Navanthek 'Navi' Pillay, a South African lawyer of Indian descent whose work contributed to the formation of international law on genocide and sexual violence, received the 2026 Nobel Peace Prize for her efforts to promote peace and international law, according to reports from the former head of the UN Human Rights Office.
In other news, the Indian industry association Nasscom noted that few employees are transitioning from H-1B visas to permanent residency through the PERM labor certification process. This statement followed the US suspension of new permanent residency applications for foreign workers from companies such as Microsoft, Cognizant, Infosys, TCS, and HCLTech, citing abuses throughout the process.
Historically, Indian IT companies have been the largest recipients of H-1B visas and have faced criticism from successive US administrations for hindering employment opportunities for US citizens.
Furthermore, it is noted that Corporate Social Responsibility (CSR) spending by Global Capability Centers (GCCs) in India has increased by 6.4% over the last decade, accounting for 9% of India's corporate philanthropy, according to one study.
A study conducted by Sattva Consulting and India Data Insights showed that CSR spending by GCCs reached 3,661 crore rupees in fiscal year 25, demonstrating a Compound Annual Growth Rate (CAGR) of 20.4%, compared to the overall growth of CSR expenditure at 15%.
Meanwhile, NABVENTURES, a venture fund of the National Bank for Agriculture and Rural Development (NABARD), completed the closing of its second fund, securing initial commitments of 450 crore rupees. The target size of the fund is 1,500 crore rupees, including a 'green shoe' option for additional investment placement.
Payment technology company Juspay reported a 30% year-on-year revenue increase for the fiscal year ending March 31, 2026 (FY26), reaching 664 crore rupees compared to 514 crore rupees in FY25.
Today's newsletter discusses the revival of one of the oldest social networking sites—Orkut. Orkut founder Büyükkökten shared his vision for reviving Orkut on X, stating that the internet should foster genuine friendship, community, and a sense of belonging, and called on users to support the return of Orkut in this spirit.
Regarding the competition between Amazon and Flipkart during holiday sales, the battleground has shifted from simple discounts on standard goods to ultra-fast delivery (quick commerce integration), scaling supply chains outside major metropolitan areas, flexible payment options, and customer acquisition through technology (AI assistants and influencer commerce).