💹 *Daily Business Briefs | Friday, 31 Jul 2026*

_Markets open — Q1 results season in full swing_

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📊 *ECONOMY & POLICY*

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📉 *Steel exports may fall 30% in FY27*

The EU’s tightening of steel import quotas threatens to sharply cut India’s steel export volumes next fiscal year.

Domestic mills already facing soft global demand now face a shrinking export window — watch Tata Steel, JSW Steel and SAIL for margin commentary this earnings season.

📎 _Read: Business Standard_

https://www.business-standard.com/india-news/indian-steel-exports-may-fall-up-to-30-in-fy27-as-eu-tightens-quotas-126073001337_1.html

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🏢 *COMPANIES*

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💰 *Zepto pauses IPO, raises ₹1,000 cr pre-IPO*

Zepto has shelved its public listing for now, instead closing a ₹1,000 crore pre-IPO round that values the quick-commerce player at $4.5 billion.

Signals founders see better pricing power later — worth tracking against Swiggy Instamart and Blinkit’s own listed/public performance.

📎 _Read: Business Standard_

https://www.business-standard.com/companies/news/zepto-pauses-ipo-to-raise-rs-1k-cr-in-pre-ipo-round-at-4-5-bn-valuation-126073001618_1.html

💻 *Sarvam AI to build trillion-parameter model*

Bengaluru’s Sarvam AI unveiled plans for a trillion-plus-parameter frontier model built from scratch in India, alongside a new India-hosted inference platform, “Sarvam Inference.”

A marker of India’s push for AI sovereignty — the model targets coding, cybersecurity and science workloads at a steep price discount to global rivals, a potential enterprise cost lever if delivered on time.

📎 _Read: Inc42_

https://inc42.com/buzz/sarvam-to-build-trillion-plus-ai-model-in-india-launches-inference-service

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🌍 *GLOBAL & WORLD*

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📉 *US Q2 GDP growth undershoots at 1.5%*

US growth came in below expectations despite resilient consumer spending, complicating the Fed’s read on the economy.

A softer US print keeps rate-cut hopes alive, which is generally supportive for FII flows into EM assets like India — watch how it plays through GIFT Nifty today.

📎 _Read: Business Standard_

https://www.business-standard.com/world-news/us-gdp-grows-less-than-expected-at-1-5-despite-strong-consumer-spending-126073001346_1.html

🔥 *Trump weighs $100,000 fee on foreign grad work visas*

The Trump administration is reportedly considering a $100,000 fee for international students to use Optional Practical Training (OPT) and work in the US after graduating.

Directly relevant for Indian IT/ER — Indian students are one of the largest OPT cohorts; a fee this size would squeeze the US-education-to-H-1B pipeline that feeds Indian tech talent flows both ways.

📎 _Read: Bloomberg_

https://www.bloomberg.com/news/articles/2026-07-30/trump-weighs-100-000-fee-for-foreign-students-to-work-post-grad

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_Compiled by InvestoScope · 31 Jul 2026_