Andhra Pradesh’s founder-first growth strategy; Wipro’s net profit remains flat
Andhra Pradesh is pushing Mazzucato's entrepreneurial state further, treating entrepreneurship itself as public infrastructure across the state; Wipro delivered a muted performance for the first quarter of FY27 and the revenue guidance for the second quarter remained disappointing.
Hello,
Chennai-based spacetech startup Agnikul is gearing up for its next big milestone. Ahead of Mission 02, the company has appointed former ISRO chairman Dr S Somanath as an observer on its board. The mission will attempt India’s first recovery of an orbital-class rocket booster and test an upper stage designed to stay operational in orbit instead of being discarded, a step that could make future launches far more efficient.
Meanwhile, Tech Mahindra kicked off FY27 on a strong note. The IT services company reported a 28.4% year-on-year jump in June-quarter net profit to Rs 1,465 crore, while revenue rose 17.7% to Rs 15,712 crore. Its workforce shrank by 863 employees sequentially, with IT attrition at 11.8% over the last 12 months.
Beyond earnings, AI continued to dominate global technology developments. Nvidia is doubling down on physical AI. During CEO Jensen Huang's visit to Japan, the chip giant unveiled Cosmos 3 Edge, a new AI world model designed to help robots and vision AI agents understand and navigate real-world environments.
As AI capabilities advance, regulators are stepping up oversight. Google is facing fresh pressure in Europe. EU regulators have clarified that, under the Digital Markets Act, Google must make parts of its services more accessible to rivals—including AI companies like OpenAI and competing search engines. The move is aimed at curbing Big Tech's dominance and creating a more level playing field in the digital ecosystem.
In other news, Meta is adding new safety guardrails for teens using its AI chatbot. The company will now alert parents if a teenager discusses suicide or self-harm with Meta AI and is also working on a feature to contact emergency services in high-risk cases. The move comes amid growing scrutiny over how AI chatbots handle users in crisis, especially teenagers.
In today’s newsletter, we will talk about
- Andhra Pradesh’s founder-first growth strategy
- The company behind rival diaper brands
- Wipro’s net profit remains flat in Q1
Here’s your trivia for today: Which famous guitarist is known for playing with his teeth?
Government
Andhra Pradesh’s founder-first growth strategy
As AI and automation reshape traditional employment, states can no longer rely solely on attracting large industries to create jobs. Andhra Pradesh is betting that the future lies in building entrepreneurs instead of just employers, with a policy-led strategy to create a statewide startup ecosystem that can generate sustainable, long-term economic growth.
Founder economy
- Andhra Pradesh is shifting from an industrial policy focused on attracting companies to an entrepreneurship-first model, backed by initiatives like the One Family One Entrepreneur mission and a target of nurturing 20,000 startups by 2029.
- Rather than concentrating growth in one city, the state is developing innovation hubs across regions—from Visakhapatnam’s AI ambitions and Amaravati’s Quantum Valley Tech Park to district-level co-working spaces and startup support centres.
- By combining advanced technology infrastructure, startup incentives, access to capital, and a focus on converting investment commitments into operational projects, Andhra Pradesh aims to position itself as a leading hub for deep-tech entrepreneurship and long-term job creation.
News
The company behind rival diaper brands
Many parents compare baby diaper brands based on comfort, price, or absorbency, but few realise that several competing labels are manufactured by the same company. Swara Baby Products' IPO filing reveals its role as India's largest contract diaper manufacturer and its close ties to FirstCry.
Key takeaways
- Swara manufactures diapers for FirstCry’s Babyhug, Piramal Pharma’s Little’s, Himalaya, and over 20 other customers, while also selling under its own Cuddles brand.
- FirstCry parent Brainbees Solutions acquired a majority stake in Swara in 2020 and now owns 76.59%, according to the company’s DRHP.
- While global giants like Pampers, Huggies, and MamyPoko manufacture in-house, contract manufacturing is gaining traction as private labels and D2C brands increasingly outsource production to scale efficiently.
Corporate
Wipro’s net profit remains flat in Q1 FY27
IT services company Wipro saw its net profit remaining flat for the first quarter of FY27 while the revenue grew by 10.5%. The net profit at end of the first quarter stood at Rs 3,352 crore as compared to Rs 3,330 crore in the similar period a year ago. The revenue for the quarter came in at Rs 24,479 crore as compared to Rs 22,135 crore registered a year ago.
News & updates
- Samsung: US trade regulators have opened a patent probe into Samsung's memory chips, along with products from Google, Nvidia, Broadcom, and Super Micro that use them, following a complaint by Netlist.
- Gig economy: India's gig internet workforce could reach 17–21 million by 2030, but women still account for just 1%, Redseer report said. Most female gig workers are concentrated in home services, with negligible participation in delivery and ride-hailing.
Which famous guitarist is known for playing with his teeth?
Answer: Jimi Hendrix
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