NRI equity inflow falls; Pi Ventures preps exits

NRI accounts are surging even as stricter compliance and a softer market cool equity inflows. This and more in today’s ETtech Morning Dispatch.

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NRI flows into Indian equities dip as compliance rules bite

Investments by Non-Resident Indians (NRIs) in Indian stock markets are slowing, despite a rise in account openings. While global uncertainties and market performance play a role, stringent Know Your Customer (KYC) rules are a major hurdle. Industry insiders believe easing these regulations, particularly through digitisation and e-notarisation, could significantly boost remittance flows and unlock substantial investment potential from affluent NRIs eager to participate in India's growth story.

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Amazon, Flipkart spark quick commerce price war as Blinkit, Instamart hold the line

India’s quick-commerce market is back in a discounting spiral. Amazon and Flipkart are turning up the heat, but incumbents Blinkit and Swiggy Instamart are largely refusing to dive into the price war as they prioritise profitability, industry executives said.

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Baidu's AI chip unit Kunlunxin targets $50 billion Hong Kong IPO: Report

Investors have been asked to ‌buy chips ⁠with ⁠a value three to seven times the worth of their ​planned subscription in Kunlunxin's initial public offering shares, the report ​said.

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Google limits Meta's use of its Gemini AI models: Report

Google, owned by Alphabet, told Meta ‌around March ⁠it ⁠could not meet the full Gemini capacity the company had sought ​to purchase, the newspaper said, adding that the shortfall disrupted ​and delayed some of Meta's internal AI projects.

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How schools breach children’s data privacy: A snapshot

Schools and other organizations are posting children's photos and achievements online without proper parental consent, potentially violating the DPDP Act. This practice exposes minors to privacy risks, online abuse, and legal issues. While global governments are strengthening child online protections, compliance in India remains inconsistent, leaving many children vulnerable to exploitation and harassment, as highlighted by a recent student's experience.

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SpaceX set to join Nasdaq 100, paving way for wave of passive buying

SpaceX is set to join the Nasdaq 100 index on July 7, a move expected to attract billions in passive investment. This inclusion follows Nasdaq's relaxed entry criteria, making it easier for companies like SpaceX, despite recent losses, to enter major indices. While some see it as a positive sign of demand, others, like Morningstar, express concerns about the stock's valuation. S&P 500, however, maintains stricter entry rules for SpaceX.

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West Asia conflict may delay India's chip projects

India's ambitious semiconductor projects, including Tata Electronics' Dholera fab, face potential delays due to the West Asia conflict. Logistical snags have disrupted the supply of crucial speciality gases, chemicals, and metals, leading to concerns about cost overruns and extended timelines. While some believe disruptions have eased, experts warn of significant pushes to production schedules, impacting both construction and operational phases.

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Living on borrowed AI won’t end well for India, warn experts

India's reliance on foreign-controlled advanced AI models, like Anthropic's, is under scrutiny after a US government directive suspended access. Experts warn this highlights a significant vulnerability, potentially hindering India's ambition to become an AI power. The incident underscores the need for stronger domestic capabilities and strategic infrastructure to avoid being merely an adopter of technologies controlled elsewhere, emphasizing the geopolitical implications of frontier AI.

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Xbox to raise console prices worldwide from August

Groups representing automakers, retailers, electronics firms and others had ‌warned earlier ⁠this ⁠month that the increasing demand for memory chips could lead to ​dramatic price hikes in U.S. consumer goods and disrupt supply chains.

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Binance to suspend crypto services in several EU countries

Binance, the world's largest cryptocurrency exchange by volume, said it had applied for authorisation to operate under the EU's crypto assets regulation MiCA in Greece, but told clients that it has now withdrawn that application and would apply in another EU country.

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