IBM Chairman and Chief Executive Officer Arvind Krishna has questioned whether the economics of the current artificial intelligence infrastructure race can justify the scale of spending being committed by major technology companies, saying the capital required to build data centres for artificial general intelligence may be difficult to recover under current assumptions. Speaking on The Verge's Decoder podcast with editor-in-chief Nilay Patel, Krishna said it costs about $80 billion to fill a one-gigawatt data centre at today's ☐ prices. A company committing 20-30 gigawatts of capacity would be looking at about $1.5 trillion of capital expenditure, he said.
India is seeking to seize a rare opportunity to promote its airports as hub alternatives to Dubai, Abu Dhabi, and Doha amid the travel disruptions in the Gulf due to the Iran war. The government has formulated an integrated policy to develop the main airports of Delhi, Mumbai and Bengaluru into international transit centres, said a senior official. Such airports aggregate passenger demand from an entire region and offer multiple direct flights to major cities worldwide. Currently, 85% of India's connecting traffic travels via airports such as Dubai, Abu Dhabi, and Singapore's Changi. Many Indian passengers travelling to North America also tend to connect through European airports such as Frankfurt and London.
Delays to green steel projects are growing and government support is far short of what is needed, jeopardising the industry's drive to cut emissions, steel associations warned at an annual meeting in Singapore this week. About half of the world's planned green steel projects have already been delayed, while governments have committed just $20 billion of the $1.5 trillion needed to decarbonise the sector, according to the World Steel Association. Industry executives said progress on cutting emissions has been slow and is likely to remain so without a major increase in state funding or customers willing to pay more for cleaner steel. The gloomy assessment stands in contrast to renewed investor interest in renewable energy and clean technology following the Iran war, which has driven up oil and gas prices.
On May 26, on the sidelines of the Quad foreign ministers' meeting in New Delhi, India and the United States signed a bilateral framework to secure the supply of critical minerals and rare earths. The same day, the four Quad nations; India, the US, Australia, and Japan, unveiled the Quad Critical Minerals Initiative Framework, pledging to mobilise up to $20 billion in public and private investment for mining, processing, and recycling. "This framework aims to deepen our cooperation across the entire critical minerals and rare earth supply chain, including mining, processing, recycling and related investment," External Affairs Minister S Jaishankar said at the May 26 signing. US Secretary of State Marco Rubio framed the stakes plainly. "We cannot afford to leave the foundational materials of these industries vulnerable to a single-source monopoly that could deny us these things, not just in a time of conflict, but as a leverage point contrary to our sovereign national interests," he said.
The department of telecommunications (DoT) has issued draft rules for administrative assignment of spectrum to state-run entities such as BSNL and MTNL, law enforcement agencies as well as private firms in the satellite and broadcasting segment including very small aperture terminal (VSAT) players and teleport operators. The rules will be applicable when spectrum is assigned administratively or without auctions to entities for specific purposes under Schedule 1 of Telecommunications Act. For satellite spectrum, the draft rules, however, apply only to firms using a geostationary orbit (GSO) satellite such as traditional players offering VSAT, teleport or broadcasting services. The rules won't be applicable to non-GSO players such as Starlink, Eutelsat OneWeb and Amazon Leo. "Spectrum assignment rules for NGSO players are also being worked out by the DoT and a Cabinet approval has to be taken for pricing and other modalities," an official told ET on condition of anonymity.
The over 3-month conflict across West Asia has some far reaching impact. Even as the Strait of Hormuz is opening up gradually with the ship movement increasing, India has significantly diversified its import sources for LPG. A Crisil report highlights that even during the peak of the conflict and supply constraints, India made adequate efforts to diversify its LPG sourcing. India diversifying LPG import sourcing The Crisil report showed that India sharply diversified its liquefied petroleum gas (LPG) sourcing during the West Asia conflict, increasing imports from the US, Iran and several other countries to reduce dependence on the Gulf region, while state-owned fuel retailers absorbed much of the surge in international prices to shield households.
As artificial intelligence attracts trillions of dollars in investment worldwide, valuation expert and NYU Stern School of Business professor Aswath Damodaran is warning that the risks associated with the current AI boom may be far greater than those seen during the dot-com era. Damodaran, known as the “Dean of Valuation,” believes the ongoing AI race differs significantly from the internet boom of the late 1990s, not only in the scale of investment involved but also in the way the sector is being financed. While he stopped short of predicting an imminent crash, he said history tells that periods of intense market enthusiasm are often followed by a correction.
Bharat Heavy Electricals Limited and Coal India Limited are jointly investing over Rs 25,000 crore in a coal gasification project in Odisha. The foundation stone was laid by Prime Minister Narendra Modi in Jharsuguda on Saturday — a landmark move to expand coal utilisation beyond conventional power generation. Union Coal and Mines Minister G Kishan Reddy said the initiative signalled a transformative shift in how India leverages its coal reserves, dubbing it a new chapter for the coal sector of Odisha. “Today, Prime Minister Narendra Modi and President Droupadi Murmu have ushered in a new chapter for Odisha’s coal sector. Moving beyond the traditional use of coal, new avenues will now open up through coal gasification…BHEL and Coal India Limited are jointly investing Rs 25,000 crore in this initiative,” Reddy said.
Demand for cooling appliances, particularly air conditioners (ACs), has slowed sharply in June compared with May as the peak summer buying cycle eases and consumers remain cautious amid higher prices, industry executives told FE. Persistent price increases over recent months have also pushed some entry-level buyers towards lower-cost alternatives such as air coolers and fans. In contrast, fast-moving consumer goods such as beverages and ice cream have seen strong growth in June as consumers continue to seek relief from high temperatures. “Sales growth rates for ACs in June have slowed to around 10-15% versus 30-35% seen in May,” NS Satish, chief executive officer, Haier Appliances India, said. “Input costs remain elevated across several categories, including ACs, requiring calibrated pricing actions. Consumers are increasingly focused on value, particularly in larger appliances,” he said.
Design and engineering software company Autodesk is betting on India’s infrastructure and data centre buildout to drive growth as it shifts to a platform-led delivery model. India’s ambitious infrastructure pipeline, manufacturing push and rising investment in AI-led data centres are creating long-term demand for digital design and construction technologies, Kamolika Gupta Peres, Vice President – India & SAARC, Autodesk said. Autodesk is increasingly positioning itself as a platform provider rather than a standalone software vendor. Through its Forma platform, formerly Construction Cloud, the company aims to connect designers, contractors, suppliers and project owners on a common data environment.
India’s rooftop solar market recorded its strongest-ever quarterly performance in the January-March period, with installations surging 125% year-on-year to 2.7 GW, driven by robust residential demand under the PM Surya Ghar scheme and rapid adoption across large states, including Uttar Pradesh. The addition was 25% higher than the 2.2 GW installed in the previous quarter and more than double the 1.2 GW added in Q1 2025, according to Mercom India Research. While Maharashtra led quarterly installations with a 17% share, Uttar Pradesh accounted for 16% of all rooftop solar capacity additions, emerging as one of the country’s most significant growth markets. Gujarat followed closely with a 15% share. The strong performance highlights how rooftop solar adoption is expanding beyond traditional solar-heavy states. Uttar Pradesh also recorded one of the fastest growth trajectories in the country, registering a 22% compounded quarterly growth rate between Q1 2025 and Q1 2026, second only to Assam’s 40%.
Vulnerable countries that paid a high economic price during the Iran war are seeking to build domestic oil and gas storage buffers against future shocks, a drive that could bring roughly half a billion barrels of additional demand down the pike. While the near-total closure of the Strait of Hormuz cut off a fifth of global oil and liquefied natural gas supplies for over three months – reshuffling energy markets and boosting Brent crude to nearly $120 a barrel – it could have been far worse. One key stabilizing force was the world’s ability to tap emergency reserves. Early in the conflict, all 32 members of the International Energy Agency agreed to a record 400 million-barrel release from strategic petroleum reserves (SPRs), with the U.S. contributing the largest share. The drawdown — the sixth since the energy watchdog's creation — validated a strategy forged after the 1973 Arab Oil Embargo, under which IEA members must hold emergency stocks equal to at least 90 days of net imports.
India, once the world's second-largest sugar exporter, is expected to have little surplus for export for at least three more seasons as El Nino weather conditions threaten cane production and rising ethanol demand squeezes supply. The twin pressures are poised to keep millions of tons of sugar off the world market, tightening supplies for importers across Asia, Africa and the Middle East and supporting benchmark prices in London and New York. A prolonged absence by India from export markets would remove a key balancing supplier as weather risks and biofuel policies reshape global sugar trade flows.
Kuwait has asked its energy customers to pick up refined petroleum directly from its ports as the US and Iran aim for a final agreement within 60 days, adding to signs that cement the opening of the Hormuz Strait. The country is situated deep inside the Persian Gulf and is among the worst-hit economies due to the conflict. According to Bloomberg, the National Oil Company, Kuwait Petroleum Corporation, issued a tender to sell naphtha, a specific kind of refined petroleum to make gasoline and plastics, asking buyers to pass through the Strait with their own vessels. During the conflict, Kuwait Petroleum previously shipped liquefied petroleum gas through the Strait of Hormuz with its own ships.
China added MP Materials and USA Rare Earth as well as eight other U.S. entities it said are linked to the U.S. military to its export control list in retaliation for Washington placing several Chinese companies under restrictions this month. Aveox, a motor manufacturer for mission-critical applications, was also among those placed on the list, which halts Chinese dual-use exports to the companies. Pentagon-backed MP Materials, which operates the only active rare earth mine in the U.S., and USA Rare Earth are both involved in the mine-to-magnet supply chain. The three U.S. companies were not available for comment outside of business hours. The measures are a response to the "U.S. government's malicious practice" and were taken to safeguard national security and interests, as well as to fulfil international obligations such as non-proliferation, China's Commerce Ministry said in a statement on Monday.
The number of ships that passed through the Strait of Hormuz fell sharply on Sunday after Iran announced it had again closed the waterway, citing Israeli and U.S. violations of the interim peace deal, shipping data showed. Five vessels passed the strait on Sunday, from 26 ships spotted a day earlier, data from analytics firm Kpler showed. These included three Very Large Crude Carriers carrying 2 million barrels of Saudi crude and fuel oil each, one of which was heading to Japan. The data may exclude vessels that switch off their transponders while travelling in the Gulf.
In a first, the Insurance Regulatory and Development Authority of India (Irdai) has proposed enhanced disclosure norms for insurance intermediaries earning commissions above a prescribed threshold. Aiming to curb misselling of insurance policies, the regulator has released a consultation paper proposing that insurance intermediaries disclose details of commission income, related-party transactions, profits earned and dividend repatriation. Under the exposure draft, corporate agents, brokers, insurance marketing firms and web aggregators earning more than ₹10 crore in commission income in a financial year will be required to annually disclose to Irdai details of commissions earned, related-party transactions, profits and dividends. These entities will also have to publish the disclosures on their websites.
