Tech giant Apple turned 50 years old in April 2026. And as of now, Apple is both nervous (sad) and excited (happy) with India. Nervous because of an antitrust lawsuit brought about by the Competition Commission of India. Excite because….India.

This week, outgoing CEO Tim Cook (who still stays on Apple’s board while John Ternus takes over as CEO) said he is “over the moon excited” about India, calling the country a “huge opportunity”. “Yes, I think it’s (India) a huge opportunity for us. We’ve been focused on this for a while. It’s the second largest smartphone market in the world and the third largest PC market,” he said during Apple’s second quarter 2026 earnings call.

Apple said these results followed a strong Q2 FY26 performance (which is January – March 2026, since Apple follows the October – September fiscal year), with revenue up 17% year over year to $111.2 billion, fueled by continued demand for the iPhone and broad growth across global markets. The company also noted double-digit growth in most regions, including India, the US, Latin America, Greater China, Western Europe, Japan, and Southeast Asia.

At the same time – within a day of this, Apple stated that the Competition Commission of India, which is taking Apple to court for the antitrust lawsuit, is “overstepping judicial authorities”. Specifically, Apple has accused the CCI of overstepping its authority by pressing the U.S. tech company to disclose its financial records in an antitrust case tied to the iPhone apps market, while Apple challenges the law that sets penalties, court documents show. A confidential filing by Apple in an Indian court, reviewed by Reuters on Thursday, is the latest indication of an escalating dispute between the company and Indian investigators in a case that could result in a penalty of up to $38 billion.

The “commission’s decision to schedule a final hearing represents an escalation in its efforts to usurp the Hon’ble Court’s authority,” Apple said in the filing, in which it ​asked the court to ​hear the matter on ⁠May 15. Remember last week I reported that the court set May 21 as the deadline for the hearing in response to the CCI’s escalation of Apple’s failure to furnish global financial information, which the CCI needs to calculate penalties.

What to make of these two news pieces put together? Well, for one, John Ternus’ first year as CEO is going to be wild. But seeing past that, India is too big a market and a manufacturing hub for Apple to walk away from, so that’s not going to happen. Apple will eventually settle with the CCI, but they won’t make it easy because when it comes to regulators and the law, Apple are basically sore losers (remember when they were forced to introduce USB-C with the iPhone 15 lineup?).

Who knows, maybe John Ternus will present a golden plaque-trophy thing to Narendra Modi, the way Tim Cook presented to Donald Trump and got tariff exemptions in return.

Side note – do you know where the CCI got the figure of $38billion from? Well, following the Competition (Amendment) Act, 2023, the Competition Commission of India (CCI) is empowered to impose penalties of up to 10% of an enterprise’s global turnover derived from all products and services, not just the revenue from the infringing product in India. So this is likely 10% of Apple’s global turnover from their precious App store.

Amazon and Future Coupons Reach ₹11 Crore Settlement

Speaking of settlement (hehe), Amazon and Future Coupons Pvt. Ltd. (FCPL) which is led by Kishore Biyani, have resolved all long-outstanding issues and have agreed to withdraw all legal proceedings, as per a settlement reached between them in March (which was reported only this week). FCPL will pay Amazon 11 crores as part of the settlement. This dispute was more than five years old.

But, you may ask, what was the dispute all about? Well, the Amazon-Future Group dispute centers on Amazon’s objection to Future Group selling its retail assets to Reliance Retail, arguing it violated a 2019 investor agreement. Amazon held an indirect 49% stake in FCPL, which included a restrictive clause prohibiting the sale of assets to specific competitors like Reliance Retail, with which it had a $3.4billion deal in 2020. A Singapore International Arbitration Center (SIAC) emergency arbitrator initially sided with Amazon, freezing the $3.4 billion Reliance-Future deal. This was upheld by the Delhi HC. But in 2021, the CCI suspended its approval of the Amazon-Future deal of 2019. So Amazon then demanded more than ₹1,000 crores from FCPL. Twists and turns later, the chaper is closed with this ₹11 crore settlement.

