How Tim Cook turned India into Apple’s growth engine; NIIF raises Rs 19,000 Cr infra fund
Close to 55 million iPhones were assembled in India in 2025, or roughly a quarter of Apple’s global production.
Dear Reader,
Food regulations are getting tighter in India and food delivery platforms are taking notice.
Zomato has introduced a zero-tolerance policy against restaurants selling analogue dairy products without proper disclosure, warning that non-compliant outlets face removal from the platform. Analogue dairy products include cheese or paneer made with plant oils. The food aggregator’s move follows recent food safety crackdowns by Maharashtra’s Food and Drug Administration.
Meanwhile, India’s ambitious semiconductor plan got a boost on Monday when the government notified the Semicon 2.0 scheme, setting in motion the Rs 1,27,500-crore plan that seeks to deepen India's semiconductor dreams. The plan goes beyond chip manufacturing to cover indigenous design and IP, equipment, materials, advanced packaging, R&D and talent development.
The scheme was approved by the government this July. Monday’s announcement provided details on how the capital will be invested and the eligibility criteria for various categories.
Lastly, Chile is getting a new telescope that will be Earth’s biggest eye on the stars so far. Its name? Naturally, scientists are calling it the Extremely Large Telescope or ELT. Its size is breathtaking: the dome alone is 80m tall (260ft), and the mirror inside is 39m wide (128ft). BBC Future has some incredible images of this remote, almost-alien looking structure.
In today’s newsletter, we will talk about
- How Tim Cook turned India into Apple’s growth engine
- NIIF raises Rs 19,000 Cr infra fund
Here’s your trivia for today: What flagship mobile game saved Finnish developer Rovio from bankruptcy in 2009 after 51 failed previous attempts? (Scroll down for answer)
Technology
How Tim Cook turned India into Apple’s growth engine
During Tim Cook’s 15-year stint as Apple CEO, India evolved from an emerging prospect into a critical market for the company. Following Cook's initial key visit in 2016 to establish local operational roots, Apple expanded its footprint by launching its online store in 2020 and opening flagship retail stores in Mumbai and Delhi in 2023. During his tenure, Apple also began assembling iPhones in India.
This two-prongstrategy paid off as Apple’s annual sales in India crossed $10 billion for the first time in the fiscal year ended March 2026. His successor will now have to deepen both sides of that India bet: sales and manufacturing.
The evolution:
- Close to 55 million iPhones were assembled in India in 2025, or roughly a quarter of Apple’s global production.
- Unlike other companies, Apple did not chase India’s mass market. It waited for more Indian consumers to move up to the iPhone.
- In one of his last earnings calls as CEO, Tim Cook was ‘over the moon’ on India growth, counting the country among Apple’s strongest-performing markets.
Investment
NIIF raises Rs 19,000 Cr infra fund
India's sovereign-anchored alternative asset manager, the National Investment and Infrastructure Fund Limited (NIIF), has raised Rs 19,000 crore as the first close for its Rs 30,000 crore NIIF Infrastructure Fund II.
Anchored by the Government of India, the first close also saw participation from sovereign wealth funds, pension funds, insurance companies and leading Indian financial institutions.
Key takeaways:
- NIIF manages over $7 billion in equity capital commitments across four strategies: Infrastructure, private markets, growth equity and climate investments.
- It expects to mobilise approximately Rs 9,000 crore in co-investment capital, enabling investors to participate at scale in select transactions.
- The asset manager’s first infra fund raised Rs 16,000 crore and has invested across renewables, transmission, distribution, battery storage, roads, ports and logistics, airports, data centres and smart metering.
News & updates
- AI models: Bank of England Governor Andrew Bailey believes advanced artificial intelligence models could trigger a disorderly correction in global financial markets. In a two-page letter published Monday to G20 finance ministers and central bank governors, he highlighted the role of “frontier AI models” that are “increasingly sophisticated autonomy and problem-solving abilities, as well as threat capabilities.”
- Free access: Adobe has expanded its agreement with Saudi Arabia's Ministry of Communications and Information Technology and Saudi government-backed AI firm Humain. Under the deal, the company will provide Saudi citizens with 12 months of free access to its AI-powered tools.
What flagship mobile game saved Finnish developer Rovio from bankruptcy in 2009 after 51 failed previous attempts?
Answer: Angry Birds
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