India's asset-backed securities market has surged to a record as global banks ramp up purchases to gain exposure to one of the world's fastest-growing major economies. Foreign banks' share in total issuance grew to about 35% in the year ended March, from 28% to 30% in each of the preceding two fiscal years, according to Krishnan Sitaraman, chief ratings officer at Crisil Ratings. Based on the total asset-backed debt sales of 1.53 trillion rupees ($16 billion) in the year ended March, that translates into roughly $5.6 billion of purchases by overseas lenders. Barclays Plc, Citigroup Inc., JPMorgan Chase & Co. and Standard Chartered Plc are among foreign lenders to have stepped up investments in such debt, according to people familiar with the matter, who asked not to be identified discussing private information.
Inactivity fees on dormant PhonePe wallets do not affect users' linked bank accounts or UPI transactions, according to clarifications issued by the company after notifications sent to some customers triggered confusion over how digital wallets operate. The notifications apply only to the PhonePe Wallet, a prepaid payment instrument (PPI), and not to payments made through the Unified Payments Interface (UPI), where funds are debited directly from a user's bank account. The issue has highlighted a common misconception among consumers that their PhonePe account, UPI account and PhonePe Wallet are the same product. In reality, they operate independently and are subject to different rules.
Foreign investors' derivatives bets continue to signal caution on Indian equities despite a slowdown in their cash-market selling, as uncertainty around the fragile US-Iran peace deal, a weak rupee and more attractive opportunities in other Asian markets keep sentiment subdued. The Nifty gained 1.65% last week. However, the long-short ratio of foreign portfolio investors' positions in Nifty futures-a measure of bullish bets relative to bearish ones-stood at 12.95% on Friday. While the increase in the ratio from 8.1% two weeks earlier shows some reduction in short positions, the reading remains far too high to conclude that foreigners have turned bullish. IIFL Securities
India's financial services sector has long been a testing ground for technology-led disruption. From the UPI revolution that made India the world's largest real-time payments market to the Jan Dhan-Aadhaar-Mobile stack that brought 500 million people into the formal financial system, the sector has repeatedly demonstrated the capacity for transformative change. The current wave of Al adoption is, by most measures, the most consequential yet.
Indian banks have turned cautious on lending to small businesses as early signs of stress emerge in the micro, small and medium enterprises (MSME) segment, prompting tighter underwriting and a moderation in credit growth, showed a report by 360 ONE Capital citing a CRIF High Mark report. MSME loan growth slowed to 12.7% year-on-year in April 2026 from around 18%-20% seen in previous quarters, as lenders reassessed risk and curtailed fresh disbursals, data from CRIF High Mark showed. The slowdown was sharper in active loans, which advanced just 2.5% year-on-year compared with 6%-9.4% earlier, indicating a more cautious stance by lenders, the CRIF High Mark report showed.
In a move that could reduce delays in insolvency proceedings, the government has stripped the National Company Law Tribunal (NCLT) of its discretionary power to dismiss or defer insolvency applications filed by financial creditors once a default has been established. In the IBC Amendment Act, 2026, the government has replaced the word “may” with “shall” in Section 7(5) of the Insolvency and Bankruptcy Code (IBC), making it mandatory for the NCLT to admit a corporate insolvency resolution process (CIRP) application once the default is established through Information Utility (IU) records.
The IMF expects India to be the world's third-largest economy by FY28. However India's share of world equity market capitalisation fell below 3% in May 2026, the first such reading in four years. That divergence, between the scale of our economy and our presence in global capital markets, is structural. The infrastructure to close it is being built at GIFT IFSC, from both directions. Roughly two-thirds of Indian household savings sit in real estate and gold. Equities are approximately 5% of household wealth. Foreign assets are less than half a percent. Indian and US equity markets don't move in lockstep. Our internal analysis, back-testing equally weighted India-US portfolios from the 2008 market bottom through early 2026, shows an equally split India-US allocation returned 1,080% against 750% for an India-only portfolio over that period. The gap is widest when it matters most: when domestic markets come under stress, uncorrelated exposure is what keeps a long-term portfolio intact.
Reliance Jio is evaluating the development of a sovereign low Earth orbit (LEO) satellite constellation for India as it looks to expand connectivity to remote parts of the country, Reliance Jio Chairman Akash Ambani said at Reliance Industries' 49th annual general meeting on Friday. "Jio is evaluating the development of a sovereign low Earth orbit satellite constellation for India," Ambani said, outlining the company's plans to extend broadband access beyond the reach of terrestrial telecom networks. The announcement comes a day after ET reported that Reliance Jio was planning a constellation of around 1,600-1,650 LEO satellites to offer broadband and direct-to-device services, potentially becoming the first Indian company to build a large-scale satellite network in the segment.
The media and entertainment business of Reliance Industries posted a revenue of Rs 34,917 crore in FY26, with JioHotstar emerging as the country's largest digital streaming platform, and becoming the first Indian paid OTT service to cross one billion downloads, said Akash Ambani on Friday. Addressing shareholders of Reliance Industries Ltd (RIL), Ambani said the group's media ecosystem comprising JioStar, Jio Studios and Network18 delivered an EBITDA of Rs 5,842 crore and a net profit of Rs 3,434 crore during the fiscal year.
Ambuja Cements, the Adani Group-owned cement maker, has partnered with UK-based clean technology company Leilac Limited to develop a commercial-scale low-carbon cement production pathway at its Sanghipuram plant in Gujarat's Kutch district, marking a significant step in the company's decarbonisation plans. The companies said they will jointly undertake a commercial demonstration project at Ambuja's 6.6 million tonnes per annum (MTPA) Sanghi cement plant to evaluate Leilac's carbon capture and hybrid electric heating technology. The technology is designed to reduce emissions, lower fuel consumption and increase the use of renewable electricity in cement manufacturing.
Tata Motors on Sunday said it has secured orders for more than 3,400 electric commercial vehicles (eCVs) across multiple segments, signalling a sharp acceleration in the adoption of zero-emission mobility solutions by businesses and public transport operators in India. The country's largest commercial vehicle maker said the orders span a broad spectrum of applications, ranging from e-commerce and logistics to heavy industries such as cement, steel and mining, reflecting growing confidence among fleet operators in the viability of electric mobility beyond pilot projects
Around 10-12 of the 16 fertiliser cargo vessels stranded near the Strait of Hormuz crossed the waterway before Iran claimed to have shut it again on Saturday following Israeli attacks on southern Lebanon, traders said, raising hopes of a decline in prices with the increased supply. Global urea prices have already begun to soften. At the onset of the Iran war, eight urea, four diammonium phosphate (DAP), one ammonia and three sulphur vessels bound for India were stranded in the strait. "Some vessels carrying urea, ammonia and DAP have crossed the strait," said an importer of fertilisers, who did not wish to be identified.
Normalcy returned to India’s crude oil imports in June, boosted by record Russian shipments, recovering from a few months of disruptions that saw an unlikely mix of suppliers spanning Angola, Brazil, Iran and Venezuela moving to cushion the impact of logistical bottlenecks due to closure of the Strait of Hormuz. India imported slightly more than 5 million barrels per day (mbd) so far this month, above the average of 4.9 mbd between April 2025 and February 2026, according to energy cargo tracker Kpler. Oil ministry data, which differs marginally from Kpler estimates, pegged the average at 5 mbd. The start of the Iran war on February 28 saw India’s oil imports falling 14% to 4.5 mbd in March from 5.2 mbd in February, according to Kpler.
India is facing one of its most difficult monsoon seasons in more than a decade. A brutal heatwave has already strained farms, power grids and patience nationwide. Now the India Meteorological Department (IMD) has confirmed what markets had been dreading: an El Niño is taking shape over the Pacific. Rainfall is expected to stay below normal through the June-September season. The numbers are stark as IMD has pegged seasonal rainfall at 90% of the Long Period Average. The period between June 1 and June 16 has already run 35% short of normal.
India’s merchandise exports rose by about 15% during April-June 14 this year, Commerce and Industry Minister Piyush Goyal said on Sunday, signalling that outbound shipments have so far held up despite a difficult global trade environment. The full trade numbers for June will be released by the Commerce Ministry on July 15. “Even now, if we see April, May and 14 days of June. I have data until June 14, it is 15%,” Goyal said during an interaction with chartered accountants in Mumbai.
Spot electricity prices on power exchanges fell below ₹1 per unit during solar hours on nearly 25% of the days in FY26, with prices touching near-zero levels across multiple time blocks, triggering a sharp shift in industrial power procurement and pushing participation by open-access consumers up by more than 50% year-on-year. The trend is reshaping power sourcing strategies across India’s manufacturing sector, where electricity accounts for as much as 50% of operating costs in energy-intensive industries such as cement, metals, automobiles, chemicals and paper.
India’s oil imports from Russia are on track to hit a new record in June, as refiners continue to rely heavily on discounted Russian crude after supply disruptions in West Asia caused by the regional conflict. According to preliminary vessel-tracking data from commodity analytics firm Kpler, India imported an average of 2.6 million barrels of Russian oil per day in June so far. That accounts for 53.5% of the country’s total crude imports during the period.
Prospects of delayed kharif crop sowing and adverse impact on crop yield are looming large, as the southwest monsoon lost momentum after its onset earlier this month. Farmers in the rainfed regions of central India—especially Maharashtra (-82%), Jharkhand (-69%), Chhattisgarh (-67%), Madhya Pradesh (-48%) and Odisha (-47%)—are anxious because rainfall so far has been scanty or much below the benchmark long period average (LPA). If the monsoon does not revive and the deficiency is not bridged over the next few weeks, it would lead to considerable delays in sowing kharif crops such as pulses, oilseeds, paddy and cotton.
China's domestic economy continues to face significant headwinds despite robust export growth, with consumer spending, property activity and credit demand remaining weak, according to a recent market strategy report by Jefferies. The report said there is "a continuing lack of any evidence of a pickup in domestic demand", underscoring persistent challenges in the world's second-largest economy even as its manufacturing and export sectors remain resilient.
China left benchmark lending rates unchanged for the 13th consecutive month in June on Monday, in line with market expectations. WHY IT'S IMPORTANT The steady loan prime rates (LPRs) signal authorities are in no rush to ease policy, even as broader economic divergence persists and policymakers show little concern about slowing credit growth.
Simon Boyd's firm makes prefabricated steel structures on the south coast of England and ships them to customers as far away as Ghana and Barbados. Mike Hawes represents Britain's carmakers as the head of the Society of Motor Manufacturers and Traders.
India has initiated an anti-dumping probe against imports of a chemical, used in tyre and rubber products, from China and Japan, a commerce ministry notification said. The investigation followed a complaint in this regard by Atul Ltd to the Directorate General of Trade Remedies (DGTR). The applicant has alleged that the cheap imports of 'Resorcinol' is significantly harming the domestic industry. "On the basis of the duly substantiated application filed by the applicant and having satisfied itself, on the basis of the prima facie evidence submitted by the applicant, regarding dumping of the subject goods...the authority hereby initiates an anti-dumping investigation," the DGTR's notification said.
