HCLTech said it will invest $150 million (around ₹1,427 crore) as a lead strategic investor in Sarvam AI, taking a minority stake as part of the company’s $234 million Series B round. The companies said the partnership is aimed at building a sovereign AI platform for enterprises and governments, combining Sarvam’s model research with HCLTech’s global reach. Sarvam has released several models trained from scratch in India, spanning document recognition, speech transcription and conversational AI use cases. HCLTech said the investment is a strategic equity stake and does not involve issuing new shares or raising debt.

India’s gems and jewellery exports fell 2% year on year in May to $2.05 billion, as gold availability tightened and uncertainty linked to the US–Iran war weighed on demand. Gold jewellery exports dropped 15%, while gold used for export production in April–May declined 21% to 11 tonnes from 14 tonnes a year earlier. The gold import duty was raised to 15% from 6%, and regulatory bottlenecks in bank channels further squeezed supply and lifted costs. The development reinforces gold’s scarcity-driven cost support and is a short-term catalyst for higher prices.