Ronnie Screwvala has an issue with AI panic; PhysicsWallah’s hybrid model

Hello,

The GST reforms have already started kicking in.

Automakers are rushing in to pass on GST benefits to their consumers, including Mahindra & Mahindra, which announced that its ICE portfolio has become cheaper by up to Rs 1.5 lakh ahead of the new tax brackets kicking in. Hyundai Motor India has also confirmed that its cars will be more affordable by up to Rs 2.4 lakh.

But not everyone’s celebrating. 

Food delivery is going to cost more with 18% GST on delivery charges. Estimates suggest that the additional burden will add roughly Rs 2 per Zomato order and Rs 2.6 for Swiggy customers.

Overall, the reforms are expected to have a positive impact on national consumption, according to a Crisil Intelligence report. Indian companies are expected to witness a 6-7% rise in revenue in FY26.

The government may lose Rs 48,000-crore in collections, but Finance Minister Nirmala Sitharaman said that higher consumption due to lower taxes will improve income buoyancy, which will bridge the gap.

Also, did you see the moon last night? The lunar eclipse turned the moon blood red for an hour and 22 minutes!

Take a peek at the pictures.

In today’s newsletter, we will talk about 

• Ronnie Screwvala on AI
• PhysicsWallah’s hybrid model

Here’s your trivia for today: Which was the first Indian film to incorporate playback singing?

Interview

Ronnie Screwvala talks AI

Artificial Intelligence is not a curiosity to be bookmarked for later. As Ronnie Screwvala, Co-founder and Chairman of higher education and upskilling platform upGrad, puts it, AI is a “permanent shift” that will reorder what counts as valuable work, how learning is delivered, and who gets access to expertise. 

In a conversation with YourStory, Screwvala explains how a permanent AI shift could democratise learning and health services, rewrite hiring and skilling needs, elevate hackathons and incubation, and push governments and businesses to incentivise lifelong learning and regain focus.

Excerpts:

• “Traditional teaching works in small classrooms where a professor can manage discussions and doubts. But online, when you go from hundreds to thousands, the model breaks. We need more active learning, where students engage with each other, peer answers matter, and feedback loops exist even at scale,” says Screwvala.
• The entrepreneur sees a rise in self-employment as AI becomes more prevalent. He believes many people who once relied on being hired for routine tasks will find it easier to use AI tools to work independently.
• “If you ask me to pick one skill that will really matter, it’s focus. The power of non-distraction. Real success has always come with focus, and that will be even more important now,” he adds.

Edtech

PhysicsWallah’s hybrid model

From YouTube lessons to a Rs 3,000-crore revenue enterprise headed for an initial public offering (IPO), PhysicsWallah (PW) has joined the small group of Indian edtech firms that have reached this scale, driven by both its online engine and a fast expansion of offline and hybrid centres.

Key takeaways: 

• PW has filed an updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India for an IPO worth Rs 3,820 crore.
• In fiscal year 2025, the company reported an operating revenue of Rs 2,886.6 crore, almost 49% higher than the year before. It also generated Rs 506.9 crore in operating cash flow and posted an adjusted operating profit of Rs 432 crore, giving it a margin of nearly 15%.
• PW’s user base underlines the contrast between scale and yield. About 4.13 million students paid for online courses in FY25 compared with roughly 0.33 million enrolled in offline centres.

News & updates

• Connectivity issues: Internet disruptions have been reported in the Middle East and South Asia after multiple undersea cable cuts in the Red Sea, Microsoft said. The global software giant said its Azure cloud computing services, the world’s second-largest after Amazon, were affected by the cuts, but general network traffic was not impacted.
• Looking East: Japan’s longer-maturity debt will likely fall further, and the yen will weaken when markets open on Monday, according to analysts, after Prime Minister Shigeru Ishiba said he will resign following a second national election setback. Looser monetary and fiscal policy can be expected if potential candidate Sanae Takaichi succeeds him, they said.
• On time: Air Canada flight attendants overwhelmingly voted against the airline's latest wage offer, their union said—a vote that's expected to have no impact on flight operations. The tentative deal, which ended a strike at the airline last month, includes a 12% salary increase this year for most junior flight attendants.

What you should watch out for

• Public issue: Urban Company’s Rs 1,900-crore IPO will open on September 10 and subsequently close on September 12. The IPO comprises a Rs 472 crore fresh issue and a Rs 1,428 crore offer for sale by existing investors, including Accel, Bessemer Venture Partners, Elevation Capital, Tiger Global, and Vy Capital. The company plans to use the proceeds from the fresh issue for technology development, marketing, working capital, and general corporate purposes.
• Apple event: Apple will hold its annual iPhone-centric event on Tuesday, September 9. This is the biggest Apple event of the year, and we’ll see Apple unveiling new iPhones, new Apple Watches, the AirPods Pro 3, and possibly some other surprises. According to reports, Apple is planning to release a super-thin iPhone alongside the standard iPhone 17 and iPhone 17 Pro models. 

Which was the first Indian film to incorporate playback singing?

Answer: The 1935 film Bhagya Chakra (Bengali) and its Hindi remake, Dhoop Chhaon.

We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail [email protected]. 

If you don’t already get this newsletter in your inbox, sign up here. For past editions of the YourStory Buzz, you can check our Daily Capsule page here.