Midnight News Update
14 – 15 October 2025
Google’s $15 Billion Bet on India’s AI Future
In what could become one of the largest foreign direct investments in India, Google will invest $15 billion to establish a large-scale Artificial Intelligence (AI) hub in Visakhapatnam. This will be Google’s biggest investment outside the US. The hub will combine data centres, renewable-energy capacity, and a sub-sea gateway—making it India’s first Gigawatt-scale data centre, crucial for AI models that demand massive computing power and low-latency connectivity.
Smartphone Exports Hit Record High
India’s smartphone exports crossed $1.8 billion in September 2025—a 95% YoY jump—underscoring its rising global competitiveness. The US, UAE, Austria, Netherlands, and UK were top destinations, with the US alone accounting for nearly 70% of total exports in h3 FY26. The sharp uptick came despite August–September traditionally being low-demand months.
Emirates NBD Eyes Controlling Stake in RBL Bank
Reports suggest that Emirates NBD, UAE’s second-largest bank, is in advanced talks with RBL Bank for a controlling stake, likely through a preferential share issue. The potential deal will trigger an open offer under SEBI takeover rules and require RBI approval. RBL’s market cap currently stands at ₹17,728 crore, but RBI may limit Emirates NBD’s voting rights to 26% as per regulatory norms.
Cochin Shipyard Bags ₹2,000 Crore European Order
Cochin Shipyard secured a ₹2,000 crore order from a major European client to design and build six LNG-powered feeder article-container vessels (1,700 TEUs each). The company, which ended FY25 with an order book of ₹21,000 crore, continues to be a major beneficiary of the Defence “Make in India” drive.
Gems & Jewellery Exports Sparkle Despite Tariffs
Contrary to expectations, gems and jewellery exports rose 6.55% YoY to ₹25,738 crore in September 2025. Strong festive and wedding-season demand offset global headwinds. For h3 FY26, exports were up 3.66% to $14.09 billion, with key demand from the UAE, Hong Kong, and UK.
Infosys Wins $1.59 Billion NHS Contract
Infosys bagged a $1.59 billion, 15-year deal from the UK National Health Service (NHS) to replace its existing payroll system with a new data-driven workforce management platform. The project will significantly boost Infosys’s total contract value (TCV) and help offset US-market pressures amid tightening visa norms.
WPI Inflation Eases to 0.13% in September
India’s Wholesale Price Index (WPI) inflation cooled to 0.13% in September 2025 (vs 0.52% in August). Food and manufacturing inflation softened, with vegetable prices plunging 24.41%. Fuel inflation stayed in deflation but showed mild firming signs.
Tata Motors Demerger Takes Effect
Tata Motors shares opened nearly 40% lower on Tuesday, reflecting the impact of its demerger into separate Commercial Vehicle (CV) and Passenger Vehicle (PV) entities. Shareholders will receive new shares in the demerged entity in a 1:1 ratio. The CV entity is expected to list next month, after which the new shares will be tradeable.