I wonder how much each side paid in legal fees.

Aadhaar Card in Google Wallet

Aadhaar can now be securely saved in Google Wallet in India, making identity checks faster at hotels, airports, and online services, according to Google India Blog and official support pages. The digital ID is encrypted and supports selective sharing, and it is commonly accessed through the mAadhaar app. The feature enables secure digital identity verification in partnership with UIDAI.

Right now I use an iPhone (I know, I know) and since I live outside of India I use Apple Pay (which is reportedly coming to India this year) and it in incredibly easy to use my Apple Wallet. Yes, I store more than just card information…. I store also loyalty coupons of my favourite coffee shop and get one free coffee every 11 days as a result. Nice. *cries in coffee*

Reliance To Invest $17 Bn To Set Up 1.5 GW Data Centre Cluster In Visakhapatnam

Reliance Industries plans to invest approximately $17 billion (₹1.6 lakh crore) to build a 1.5 GW AI-focused data centre cluster in Visakhapatnam, Andhra Pradesh, marking India’s largest such project – even larger than its Jamnagar one and the one Google is building (also in Vishakapatnam). Approved in April 2026, the 935-acre project will be located near Bhogapuram and powered by a 9,000 MW captive solar system, with Phase 1 (500 MW) set for October 2028 and full completion by 2030.

MeitY warns VPN Firms Against Allowing Access to Illegal Betting Platforms

The Ministry of Electronics and Information Technology (MeitY) released an advisory on April 25, 2026, instructing VPN providers and intermediaries to restrict access to illegal gambling and betting sites, including Polymarket (which allegedly is how Donald Trump’s sons made s#*tloads of money recently). The move is intended to prevent users from evading government restrictions and using crypto, such as stablecoins, to place bets on unlawful platforms, with noncompliance potentially leading to the loss of safe-harbour protection under Section 79 of the IT Act.

Remember that the Promotion and Regulation of Online Gaming Rules, 2026—which implement the framework for the 2025 Online Gaming Act—took effect on May 1, 2026. The rules create the Online Gaming Authority of India (OGAI) to regulate the sector, banning most real-money gaming while permitting oversight of esports and casual social gaming platforms.

And speaking of VPN…

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Headlines:

Okay, lots more news, here’s all of them so you can…. you know… stay informed.

