Chennai-based startup Mindgrove is set to begin commercial production of its Secure IoT chip, its founder and CEO Shashwath TR told Moneycontrol. The startup is in the final stage before the commercial rollout of the chip, which can power biometrics, smart meters, wearables and industrial devices, the report said. Mindgrove has claimed the chip reduces device costs by 30%.

UK's public health service NHS will grant Palantir 'unlimited access' to patient data as it works on building a data platform, the Financial Times reported. The NHS will create an "admin" role granting non-staff access to data, the report added. The country's financial regulator earlier signed a contract with Palantir, granting it access to sensitive financial data, reports had said.

Jewellery associations will meet officials from the Prime Minister's Office (PMO) on Tuesday, CNBC-TV18 reported. This comes after PM Narendra Modi appealed to people not to buy gold for a year. Notably, shares of jewellery companies fell sharply on Monday, with Kalyan Jewellers, Sky Gold and Senco Gold declining around 8% each on the exchanges.

The Indian rupee hit a record low of ₹95.17 against US dollar on Monday. This came after PM Narendra Modi urged citizens to reduce petrol and diesel consumption and defer gold purchases for a year amid Iran-US war. The fall also followed US President Donald Trump rejecting Iran’s response to a US peace proposal, which triggered crude oil price spike.

Opposition leaders reacted after PM Narendra Modi urged citizens to avoid gold purchase for a year, conserve fuel and gas and prioritise working from home. "These are very serious 'directives'...Government must...take the nation into confidence," Congress MP Karti Chidambaram said. "Policy failure to handle the ongoing Middle East conflict," Shiv Sena-UBT leader Priyanka Charturvedi said.

Microsoft CEO Satya Nadella is expected to testify in Elon Musk's lawsuit against OpenAI and its CEO, Sam Altman, on Monday. Nadella's testimony will revolve around Microsoft's role in funding OpenAI's shift from a philanthropic organisation to a for-profit firm. Elon Musk has accused OpenAI of misappropriating his donations worth $38 million and abandoning its non-profit mission.

China's factory-gate inflation hit a 45-month high in April amid rising energy costs due to the Middle East war. The producer price index (PPI) rose 2.8% year-on-year, according to National Bureau of Statistics (NBS) data released on Monday. The consumer price index (CPI) also rose 1.2% year-on-year in April, up from a 1% increase in March.

Indian equity benchmarks opened lower on Monday after PM Narendra Modi urged citizens to conserve fuel and avoid buying gold for a year amid rising energy prices. The shares of major jewellers fell sharply. Senco Gold dropped 8.98% to ₹332.60, Titan fell 5.34% to ₹4,268.10, while Kalyan Jewellers and PC Jeweller declined 7.43% and 3.89% to ₹393.00 and ₹9.13, respectively.

Sensex plunged over 1,000 points and Nifty fell over 300 points during intraday trade on Monday. The crash was driven by several factors, including Trump rejecting Iran's response to peace proposal and Brent crude surging 4% to $105.5/barrel. Other facts included rupee weakening to 94.88 against the dollar, PM Narendra Modi's fuel conservation call and rising US bond yields.

The US government has proposed a massive 30% hike in minimum wages under the H-1B visa programme, potentially reshaping global tech hiring. If implemented, entry-level H-1B salaries could rise from $73,279 to nearly $97,746 annually. The move aims to protect American workers, but it may significantly impact Indian IT firms, startups, outsourcing giants, and thousands of skilled professionals.