THE Covid pandemic was a challenging time for people and businesses, but for one Indian company, the lockdown restrictions proved to be a blessing in disguise.
Online maths tutorial site Cuemath launched in the UK at the end of June, prompted by a surge in enquiries by families whose children were forced into home schooled as strict lockdown meant schools and offices were shut for long months.
Founder and chief executive officer (CEO) of Cuemath, Manan Khurma, told Eastern Eye in an exclusive interview, “Parents are feeling anxious over their children falling behind because of school closures caused by the pandemic and they have chosen Cuemath while looking for helping resources.
“Our name spread fast by word-of-mouth alone and that has taken us closer to more people.”
Year 5 pupils take a maths class at Outwood Primary Academy Park Hill in Wakefield, northern England. (Photo by Oli SCARFF / AFP) (Photo by OLI SCARFF/AFP via Getty Images)
At the time of its launch in the UK, Cuemath saw 4,200 students sign up for its tutorials.
In India, Cuemath has a student base of 600,000 and it caters to students from kindergarten to Grade 12. The company goes beyond teaching mathematics as it also trains students in coding, data science and logic.
Khurma said “traditional” ways of teaching mathematics often make students nervous.
“Learning mathematics by memorising will not help students grow an interest in the subject. We thought about bringing innovative ways to teach it,” he said.
The man, who holds a bachelor’s degree in electronics and communications engineering from the Indian Institute of Technology, Delhi, and started his career in 2007 as the founder of Locus Education in New Delhi, subsequently started on December 22 (in 2013), the birthday of Srinivasa Ramanujan, one of the greatest mathematicians from India. The day is also observed as the National Math Day in India.
Cuemath’s journey has only grown bigger since then and in 2021-22, it looks to penetrate at least 30 markets and reach a valuation of $1 billion by the end of 2022. It is also the only Indian edtech to secure a Google Education partnership.
Cuemath also caters to poor students in India: CEO
Khurma is also considerate of the fact that not all students in India are blessed with technological advantages. Several students from humble backgrounds in India are not able to attend online classes in times of the pandemic because they lack suitable devices and are in danger of missing important lessons.
“We do have a plan for them," Khurma said, adding, “Our website offers free resources for such needy students. In smaller towns and villages in India, there might not be laptops for poor students but mobile phones with internet connection have done a fairly good penetration in those areas. If they just have a phone with the internet, they can avail our handy resources. We have a lot of students in smaller places in India and they are benefiting.”
Eastern Eye also asked the Cuemath chief about the pay structure that the students have to meet to get its lessons. He said the platform operates by charging on a per-class basis. Citing that the model works well in favour of both students and teachers, Khurma said, “Our teachers are trained and well oriented to take one on one or one to many classes with a fixed payout, and the differential goes to Cuemath. Thus, we are not only imparting high-quality education to children but also generating meaningful livelihood opportunities for people who have the passion to teach.”
One advantage with Cuemath’s teaching is that it makes the students learn the subject intuitively and deeply, which makes challenging concepts easier for them and builds an independent thinker in them. This model is applicable to students across the globe and according to Khurma, this approach helps in making “invincible problem solvers” out of the students “who will go on to solve humanity’s biggest problems”, something that its website promises.
“When one tries to understand a crisis like the current pandemic, mathematics does play a big role. For example, we have heard about the ‘R naught’ factor. It is a mathematical term that gives an idea how contagious a disease is and how exponentially it is growing. So, with the help of mathematics, we can be in a position to assess situations like this,” the Cuemath CEO said while explaining how maths can help make students become problem solvers.
“Likewise, problems in any field like wildlife conservation or any profession, like in medical, art or science, can be computed with the help of mathematics,” Khurma added.
Cuemath's teachers are as important
But Cuemath’s story is not just about its students. The teaching community involved with its work is equally important for the success story. The platform is well-aware of the fact that in order to produce students who are strong in maths, it has to have teachers with the ability to deliver.
“Our teacher-selection process is stringent. Only three per cent of the applicants get selected. Teaching for Cuemath is an entirely different experience. We mainly look for two things in the applicants. One, people who have a mathematical background, like those who have an engineering or science background. Two, those who have the capacity to work with kids. That is very important,” Khurma said while stressing how much care they do take in maintaining Cuemath’s high standards.
