A tribute to India’s artisans; Amazon India cuts FY25 loss
Union Minister of Commerce and Industry Piyush Goyal on Wednesday unveiled India Handpicked, a book co-authored by Shradha Sharma, Founder and CEO of YourStory and The Bharat Project, and Chhavi Mahajan in Mumbai. The launch also saw participation from Sumeet Jarangal, Director, DPIIT.
Hello,
It’s a party at the bourses.
Urban Company’s shares surged on their stock market debut on Wednesday, listing at more than a 57% premium to the IPO price, after drawing frenzied demand in the primary market. The Gurugram-based home services platform’s shares settled 64% higher from the issue price at Rs 169 per share on the NSE.
The company’s m-cap surged to Rs 24,266 crore (nearly $3 billion).
Meanwhile, Bengaluru startups seem to be having a tough time.
Online trucking platform BlackBuck’s co-founder and CEO Rajesh Yabaji announced that the company will relocate from its office on Bengaluru’s Outer Ring Road, citing commuting difficulties and poor road infrastructure. Earlier, Capitalmind CEO Deepak Shenoy had also flagged the worsening condition of Bengaluru’s roads.
In response, the state government has set a November deadline to improve the conditions.
The city still retains its premier position as a GCC hub to drive domain-specialised innovation. Rolls-Royce inaugurated a new 700-seater GCC in Bengaluru, described as the company’s largest and most advanced facility worldwide.
Elsewhere, a team of scientists from the UK and Chile is taking the help of machine learning algorithms to design a new type of self-healing asphalt that can mend its own cracks without the need for human intervention.
Better roads. Intelligent roads.
In today’s newsletter, we will talk about
- A tribute to India’s artisans
- Amazon India cuts FY25 loss
- Guilt-free tasty snacks
Here’s your trivia for today: Which city is also called as ‘Silver City’ of India?
Social impact
A tribute to India’s artisans
Union Minister of Commerce and Industry Piyush Goyal on Wednesday unveiled India Handpicked, a book co-authored by Shradha Sharma, Founder and CEO of YourStory and The Bharat Project, and Chhavi Mahajan in Mumbai. The launch also saw participation from Sumeet Jarangal, Director, Department for Promotion of Industry and Internal Trade (DPIIT).
The book spotlights the Government of India’s One District One Product (ODOP) initiative and the country’s diverse craft traditions.
Tradition:
- According to official data, ODOP has so far identified 1,102 products across 761 districts, many of which are GI-tagged and export-ready.
- Goyal said wider adoption of ODOP products can transform livelihoods by generating jobs and income for millions of artisans.
- The activities undertaken by the ODOP initiative include a Mango Festival of India in Japan in 2022, in collaboration with the Embassy of India in Tokyo and Sui Dhaaga, the India-Russia buyer-seller meet for textile products in 2021.
Funding Alert
Startup: EvoluteIQ
Amount: $53M
Round: Equity
Startup: FinBox
Amount: $40M
Round: Series B
Startup: EcoSoul Home
Amount: $20M
Round: Equity and debt
Ecommerce
Amazon India drastically cuts FY25 loss
Amazon Seller Services, Amazon’s marketplace operator in India, has managed to pull off quite a balancing act, posting a 19% year-on-year increase in revenue for the fiscal year ended March 31, 2025, while also sharply reducing its net loss.
The company reported revenue of Rs 30,139 crore, compared with Rs 25,406 crore a year earlier.
Key takeaways:
- Net loss narrowed 89% to Rs 374.3 crore from Rs 3,469.5 crore in FY24, aided by stronger cash flows, higher revenue recognition, and tighter spending discipline.
- Total expenses amounted to Rs 30,865.5 crore, including delivery charges of Rs 8,336.7 crore. Professional services fees stood at Rs 3,794.7 crore, while advertising, communications and payment processing also remained significant.
- These costs, however, grew more slowly than revenue, reflecting efforts to rein in promotions and improve logistics and outsourcing efficiency.
Startup
Guilt-free tasty snacks
For most Indians looking for healthy snacks, the choice is frustratingly limited: either tasty treats loaded with empty calories or “guilt-free” options so bland they’re abandoned within a week. As a triathlete and fitness enthusiast, Siddarth CS experienced this firsthand. “The diets recommended to athletes were boring and functional.”
Chennai-based D2C startup Wild Date focuses on clean eating, offering snack bars, granolas, cookies, and bite-sized balls made from natural ingredients and no refined sugar.
News & updates
- New age: Artificial intelligence could boost the value of trade in goods and services by nearly 40% by 2040, but without adequate policies, it could also exacerbate economic divides, a new World Trade Organization report warned on Wednesday.
- Data centre: China Unicom has built a massive data centre powered by domestically developed AI chips from Alibaba and other companies, state broadcaster CCTV said, as Beijing seeks to wean itself off foreign technologies.
- AI agents: Amazon is introducing an always-on AI agent that will help sellers on its platform run their businesses. The company is updating Seller Assistant, its AI tool for third-party sellers, to help handle tasks on the seller’s behalf.
Which city is also called as ‘Silver City’ of India?
Answer: Cuttack. It earned this nickname due to its ancient tradition and skill in producing intricate silver filigree (Tarakasi) work.
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