Indian grocery delivery startup Zepto has raised $200 million in fresh funding at a $1.4 billion valuation, becoming the first Indian unicorn in nearly a year. The Mumbai-based startup, founded in 2021 by two 19-year-old Stanford dropouts, promises 10-minute grocery deliveries. The funding round was led by US firms StepStone Group and Goodwater Capital. Existing investors including Nexus Venture Partners also participated. Zepto will use the funds to expand operations in seven Indian cities where it already makes $50-60 million in monthly revenue. The quick commerce sector is heating up with Zepto competing against SoftBank-backed Swiggy and Blinkit.

PM Modi said India has moved from "red tape to red carpet", enabling unfettered FDI inflows over the last 9 years at the G20 Trade and Investment Ministerial meeting on Thursday. He urged G20 countries to build an inclusive, resilient global value chain. PM stated initiatives like Make in India and Atmanirbhar Bharat have spurred manufacturing and brought policy stability. He affirmed his commitment to make India the 3rd biggest global economy soon. PM added that reforms, performance, and transformation under NDA rule have made India the 5th largest economy and a hub of openness and opportunities.

To tackle workforce shortages, Singapore has expanded hiring options to include Indian cooks for hospitality sector jobs. Previously, work permits predominantly went to those from countries like China, Malaysia and Taiwan. Now, Indian cooks can be recruited along with roles like housekeepers to broaden the talent pool for Singapore's services and manufacturing industries facing staffing shortfalls. Businesses can apply starting 1 September to hire Indian cooks, a non-traditional source, specifically for Indian restaurants. This provides new hiring avenues whilst addressing the hospitality sector's staffing needs amid tight labour conditions.

Ajay Banga, President of the World Bank, has been named a "Great Immigrant" by the Carnegie Corporation of New York. As the first Indian American to lead the institution, he is recognized for enriching and strengthening America. With extensive experience, Banga aims to combat poverty and address climate change. The honourees emphasize the role of naturalized citizens in shaping America's success.