The CEO also said that Cuemath’s current faculty of 10,000-plus teachers is based in India although they also have plans to get teachers from other parts of the world as well. One of the reasons that he cited for recruiting only Indian teachers so far is that the Indian accent is more or less neutral and that helps in adapting to various dialects of the world.
Eastern Eye asked Khurma whether anything like gender inequality prevails on Cuemath’s platform since it is often said that mathematics is a subject for boys and not girls. “We often get to hear that mathematics is for boys and girls are weak in the subject. But our experience at Cuemath doesn’t support that theory. Girls are found to be as good as boys on our platform. There is no room for any gender bias on this matter at Cuemath,” Khurma said, adding that an overwhelming 93 per cent of Cuemath’s faculty are women.
Piyush Goyal recalled that in February, Narendra Modi and Donald Trump had instructed their trade ministers to conclude the first phase of the bilateral trade agreement (BTA) by November 2025. (Photo: Getty Images)
INDIA’s commerce and industry minister Piyush Goyal on Thursday said that negotiations on the proposed trade agreement between India and the United States, which began in March, are progressing in a positive atmosphere and both sides are satisfied with the discussions.
He recalled that in February, Indian prime minister Narendra Modi and US president Donald Trump had instructed their trade ministers to conclude the first phase of the bilateral trade agreement (BTA) by November 2025.
“Discussions have been going on in a positive atmosphere with seriousness since March. It is progressing, and both the countries are satisfied with the progress,” Goyal told reporters. On Wednesday, he had also said that India is in “active dialogue” with the United States.
Trump this week said there would be “no difficulty” for the two countries to reach a successful conclusion and that he looked forward to speaking with his “very good friend” Modi in the coming weeks. In a post on Truth Social, he wrote he was “pleased to announce that India, and the United States of America, are continuing negotiations to address the Trade Barriers between our two Nations.”
Modi responded on X, welcoming Trump’s statement and expressing confidence that the negotiations would help unlock the potential of the partnership. He said India and the US are close friends and natural partners and are working to conclude the discussions at the earliest.
The two countries have completed five rounds of negotiations since March. The sixth round, scheduled to take place in India last month, was deferred after Washington imposed an additional 25 per cent tariff on Indian goods over purchases of Russian crude oil.
The aim of the pact is to more than double bilateral trade in goods and services to USD 500 billion by 2030 from the current USD 191 bn. Trade ties have been strained due to tariffs, with the US imposing a 50 per cent import duty on Indian goods from August 27. The move has hit exports from labour-intensive sectors such as shrimp, textiles, leather and footwear. India has described the tariffs as unfair, unjustified and unreasonable.
Talks have also been delayed over US demands for greater access in sensitive sectors such as agriculture and dairy. India has said repeatedly that it will not compromise the interests of small and marginal farmers and cattle rearers.
The US is India’s largest trading partner. In 2024-25, bilateral trade in goods was USD 131.8 bn, with India’s exports at USD 86.5 bn and imports at USD 45.3 bn. The US is also the third-largest investor in India, with foreign direct investment of USD 76.26 bn between April 2000 and June 2025, accounting for 10 per cent of India’s total FDI inflows.
On protests in Nepal, Goyal said the Indian government is monitoring the situation and working to bring back Indian citizens stranded there. He added that the Indian mission in Nepal is ready to provide support and expressed hope for normalcy to return soon.
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At 40, Bhatt is the only person of Indian origin in this group, which includes figures such as Meta’s Mark Zuckerberg. (Photo: Getty Images)
INDIAN-AMERICAN entrepreneur Baiju Bhatt, co-founder of the commission-free trading platform Robinhood, has been named among the 10 youngest billionaires in the United States in the 2025 Forbes 400 list.
At 40, Bhatt is the only person of Indian origin in this group, which includes figures such as Meta’s Mark Zuckerberg. Forbes estimates his net worth at around USD 6–7 billion (£4.4–5.1 billion), primarily from his roughly 6 per cent ownership in Robinhood.
Bhatt was born in 1984 in Poquoson, Virginia, to immigrant parents from Gujarat, India. His father, an aerospace engineer, worked at NASA. He grew up in a household where English was a second language and money was limited. He later attended Stanford University, where he studied physics and earned a master’s degree in mathematics.
