German optical tech firm Carl Zeiss AG has inaugurated its first global capability centre (GCC) in Bengaluru, India, and plans to double its local workforce to 5,000 over the next three years. The new centre will focus on cloud computing, cybersecurity, and network operations, alongside software development for Carl Zeiss’s medical tech division. This move highlights India’s transformation from an outsourcing destination to a strategic base supporting global operations.
Beyond the GCC, Zeiss is expanding its presence in Bengaluru with a new manufacturing plant slated to open in 2025. This facility, the company’s largest investment outside Germany, will be its fifth in India, contributing to its workforce growth. The India unit, also involved in R&D and sales, is projected to reach a revenue of 22 billion rupees for the year ending September 2025—a 19% increase.
India’s GCC sector is booming, with Karnataka’s government aiming to double GCCs in the state by 2029. Industry reports expect the Indian GCC market to reach up to $105 billion by 2030, reflecting the country’s increasing role in global business support.
India’s financial crime agency is intensifying its probe into Flipkart and Amazon over alleged violations of foreign investment laws, with plans to summon executives from both companies after recent raids on their sellers. The Enforcement Directorate (ED) seized documents in last week’s raids, which a senior government source claims substantiate violations of India’s foreign investment laws. Under these laws, foreign e-commerce companies are restricted to operating as marketplaces without holding inventory, though the ED alleges that both Amazon and Flipkart have been exerting control over certain sellers.
This investigation adds to the growing regulatory scrutiny faced by the two e-commerce giants, which hold significant market shares in India’s $70 billion e-commerce sector. Previous findings from India’s antitrust authority suggested that both companies favour select sellers, allowing them to bypass marketplace-only regulations. One prominent Amazon seller, Appario, was reportedly raided and found to receive exclusive support from Amazon, including reduced fees and advanced retail tools.
The ED’s latest actions follow a pattern of increased regulatory focus on large e-commerce and delivery platforms, with recent antitrust findings indicating similar preferential treatment by food delivery services Zomato and Swiggy. As India’s retail landscape continues to expand, regulatory bodies are pushing for stricter compliance to ensure fair competition and protect smaller businesses.
Vietnam has warned Chinese online retailers Shein and Temu to register with the government by the end of November or face potential blocks on their websites and apps. The move follows concerns from Vietnam’s government and local businesses about the impact of foreign e-commerce platforms on local markets, especially regarding deep discounts and counterfeit goods. Deputy Trade Minister Nguyen Hoang Long stated that if Shein and Temu do not comply, technical measures will be taken to restrict access to their platforms.
Shein has been active in Vietnam for two years, while Temu only recently launched in the country. Shein expressed its commitment to adhering to Vietnam’s regulations, but Temu has yet to respond. This registration requirement comes amid broader scrutiny of ultra-low-cost foreign retailers in Southeast Asia, as governments like Indonesia’s have asked app stores to block Temu to support small businesses.
Vietnam’s e-commerce market, the third largest in Southeast Asia at $22 billion, is rapidly growing. Alongside Shein and Temu, the market features popular platforms like Shopee, Lazada, and local players Tiki and Sendo.
Taiwan Semiconductor Manufacturing Co. (TSMC) confirmed that its investment plans in the United States will continue unchanged, following the election of Donald Trump as the next US president. TSMC, a leading global chipmaker and supplier to tech giants like Apple and Nvidia, is investing $65 billion in new semiconductor factories in Arizona.
Despite Trump’s previous comments accusing Taiwan of harming the US semiconductor industry, TSMC has recently secured a $6.6 billion subsidy from the US Commerce Department to support advanced chip production in Phoenix. TSMC’s US unit, along with other firms like GlobalFoundries, is expected to receive additional support under the Biden administration’s Chips and Science Act.
TSMC shares have remained resilient, bolstered by strong demand for AI technology, with its American Depositary Receipts rising 4.1% on Thursday as Nvidia’s stock surged, helping drive investor confidence.
India’s financial crime agency has conducted raids at the offices of several sellers on Amazon and Flipkart, investigating alleged violations of foreign investment rules. This development follows a recent report from India’s antitrust body, which accused the e-commerce giants of favoring certain sellers and limiting fair competition. The Enforcement Directorate (ED) carried out searches in major cities, including New Delhi and Bengaluru, focusing on sellers suspected of being influenced by Amazon and Flipkart to manipulate prices.
This probe adds to Amazon and Flipkart’s regulatory struggles in India, one of their largest and fastest-growing markets. The Indian government has accused both companies of effectively controlling inventory through select sellers, despite regulations prohibiting foreign companies from direct multi-brand retail. Amazon and Flipkart, owned by Walmart, insist they comply with Indian laws and emphasize that they serve only as marketplace platforms.
While neither company has yet responded to these latest raids, they continue to face increasing scrutiny as India strengthens its regulatory approach to foreign e-commerce giants. The outcome could significantly impact how these companies operate within India, as the government seeks to ensure a more level playing field for local sellers.
French AI startup LightOn launched an initial public offering (IPO) on the Euronext Growth market in Paris, with its debut trading expected later this month. The company, known for its large language model (LLM) software used by businesses and the French government, will be Europe’s first publicly listed generative AI startup, a significant milestone as France aims to position itself as a leader in AI within Europe.
