From Ashwini Vaishnaw on AI regulation diplomacy to IndiGo's competition blitz, our top stories of the week

In this week's newsletter, also read about why Indian pharma companies are fast-tracking alternatives to weight-loss blockbusters like Ozempic; how India is reshaping global trade flows, and revisit the enigma of crypto kingpin Justin Sun

  • Published:
  • 24/05/2025 10:00 AM

1) Ashwini Vaishnaw and India's AI mission

Ashwini Vaishnaw, Minister for Railways, Information & Broadcasting, and Electronics & IT Image: Amit Dave / Reuters
While there is no denying that artificial intelligence (AI) is changing the way society functions daily, its involvement at such a minute level also requires oversight to protect the interests of that same society. In an exclusive interview with Forbes India, Minister for Railways, Information & Broadcasting, and Electronics & IT Ashwini Vaishnaw reveals how the country is working on a framework that balances innovation and safety, while drawing on its democratic ethos to shape tech policy. Vaishnaw positions India not as a follower of Western models, but as a frontrunner in creating an inclusive, transparent, and locally rooted governance architecture. Read more about his insights on India's AI mission and semiconductor readiness in this exclusive interview.

2) Onto global dominance

Pieter Elbers, CEO, IndiGo Airlines. Image: Amit Verma
First, IndiGo went for the domestic market, long a monopoly of Air India. Now, it is also chasing Tata Group's legacy brand in international skies. Under the leadership of CEO Pieter Elbers, India’s largest airline is now matching Air India’s aggressive expansion with long-haul ambitions, wide-body aircraft orders, and a growing presence in global aviation hubs. Efficiency, brand consistency, and new routes to Asia, Europe, and beyond are what InterGlobe Aviation Limited is banking on. This turf war in the skies is already redefining India's aviation landscape.

3) GLP-1 gold rush and India

Blockbuster drugs like Ozempic and Mounjaro—initially developed for diabetes—have opened up a multi-billion-dollar market in weight management. Indian pharmaceutical giants like Sun Pharma, Cipla, Biocon, and Mankind Pharma are now racing to catch up, investing in GLP-1 class drug R&D and exploring biosimilar partnerships. Despite steep regulatory hurdles, production complexity, and aggressive global competition, everyone wants to come ahead in the race. But does that really help the consumer? Here's a deep analysis of whether the risks outweigh the rewards.

Discover

1) Reshaping global commerce

 Image: Ben Stansall / AFP

As the global economy undergoes a structural transformation, India is moving swiftly to reposition itself within the evolving trade landscape. While the government is crafting policies aimed at boosting manufacturing, such as PLI schemes and significant bilateral free trade agreements, such as the one struck with the UK, it is also signalling a proactive shift from protectionism to strategic openness. The recent spike in smartphones, machinery, and electric component exports reveals a shift from raw material exporter to high-value player. With friendshoring, China+1 strategies, and global protectionism shaping the narrative, India is emerging as a reliable, resilient alternative, reshaping global commerce one corridor at a time.

2) Thriving in controversy

Justin Sun. Image: Gareth Brown for Forbes

He’s been called a genius, a grifter, and everything in between. Justin Sun, founder of the Tron blockchain and a serial crypto provocateur, continues defying regulation and reinvention. Sun thrives in the grey zones of decentralised finance, from secretive token launches to controversial acquisitions. While critics question his ethics, others see him as the ultimate survivalist in an industry that constantly rewrites its own rules. Either way, Sun remains one of crypto’s most polarising and relevant figures. Here's all you need to know about the man who also bought a $6.2 million banana duct-taped artwork by Maurizio Cattelan and ate it.

3) Working with AI

May Habib. Image: Guerin Blask For Forbes

In the crowded AI space, May Habib's Writer stands out not just for building cutting-edge tools but also for positioning itself as an indispensable ally to modern knowledge work. Her company offers AI Studio, a suite of enterprise-focused generative AI tools designed to tackle the repetitive, tedious, and costly tasks that bog down corporate teams. While tech giants chase AGI moonshots, Habib is betting on pragmatic, task-oriented AI that delivers measurable value today. With Writer, she’s not just selling software, she’s quietly advocating a more efficient, reimagined way of working.

4) Making teens money-smart

Image: Shutterstock

In today’s cashless, tap-to-pay world, teenagers are already making financial choices—often without the tools to understand their impact. IIT Bombay faculty argue that the teenage years are the ideal window for building sound money habits. Core financial behaviours, they note, begin forming as early as age seven, and by adolescence, teens are already navigating real financial decisions—from resisting in-app purchases to spending allowances. They make a compelling case for early, hands-on money education at home and in schools as a protective shield and a launchpad for confident, financially capable adults.