In 2013, Bhatt co-founded Robinhood with Vlad Tenev, a fellow Stanford graduate. The platform introduced commission-free stock trading to retail investors in the United States and later expanded into retirement accounts and high-yield savings products. The company gained widespread attention during the Covid-19 pandemic, when trading activity surged around so-called meme stocks.
Robinhood went public in 2021 at the height of the retail investing boom. Bhatt served as co-CEO with Tenev until 2020, when he moved into the role of chief creative officer. In 2024, he stepped down from his executive position but continues to serve on Robinhood’s board of directors while retaining his 6 per cent stake.
Robinhood’s stock has seen significant gains over the past year, rising by about 400 per cent. The increase has been linked to a boost in cryptocurrency-related sales, new products such as individual retirement accounts and high-yield savings, and a strong performance in 2024, when the company reported USD 3 billion (£2.2 billion) in revenue.
Bhatt’s recognition in the Forbes 400 list underscores the continuing influence of technology entrepreneurs in the American financial sector. His career reflects the trajectory of several Indian-origin leaders in the United States, who have made a mark in technology and finance in recent years.
Forbes’ annual ranking of the 400 wealthiest Americans is based on estimates of net worth, which include publicly disclosed stakes in companies, real estate holdings, and other assets. Bhatt joins the ranks of young billionaires who have built fortunes through technology-driven ventures.
In addition to his role with Robinhood, Bhatt has been noted for his early life influences. Growing up in Virginia, he was exposed to science and technology through his father’s aerospace career. His academic path at Stanford provided the foundation to pursue entrepreneurial opportunities in financial technology.
Robinhood, under the leadership of Bhatt and Tenev, has changed how millions of Americans approach investing by lowering barriers to entry. While Bhatt is no longer in an executive role, his continued stake in the company keeps him closely tied to its growth and future direction.
Bhatt’s inclusion in the 2025 Forbes 400 as one of the youngest billionaires highlights his role in shaping retail investing and signals the growing presence of Indian-origin entrepreneurs in the US technology and finance industries.
(With agency inputs)
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The Canary Wharf business district including global financial institutions in London. (Photo: Getty Images)
UK's ECONOMY showed no growth in July, according to official data released on Friday, adding to a difficult week for prime minister Keir Starmer’s government.
The Office for National Statistics (ONS) said gross domestic product was flat in July, following a 0.4 per cent rise in June.
The government has faced two major setbacks this week. Deputy prime minister Angela Rayner resigned over failing to pay a property tax, and on Thursday, Starmer dismissed Peter Mandelson as ambassador to Washington after new disclosures about his ties with sex offender Jeffrey Epstein.
While the July GDP figure matched market expectations, limiting the effect on the pound, the government admitted challenges in lifting growth.
"We know there's more to do to boost growth, because, whilst our economy isn't broken, it does feel stuck," a Treasury spokesperson said, as Labour prepared for its budget announcement in late November.
The data showed a 1.3 per cent fall in production, offsetting gains in services and construction.
"The stagnation in real GDP in July shows that the economy is still struggling to gain decent momentum in the face of the drag from previous hikes in taxes and possible further tax rises to come in the budget," said Paul Dales, chief UK economist at Capital Economics.
Chancellor Rachel Reeves said last week that she would maintain a "tight grip" on public spending, setting November 26 for her budget speech.
The UK economy has faced weak growth since Reeves raised taxes and reduced public spending after Labour’s election win in July last year.
Separate ONS data on Friday showed exports of goods to the United States rose in July but stayed below levels seen before US president Donald Trump’s tariff measures.
Exports to the US increased by £800 million after London and Washington reached a trade deal that eased some tariffs, particularly on UK-made vehicles.
Trump will visit the UK next week for a state visit that includes talks with Starmer and a banquet hosted by King Charles.
(With inputs from agencies)
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India’s $283 billion IT industry, which contributes more than 7 per cent to the country’s GDP, has for over three decades provided services to major clients including Apple, American Express, Cisco, Citigroup, FedEx and Home Depot.
INDIA’s IT sector is facing uncertainty as US lawmakers consider a 25 per cent tax on companies using foreign outsourcing services.
Analysts and lawyers said the proposal has led to customers delaying or re-negotiating contracts, raising concerns in India, the world’s largest outsourcing hub.
