhone 17 models in India ahead of their September launch, including the Pro versions, for the US market. This is the first time all new iPhones will ship from India at launch. The company now operates five factories in India, including new plants in Tamil Nadu and Bangalore, with Tata Group emerging as a key partner. Apple exported $7.5 billion worth of iPhones from India between April and July, nearly half of last year’s total exports. The shift comes as Apple reduces reliance on China due to tariffs, trade tensions, and supply chain risks. (PC: X)

Chinese toy maker Pop Mart, creator of the “ugly-cute” Labubu dolls, has reported a nearly 400% jump in profits in the first half of 2025. Net profit rose to 4.6bn yuan (£474m) as global demand surged, with sales reaching 13.9bn yuan. Labubu, part of The Monsters series, is loved by stars like David Beckham, Rihanna, and Paris Hilton. Shares in Pop Mart have climbed over 230% this year, making it more valuable than Mattel, Sanrio, and Hasbro combined. The company now plans rapid global expansion, including more US stores, while warning buyers against unsafe fake Labubu dolls. (PC: Reuters)

U.S. Secretary of State Marco Rubio defended Washington’s decision to spare China from sanctions over Russian oil, citing fears of global energy disruption, while doubling tariffs on India to 50% for continuing purchases from Moscow. Rubio said India’s imports help sustain Russia’s war effort and are a sore point in bilateral ties. European nations opposed a proposed 100% tariff on both India and China. Despite Trump’s threats, India has not paused its Russian oil trade and accused the U.S. of hypocrisy. Trump claimed his tariffs pressured Russia into talks, though India dismissed this. A U.S. trade delegation’s visit to India may be delayed, complicating negotiations ahead of the August 27 tariff hike. (PC: The New York Times)

Aravind Srinivas, an Indian-origin CEO of Perplexity AI, has submitted an unsolicited all-cash bid of $34.5 billion (over ₹3.02 lakh crore) to acquire Google Chrome from Alphabet’s CEO, Sundar Pichai . The bold move comes as regulators consider compelling Google to divest Chrome amid antitrust scrutiny . Perplexity pledges to keep Chromium open-source, retain Google's default search engine setting, invest $3 billion over two years, and retain existing Chrome staff . Though the offer significantly exceeds Perplexity’s own valuation, analysts view it as a strategic media salvo rather than a likely acquisition. (PC: Instagram)

Aravind Srinivas, an Indian-origin CEO of Perplexity AI, has submitted an unsolicited all-cash bid of $34.5 billion (over ₹3.02 lakh crore) to acquire Google Chrome from Alphabet’s CEO, Sundar Pichai . The bold move comes as regulators consider compelling Google to divest Chrome amid antitrust scrutiny . Perplexity pledges to keep Chromium open-source, retain Google's default search engine setting, invest $3 billion over two years, and retain existing Chrome staff . Though the offer significantly exceeds Perplexity’s own valuation, analysts view it as a strategic media salvo rather than a likely acquisition.

U.S. President Donald Trump ended a week of market chaos by declaring gold imports “will not be Tariffed,” easing fears of a potential 39% levy. Confusion began after a July 31 U.S. Customs ruling suggested widely traded bullion bars could face duties under Trump’s “reciprocal” tariff framework, driving futures to record highs. The uncertainty rattled global supply chains, particularly Switzerland’s gold exports to the U.S. Following Trump’s post on Truth Social, U.S. gold futures fell 2.4% to $3,407 per ounce, while spot prices dropped 1.2% to $3,357. Analysts said the announcement brought “enormous relief” to the jittery bullion markets. (PC: X)

Despite over a decade of the ‘Make in India’ initiative, India remains heavily reliant on Chinese imports, especially for upstream components like electronics, solar cells, and electric batteries. A report by the Hinrich Foundation reveals that while India has made progress in assembling products, its dependence on Chinese raw materials and technology persists. In FY 2024–25, India’s trade deficit with China hit a record $99.2 billion, with imports rising to $113.5 billion and exports falling to just $14.3 billion. Prime Minister Modi’s push for manufacturing self-reliance faces structural challenges, as the Production Linked Incentive (PLI) scheme struggles to offset China’s dominance. The gap between policy ambition and economic reality continues to widen. (PC: Foreign Policy & NDTV)

Moody’s has warned that US President Donald Trump’s decision to double tariffs on Indian goods to 50% could derail India’s manufacturing ambitions and slow GDP growth by 0.3 percentage points from the projected 6.3% for FY2025–26. The tariff hike, imposed over India’s continued import of Russian oil, places Indian exports at a steep disadvantage compared to other Asia-Pacific nations. Moody’s cautioned that the widened tariff gap may reverse recent investment gains, especially in high-value sectors like electronics. While India’s strong domestic demand and forex reserves may cushion the blow, foreign investors have already pulled $900 million from Indian equities in August. The Reserve Bank of India has maintained a neutral stance amid rising trade uncertainty. (PC: NBC & Al Jazeera)

Major US retailers Amazon, Walmart, Target have halted orders from Indian suppliers following President Donald Trump’s decision to double tariffs on Indian goods to 50%. Exporters received formal notices urging them to pause apparel and textile shipments, as buyers refuse to absorb the increased costs. The tariff hike, linked to India’s continued import of Russian oil, is expected to raise export costs by 30–35%, potentially causing a 40–50% drop in US-bound orders and a $4–5 billion revenue loss. Key exporters like Welspun Living, Indo Count, Trident, and Gokaldas Exports, which rely heavily on US sales, are severely impacted. India remains firm, vowing not to compromise on national interests despite mounting trade pressure. (PC: The Times Of India & NDTV)