Daily Indian Funding Roundup & Key News - 24 July 2026: HCLTech Plans ₹14,257 Cr Odisha AI Data Centre, Flipkart Enters Food Delivery
There were no fresh startup funding rounds to report on 24 July 2026, with the day led instead by strategic and policy moves. HCLTech signed an MoU to build a ₹14,257 crore (~$1.5 billion) AI data centre in Odisha alongside Sarvam AI. Flipkart confirmed it will enter food delivery in the coming weeks, taking on Swiggy, Zomato and Rapido. The commerce ministry also eased FDI rules to let inventory-based platforms export from India, and the government ordered GitHub to disable access to the Bitchat messaging app.
Key Business News for 24 July 2026
HCLTech Commits ₹14,257 Crore to Maiden AI Data Centre in Odisha
HCLTech has signed a memorandum of understanding with its investee company Sarvam AI and the Odisha government to build an AI data centre in Bhubaneswar. The planned capital outlay is ₹14,257 crore (~$1.5 billion), with the state government expected to provide financial assistance. The facility will sit in the upcoming Odisha Sovereign AI Park and combine HCLTech's infrastructure with Sarvam's models to build sector-specific applications for enterprise and government customers. HCLTech had earlier led a $234 million (~₹2,210 crore) round in Sarvam in June, taking a 10.46% stake at a $1.5 billion valuation, and joins Reliance Industries and the Adani Group in the AI infrastructure race.
Flipkart to Enter Food Delivery, Rules Out Immediate IPO
Walmart-owned Flipkart will launch a food delivery service in the coming weeks, Group CEO Kalyan Krishnamurthy told Moneycontrol. The move pits it against Swiggy, Eternal-owned Zomato and Rapido's newly launched 'Ownly', less than a year after Flipkart entered quick commerce with Flipkart Minutes. The service will be offered both as a standalone app and within the main Flipkart app, though the launch city and branding are yet to be disclosed. Krishnamurthy also ruled out an immediate public listing, saying any IPO would depend on the company's readiness rather than a fixed timeline.
Commerce Ministry Eases FDI Rules for Ecommerce Exports
In a press note dated 23 July 2026, the commerce ministry relaxed foreign direct investment rules to let online marketplaces export products from India. The restrictions on the inventory-based model of ecommerce will no longer apply to exports of domestically manufactured or produced goods, with the norms effective immediately. FDI curbs continue for B2C and inventory-based platforms serving the local market. The change clears the way for Amazon and Flipkart to buy directly from Indian sellers for overseas resale, supporting the Centre's goal of $200-$300 billion in ecommerce exports by 2030.
Government Orders GitHub to Disable Access to Bitchat App
The Indian government has directed GitHub to disable access to three URLs linked to Bitchat, a Bluetooth mesh messaging application. The Indian Cyber Crime Coordination Centre (I4C), under the Ministry of Home Affairs, flagged the app for enabling decentralised peer-to-peer communication without mobile networks, internet, or centralised servers. The notification said the architecture impedes lawful interception and could be misused during public disorder or internet shutdowns. Bitchat developer and Twitter co-founder Jack Dorsey shared the order on X, saying the government does not like technologies like Bitchat and wants it taken down.
Muskaan Kapoor