Mukesh Ambani on Friday laid out an ambitious roadmap to reinvent Reliance Industries' traditional oil-to-chemicals (O2C) business, saying the conglomerate plans to move beyond conventional refining and convert crude oil into high-value products such as carbon fibre, specialty materials and green chemicals to reduce its exposure to geopolitical and commodity price shocks. Speaking at Reliance's 49th annual general meeting, Ambani described the O2C business as the group's long-standing growth engine but said its next phase would look very different.
Passenger vehicle sales are likely to grow 4-6 per cent this fiscal, driven by sustained demand momentum, improving affordability following GST rate cuts, and traction in utility vehicles, a report said. Passenger vehicle wholesale volumes recorded a strong 27 per cent year-on-year growth in the last fiscal, reaching 4.4 lakh units, while retail sales grew 33 per cent on the back of robust consumer demand, newly launched models, and an extended summer wedding season, according to the report by ratings agency Icra. However, the agency said that rising fuel and commodity prices, along with concerns around a weak monsoon, remain key factors to watch.
India's beauty and personal care (BPC) products market is projected to reach USD 39 billion by 2030, driven by a fundamental shift in consumer behaviour, according to a report by e-commerce major Flipkart. Once an aspirational segment, beauty is increasingly being viewed as a daily essential for self-care and identity rather than an occasional indulgence, the report said. According to the 'Flipkart GlamUp Annual Beauty Trends Report 2026', the Indian beauty market, currently valued at approximately USD 27 billion, is identified by industry experts as one of the most attractive growth markets globally.
Reliance Industries‘ battery giga factory in Jamnagar and its renewable energy hub in Kutch will set new global benchmarks in clean energy deployment, Chairman Mukesh Ambani said outlining the scale of the Group’s green energy ambitions. The projects form the centrepiece of Reliance’s new energy strategy and are expected to begin contributing meaningfully to the company’s financial performance from FY27 onwards, Ambani said. At the 5,000-acre Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, Reliance is building battery energy storage systems (BESS), cell manufacturing facilities, solar photovoltaic modules and electrolyser production units. Ambani said the company is targeting peak installation rates of 55 MWp of solar modules and 150 MWh of battery containers a day.
As India’s ambitions expand and problems grow more complex the institutions capable of long-term thinking and policy translation are essential. The Director of Adani Enterprises and Gautam Adani‘s nephew, Pranav Adani called for stronger investment in India’s ‘intellectual infrastructure’ and argued that physical infrastructure alone—roads, ports, airports and digital networks—will not be enough to navigate the complex issues that India faces today. Adani urged India to invest in intellectual infrastructure, saying the country’s growing ambitions and mounting challenges require institutions that can think beyond immediate headlines and connect ideas to policy and added that the intellectual capacity be built alongside physical projects to navigate the nation’s evolving challenges.
Mukesh Ambani on Friday unveiled an expansive artificial intelligence strategy that spans compute infrastructure, AI applications and satellite connectivity, signalling its ambition to become a key provider of the country’s AI and digital infrastructure. At the centre of the strategy is a massive AI data centre and compute facility being built in Jamnagar under Reliance Intelligence, the group’s AI venture announced last year. Ambani said the project is aimed at addressing what he described as India’s biggest AI bottleneck today: the scarcity and high cost of compute capacity required to train, deploy and run AI applications.
After months of disruption, oil exports from Iran finally picked up after Tehran and Washington reached a peace deal. According to shipping data cited by Bloomberg a wave of 11 tankers carrying 20 million barrels of crude left the Gulf of Oman port. The vessels had previously been unable to sail into the Indian Ocean due to a US military blockade aimed at limiting Iran's access to oil revenues. Most of the country's oil exports are shipped to China.
China is stepping up scrutiny over exports of indium, leading some buyers to fear the niche metal, sought after for next-generation data centers, may be added to the export control regime that has become one of Beijing's most potent trade weapons. China produces nearly 70% of the world's indium, a byproduct of zinc refining mostly used in displays and solder but also the raw material for making indium phosphide, used to make high-speed optical chips for AI data centers.
Investors poured the most capital in roughly 19 months into global equity funds in the week to June 17, buoyed by optimism over an interim deal to end the U.S.-Iran war and expectations that reopening the Strait of Hormuz could help ease inflationary pressures. They bought a net $55.22 billion of global equity funds during the week in their largest weekly purchase since November 13, 2024, data from LSEG Lipper showed. The U.S. and Iran signed an agreement on Wednesday that extends a ceasefire announced in April by another 60 days to allow the two sides to negotiate a truce.
India's benchmark 10-year bond yield snapped a six-session decline on Friday, as a halt in U.S.-Iran peace talks slowed oil's retreat and curbed risk appetite, while some investors locked in gains after a recent rally in prices. Brent crude inched higher in Asian trade, briefly rising past $80 a barrel, after a Swiss foreign ministry statement said U.S. talks with Iranian negotiators were scrapped, as Vice President JD Vance dropped plans to travel there, fuelling uncertainty over a lasting truce.
India’s foreign exchange reserves fell by $9.99 billion to $671.63 billion in the week ended June 12, 2026, according to data released by the Reserve Bank of India (RBI) on Friday. Foreign currency assets (FCAs), the largest component of the reserves, rose by $846 million to $544.29 billion during the week. However, the increase in FCAs was more than offset by a sharp decline in gold reserves, which fell by $10.75 billion to $103.82 billion.
Recordent, a credit risk and collections platform, has rolled out a credit registry for Section 8 Microfinance Institutions (MFIs) to improve credit visibility and strengthen risk assessment. The MFI Credit Registry will enable participating institutions to share and access borrower loan data through a common platform, helping lenders improve underwriting, monitor borrower indebtedness and make more informed credit decisions. The initiative comes amid efforts to strengthen credit information sharing and risk assessment across the microfinance ecosystem.
The much-awaited Jio IPO DRHP has been filed. It’s expected to be the biggest IPO ever, and the company has said it will issue up to 27 crore fresh equity shares. The Mukesh Ambani-led telecom major aims to raise proceeds towards the re-payment of its outstanding debt and deploy capital towards general corporate purposes. Here are the top five highlights from Jio Platform’s DRHP. #1 Jio Platform IPO: Issue Size and BRLM The Mukesh Ambani-led Jio Platforms IPO is entirely a fresh issue, as the company will issue up to 27 crore shares, each having a face value of Rs 10.
Punjab National Bank has increased the interest rate on FCNR(B) deposits of $1 million and above to 6.60% for tenures of three to five years. For deposits of less than $1 million, the public sector bank is now offering 6.50% per annum. Earlier the bank was offering rates in the range of 6-6.10%.
The Reserve Bank of India (RBI) has asked banks to report data on FCNR (B) deposits, external commercial borrowings and overseas foreign currency borrowings daily, it said in a notification on Friday. On June 8, the RBI launched the swap facility for FCNR (B) deposits and ECBs. It would absorb the full hedging cost on incremental FCNR(B) deposits and partial hedging cost for ECBs, as part of a broader package of measures aimed at attracting foreign currency inflows and supporting the rupee.
Markets regulator Sebi on Friday said that its board has approved a proposal to reintroduce open-market buybacks. The new mechanism will come into effect from August 1, Sebi chief Tuhin Kanta Pandey said at a press conference. Currently, companies are permitted to repurchase shares through tender offers, where shareholders participate proportionately, or via odd-lot buybacks and other structured routes. The open market mechanism through stock exchanges, however, was earlier phased out due to concerns around inefficiencies and lack of equitable participation.
The Securities and Exchange Board of India (Sebi) will discuss with market players about longer-tenure derivatives contract. Though there are no regulatory restrictions on introducing longer-term contracts, the regulator said it needs to understand what are the challenges that holds back market players on this front. Currently, derivatives contracts available in India expire on weekly and monthly basis. “We need to discuss with market participants about what is holding them back (to introduce long-term derivatives),” Chairman Tuhin Kanta Pandey said in a press conference on Friday. The regulator will look to resolve the barriers after getting a better understanding about them, he added.
Punjab finance, planning, and excise & taxation minister Harpal Singh Cheema on Friday said the state govt has intensified its recovery drive against tax defaulters by initiating public auctions of properties belonging to "chronic VAT and GST evaders." "In a decisive move to recover long-pending dues, the excise and taxation department has carried out three major property auctions, recovering significant amounts from businesses and individuals who failed to clear liabilities despite repeated notices," the minister said.
Tax season is underway, and as Al adoption gathers pace, several professionals are taking to LinkedIn to share how Al tools have helped them file their income tax returns. One widely discussed post came from a data security analyst who claimed Anthropic's Claude read his Form 16, cross-checked details with the AIS, navigated the Income Tax portal, resolved filing errors and submitted the return with minimal human intervention. He described the experience as feeling like "a CA was sitting next to me", sparking debate over Al's role in tax filing.
For generations, Indian investors have viewed rental income as the most trusted route to passive income. Buy a property, lease it out, and collect a monthly cheque. But with property prices rising, rental yields staying modest, and tenant management becoming a real effort, investors are asking a more practical question: can bonds create similar monthly cash flow with lower capital? The answer lies in the math.
Reliance Industries’ leadership made several major announcements at the company’s 49th Annual General Meeting on Friday. Jio Platforms filing a draft red herring prospectus (DRHP) for its initial public offering (IPO) was the biggest announcement of the day. Other important announcements made by Reliance Industries’ top executives include the launch of a new manufacturing division for Reliance Retail, doubling down on artificial intelligence and planning for satellite internet services.
Reliance Industries Ltd (RIL) is accelerating its transformation into a global manufacturing and export powerhouse, with plans to scale its consumer goods, retail, electronics and renewable energy businesses into large international platforms. Speaking at the company’s 49th Annual General Meeting (AGM) on Friday, Chairman Mukesh Ambani outlined an ambitious strategy to enable $125-150 billion in exports by 2032, building on Reliance’s position as India’s largest merchandise exporter. For perspective, Reliance recorded exports of Rs 2.79 lakh crore ($29.4 billion) in FY26, accounting for 6.7% of India’s total merchandise exports.
Reliance Consumer Products (RCPL) has set an ambitious target of achieving Rs 1 lakh crore in revenue by FY30, positioning itself among the fastest-growing FMCG companies in the country, Isha Ambani, executive director at Reliance Retail Ventures and non-executive director at Reliance Industries (RIL), said at the company’s 49th annual general meeting (AGM) on Friday. The target comes as RCPL more than doubled its business over the last year, reporting gross revenue of Rs 22,000 crore in FY26.
The Reserve Bank of India's Monetary Policy Committee (MPC) unanimously kept the repo rate unchanged at 5.25% with a neutral stance at its June 2026 meeting, with external member Saugata Bhattacharya flagging mounting inflationary risks and calling for a risk management approach to monetary policy, according to minutes released by RBI on Thursday. In his statement, Bhattacharya said the balance of risks has "tilted towards embedding inflationary pressures" since the April 2026 review, even as the overall risk picture has not changed materially.
