One quick thing: NPCI-backed BHIM clocked Rs 4 crore revenue, Rs 68 crore loss in FY25 

In today’s newsletter: 

• Google's $15 bn investment puts Vizag on AI map
• Govt tracks GST cuts with quick commerce data
• Lenskart’s grey market valuation hits $10 bn pre-IPO

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Andhra Pradesh CM N. Chandrababu Naidu’s streak of landing landmark tech deals continues in style.

Google will invest $15 billion to set up its largest AI hub outside the US in Visakhapatnam, Andhra Pradesh, marking India’s first gigawatt-scale data centre campus.

• The five-year project (2026–2030) will integrate AI infrastructure, renewable energy, subsea cables, and is estimated to create over 1 lakh jobs

The Vizag AI hub will anchor Google’s full AI stack, including high-performance computing to cloud and subsea connectivity.

• Google Cloud CEO Thomas Kurian said the company will “scale the data centre to multiple gigawatts” 

The hub will be developed in partnership with AdaniConneX and Airtel, both of which announced separate collaborations with Google on October 14.

Also read: 'Only concern is creating jobs, jobs, and more jobs': Nara lokesh says '99 paise land model' key to 2 mn job goal

For CM N. Chandrababu Naidu and AP's IT Minister Nara Lokesh, this marks a comeback moment. 

"In Hyderabad, I brought Microsoft for the first time to India. Today, Google has come to Vishakhapatnam," Naidu said.

The state’s pitch included clarity on data taxation, lawful interception, and “data embassies” 

“Once we shake hands with a company, it’s no longer their project—it becomes ours,” Lokesh said. 

With expanding renewable capacity and port connectivity, Andhra is positioning Vizag as the next digital coastline.

• The AI hub will draw from green energy projects and new battery storage systems under the state’s push to cut power costs

The facility will also host AI research and innovation programs for startups and enterprises across India.

Union IT Minister Ashwini Vaishnaw called the project a milestone for the IndiaAI Mission, adding that it will “go a long way in building India’s digital infrastructure.”

• He also urged Google to explore the Andaman Islands for undersea cable hubs and connect Vizag to Myanmar to boost northeast connectivity

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The government’s price patrol just got a 10-minute delivery upgrade.

The Centre is using quick commerce carts to check if brands are really cutting prices after GST reductions, we were told.

• Blinkit, Zepto, Instamart, BigBasket and Flipkart Minutes are now serving up real-time price data to ministries

Platforms have been asked to showcase GST savings upfront, turning tax cuts into visible checkout wins.

• Officials say around 90% of benefits have trickled down, with the rest stuck in cart—literally

Rapid delivery is now doubling as rapid regulation.

• For the first time, quick commerce platforms are under direct government watch for price compliance

A second official said the platforms make it easier to track multiple brands in one place, offering a better benchmark than offline retail.

• With 45 lakh daily orders across Blinkit, Zepto and Instamart, the government has found its new market dashboard

The government’s festive wishlist: lower taxes, faster checks, happier carts.

• The simplified two-slab GST regime (5% and 18%) kicked in on September 22

FM Nirmala Sitharaman said the cuts will inject Rs 2 lakh crore into the economy across 375 goods and services.

• Real-time oversight through quick commerce data aims to ensure shoppers—not just brands—bag the festive savings

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Lenskart’s IPO hasn’t opened for subscriptions — but investors are already seeing a vision.

Lenskart is commanding a valuation of $10 billion in the grey market, sources told us.

• Its share price touched Rs 510 apiece during trades in the unlisted space 

A grey market is where the shares of companies trade before they are officially listed on the stock exchanges. 

• A fresh valuation of $10 billion is double of what Lenskart was worth last year
  

Given the grey market sentiment, the company is confident of listing at a valuation of $8-10 billion, we were told. 

After receiving regulatory approvals, Lenskart is expected to list in less than a month from now. 

“The company is expected to file its red herring prospectus (RHP) in the week of October 22 and plans to list on the stock exchanges no later than November 12,” a source said.

Lenskart is seeing heightened investor interest because of the following reasons: 

• The company reported a net profit of Rs 297.3 crore in FY25, compared to a loss of Rs 10.2 crore in FY24; revenues increased too
  
  
• Expanding offline presence by adding over 450 stores in FY26, in addition to the 2,723 stores already available
  
  
• While India is its home turf, and accounts for 60% of its revenues, international markets bring in 40% of the sales, showing diversification 

Dig deeper 

At Global Fintech Fest 2025, India’s fintechs finally breathed easy. The stress of regulatory diktats gave way to talk of collaboration and AI fever.

• From the RBI’s Offline Digital Rupee to NPCI’s AI-driven UPI tools, every panel, pitch, and product launch had an AI angle

With banks more open to experimentation and regulation easing, the fintech mood seemed calmer, more grounded and forward-looking.

Find out more

• AI-powered English learning startup SpeakX.ai has raised $16 million (around Rs 142 crore) in a funding round led by WestBridge Capital, with participation from Goodwater Capital and existing investor Elevation Capital.
  
  
• Airoclip, a gaming studio that uses AI to create personalised casual puzzle game experiences, has raised $2.75 million in seed funding.

From village shrines to global screens, Kantara: Chapter 1 is rewriting box-office myths. 

With Rs 600 crore worldwide (Rs 500 crore in India) on a Rs 125 crore budget, Rishab Shetty’s mythological saga is being termed as a “pivot film” for Indian cinema. 

• The Hindi version alone is sprinting toward Rs 250 crore

Find out more

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