The Prime Minister’s Office will convene a high-level meeting on August 26 to address the impact of the U.S. doubling tariffs to 50% on Indian exports. Chaired by the Principal Secretary, the session will explore targeted support for vulnerable sectors like textiles, leather, engineering goods, and specialty chemicals. Exporters have requested collateral-free credit lines under the Emergency Credit Line Guarantee Scheme, but officials lean toward sector-specific aid. Micro and small firms are pushing for cluster-based working capital solutions. The move follows concerns that the tariff hike linked to India’s continued purchase of Russian oil that could severely strain margins, disrupt supply chains, and erode competitiveness.

Amid Donald Trump’s escalating trade war China has pivoted sharply from U.S. soybean imports to Brazil, straining American farmers. In July, China imported 420,873 tonnes from the U.S, (down to 11.47% year-on-year) while Brazil supplied nearly 90% of China’s total soybean imports. China has halted forward purchases from the U.S. for September and October, despite paying higher rates to Brazil. This shift follows Xi Jinping’s pledge to support Brazil’s “legitimate rights and interests” after a call with President Lula. U.S. farmers facing billions in losses have warned Trump they “cannot survive a prolonged trade dispute.” China currently imposes a 20% tariff on U.S. goods, intensifying BRICS efforts to reduce American dependence.(PC: NBC & AFP)

Reyo Augustine, a former Indian Air Force pilot with over 750 flying hours who led missions of up to 60 aircraft and even piloted leaders including the President and Prime Minister, pivoted to entrepreneurship in May 2025. Inspired to bring world-class endurance races to India, he enrolled in LaunchPilot’s Global Startup MBA. The program’s hands-on mentorship, global immersions, and outcome-first approach enabled him to form a core team, secure a venue for his first event in February 2026, and initiate talks with Kerala Tourism and M.S. Dhoni’s family office. LaunchPilot, founded in 2023, has trained 150+ students, 60–70 of whom are now building their own startups. (PC: Startuppedia)  

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)