India and Uzbekistan have agreed to deepen trade, address non-tariff barriers and work towards doubling bilateral trade in next three years, the government said Friday, adding that pharmaceuticals, medical devices, auto and machinery are some sectors where New Delhi can increase its exports. The issues were taken up at the 14th Session of the India-Uzbekistan Intergovernmental Commission on Trade, Economic, Scientific and Technological Cooperation. India-Uzbekistan goods trade was $672.5 million in FY26.
As a weakening rupee drives up the cost of imports from China, some Indian businesses, as reported earlier by The Economic Times, are exploring yuan-denominated settlements to mitigate foreign exchange pressures. However, exporters, risk experts, and economists tell ET Digital that adoption of the practice remains limited among micro, small and medium enterprises (MSMEs). Most businesses see localisation and supply-chain diversification as more sustainable strategies for managing currency volatility than moving away from the US dollar. Notably, the development comes as Indian manufacturers grapple with rising costs of imported raw materials and components amid currency volatility.
India-Russia joint venture urea manufacturing project is on track, Russia’s Ambassador to India Denis Alipov said on Friday. Moscow is committed to ensuring uninterrupted supplies of various soil nutrients to the India, he added. The project, which will be located in Togliatti, Samara, Russia, involves urea manufacturing capacity of 2 million tonnes per annum. The entire quantity of the fertiliser produced will be supplied to India.
All six members of the RBI Monetary Policy Committee voted unanimously to keep the repo rate unchanged at 5.25% at its June 3-5 meeting, favouring to adopt a “wait and watch” approach rather than making a pre-emptive policy pivot amid global uncertainties and elevated crude oil prices. According to minutes of the committee’s meeting released on Friday, the panel said that they would await incoming data and closely monitor the developments before taking any rate hike decision. The meeting took place before the US-Iran agreement to end the war in West Asia.
India’s textile and apparel exporters expect the India-UK Comprehensive Economic and Trade Agreement (CETA) to create fresh growth opportunities, with industry players projecting double-digit growth in export volumes and India’s share of the UK textile market rising threefold to 10-15% over time. The clarity on the implementation of the trade pact comes at a time when stability is expected to return to West Asia, a key destination and transit route for Indian textile exports, strengthening the industry’s export outlook.
British government borrowing jumped much more sharply than expected in May as higher inflation pushed up the cost of servicing index-linked debt, in unwelcome news for the public finances.
A U.S. Iran deal is in place for now but the next few weeks will test whether a more permanent agreement can be reached. Key U.S. and Australian economic data are due, Colombians head to the polls, and London hosts a major climate gathering.
Europe's banking sector could boost lending by more than €2 trillion ($2.2 trillion) if regulators were to simplify rules while maintaining financial resilience, the head of Spanish banking association AEB, Alejandra Kindelan, said on Friday.
The euro zone economy is in the midst of a mid-sized inflation shock, with inflation holding above 3% for the rest of the year, a situation that requires a "measured" policy response, European Central Bank Chief Economist Philip Lane said on Friday.
The Russian central bank cut its benchmark interest rate by 25 basis points to 14.25% on Friday, a smaller move than the 50 bps that analysts had expected, citing risks stemming from soft budget policy and a decline in fuel production.
Japan plans to set a target of about $2.3 trillion in combined public and private investment by 2040 across 17 strategic sectors as part of Prime Minister Sanae Takaichi's new growth strategy, the Nikkei reported on Friday.
Indian government bonds edged slightly lower in early trade on Thursday after the U.S. Federal Reserve struck a more hawkish tone than expected, with most policymakers now projecting the start of a rate-hiking cycle before year-end. The yield on the benchmark 6.94% 2036 bond rose to 6.8639% by 10:20 a.m. IST from its previous close of 6.8626%. Yields move inversely to prices. "Bulls will take a backseat for now, as the current levels are bound to react more to negatives, with all positives priced in," trader with a primary dealership said.
Surging Chinese trade with Africa and lifting of tariffs for most countries on the continent look set to boost yuan use, aiding Beijing's bid to build alternatives to Western finance. China-Africa trade rose by nearly 18% last year, customs data show, with tariff cuts on imports from 53 countries in May expected to increase flows and yuan-denominated settlements. International Monetary Fund research has found that yuan usage rises with trade exposure to China, which announced new measures on Wednesday to promote the global use of its currency. From Nigerian cattle bone pellets to Kenyan avocado oil and South African apples, Chinese ports are receiving more African cargo after the tariff elimination, boosting demand for settlement from yuan into local African currencies.
Meta Platforms has secured new agreements to get AI computing power from data center developer Crusoe, Bloomberg News reported on Thursday, as it strengthens infrastructure required to support its AI expansion. Meta and Crusoe did not immediately respond to Reuters' requests for comment on the report, which cited people familiar with the situation. Reuters could not independently verify the report. Here are some details: • Meta is under contract to buy computing capacity from Crusoe at two data centers, which are located in Childress, Texas, and Warrenton, Missouri, according to the report.
A blazing rally in India’s short-end bonds, driven by plans to attract foreign capital, may fizzle out because the central bank is expected to drain excess cash from the financial system, according to analysts.BofA Securities and Bandhan AMC Ltd. expect the Reserve Bank of India to step up short-term cash withdrawal operations in coming months as surplus banking liquidity is seen climbing to pandemic-era levels of about 8 trillion rupees ($85 billion). DBS Bank Ltd. expects the central bank to deploy a stronger tool in August by requiring banks to keep a larger proportion of deposits with the RBI.
Say it quietly, but Gulf airlines are back in business. The Middle East is home to some of the world's biggest carriers, whose networks have been upended by the Iran conflict, with Iranian missile and drone attacks at times shutting airports in recent months and redrawing traffic routes across the Gulf. Flightradar24.com data shows that the overall number of flights by major Gulf airlines has now returned to some 82% of the level on February 27, the day before the war started. Gulf Air and Kuwait Airways have topped 100% of that level in recent days. Emirates, Qatar Airways and Etihad - the biggest three - are above or near 90% of their pre-war level. Etihad and Qatar Airways were as low as 40-50% just a month ago. Emirates, which has spent big to keep flights going, has been higher for longer.
The Reserve Bank has cancelled the licence of Karnataka-based Shree Mahalaxmi Urban Co-operative Credit Bank due to its worsening financial position. The Registrar of Co-operative Societies, Karnataka has also been requested to issue an order for winding up the bank and appoint a liquidator, the Reserve Bank of India (RBI) said in a statement on Thursday. On liquidation, about 97.9 per cent of depositors would receive full amount of their deposits from Deposit Insurance and Credit Guarantee Corporation (DICGC). Giving reasons for cancellation of the licence, the RBI said the lender does not have adequate capital and earning prospects and does not comply with certain provisions of the Banking Regulation Act, 1949.
Commercial banks have sought approval from the banking regulator to allow existing non-resident Indian customers to prematurely withdraw and rebook deposits to take advantage of the time-bound FCNR deposit scheme, which in some cases offers almost double the returns of regular term deposits. Some large depositors are instructing their banks to prematurely close term deposits and redeploying the funds in other banks, bankers said. Banks are offering between 6% and 7.1% for three- to five-year deposits under the special scheme, compared with 3.35% to 4% previously.
Intense competition for FCNR (B) deposits has left some lenders apprehensive they could lose overseas customers as their offerings may not be as attractive as those of others. With the Reserve Bank of India (RBI) having lifted the cap on these deposits, a clutch of banks has raised their interest rates making their offers more attractive. In fact, a couple of banks, that had announced new interest rates on FCNR (B) deposits, are understood to be reconsidering their products after the removal of the cap.“We were early to announce rates but will revisit them in the light of the new rules,” said a senior banker.
India's thermal coal imports fell to a 4-year low in January-May due to higher local output and rising renewable energy generation, commodities consultancy BigMint said. Overall, thermal coal imports, at 65 million tons in the year till May, declined by an annual 12%, the consultancy said. India, the world's second-largest importer of thermal coal, has been seeking to reduce its reliance on imports and aims to cut the use of such coal for power generation by at least 30% this year.
The early Chinese backers of AI startup Manus are planning to buy the company back from Meta at the $2 billion price that the Facebook parent paid, The Information reported on Thursday, citing two people with direct knowledge of the matter. The reported move comes months after China ordered Meta to unwind its acquisition of Manus, amid Beijing's tightening scrutiny of U.S. investment in Chinese startups developing advanced AI technologies. Early investors in Manus, including HSG, ZhenFund and Tencent are participating in the buyback, The Information said, adding that HSG and ZhenFund are considering using fresh capital to acquire Meta's position in the startup.
French beauty major L’Oréal on Thursday said it had signed an agreement to acquire a majority stake in personal care startup Innovist, best-known for brands such as Bare Anatomy, Vinci Botanicals, Sunscoop and Chemist at Play, strengthening its presence in India’s fast-growing beauty and personal care market. According to sources familiar with the matter, the transaction is valued at around Rs 4,000 crore, making it one of the largest acquisitions involving an Indian startup and the biggest deal in India’s beauty and personal care startup space, crossing Hindustan Unilever‘s purchase of Minimalist for nearly Rs 3,000 crore in early-2025. While HUL’s acquisition pertained to one brand only, Innovist has a portfolio of brands as part of the deal, experts said.
The government should consider a host of measures, such as removing the import levy on unwrought aluminium, correcting the inverted duty structure, and imposing a 20 per cent export duty on the metal to boost domestic aluminium-based manufacturing, think tank GTRI said on Thursday. It said that India's tariff policies have created some major distortions in the aluminium value chain - encouraging metal exports, inflating raw material costs for manufacturers, and increasing dependence on imported finished products. Aluminium is one of the foundations of modern industrial economies. It is essential for power transmission, renewable energy, electric vehicles, railways, construction, packaging, aerospace, defence, and a wide range of consumer and engineering products.
Indian defence manufacturer SMPP has signed a teaming agreement with European defence major KNDS to manufacture advanced loitering munitions in India, as the country looks to strengthen indigenous defence production and meet the armed forces' growing requirement for precision strike systems. The agreement, signed at the Eurosatory defence exhibition in Paris on Wednesday, will see SMPP, through its subsidiary SMPP Ammunition, manufacture the systems in India under the government's Make in India and Atmanirbhar Bharat initiatives. The partnership will initially focus on offering the loitering munitions to the Indian Army, which has an urgent requirement for such systems amid the military's push to induct advanced battlefield capabilities.
India could need 817 gigawatts of solar power capacity by 2035, more than five times what it has today, driven in large part by two sources of demand that were barely on the radar when the country first set its renewable energy targets: artificial intelligence data centres and green hydrogen production. According to a Nuvama Institutional Equities’ report, the market has significantly underestimated where solar demand is headed. The demand from data centres and green hydrogen plants alone, they estimate, could add 251 gigawatts of solar capacity over the next decade, which, to give you more context, is more than India’s entire installed solar base today. The brokerage further noted that solar power demand is growing at 22% annually through FY35, with solar’s share of total electricity generation rising from 9% now to 33% by the end of the decade. Despite that growth outlook, solar photovoltaic cell (PV) companies currently trade at just 14 times FY28 estimated earnings.