They said the bill is unlikely to pass in its current form but could trigger long-term changes in how American firms purchase IT services. Companies heavily dependent on outsourcing are expected to resist the move, setting up lobbying and possible legal battles.
India’s $283 billion IT industry, which contributes more than 7 per cent to the country’s GDP, has for over three decades provided services to major clients including Apple, American Express, Cisco, Citigroup, FedEx and Home Depot. The industry has also faced criticism abroad over jobs shifting to India.
Last week, Republican Senator Bernie Moreno introduced the HIRE Act, which proposes taxing companies that hire foreign workers instead of Americans. The bill also aims to prevent firms from claiming outsourcing expenses as tax-deductible, with the revenue directed toward US workforce development.
The proposal comes at a difficult time for Indian IT, which is already seeing weak revenue growth in its key US market as clients cut non-essential spending due to inflation and tariff concerns.
“The HIRE Act proposes sweeping changes that could alter the economics of outsourcing and significantly increase the tax liability associated with international service contracts,” said Jignesh Thakkar, EY India’s compliance head.
In some cases, combined federal, state and local taxes could raise the levy on outsourced payments to as much as 60 per cent, Thakkar added.
“While its partisan proposal may seem initially attractive, it’s ultimately an artificial cost which makes organisations less competitive and profitable globally,” said Arun Prabhu, partner at Cyril Amarchand Mangaldas.
The idea has been gaining traction. This month, White House trade adviser Peter Navarro reposted a call from far-right activist Jack Posobiec for tariffs on services as well as goods.
“When political noise turns into regulatory risk, clients quickly insert contingencies, reopen pricing and demand delivery flexibility,” said Saurabh Gupta, President of HFS Research. “Clients will simply take longer to sign, longer to renew, and longer to commit transformation dollars,” Gupta said.
Backlash expected
Industry watchers said US firms are likely to push back strongly against the bill and challenge it legally if it is enacted.
“A bill like this would probably face a lot of backlash from US companies that rely heavily on outsourcing, who would likely bring litigation to challenge various aspects of the bill, if it were ever to be passed into law,” said Sophie Alcorn, CEO of Alcorn Immigration Law.
Analysts noted that sweeping restrictions are unlikely due to the difficulties of enforcement. “More likely is a diluted version, with narrower provisions or delayed enforcement,” said HFS Research CEO Phil Fersht.
The bill could also affect US firms’ global capability centres (GCCs), which have developed from offshore back offices to high-value hubs for research, finance and operations.
“It will be hard to pull back from existing work, but new set-ups and expansion may get impacted,” said Yugal Joshi, partner at Everest Group.
The proposed tax will affect the cost advantage that drives GCC location decisions, said Bharath Reddy, partner at CAM.
“However, the lack of availability of appropriate human capital in the US will continue as a problem, and which can be addressed in the near future only through outsourcing,” he added.
(With inputs from Reuters)
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'Our economy isn't broken, but it does feel stuck,' Reeves said, speaking alongside the release of a finance ministry report on business property taxation, known as rates.
CHANCELLOR Rachel Reeves said on Thursday she is considering changes to business property taxes to support small firms looking to expand, as part of her plans to boost growth.
Reeves’ comments come ahead of her annual budget on November 26, at a time when concerns about possible tax rises and inflation are weighing on businesses and households.
Economists expect Reeves will have to raise tens of billions of pounds in additional revenue, citing higher borrowing costs, weaker growth prospects and parliament’s rejection of welfare cuts.
"Our economy isn't broken, but it does feel stuck," Reeves said, speaking alongside the release of a finance ministry report on business property taxation, known as rates.
The report suggested reducing sudden tax increases for small businesses when they expand.
"Tax reforms such as tackling cliff-edges in business rates and making reliefs fairer are vital to driving growth," Reeves said in a statement.
Other options under review include changes to how the tax is calculated and additional reliefs when a property’s value rises after improvements. Further details will be set out in the budget, the ministry said.
Helen Dickinson, chief executive of the British Retail Consortium, welcomed the proposals but said the government should provide clarity on a promised reduction in rates for retail, hospitality and leisure businesses.
"Until we get clarity on these changes, which isn’t expected until the budget, many local investments in jobs and stores are being held back," she said.