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Suresh Prabhu Is The New Minister Of Commerce
Suresh Prabhu is the new Minister of Commerce and Industry, post a cabinet reshuffling that took place on Sunday. The former Railway Minister will take over the role from Nirmala Sitharaman. Sitharaman will take charge of the Ministry of Defence to become the second women defence minister after Indira Gandhi.
Speaking about his ninth cabinet level position Prabhu said, “I am extremely happy that the prime minister has asked me to do something in Make In India, Start-up India and ease of doing business in India. All of these are the flagship programmes of the government which have to be implemented and I look forward to doing that in the right earnest.” Prabhu recently met with Prime Minister Narendra Modi to offer his resignation as the Minister of Railways after taking the blame for the Kalinga Utkal Express’ derailment that killed 23 last month. In a series of tweets, he revealed the Prime Minister had asked him to ‘wait’ instead of resigning.
As the new Minister of Commerce, Prabhu said he will be responsible to ensure faster economic growth, address the challenge of creating more employment opportunities, bring in more foreign direct investments (FDI) and increase exports for greater competitiveness. Prabhu will be representing India in the upcoming Regional Comprehensive Economic Partnership (RCEP) negotiations and the upcoming WTO Ministerial in Buenos Aires in December. He will be facing the tough challenge of championing India’s trade interests at RCEP and will have to look for a permanent solution on public stockholding for India’s food security, as promised at the Bali Ministerial 2012, by the WTO members. He will also be announcing the new industrial policy which will be released this October to take the country out of the current industrial slump. A new industrial policy proposal was initially announced by Nirmala Sitharaman. Apart from that, Prabhu will also have to finalize the new Foreign Trade Policy for 2020-2025.
Nirmala Sitharaman, in her tenure as the minister of commerce, introduced several schemes for the benefit of the Indian startup ecosystem. She recently constituted a task force on artificial intelligence to leverage AI for development across various fields and launched a Rs. 2000 crores credit fund guarantee scheme for startups. She also successfully set up the Startup India Hub, a virtual platform to host startups, investors, funds, mentors, academia, incubators, accelerators, corporates, government bodies and more in order to be a dynamic and interactive platform.
Peak XV Partners has launched three new funds totaling $1.3 billion, targeting India’s booming startup ecosystem. The lineup features the $600M Surge fund (8th edition) for early-stage ventures, a $300M Growth Fund for Series B+ scaling, and a $400M Acceleration Fund for rapid portfolio expansion. This commitment arrives as India’s VC inflows rebound, with AI and fintech leading 2026 trends.
These funds build on Peak XV’s legacy of backing unicorns like Zomato and Pine Labs, offering founders capital plus strategic guidance amid post-winter recovery. Early-stage deals surged 20% last year per Tracxn, positioning Peak XV to fuel the next wave of innovation in SaaS, climate tech, and consumer plays.
For startups eyeing Peak XV new funds or Surge fund 2026 applications, this signals prime opportunities. Investors and marketers should watch for deployment updates India remains a global VC hotspot.
Hyderabad, January 13, 2026 Neeman’s, India’s leading D2C footwear brand famed for sustainable shoes and patented PIXLL® technology, has raised $4 million from existing investors. This funding boosts its cumulative capital past $10 million since 2015, with a post-money valuation nearing $50 million. CEO Vijay Chahoria emphasized offline retail as the “next frontier,” planning 50+ new stores in Tier 2/3 cities like Jaipur and Lucknow to blend eco-friendly innovation with hands-on customer experiences.
In India’s booming D2C ecosystem where footwear sales hit ₹1.2 lakh crore in 2025 Neeman’s targets hybrid retail amid high online CAC and 25-30% returns. Backed by vegan, machine-washable shoes priced ₹2,000-4,000, the brand leverages PIXLL® (5x more breathable than leather) for carbon-neutral comfort. Recent 5x revenue growth to ₹100 crore ARR, 1M+ pairs sold via Myntra and stores, and awards at India D2C Summit 2025 position it ahead of rivals like Paaduks.
Neeman’s offline expansion India eyes the $15B sustainable footwear market by 2028, fueled by PLI schemes, Gen Z’s 70% eco-preference (Nielsen), and Southeast Asia exports. Challenges like real estate costs are offset by data-driven inventory and omnichannel QR tech. Watch for Q1 2026 launches in Hyderabad and Bengaluru redefining D2C success through authentic, “Wear the Change” branding.
The Centre is weighing the option of revoking X’s safe harbour status in India after its AI chatbot Grok was allegedly misused to generate and circulate obscene and sexually explicit content, including material seemingly involving minors. The IT Ministry has already issued a notice to X, directing the platform to remove unlawful content, fix Grok’s safeguards, act against violators, and submit a detailed compliance report within a tight deadline. If the government finds X’s response inadequate, it could argue that the platform has failed to meet due‑diligence standards under Indian law, opening the door to harsher action.
Under Section 79 of the IT Act, safe harbour protects intermediaries like X from being held directly liable for user‑generated content, provided they follow due‑diligence rules and promptly act on legal takedown orders. Revoking this protection would mean X and its officers could be exposed to criminal and civil liability for obscene, unlawful, or harmful content that remains on the platform, including AI‑generated images from Grok. This prospect significantly raises X’s compliance risk in India and could force tighter moderation, stricter AI controls, and more aggressive removal of flagged posts.
The Grok episode also spotlights the regulatory grey zone around generative AI, where tools can create harmful content at scale even without traditional user uploads. Policymakers are increasingly questioning whether AI outputs should still enjoy the same intermediary protections as conventional user posts, especially when they involve women and children. How the government ultimately proceeds against X over Grok misuse could set a precedent for AI accountability, platform responsibility, and safe harbour interpretation in India’s fast‑evolving digital ecosystem.
Peak XV New Funds: $1.3B Commitment for India Startup Surge 2026
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