The India-UK Comprehensive Economic and Trade Agreement (CETA), which comes into force on July 15, is set to create a significant export opportunity for Indian automakers by opening duty-free access for up to 88,000 electric, hybrid and hydrogen-powered passenger vehicles in the UK market. According to the agreement, India will gain preferential access to the UK’s green vehicle segment from the sixth year of implementation. The quota for made-in-India electric, hybrid and hydrogen-powered passenger vehicles will start at 17,600 units and gradually rise to 88,000 units annually by the 15th year, benefiting manufacturers such as Tata Motors, Mahindra & Mahindra and Maruti Suzuki. At the same time, India has agreed to allow imports of 3,78,000 conventional internal combustion engine (ICE) passenger vehicles from the UK at concessional customs duty over the first 15 years of the agreement.
The Income Tax (I-T) Department has enabled online filing and Excel utility for Income Tax Return-3 (ITR-3) form for the Assessment Year 2026–27 (AY 2026-27) Financial Year 2025-26 (FY 2025-26) on its official e-filing portal. The ITR-3 form is meant for individuals and Hindu Undivided Families (HUFs) with business or professional income. Taxpayers who are not eligible to use simpler forms such as ITR-1, ITR-2 or ITR-4 are required to file ITR-3. Who can use ITR 3? If an individual or a Hindu Undivided Family has income under the heading ‘profits or gains of business or profession’ and is not qualified to submit Form ITR-1 (Sahaj), ITR-2, or ITR-4 (Sugam), they must use the ITR-3 form.
India’s new domestic-content mandate for solar cells is set to sharply reduce reliance on imports, with indigenous manufacturers expected to meet around half of the country’s 60-65 GW solar cell demand this fiscal, compared with just one-fourth last fiscal. However, the rapid capacity build-up triggered by the policy could pressure utilisation levels and extend payback periods for new investments, according to Crisil Ratings. The assessment comes as the government’s Approved List of Cell Manufacturers (ALCM) framework becomes effective from June 2026, requiring the use of domestically approved solar cells in utility-scale, net-metering and open-access projects. The move is aimed at reducing dependence on imported solar cells and strengthening domestic manufacturing. “The ALCM will sharply reset India’s solar cell supply mix. Domestic supply will gain share and meet around half of the 60-65 GW demand this fiscal, with imports making up for the rest,” said Manish Gupta, Deputy Chief Ratings Officer, Crisil Ratings. “The shift will be led by demand for indigenous cells from newer utility-scale bids, net-metering and open-access projects, and government-backed schemes such as KUSUM.”
India’s gems and jewellery exports fell 2.49% in May to $2,047.89 million, with plain gold jewellery shipments down nearly 15% as record-high gold prices and a shortage of gold for factories hurt export production. Despite this, a Nuvama report added that the same price rise helped jewellery shops at home report some of their best sales in years. Exports slip as gold supply tightens India’s total gems and jewellery exports fell 2.49% in May to $2,047.89 million, from $2,100.21 million in the same month last year, according to the Gem and Jewellery Export Promotion Council (GJEPC). The biggest drag was plain gold jewellery, where exports dropped 14.75% to $758.44 million. GJEPC chairman Kirit Bhansali said three things were behind the fall: gold prices were too high, there was not enough gold available for factories to make jewellery for export, and banks were facing regulatory hurdles in supplying gold to manufacturers.
Reliance Industries Limited spent Rs 1,44,271 crore ($15.2 billion) on capex in FY26. RIL's consolidated revenues stood at Rs 11,75,919 crore ($124.0 billion), up 9.8% year-on-year, for this period. Announcing the numbers at the company's 49th Annual General Meeting, RIL Chairman and MD Mukesh Ambani told shareholders that "Reliance posted a record high revenue, a record high EBITDA and a record high net profit in FY 26 despite global challenges." RIL's EBITDA rose to Rs 2,07,911 crore ($21.9 billion) in FY26, meeting a company commitment to double EBITDA every five years. In FY21, RIL had recorded EBITDA of Rs 97,580 crores. The company's net profit for FY26 stood at Rs 95,754 crore ($10.1 billion), up 17.8% over last year.
India has managed to secure a virtual exemption from the UK’s controversial steel safeguard tariff measures, paving the way for the implementation of the Comprehensive Economic and Trade agreement (CETA) between the two countries starting July 15. The measures, set to come into force from July 1, were expected to impact 15% of India’s commodity exports to the UK while 85% were exempt. Sources said that through a combination of measures covering country-specific quotas and “other instruments,” almost all Indian products will get duty-free access to the UK, once the CETA is in force, sources said. India exported steel goods worth nearly $ 840 million to the UK in FY26. In all 188 items that accounted for $ 137 million worth of steel exports from India to UK (in FY26) were covered by safeguard measures but now these products too will get duty-free market access, sources said.
Reliance Industries Chairman and Managing Director Mukesh Dhirubhai Ambani used the company's AGM 2026 to make a strong case for greater self-reliance in energy and technology, outline Reliance's artificial intelligence ambitions, confirm a key milestone in Jio's journey towards a public listing and congratulate Prime Minister Narendra Modi on becoming India's longest-serving elected prime minister. Ambani described PM Modi's tenure as a "stupendous feat" and also congratulated him on completing 25 uninterrupted years in public office on October 7, 2026. Calling for a renewed push towards Atmanirbharta amid rising global uncertainty, Ambani said the most important lesson for India from recent geopolitical conflicts is the need to accelerate efforts towards self-reliance. He urged the country to pursue energy and Al self-sufficiency as national missions, while positioning Reliance Intelligence as the group's next growth engine.
Nykaa, which is operated by FSN E-Commerce, announced that it is targeting a growth of more than $5 billion by FY30. The growth is expected to scale up its beauty and retail business, enabling sustained margin expansions and a Return of Capital employed of over 40%. Nykaa, in its filing, said that by financial year 2030 the company aims to nearly double or triple its revenue growth, which would translate into 4-5X EBITDA growth (low to mid-teens) EBITDA margins. The company also outlined its AI roadmap. Following the announcement, the company’s stock hit a fresh 52-week high of Rs 303.75 on stock exchanges in Thursday’s trade.
Brent crude steadied on Friday but remained set for a more than 8% weekly decline as traders weighed fading U.S.-Iran truce prospects after talks were called off and Israel escalated attacks in Lebanon. Brent crude futures were little changed at $79.78 a barrel by 0820 GMT. The front-month July contract for U.S. West Texas Intermediate crude, which expires on Monday, rose nearly $1 or 1.3% to $77.59 a barrel. The more actively traded WTI August contract was up 13 cents at $75.98 a barrel. Switzerland said U.S. talks with Iranian negotiators on a pact to end the Middle East conflict would not take place on Friday, as Vice President JD Vance dropped his travel plans, adding to uncertainty over the prospects for a lasting truce.
Corporate India is expected to witness moderation in its revenue growth to mid-to-high single digit in Q1FY27 against a 13.2% YoY growth in Q4FY26) and a contraction in its operating profit margin by 100-150 bps on a YoY basis., rating firm ICRA said on Thursday. As a result of the earnings pressure, credit metrics are expected to soften, with an estimated interest coverage ratio of 4.8-5.0 times in Q1 FY27, against 5.8 times recorded in Q4 FY26, despite stable cost of funds and leverage, it said The ongoing geopolitical tension in West Asia is likely to act as a key overhang, given its significant implications on global trade flows, logistics costs and demand sentiments in key export markets. Further, the conflict results in a second-order impact on travel and tourism-linked businesses like aviation and hotels targeting foreign tourists, LPG-dependent industries like ceramic tiles, quick service restaurants, among others.
The biggest question in the global copper market right now is whether US President Donald Trump will move ahead with tariffs on refined copper. The decision, expected within weeks, could shape the next phase of trade flows, inventories and prices. As the market awaits a Commerce Secretary review due at the end of June that will inform Trump’s decision, traders are watching for signals on whether to unwind their copper positions or double down on bets that US prices will continue marching higher. “Everyone is waiting before we can step in to do relevant trades,” said Nicole Ni, vice general manager at Eagle Metal International Pte, a trading firm that sells copper to fabricators. “This policy has a significant impact on copper prices.”
India’s state-run refiners have already secured enough crude for the next two months and are in no rush to resume purchases from the Middle East even if the Strait of Hormuz reopens to commercial traffic. Local processors have been asked by Middle Eastern suppliers, including Abu Dhabi National Oil Co., to begin taking contractual volumes under long-term supply agreements, according to people familiar with the matter, who didn’t wish to be identified as the information isn’t public. The refiners, however, have yet to commit, they said. The global oil market is zeroed in on the waterway after the US and Iran agreed to an interim peace deal this week that should allow transits to resume. During the conflict, energy shipments initially came to a near-total halt — with the strait subject to a double blockade by both Tehran and Washington — but they are now starting to recover as ships trickle through.
India has the potential to increase exports to USD 200 billion to BRICS countries by 2030 from USD 96 billion in the last fiscal year, industry chamber Assocham said on Thursday. BRICS is an intergovernmental organisation comprising 11 major emerging economies: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia, UAE, and Indonesia.
India’s micro, small, and medium enterprises (MSMEs) are increasingly looking beyond their first international sale and focusing on building sustainable global businesses. In an interaction with The Economic Times Digital, Abid Murshed, Market Leader-India at PayPal, a global digital payments platform, discusses the challenges Indian exporters face while scaling globally, emerging export opportunities, the role of trust in cross-border commerce, and how data and artificial intelligence (AI) help merchants make better business decisions. Edited excerpts:
For decades, trade policy was mostly about lowering tariffs and signing free trade agreements (FTAs). Today, however, the global economy is being reshaped not only by tariffs but also by supply chains, critical minerals, technology partnerships, and geopolitical considerations. The era when countries traded simply because they were economically efficient is giving way to an era in which they trade with those they trust. The fact that India has secured multiple FTAs and Comprehensive Economic Partnership Agreements (CEPAs) with important trading partners, such as the United Arab Emirates (UAE), Australia, and the EFTA (European Free Trade Association) bloc, is highly commendable.
With the southwest monsoon stalled over southern Maharashtra, India is facing a nationwide rainfall deficit of 41 pc between June 4 and June 18, according to the latest India Meteorological Department (IMD) data. The country has received just 42.6 mm of rainfall against the normal 72.2 mm during the above-mentioned period.
The beneficiaries pool of the Pradhan Mantri Garib Kalyana Anna Yojana (PMGKAY) is being rationalised. The names of 22.1 million people have been deleted across states from the list of those eligible for free ration under the scheme, a move that will allow better targetting of the food subsidy. Food Minister Pralhad Joshi said on Thursday that what was done is “rightful targeting.” He cited instances of ration cards issued in the names of deceased individuals and those who pay income tax availing themselves of the free ration facility.
