Creating a new generation of artisan entrepreneurs; Info Edge Q4 revenue up 16%
Founded by Nivedita Rai and Sourodip Ghosh, Karghewale is helping artisans move beyond low-paid wage work by building their own creative enterprises; Info Edge reported a sharp jump in annual profit for FY26.
Hello,
Info Edge (India) Limited, the parent of Naukri.com and 99acres, reported a sharp jump in annual profit for FY26, driven less by its operating businesses and more by gains from its sprawling startup investment portfolio.
The Noida-based company posted a 15.9% year-on-year rise in consolidated revenue for Q4 FY26. Consolidated net profit for the quarter ended March 31, 2026 stood at Rs 756 crore, while other income during the period came in at Rs 497 crore.
Meanwhile, food delivery platform Swiggy has failed to secure the requisite shareholder approval to alter its Articles of Association, with which it had aimed to qualify as an Indian-owned and controlled company, according to an exchange filing.
The filing, made on Thursday, showed that the resolution received 72.36% shareholder approval, falling short of the required threshold by 2.65 percentage points.
In other developments, Finnish phone maker HMD has launched its first smartphone, the Vibe 2 5G, preloaded with Indian AI firm Sarvam’s chatbot Indus. The partnership was announced at the India AI Summit in New Delhi earlier this year.
Indus is powered by Sarvam’s 105-billion-parameter AI model and supports 22 Indic languages, including mid-sentence code-switching. The chatbot currently does not support offline usage or device-level shortcuts, and the partnership is expected to gauge demand for India-focused AI assistants.
In today’s newsletter, we will talk about
- Creating a new generation of artisan entrepreneurs
- FIS India GCC’s scalable AI for financial services
Here’s your trivia for today: What was the first widely-used web browser?
Social Enterprise
Creating a new generation of artisan entrepreneurs
In Maheshwar, Madhya Pradesh, Nivedita Rai and Sourodip Ghosh observed a persistent gap in India’s handloom sector—highly skilled weavers remained trapped in low-paying wage work while most of the value was captured elsewhere in the supply chain. This insight led them to build Karghewale, an initiative that repositions artisans as entrepreneurs rather than labourers.
Empowering artisans:
- Karghewale trains artisans in business, costing, and design while acting as a market bridge, enabling them to operate independently with direct access to buyers and upfront order support.
- Karghewale began with an incubation programme with 150 young artisans through the Handloom School project. Not everyone became an artisan entrepreneur, but 55 from the cohort did over the course of the programme, which runs for 2.5-3 years.
- Now, many artisans have transitioned into small business owners with significantly higher earnings, growing autonomy, and the potential to employ others and build scalable craft enterprises.
GCC
FIS India GCC’s scalable AI for financial services
Fidelity Information Services (FIS) is advancing its AI strategy through a governance-first approach, prioritising scalability, trust, and measurable business value before deploying solutions. Its India GCC, spread across Bengaluru and Chennai, has become a key engine driving AI development, experimentation, and global rollout, especially in a highly regulated financial services environment.
Key takeaways:
- FIS evaluates every AI solution through multiple layers of scrutiny such as risk, compliance, security, and data protection, especially when using third-party models.
- The India GCC designs and scales AI systems, including an agentic AI stack, while fostering global collaboration and an AI-first culture supported by tools like Microsoft Copilot and cross-functional communities that speed up experimentation and adoption.
- AI proofs of concept are increasingly turning into scalable solutions, improving customer outcomes and boosting engineering productivity.
News & updates
- Autonomous car: Mercedes-Benz said on Friday it will roll out its urban point-to-point autonomous driving system in Germany from the end of this year, after first introducing the technology in China and the United States.
- Ebola vaccine: Scientists at Oxford University have made a new vaccine that could be used within months to help tackle the Ebola emergency. The outbreak, centred on the Democratic Republic of Congo, has reached 750 suspected cases and 177 deaths.
- SpaceX: Elon Musk's SpaceX has postponed a launch of its massive Starship rocket and said it plans to make another attempt at the highly-anticipated test flight on Friday.
What was the first widely-used web browser?
Answer: Mosaic
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