Reliance x OpenAI? This Could Be Massive 🚀 (Mar 23)

Good morning, Masala fam! 🌞

It’s Sunday, and if you’re reading this while sipping your chai in bed — we salute you. 🫡 Whether you’re team “chilla and chill” or “brunch and binge,” we’ve got your weekly dose of India’s spiciest business and tech scoops.

From Musk lawyering up in India to EVs still giving us price shock, from Dravid joining a tech squad to shipping profits sailing past expectations — this week’s brew is strong, hot, and definitely not decaf. ☕🔥

Let’s get right into it.

🫖 Chai Shots

• 🤖 OpenAI and Meta knocking on Reliance’s door: India could soon get a hyperlocal AI boost. Both OpenAI and Meta are in early talks with Reliance to potentially host and distribute their AI models via Jio. This includes running AI workloads from a massive 3GW data center in Jamnagar. ChatGPT with desi bandwidth? More on this in The Big Brew below 👇.

• 🕹️ GST goes full gamer mode: In a no-nonsense crackdown, the GST intelligence unit blocked 357 shady offshore gaming websites and froze 2,400 linked bank accounts. Some of these platforms were sneakily run by Indian nationals from abroad, and endorsed by celebs and influencers. Moral of the story? Don’t play with taxmen… or the law.

• 🧢 Rahul Dravid joins Hexaware squad: The “Wall” is now a workplace icon. Rahul Dravid has been appointed as Hexaware’s cultural ambassador and will lead sessions on leadership and performance under pressure for employees. Because who better to teach resilience than the king of patience?

• ⚖️ Musk vs India, Round 2: Elon Musk’s X is suing the Indian government again — this time over what it calls “unrestrained censorship.” The lawsuit claims a government website has enabled blanket content blocking by too many officials without legal oversight.

📈 Market Masala

• 📊 India dominates Asia’s stock scene: Sensex and Nifty led the weekly gains among all Asian indices — Sensex jumped 4.17% to close at 76,905.5, while Nifty surged 4.26% to hit 23,350.4. Optimism over rate cuts, a strong global cues boost, and renewed buying in large-cap stocks drove the rally. FMCG, IT, and energy stocks led the charge.

• 🦄 India to double its startup count by 2030: From 1.2 lakh startups in 2023 to 2.4 lakh by 2030 — India’s startup boom is only getting louder. A new report predicts 280 unicorns and over 50 million jobs created, especially in AI, SaaS, clean tech and fintech.

• 🏦 Barclays bets big on India: With a fresh ₹2,300 crore capital injection, Barclays' total India investment now crosses ₹12,400 crore. It’s expanding investment banking and private wealth ops — and just opened a shiny new 65,000 sq. ft. office in Worli, Mumbai.

• 🧅 Tears of joy for onion farmers (see what we did there?) : The government is scrapping the 20% export duty on onions starting April 1. With rabi crop arrivals rising and prices falling, this move aims to support farmers by allowing them better prices overseas while keeping domestic retail rates in check.

• 🔮 Looking ahead: Next week, all eyes are on inflation data from India and the US, fresh IPO buzz, and FII activity. Nifty has broken out of a tight range and is now flirting with the 23,400 resistance zone. If it clears that, the next target could be 24,100. Traders are leaning toward a "buy the dip" strategy — especially in banking, metals, and energy. Just watch out for volatility and keep an eye on the global cues. The mood? Cautiously optimistic. 📈✨

🌍 Global Masala

• 💰 S&P 500 claws back: After four straight losing weeks, the S&P 500 rose 0.5%. Trump’s hint at “tariff flexibility” soothed some investor nerves. But big players like FedEx and Nike warned of weaker sales, keeping market vibes cautious.

• 🌪️ Australia braces for US policy shockwaves: Aussie Treasurer Jim Chalmers warned that Trump’s return to the White House is creating “seismic uncertainty” for the global economy. He’s prepping cost-of-living subsidies in the national budget but said global tensions and economic shifts are “casting a shadow” over their fiscal plans.

• 🛳️ Cosco sails into profit storm: China’s biggest container shipping giant, Cosco, reported a 95% jump in net profit for 2024 — thanks to Red Sea route diversions and booming US demand. But clouds loom, with the US floating new port fees and tariffs targeting Chinese ships.

🔍 The Big Brew: Reliance, Meta & OpenAI — A Desi AI Dream Team?

Big Tech is knocking, and Mukesh Ambani might just open the door to India’s AI future. OpenAI and Meta are in advanced talks with Reliance Industries for a potential partnership to expand their AI footprint in India — and the stakes are massive.

• Here’s what’s brewing:

  • 🤝 ChatGPT goes desi? OpenAI is exploring a deal with Reliance Jio to distribute ChatGPT in India, possibly slashing subscription prices from $20 to just a few dollars.

  • 💾 Local brains, faster gains: Reliance may host OpenAI and Meta’s models locally in its upcoming 3GW data center in Jamnagar — touted as the biggest in the world. That means faster response times and better data protection.

  • 🧠 AI for enterprise: Reliance could also resell AI APIs to Indian businesses — opening up powerful tools to startups, SMBs, and corporate India.

• Why it matters: This move could democratize AI access across India, anchor global tech within local infrastructure, and position Reliance as the central nervous system of India’s digital future.

• 🧠 Bottom line: India’s AI boom might just run on Reliance — and the rest of the world is watching.

🚀 Startup Scoop

• 🎮 Nazara levels up with Norges Bank: Norway’s central bank just bought ₹70 Cr worth of shares in gaming major Nazara Technologies. Despite share volatility, Nazara has been on an M&A spree — now fully owning Sportskeeda and expanding its gaming empire.

• 🚗 Vanguard drives into CarTrade: Global giant Vanguard scooped up 7.13 lakh shares of CarTrade. The stock’s up 19% YTD — outperforming a sluggish auto-tech sector.

🤔 Chai Break Trivia

Do you know which Indian city is set to host the world’s largest planned data center?
It’s Jamnagar, Gujarat! 🧠⚡

Reliance is building a massive 3-gigawatt data center there — big enough to power next-gen AI models from OpenAI and Meta. From oil to AI, Jamnagar’s glow-up is real! 💾🇮🇳

🔮 What’s Brewing Next?

• ⚖️ X vs Govt of India: Next hearing in Karnataka could shake up India’s internet censorship rules.

That’s your Masala Chai for this mellow Sunday! ☀️
But don’t worry, this isn’t goodbye — we’ll be back tomorrow morning with your daily fix of fresh headlines, spicy scoops, and a generous pour of context.

Until then, sip slow, scroll smart, and enjoy the last few hours of your Sunday like it’s golden hour. ✨

Chai you soon! ☕👋