British High Commissioner to India Lindy Cameron on Thursday said the India-UK Free Trade Agreement (FTA) will deepen economic ties between the two countries, unlock new opportunities across sectors and strengthen the broader strategic partnership between the nations. The India-UK Comprehensive Economic and Trade Agreement (CETA) and the Double Contribution Convention (DCC), also known as the social security agreement, will come into force on July 15. Calling the pact a major milestone, Cameron told ANI the agreement goes beyond trade and has the potential to transform cooperation in areas such as defence, education, technology and science.
Germany's economy will grow less than previously expected this year and next as the Iran war and a resulting energy price shock weigh on consumption and investment, the IMK economic institute said on Thursday. The Macroeconomic Policy Institute (IMK) forecast gross domestic product would expand by 0.6% in 2026 and 0.9% in 2027, cutting its March projections by 0.3 and 0.7 percentage points respectively.
Taiwan's central bank on Thursday raised its growth outlook for the year thanks to the AI boom, while keeping its policy interest rate steady as expected, though the decision was not unanimous due to inflation concerns. The central bank also said it needed to be a bit more hawkish.
Spain's economy likely expanded by 0.5%-0.6% in the second quarter from the preceding three months, when it grew at a similar pace of 0.6% to outperform other large euro zone economies, the Bank of Spain said on Thursday.
Argentina posted a trade surplus of $3.50 billion in May, after registering $9.54 billion in exports and $6.03 billion in imports in the month, the government's statistics office said on Thursday. The data landed well above the $2.2 billion surplus forecast by analysts polled by Reuters.
Foreign holdings of U.S. Treasuries rose in April, data from the Treasury Department showed on Thursday, led by gains by the two largest holders of government dent -- Japan and the UK. Holdings of U.S. Treasuries edged higher to $9.352 trillion in April, up from $9.348 trillion in the previous month. But compared with a year earlier, Treasuries owned by foreigners were up 4%.
British consumer confidence held steady in June but younger people turned more pessimistic about the economy and their personal financial situation against a backdrop of political uncertainty, a long-running survey showed on Friday.
Japan's core consumer prices rose 1.4% in May from a year earlier, government data showed on Friday. The core consumer price index, which includes oil products but excludes fresh food prices, compared with economists' median estimate for a 1.4% annual gain.
The dollar strengthened in Asian trade on Friday, pinning the yen near a four-decade low as a peace deal between the U.S. and Iran hung in the balance and traders speculated further intervention may be needed to arrest a slide in the Japanese currency. The Japanese currency reversed earlier strength to trade flat against the U.S. dollar at 161.455 yen, grinding closer to its weakest level in two years, though public holidays in China, Hong Kong and Taiwan and an impending one in the U.S. kept liquidity thin.
British consumers did more shopping in May and April's sharp drop was revised up as hot weather boosted sales of summer items like fans and paddling pools, data showed on Friday, suggesting households were shrugging off inflation concerns.
British government borrowing jumped much more sharply than expected in May as higher inflation pushed up the cost of servicing inflation-linked debt, official figures showed on Friday in unwelcome news for the public finances.
A U.S. Iran deal is in place for now but the next few weeks will test whether a more permanent agreement can be reached. Key U.S. and Australian economic data are due, Colombians head to the polls, and London hosts a major climate gathering.
The country's installed power generation capacity has crossed 530 GW and is expected to reach nearly 600 GW next year, driven by rapid additions in renewable energy, thermal power and battery storage, a senior Power Ministry official said on Wednesday. Aadhar Raj, Joint Secretary in the Ministry of Power, said the country's electricity sector continues to expand at one of the fastest rates globally, with annual growth of more than 7-8 per cent and renewable energy additions of around 30-40 GW every year.
After being at a war for over four months, the US and Iran will finally be signing an interim memorandum of understanding on Friday. The signing, which will take place in Switzerland, will pave the way for 60 days of negotiations aimed at ending the conflict and imposing strict limits on Tehran's nuclear programme. According to a draft of the agreement, Iran would be allowed to immediately resume oil exports and gain access to an economic development programme worth at least $300 billion as part of broader efforts to reach a permanent peace deal addressing its nuclear activities.
As prospects of a US-Iran truce brightened, US buyers have resumed enquiries with Indian apparel exporters. However, buyers are seeking discounts of 5%-10% across apparel categories, putting pressure on already-thin exporter margins. "Enquiries are coming, but US buyers are offering lower prices," said K.M. Subramanian, president of the Tirupur Exporters Association (TEA). India's readymade garment (RMG) exports have declined for the sixth consecutive month in May, shrinking the year-on-year growth by 14.1% in May 2026 primarily due to weaker demand in the United States, India's largest apparel export market. The US accounts for nearly one-third of India's total apparel exports.
In a relief for India's pharmaceutical sector, prices of active pharmaceutical ingredients (APIs) have declined by 5-10% as the geopolitical situation in West Asia shows signs of stabilisation. The easing of the crisis, which had severely disrupted supply chains of critical raw materials including petrochemical-based solvents, ammonia, methanol and propylene, has brought some breathing room to domestic drug manufacturers which had been grappling with soaring input costs. "There has been a fall in the prices by 5-10%. Prices of azithromycin, paracetamol and major vitamins are down," said Mehul Shah, an industry expert. However, industry insiders caution that a full normalisation may still take time.
India is readying an incentive scheme to support local manufacturing of advanced cell battery components, officials said. Manufacturing of cathode active materials (CAM), anode active materials (AAM), electrolysers and copper foil separators will be supported under this scheme with a likely allocation of about ₹12,000 crore via financial support, they said. India is currently completely dependent on imports for these components crucial to advanced chemistry cell battery manufacturing. "The battery component incentive scheme is in final stages of approval," one of the officials told ET, adding funding support will come with attached conditions to encourage domestic manufacturing and setting up of supply chains. "We don't want companies to import end products or perform last stage processing and claim incentives," the official said.
Tata Sons Chairman N Chandrasekaran’s prediction that Tata Consultancy Services could have as many AI agents as human employees within three years deserves attention not because of the precise number involved but because of what it signals about the future of the country’s information technology (IT) industry. For decades, the sector’s success has been measured not only by revenues and exports but also by the number of engineers it employed. India’s largest IT services companies became symbols of upward mobility by creating millions of jobs and recruiting tens of thousands of graduates every year. Chandrasekaran’s remarks suggest that this equation may be changing. If AI agents increasingly perform coding, testing, support, and other routine tasks, technology companies may be able to grow without expanding their workforce at the pace that became familiar over the past three decades. The significance of the statement lies less in the technology itself and more in the possibility that the industry’s traditional link between growth and hiring is beginning to weaken.
The operating profit of domestic airlines is expected to decline 10-15% this financial year as elevated aviation turbine fuel (ATF) prices, airspace restrictions and rupee depreciation linked to the West Asia conflict continue to increase costs, Crisil Ratings said on Wednesday. It estimates aggregate operating profit for domestic airlines at ₹16,000-17,000 crore this fiscal, down from around ₹19,000 crore last fiscal, due to higher operating costs, limited pricing power and capacity rationalisation. According to Crisil Ratings, the West Asia conflict has pushed up global ATF prices, which remain well above last fiscal’s average despite recent easing.
A high-level delegation from South Korea’s Hyundai Korea Shipbuilding and Offshore Engineering (HD KSOE) met Tamil Nadu Chief Minister C Joseph Vijay on Wednesday (June 17) to advance plans for a mega greenfield shipbuilding cluster in Thoothukudi valued at roughly Rs 38,000 crore (USD 4 billion). The proposed investment, if realised, would mark one of the largest single industrial commitments to southern Tamil Nadu and is projected to catalyse significant economic activity across the region. Big-ticket investment and employment impact The Rs 38,000 crore project is expected to create about 15,000 direct jobs and a far larger number of indirect positions through ancillary industries and local supply chains. Officials described the development as a strategic move to position Thoothukudi as a global shipbuilding hub and to strengthen India’s maritime manufacturing capacity.
The Strait of Hormuz is back in business after more than 100 days of disruption, with over 60 million barrels of crude set to leave the pipeline. Following a US-Iran peace deal, one of the world's most important oil routes is set to reopen, releasing millions of barrels of crude that had been stuck inside the Persian Gulf. However, the return of crude shipments back into the market could create a problem that looked unthinkable just weeks ago an oversupplied market. For Asian refiners that spent recent weeks rushing to secure alternative supplies, the sudden return of those cargoes could quickly turn concerns over shortages into worries about too much oil on the way.
Saudi Aramco is considering the sale of a stake in its sulphur business, three sources with knowledge of the matter told Reuters, extending a strategy of tapping its infrastructure assets to raise tens of billions of dollars. Aramco, the crown jewel of the world's largest crude exporter, has been seeking outside capital to fund the kingdom's ambitious diversification agenda amid mounting fiscal pressure. The oil giant has been actively seeking to sell assets, improve efficiency and cut costs, Reuters reported exclusively last year. The total value of assets from its vast infrastructure empire that it may tap for fundraising could reach around $50 billion, according to one of the sources and Reuters calculations. Aramco invited banks to pitch last month for the sulphur deal, known internally as Project Yellowstone, the sources said, and could raise up to $7 billion, one of them added. Aramco, the world's biggest energy firm, declined to comment.
Nippon Steel, the world's No. 3 steelmaker, expects the American market to remain buoyant, supported by import tariffs and resilient demand, which could lift earnings at U.S. Steel beyond current forecasts, Vice Chairman Takahiro Mori said. "We are confident that U.S. Steel will be able to post profits in excess of 100 billion yen ($624 million) this year," Mori said, adding that the strong market outlook through 2027 suggested additional upside. He said U.S. Steel would generate an annual profit of 300 billion yen to 400 billion yen in the long run. Mori described U.S. conditions as highly favourable, with hot-rolled steel sheet prices above $1,200 per metric ton, more than double the level in Asia. To capitalise on the strong pricing environment, U.S. Steel resumed an idled Illinois blast furnace in March and is now running it at full capacity.
Apple plans to raise prices on its products to offset increasing memory and storage chip costs, CEO Tim Cook told the Wall Street Journal in an interview. A surge in AI-driven demand for data centers has forced consumer electronics companies into a fierce competition for dwindling supplies of the key components, driving prices sharply higher. Groups representing automakers, retailers, electronic firms and others had warned earlier this month that the increasing demand for memory chips could lead to dramatic price hikes in U.S. consumer goods and disrupt supply chains. "Unfortunately, price increases are unavoidable," Cook told WSJ. "We're doing our best to mitigate the huge increases that are being passed to us, and we've been trying to shield our customers from the increases, but the situation has become unsustainable."
Rising fuel prices driven by the Iran war are boosting demand for new and used electric vehicles across Europe, industry data shared with Reuters shows, though some executives warn interest could fade if petrol costs fall. Industry experts say improvements in charging infrastructure and a wave of more affordable models - including from Chinese automakers - are helping make EVs more mainstream, supporting demand. The U.S. and Iran have agreed to an extended ceasefire, but shipping disruptions mean oil flows through the Strait of Hormuz may take weeks to normalise, with fuel prices likely to remain elevated for months. Data provided to Reuters by research group New Automotive and industry group E-Mobility Europe show new EV registrations rose 34% year-on-year in May across 17 markets covering more than 90% of European Union and European Free Trade Association car sales. Fully electric models accounted for almost one in four new registrations in those markets.