LightOn’s co-CEOs Igor Carron and Laurent Daudet emphasised that the IPO provides a ‘unique opportunity’ for investors to support a growing French tech company with a track record of success both in France and internationally. Shares are priced at 10.35 euros, valuing the company at around 50 million euros, and LightOn aims to raise roughly 10.4 million euros through the capital increase. The subscription period will run until November 20, with shares expected to trade beginning 26 November.
This move aligns with France’s broader push to close the innovation gap with the US and the UK, with ambitions for 100 tech ‘unicorns’ by 2030. LightOn’s listing could signal an opening for more European AI firms to seek public funding, offering investors access to an evolving tech market in the region.
Amazon is reportedly in advanced talks for a second multi-billion dollar investment in the AI startup Anthropic, building on its previous $4 billion commitment made in 2023. This new investment would not only bolster Amazon’s growing ties with Anthropic but also help enhance its strategic position in the highly competitive AI sector. Anthropic, which is using Amazon Web Services (AWS) to power its AI model training, has become a key player in the AI race.
In addition to providing financial backing, Amazon has reportedly asked Anthropic to utilise its servers, which are powered by Amazon’s custom-designed chips. However, sources note that Anthropic has a preference for using Nvidia-designed chips, which are widely recognised as the industry standard for AI processing. This dynamic highlights the ongoing competition between Amazon and Nvidia in the AI hardware space, as both tech giants vie for dominance in the rapidly expanding market.
Anthropic, founded by former OpenAI executives Dario and Daniela Amodei, has attracted significant interest from other major players in the tech industry. The startup secured a $500 million investment from Google’s parent company, Alphabet, last year, with Alphabet pledging an additional $1.5 billion over time. Despite these investments, both Amazon and Anthropic have declined to comment on the specifics of the latest talks regarding the new investment, underscoring the confidential nature of these high-stakes negotiations.
Italy is adjusting its web tax policy, expanding it to cover smaller digital firms in an effort to address US concerns that the tax unfairly targets American tech giants. The decision, announced by Economy Minister Giancarlo Giorgetti, aims to defuse Washington’s threat of retaliatory tariffs. Italy first implemented a 3% digital service tax in 2019, focusing on large companies with annual global revenues over €750M, including giants like Meta, Google, and Amazon.
Now, under the proposed 2025 budget, Italy plans to eliminate the revenue threshold to broaden the tax’s reach to smaller companies. This change is expected to generate an additional €51.6M, supplementing the existing €400M in tax revenue. Giorgetti hopes this expansion will address US concerns over discrimination, noting that other EU countries may follow Italy’s lead.
Despite this effort, resistance remains within Italy’s government, as some coalition members argue the tax should focus exclusively on large US tech firms. As global efforts to establish a minimum digital tax remain stalled due to international disagreements, Italy’s adjustments reflect its attempt to balance international relations with economic interests.
If Elon Musk takes up a role in the incoming Trump administration, he could still face personal liability from the European Commission for potential breaches of the Digital Services Act (DSA) by his company X. The EU executive emphasised that the US election would not affect its enforcement of platform rules. X is under investigation for failing to curb illegal content and allowing dark patterns, with a decision expected soon.
Musk’s potential appointment would not provide him immunity from any fines or legal actions under the DSA, according to a European Union spokesperson. While the Commission can fine a business entity or a decision-maker, it remains unclear if Musk himself would be personally held accountable, though he could face penalties based on his company’s worldwide turnover.
Despite being praised by Trump and potentially offered a cabinet role, Musk’s relationship with the EU remains complex. Former EU Commissioner Thierry Breton stated that any necessary corrections to X’s operations would be enforced, even if political tensions arise. If Musk takes a public position, it’s uncertain how his actions might affect the regulatory landscape for tech companies in Europe.
India’s antitrust regulator, the Competition Commission of India (CCI), has found that food delivery giants Zomato and Swiggy violated competition laws by favouring select restaurants on their platforms. According to the CCI’s investigation, Zomato used ‘exclusivity contracts’ to offer lower commissions to certain partners, while Swiggy promised growth to restaurants that listed exclusively with them. These practices, the report states, hinder market competition, as they prevent smaller players from gaining a fair foothold.
The investigation, which began in 2022 following a complaint by the National Restaurant Association of India, also highlights restrictive pricing practices on both platforms. Zomato imposed conditions to maintain price and discount parity across online platforms, even threatening penalties for non-compliance. Swiggy, on the other hand, pressured some partners by suggesting their ranking on the app would drop if they failed to match prices elsewhere. Swiggy later claimed that it discontinued its exclusivity program in 2023 but has plans to launch similar initiatives in smaller cities.
The probe has potential implications for Swiggy’s $1.4 billion IPO and lists the CCI investigation as an “internal risk” in its prospectus. Both companies have faced additional scrutiny recently, as India’s largest retail distributors have urged the CCI to investigate alleged predatory pricing in their quick-commerce grocery services. The CCI’s final decision on penalties or required changes to Zomato’s and Swiggy’s business practices is expected in the coming weeks, though the companies may challenge the findings.