• WhatsApp has suspended more than 9,400 accounts across India in a three-month operation that began in January 2026, focusing on fraud schemes where scammers pose as police or government officials to frighten victims with bogus “digital arrest” threats. The Ministry of Home Affairs (MHA) reported this enforcement effort to the Supreme Court, noting a sharp rise in extortion attempts carried out through WhatsApp.
• Nvidia has leased 7.6 lakh sq ft of office space in Bengaluru at Bagmane Capital for 10 years, valued at around ₹1,230 crore.
• Amazon India is making an aggressive push into the quick commerce sector with plans to expand its “Amazon Now” ultra-fast delivery service to 100 cities across the country, backed by a significant investment of over ₹2,800 crore (approximately $300 million). This initiative aims to strengthen its logistics network and compete directly with established players like Blinkit and Zepto. Yes, I said I’ll do a post on why quick commerce in India is a giant ponzi scheme, I’m working on it.
• Flipkart is developing a separate app for its quick commerce offering, Flipkart Minutes, with plans to roll it out by July 2026 to take on rivals Blinkit and Zepto. At present integrated as a section within the main Flipkart app, this new standalone platform will help the company scale up quickly to more than 1,200 dark stores across around 250 cities by mid‑2026.
• India has become the seventh country to independently develop high-performance gallium nitride (GaN) chip technology. Created by DRDO’s SSPL, these chips are especially valuable for 5G, electric vehicles, and defense uses such as radar and electronic warfare, thanks to their better power efficiency than conventional silicon.
• OnEMI Technology Solutions (“Kissht”) launched its IPO and looks like they did pretty well. Kissht is a 10 year old lending platform. “The company offers a range of fast, secure, and seamless financing solutions from small-ticket personal loans to secured products like Loan Against Property (LAP).” It scares me when a fintech company raises a lot of money in a short time.
• MakeMyTrip (which, did you know, is listed on Nasdaq?), is reportedly preparing for an India IPO by Q1 2027 to raise funds locally and support its next phase of growth. For the proposed listing, it has reportedly brought on Axis Capital, Morgan Stanley, and JP Morgan as bankers.
• Bengaluru-headquartered insurtech company Acko is joining the IPO rush, seeking a $2-2.5 billion valuation for its public offering slated for early 2027. The firm has onboarded investment banks such as Morgan Stanley, ICICI Securities, and Kotak Mahindra Capital, intending to submit confidential draft documents to SEBI during the second half of 2026, with an objective to secure approximately $350 million in fresh capital. 
• The Indian Government is reportedly in talks with Anthropic and the US Government for fair access to Mythos, Anthropic’s newest model that is “so powerful that they are not releasing it although it was “leaked” to hundreds of people who found its URL easily”.
• The Reserve Bank of India (RBI) officially revoked the payments bank license of Paytm Payments Bank Limited (PPBL) (not the UPI app) on April 24, 2026, due to persistent non-compliance and management practices deemed detrimental to depositors and public interest. The action bans PPBL from banking services, with the RBI initiating steps for winding up the entity.
• Zerodha has closed its creator-driven media platform, Zero1, and moved toward an internal content strategy amid regulatory concerns over financial influencers (“finfluencers”). Introduced in late 2023 through a collaboration with LearnApp, the service was discontinued in March 2026 to prioritize tighter regulatory adherence, redirecting resources to proprietary educational programs.
• Larsen & Toubro (L&T) has formally established a fully owned subsidiary called Larsen & Toubro-Vyoma Ltd (Vyoma.AI) to try and bolster its presence in the digital sector. Established on April 22, 2026, the company focuses on developing advanced indigenous AI cloud platforms and data centers across India.
• Global cryptocurrency exchange BitDelta has entered the Indian market after completing its registration with FIU‑IND. The platform is building a 100‑person team and allocating resources to strengthen security and technology infrastructure as it enters a highly competitive landscape.
• The Karnataka High Court has prolonged the temporary halt on the Competition Commission of India (CCI) antitrust investigation into Swiggy over a continuing data controversy. The bench is examining Swiggy’s objection to denying cross-questioning of external parties in the probe. This protective measure, continuing the suspension of proceedings, was maintained since the court identified an initial prima facie basis.
• The HCL Group and Foxconn have formed a joint venture (JV) to set up an Outsourced Semiconductor Assembly and Test (OSAT) plant in Jewar, Uttar Pradesh, India, with an investment of over ₹3,700 crore (roughly US$403 million). Construction began on February 21, 2026; the facility is intended to strengthen India’s domestic chip packaging capacity and serve industries such as smartphones and automotive electronics.

Told you there was a lot of news this week. Good job to you for reading!

Five Finds of the Week

This week’s theme is e-readers. Because I e-read the news of Thalapathy Vijay’s victory in Tamil Nadu… and of others in other states today (the day I’m writing this post). Anyway, e-readers are surprisingly convenient and pleasant even for a voracious physica-book reader like me.

• Kindle Paperwhite – if there’s one e-reader I recommend to most people.
• Kobo Clara BW – if you want a Paperwhite that’s not from Amazon.
• Boox Note Air 5C – the most versatile but expensive e-reader.
• Remarkable Paper Pro – this is more of a note-taking device, but it is a fantastic note-taker and organiser.
• Kobo Libra Colour – only if you want a bit of colour on your e-reader. And some old-fashioned buttons.

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