U.S. President Donald Trump said in a Truth Social post on Thursday that Apple has agreed to work with Intel to design and manufacture its chips in the United States. A partnership with Intel helps Apple diversify its manufacturing base as it seeks additional chip capacity. The iPhone maker relies heavily on TSMC, whose advanced production lines are in high demand from AI chipmakers such as Nvidia and AMD. Intel reached a preliminary deal to make some chips for Apple after more than a year of discussions, the Wall Street Journal reported in May. Apple and Intel did not immediately respond to a Reuters' request for comments outside regular business hours. An Apple contract gives Intel a steady demand from one of the world's largest consumer electronics companies, boosting both its reputation and a manufacturing business that has lagged TSMC in recent years.
The Indian rupee is set to open weaker on Thursday after a hawkish surprise from the U.S. Federal Reserve boosted bets of an interest rate hike later this year. The rupee is expected to open in the 94.70–94.75 range on Thursday, traders said, after settling at 94.5250 in the previous session. Fed policymakers struck a more hawkish tone than expected late Wednesday, with nine of 18 projecting at least one rate hike in 2026. Economists had anticipated far fewer, with Goldman Sachs saying it expected around three members to signal a hike. Goldman Sachs further flagged the Fed’s inflation outlook, noting the median projection for 2027 core PCE inflation (Q4/Q4) was set at 2.5%, above its 2.3% estimate. The meeting raises the risk of interest rate hikes later this year, the bank said in a note. However, their base case for now remains that the Fed will leave the policy rate unchanged this year.
The green economy—the business lines of global listed companies that generate revenue from climate solutions — now boasts a record high market value of $10 trillion. The increase occurred as revenue tied to environmental products and services climbed to $5.5 trillion last year, expanding at its fastest pace since 2022, according to a report published Wednesday by London Stock Exchange Group. Investors have rewarded that growth: Companies deriving over 20% of their income from green activities have been outperforming the broader equity market, LSEG said. The S&P Global Clean Energy Transition Index has surged more than 80% since the end of 2024, more than double the return of the S&P 500.
Uncertainty isn't a passing phase anymore, it's the new normal for investors. That was the core message from wealth management leaders at the ET Alpha Wealth Summit, where a panel of top industry voices including Rajesh Saluja, Co-Founder, CEO & MD, ASK Private Wealth, Nilesh Shah, Group President & Managing Director and Kotak Mahindra Asset Management Company (KMAMC) broke down how India's affluent investors are repositioning their portfolios for a world of constant geopolitical and economic flux. The topic of discussion was 'Global or Local? The New Allocation Reality'. "Resilient, not return-maximizing" portfolios are the new goal Rajesh Saluja, Co-Founder, CEO & MD of ASK Private Wealth, told the audience that decades of market shocks, from the Asian crisis to the pandemic, have taught wealthy investors one lesson: chasing the highest possible returns is a losing game. Instead, the focus has shifted to building portfolios that can absorb shocks without falling apart.
About $26 billion worth of shares across 71 recently listed companies will become eligible for sale between June 17 and September-end as IPO lock-ins expire, according to Nuvama Alternative & Quantitative Research. The lifting of these lock-ins could create a potential supply overhang for several stocks, said analysts. Of this, shares worth about $15.96 billion across 31 companies that mostly made their stock market debuts in the last six months are slated to become eligible for sale over the next month, said Nuvama Alternative's head Abhilash Pagaria. The list includes ICICI Prudential AMC, Vishal Mega Mart, Inventurus Knowledge Solutions, Sai Life Sciences, Nephrocare Health Services and Oswal Pumps.
The Reserve Bank of India (RBI) on Wednesday temporarily removed interest-rate caps on select non-resident external (NRE) and foreign currency non-resident (bank) [FCNR(B)] deposits, giving banks greater flexibility to attract overseas funds at a time when policymakers are seeking to strengthen foreign currency inflows and support external-sector stability. Under the revised framework, banks will be free to offer higher interest rates on fresh NRE deposits with maturities of three years and above. The RBI has also withdrawn the ceiling on interest rates for fresh FCNR(B) deposits with maturities of three to five years. The relaxation will remain in force until September 30 and will apply both to fresh deposits mobilised during the period and to eligible renewals upon maturity.
India's central bank is not looking to enable direct settlement of government securities via offshore settlement platforms like Euroclear -- one of the world's largest securities settlement systems -- despite recent tax changes aimed at attracting foreign investors, three sources familiar with the matter said. The Reserve Bank of India (RBI) wants overseas investors to participate directly on the domestic Negotiated Dealing System-Order Matching (NDS-OM) platform, an electronic system for secondary market trading in government bonds, the sources said. India has gradually opened up its bond markets to foreign investors over the last six years, by creating a pool of securities with no foreign investment limits and more recently by scrapping taxes on capital gains for overseas investors in these securities.
The government has ratified 8.25 per cent rate of interest on employees' provident fund (EPF) deposits for 2025-26, which is likely to be credited to over seven crore contributing members this month, a source said on Thursday. EPFO provides the rate of interest on EPF after it gets ratified by the government through the finance ministry. The source told PTI that the finance ministry has given its concurrence to 8.25 per cent rate of interest fixed by Central Board of Trustees (CBT), the apex decision making body of the Employees' Provident Fund Organisation (EPFO).
Reference is invited to the GSTN Advisory dated 20.05.2026 regarding enhancements in the e-Way Bill system, wherein it was informed that “Ship-to GSTIN” shall be mandatorily captured in Bill-to/Ship-to transactions. It was also clarified that where the consignee is an unregistered person, the value “URP” shall be entered in the Ship-to GSTIN field. In this regard, representations have been received from trade, ERP vendors, GSPs, ASPs, private IRPs and other stakeholders seeking clarification on the applicability of the said requirement in cases where e-Way Bill is generated along with e-Invoice or by using IRN. Representations have also been received regarding the Voluntary Closure of e-Way Bill facility and its impact on portal-based and API-based operations.Accordingly, an advisory has been issued to apprise stakeholders of the corresponding changes introduced in the e-Invoice API, e-Way Bill by IRN API and EWB Closure API. It has also been informed that the aforesaid changes have been made available in the Sandbox environment for testing and system preparedness. The changes are scheduled to be implemented in the Production environment with effect from 1st August, 2026.
State Bank of India (SBI) is positioned to secure one of the most lucrative windfalls in recent years, as the National Stock Exchange (NSE)’s much-awaited mega Rs 30,000 crore IPO will monetise decades of patient capital with an astronomical 256,775% profit for the country’s largest lender. The proposed Rs 30,000 crore issue, which is structured entirely as an offer for sale (OFS) of up to 148.9 million shares representing nearly 6% of NSE's paid-up capital, is poised to become the largest-ever IPO in India. It eclipses the Rs 27,000 crore record held by Hyundai Motor India's 2024 listing, though Reliance Industries Ltd.'s Jio is also planning an IPO that could be larger but has yet to file papers. Because regulations prohibit a stock exchange from self-listing, the NSE will be listed on rival BSE.
Solar equipment company Waaree Renewable Technologies has bagged a commercial order worth Rs 1,044 crore for the enhancement of a project under its existing EPC contract which entails the works of a solar power plant. Waaree Renewable Technologies: Project details The Waaree Group subsidiary has been awarded this project from ‘one of India’s leading Renewable Energy companies’, the company said in its exchange filing. It added that the scope of commercial order aggregates to Rs 1,044.69 crore, inclusive of taxes. This has been enhanced by Rs 30.91 crore. Under the scope of project Waaree Renewables will carry out the execution of engineering, procurement and construction (EPC) work pertaining to the solar power plant, which has a capacity of 080 MWp/700 MWac. The timeline of order execution is yet to be mutually agreed upon by both the companies, Waaree Renewables noted. “The aggregate order size remains same as per the 1st disclosure submitted on February 20, 2024 i.e. 980 MWp / 700 MWac,” it added in its filing.
Telecommunications company HFCL has bagged an order worth Rs 2,666 crore from PSU– Rail Vikas Nigam. The contract which pertains to the supply of telecom equipment expands its partnership with RVNL. Earlier, the PSU had awarded contracts worth Rs 2,167 crore to the company for BharatNet Phase-III projects in Uttar Pradesh. HFCL-RVNL: Order details Under the scope of work, HFCL will supply telecom equipment and related accessories to RVNL. This also includes the installation and commissioning of these accessories. Additionally, the tech firm will create an optical fiber cable telecom network for RVNL.
The Indian Rupee climbed to 6-week highs of 94.28 per dollar, driven by strong central bank purchases and a slip in oil prices. Brent Crude slumped below the $80 per barrel mark. The currency finally closed trade at 94.52 per dollar. Oil prices have tumbled by more than 32% from their March peaks, as Brent crude futures were trading near the $79 per barrel mark, while the US contract for crude, West Texas Intermediate, was quoted around the $76 per barrel level. Lower oil prices are rupee-positive as they help ease the pressure on country’s import bill “Lower oil levels certainly helped, oil companies purchased during the first half of the trade,” said Anil Kumar Bhansali, head of treasury at Finrex Treasury Advisors. He added that heavy dollar buying by RBI was witnessed during the second half of the trade, during which the currency touched its fresh intraday high level.
India is said to be in talks with multilateral lenders to secure about $2.5 billion in funding from existing credit lines as New Delhi tees up fresh sources of money after the Middle East conflict crimped its ability to step up spending. The World Bank and Asian Development Bank are in discussions to disburse loans worth $1.5 billion and $1 billion respectively, with announcements likely within the next two months, according to people familiar with the matter. The funding is largely to boost urban infrastructure and create jobs, they added, asking not to be identified discussing private matters.
Prime Minister Narendra Modi and US President Donald Trump directed their officials to work towards a balanced, mutually beneficial and commercially meaningful trade agreement at the earliest. The Ministry of External Affairs (MEA) said this on Thursday, a day after the two leaders held wide-ranging talks for the first time in 16 months on the margins of the G7 Summit in an attempt to rebuild the strained bilateral ties. US Trade Representative, Jamieson Greer, will be visiting India next week to take forward the talks on the proposed trade deal.
Two new SEZ projects are slated to come up at the Kandla Special Economic Zone (KASEZ), Asia’s first export processing zone located in Gujarat, with proposals under active consideration by the Board of Approval. The projects have got inprinciple approvals by the Gujarat government. Of the two, a project proposed by Essar Power SEZ will have an initial investment of Rs 50 crore while the other, proposed by Arham SEZ (I) Pvt. Ltd. is pegged at Rs. 230 crore. According to details shared at a programme organised by KASEZ in Ahmedabad on Wednesday, Essar Power Limited has proposed a sector-specific biofuels and biorefiner SEZ in Khambhalia taluka and Arham SEZ (I) Pvt. Ltd has proposed a large multi-product SEZ at Vadala village.
