Gwalior, located in the Indian state of Madhya Pradesh, will be hosting a two-day Regional Tourism Conclave on August 29 and 30 in order to promote tourism investment in the Gwalior-Chambal region. The event will see the participation of tour and travel operators, hotel and entertainment industry representatives, and government officials, including Chief Minister Mohan Yadav and Union Minister Jyotiraditya Scindia. Guests will also be treated to traditional dishes from the region, with a special focus on showcasing the rich cultural heritage and flavors of Gwalior Chambal.
Rahul Dravid, who joined Rajasthan Royals last year as their head coach, will be stepping down from the role ahead of IPL 2026. The franchise expressed their gratitude towards him, stating that his presence in 'pink' had inspired both young and seasoned players. In an official statement, Rajasthan Royals also mentioned that Dravid had been offered a broader role within the organization, but he declined it.
Reliance Jio, the telecom arm of Reliance Industries Ltd, announced its plans to file for an IPO during their annual general meeting. Set to go public by the first half of 2026, the firm aims to raise over Rs 52,000 crore and has the potential to hit a valuation of over $154 billion. Along with its ambitious plans to connect every Indian on mobile and digitize businesses and enterprises, the company is also looking to expand its operations globally. RIL's shift to becoming a Deep-Tech company with a focus on innovation is also attracting young leaders to drive the next wave of value creation.
At the annual general meeting of RIL, chairman Mukesh Ambani announced the launch of Reliance Intelligence, a new subsidiary dedicated to providing large-scale AI infrastructure. With a focus on accessibility, the company plans to build gigawatt-scale AI-ready data centres powered by green energy. This move has the potential to make India a major player in the AI arms race, with RIL's resources and reach as a notable advantage. Additionally, this could position India as a third hub of innovation, beyond the US and China, as the company aims to create AI models trained on diverse Indian contexts to address unique local needs.
According to RIL Chairman Mukesh Ambani, Reliance Jio, the telecom arm of Reliance Industries Ltd, is planning to file for India's largest initial public offering in the first half of 2026. The IPO is expected to raise around Rs 52,000 crore, making it the country's largest-ever public offering. Ambani also shared his ambitious plans for Jio's future, including expanding operations outside India and making the company AI-native. However, RIL shares witnessed a slight dip in trading on Friday.
Crompton Greaves Consumer Electricals Ltd. unveils its latest innovation, the Solarium Blaze, in response to the growing concern of hard water in Indian homes. With a stunning design and robust Anti-Scale Technology, this water heater is equipped to combat the challenges of hard water, making it 'Designed to Impress, Built to Endure'. Its purposeful design and 3kW power wattage make it the perfect addition to modern homes, providing rapid and efficient heating even during the monsoon season. With a 3-litre capacity, it caters to the needs of compact urban homes, making it a must-have for every household.
The Indian business community was concerned after rumours of Ratan Tata's critical health surfaced on social media. However, the 86-year-old businessman clarified that these claims were unfounded and that he was currently undergoing routine medical check-ups due to ageing. Despite his health issues, Tata continues to participate in social life to the best of his ability, as seen through his recent Instagram post debunking the rumours and his congratulatory message to the Prime Minister on the 10-year anniversary of programs benefitting rural India.
Trent, backed by Tata, saw a promising start in the stock market today with a slight increase and subsequent decrease. However, the opening of its first Burnt Toast store in Surat, Gujarat shows the company's expansion into new markets. This, along with solid financial numbers in the first quarter, including a 38% jump in operating profit, indicate Trent's success in managing costs and meeting customer needs.
Gumroad CEO Sahil Lavingia discusses the unique approach of the platform, which prioritizes convenience and freedom for creators rather than rapid growth and profits. Lavingia's philosophy challenges the traditional methods used by other platforms and instead focuses on providing creators with a simple, easy-to-use sales tool. Despite criticism from investors, Lavingia stands by his belief that in the long run, creators should choose a platform that aligns with their own beliefs and values. As the creator economy continues to grow, Gumroad's unconventional approach may prove to be successful after all.
The Central Government is proposing significant tax reductions under the ongoing GST reform, including lowering the GST on cars with engine capacity below 1,800 cc from 28% to 18%. The uniform 5% GST rate for all food items and textiles is also under consideration. However, this has raised revenue concerns for states like Kerala, which could see an annual loss of up to ₹10,000 crore due to the proposed changes. While business and trade sectors welcome the potential decrease in prices, there is a need for the Centre to ensure protection of state revenues to avoid only benefiting consumers without any reduction in retail prices. The final decisions on these matters will be made by the GST Council during their meeting on September 3 and 4.