India’s Tech Moves: Insider News on Startups, AI, and Big Deals

Lot one this morning: Jio Platforms. The anchor book is closed, and the bids are in. A cool ₹8,110 crore from the likes of BlackRock, Fidelity, and Capital Group. All this before the public even gets a look. We talked about big moves last time, but this auction is set to break the record for the entire country. Now for the rest of the room. A few other lots on the block today that you need to see. First, the India-New Zealand Free Trade Agreement just went live. That means New Zealand is committing to facilitate $20 billion of investment into India, with startups named as a key sector. It also opens the door for Indian services companies—including IT—across about 118 sectors. That’s not just a trade deal; that’s new fuel for the engine.

Next up, a piece of hardware. Even Realities just put its G2 smart glasses on the block. The twist? No camera. It uses the lens itself as a display for translations, AI prompts, or even a teleprompter. A very different bet on what augmented reality should be for. And finally, a warning shot from inside one of the biggest houses. Microsoft’s CEO Satya Nadella just said that powerful AI models cannot be trusted and should be treated as an INSIDER risk. That’s right. Not an outside threat, but a risk you willingly bring inside your own walls. Now, let's go back to that first lot. The big one. Jio Platforms. The anchor round was just the warm-up. The public offering opens tomorrow, and they are looking for a valuation of up to ₹10.3 lakh crore.

Let me run that for you. I’m bid 10 lakh crore, do I hear 10.1, 10.2, 10.3 on the book, yep, 10.3 lakh crore, looking for more... Hammer's down. Now let me tell you what that actually was. This isn’t just an IPO. This is the culmination of a decade-long plan. Remember back in 2020, during the pandemic? Jio raised over one and a half lakh crore from thirteen global investors. Facebook took a piece. Google took a piece. KKR, Silver Lake, the Saudi Public Investment Fund… they all bought in. They saw what was coming. This isn't a startup. This is a platform with 524.4 million customers as of March. They’re not just selling phone plans; they’re building the digital infrastructure a huge part of the country runs on.

It’s exactly what Anand Mahindra was talking about when he said the Indian ecosystem is "on steroids" with "hardcore hardware." This is what it looks like at scale. A price is just the last person who wanted it more. And for years, the biggest names in global finance have wanted a paddle in this auction. Now, the public gets its turn. And remember, I call the numbers in the ring, but this is general information, not financial advice. The paddle's in your hand now.