By Ashok Chandak   The Export Control Framework for Artificial Intelligence (AI) diffusion, introduced by the Biden administration, is expected to significantly affect global AI development and deployment. These restrictions extend beyond U.S.-based companies, influencing nations like India, which now faces licensing requirements for importing advanced AI chips. Advanced AI Chip Control will be Tiered Access System (see image below ) Closest US Allies and Partners (18 countries): Unlimited chip access with robust export controls No restrictions for verified companies 2. Other Countries (non-embargoed): New licensing pathways for chip production/development...

Credit card spends in Cat B and C+ cities grew by 4X between 2019 and 2024, outpacing the 1.4X growth in metro cities. Share of online spending in Cat C+ cities soared from 53% to 73% across categories like apparel and travel, as well as digital services like gaming and online education. Visa has identified emerging opportunities for financial institutions to meet the rising demand for customised, secure financial solutions.   India’s digital payments landscape is seeing a remarkable surge with non-metro cities, particularly Cat B and Cat C+, emerging...