India’s imports of Russian crude oil surged 21% month-on-month in May, driving the country’s total purchases of Russian fossil fuels to €5.8 billion ($6.7 billion) and reinforcing its position as Russia’s second-largest energy buyer globally, even as Moscow’s fossil fuel export revenues rose only marginally amid softer crude prices. The sharp increase comes at a time when Russian crude is becoming increasingly important for Indian refiners. According to the latest analysis by the Centre for Research on Energy and Clean Air (CREA), crude oil accounted for 83% of India’s total Russian fossil fuel imports, amounting to €4.8 billion ($5.55 billion) in May alone. Oil products contributed €550 million, while coal imports stood at €429 million.
The Comprehensive Economic and Trade Agreement (CETA) between India and the United Kingdom will come into force from July 15 with both sides reaching an understanding on the last-leg issues around Britain’s steel safeguard measures. The date for Entry into Force (EIF) of the agreement was announced by UK Prime Minister Keir Starmer and Prime Minister Narendra Modi after their meeting on the sidelines of the G-7 Summit at Evian in France.
China's booming exports are emerging as a major concern for Europe, with leaders of the Group of Seven (G7) economies discussing ways to address growing trade imbalances amid fears of a new "China Shock" hitting European industry, according to news agency AP.
Brazil's central bank cut rates at a third straight meeting on Wednesday and left its next steps open, acknowledging a tougher inflation outlook and risks from election-year fiscal stimulus. The bank's rate-setting committee, called Copom, unanimously voted to lower its benchmark Selic rate by 25 basis points to 14.25%, a level last seen in May 2025, in line with forecasts from 41 of 45 economists polled by Reuters.
The number of people employed in German industry in 2025 fell to a 10-year low of just 6.6 million workers, a study by the German Economic Institute (IW) showed on Thursday. • The decline was not driven by rising numbers of dismissals by employers but by hesitation to refill vacancies and hire new staff • "The decline in new hires is a warning signal for future employment trends," said Luisa Kunze, labour market expert at the Bertelsmann Stiftung, which commissioned the IW study
Germany's economy will grow less than previously expected this year and next as the Iran war and a resulting energy price shock weigh on consumption and investment, the IMK economic institute said on Thursday. The Macroeconomic Policy Institute (IMK) forecast gross domestic product would expand by 0.6% in 2026 and 0.9% in 2027, cutting its March projections by 0.3 and 0.7 percentage points respectively.
Chaiyaporn Arunrasamee hunched over his fishing nets, overlooking the waters of the Andaman Sea, where Thailand's government is proposing an ambitious "Land Bridge" that will ferry goods between ports on opposite sides of the peninsula.
The Federal Reserve left interest rates unchanged at 3.50%-3.75% on Wednesday in Kevin Warsh‘s first meeting as chair. However, the Fed’s latest forecasts show that policymakers are becoming more concerned about inflation and are increasingly open to raising rates again if price pressures remain high.
For more than two decades, China's breakneck urbanisation and construction boom dictated the fortunes of the global steel industry. Today, as Chinese steel demand slows and miners search for new growth markets, attention is increasingly shifting to India. Executives from BHP and Rio Tinto this week pointed to India and Southeast Asia as the next major centres of steel demand growth, arguing that infrastructure spending, industrialisation and urbanisation could help offset weaker consumption in China.
The Indian Pharmaceutical Market (IPM) is expected to maintain its double-digit growth trajectory, driven by strong volume growth and broad-based demand across therapies, according to a report by brokerage firm Equirus. The brokerage described May's performance as one of the strongest demand trends in recent years, with both chronic and acute therapies witnessing robust growth. According to the report, the IPM "posted monthly growth of 12.1 per cent in May'26, marking the sixth consecutive month of double-digit expansion - the most sustained high-growth run in over two years."
India's annual defence production rose to an all-time high of Rs 1.78 lakh crore in the financial year 2025-26, more than doubling in five years as the government's push for self-reliance in military manufacturing gathered pace. The record output marks a 15.6 per cent increase from Rs 1.54 lakh crore in FY 2024-25 and a 110 per cent jump from Rs 84,643 crore in FY 2020-21, according to the Ministry of Defence (MoD). Indigenous defence production has nearly quadrupled from Rs 43,746 crore in FY 2013-14, underscoring the rapid expansion of domestic manufacturing capabilities. Defence Minister Rajnath Singh hailed the milestone, crediting Prime Minister Narendra Modi's leadership and the efforts of stakeholders across the sector.
India could need 817 gigawatts of solar power capacity by 2035, more than five times what it has today, driven in large part by two sources of demand that were barely on the radar when the country first set its renewable energy targets: artificial intelligence data centres and green hydrogen production. According to a Nuvama Institutional Equities’ report, the market has significantly underestimated where solar demand is headed. The demand from data centres and green hydrogen plants alone, they estimate, could add 251 gigawatts of solar capacity over the next decade, which, to give you more context, is more than India’s entire installed solar base today.
India's rice stocks in government warehouses rose 15 per cent year-on-year to a record high at the start of June, while wheat inventories climbed to their highest level in five years following strong procurement from farmers, according to official data.
India is weighing a China-style policy to mandate domestic refiners to build and maintain significantly larger crude oil inventories to cushion the country against future supply disruptions such as those triggered by the Iran war, according to people familiar with the matter. The proposed stockpile would be in addition to the roughly 15 days of crude that refiners hold at their facilities for operational needs. The proposal is at a preliminary stage and key details have yet to be finalised, the people said, adding that no final decision has been taken on its implementation. Refiners are likely to push back against the plan, citing the substantial cost of building new storage facilities and filling them with crude oil, said one of the persons, who did not wish to be identified. If refiners are required to double their inventory levels to cover about 30 days of national demand, they would need to hold a combined 150 million barrels of crude, based on India's consumption of 5 million barrels per day.
When President Donald Trump announced the US deal with Iran on Sunday and declared the "opening" of the Strait of Hormuz, his Truth Social post ended with the words "Ships of the World, start your engines. Let the oil flow!" BBC Verify analysis of MarineTraffic ship-tracking data, however, shows that just seven vessels appear to have passed through the critical waterway since the deal was announced and as many as 580 ships appear to be waiting in the Gulf. Tehran effectively closed the Strait of Hormuz, through which about a fifth of the world's oil and gas supplies are usually transported, following US and Israeli strikes on 28 February.
BMW slashed its outlook for 2026 on Tuesday, blaming an accelerated downturn in the key Chinese market as well as the impact of the Iran war, which the German premium carmaker said had hit consumer sentiment and raised energy costs. The comments showed how exposed Europe's auto sector — already pummelled by fierce Asian competition and weak demand at home — is to developments abroad. BMW said it now expects an operating margin in its core automotive segment of between 1% to 3%, down from 4% to 6% previously, as well as a slight decrease in core deliveries in 2026, having previously expected them to be on par.
OpenAI burned through $3.7 billion in the first quarter of 2026, more than half its $5.7 billion in revenue, The Information reported on Tuesday, citing documents the company shared with shareholders. Reuters could not immediately verify the report. Earlier this month, OpenAI said it had confidentially filed for a U.S. IPO that a source said could come as early as September and value the company at up to $1 trillion.
The U.S. has held off adding China’s AI startup DeepSeek, memory chipmaker CXMT and more than 100 other companies flagged as national security risks to a trade blacklist, according to two people familiar with the matter, as the Trump administration tries to avoid escalating tensions with Beijing. DeepSeek, CXMT and other companies were approved by an interagency committee last year for addition to the Commerce Department's Entity List, which is being reported for the first time. Reuters is also exclusively reporting the large number of companies awaiting publication on the list. DeepSeek, whose low-cost AI model sent shockwaves through the technology world in January 2025, has supported China's military and intelligence operations, a senior U.S. State Department official told Reuters last year, adding that the startup tried to use Southeast Asian shell companies to illegally access advanced U.S. chips.
Just days after its blockbuster Nasdaq debut catapulted its valuation beyond $2 trillion, Elon Musk‘s SpaceX is making another audacious bet, this time in artificial intelligence. The aerospace and technology giant said Tuesday it will acquire Anysphere, the company behind the fast-growing AI coding assistant Cursor, in a deal valued at $60 billion. The transaction, expected to close in the third quarter of 2026,is one of the largest acquisitions in the rapidly evolving AI software sector. It also shows SpaceX’s ambitions to expand beyond rockets and satellite communications, deepening its footprint in enterprise artificial intelligence at a time when demand for AI-powered software tools is surging.
Around 130-150 million barrels of liquid cargo, ships carrying more than 2 million tonnes of fertilisers, and nearly 500 commercial vessels remain caught in the fallout of the Strait of Hormuz disruption, implying that while tanker traffic could resume within days of a reopening, global supply chains may take up to six months to fully normalise, experts warn. According to Kpler, approximately 130-150 million barrels of liquid supplies are currently loaded on tankers inside the Middle East Gulf (MEG) region. In addition, around 35-45 vessels carrying more than 2 million tonnes of fertilisers remain stranded in the region, with no meaningful export offset through alternative ports. “We are currently tracking approximately 130-150 million barrels of liquids loaded in the Middle East Gulf. Based on current loading levels, it could take roughly 7-10 days for these volumes to exit the region, although the timeline will ultimately depend on vessel traffic conditions and the pace at which tanker movements normalise,” said Nikhil Dubey, senior refining analyst, at Kpler.
The US-Iran peace deal and the planned reopening of the Strait of Hormuz may have calmed oil markets, but marine cargo and war-risk insurance premiums are unlikely to fall anytime soon, according to industry executives. “For the marine community, crucially absent from the agreement are the practical details surrounding the reopening of the Strait of Hormuz reopening, particularly Iran’s guarantee to respect freedom of movement within the Strait and the region as a whole,” said Marcus Baker, Global Head of Marine, Cargo & Logistics, Marsh. Baker added that while some marine insurers recognise that conditions in the Persian/Arabian Gulf region have improved over the weekend, the overall market response in the short term will largely depend on further de-escalation of hostilities or perceived breaches of the agreement.
ICICI Prudential Mutual Fund and SBI Mutual Fund led the cash deployment, reducing their cash holdings by Rs 4,679 crore and Rs 3,407 crore, respectively. Quant Mutual Fund, Nippon India Mutual Fund and Axis Mutual Fund also deployed significant amounts, with cash reductions of Rs 1,609 crore, Rs 1,436 crore and Rs 1,036 crore, respectively. The trend, however, was not uniform across the industry. While 24 fund houses deployed cash during the month, an equal number of asset management companies (AMCs) increased their cash levels. However, the rise in cash holdings was significantly lower than the deployment.
The Reserve Bank of India’s (RBI) incentives to attract Foreign Currency Non-Resident (Bank) (FCNR(B) deposits have prompted leading private-sector banks to approach overseas lenders with proposals aimed at financing their non-resident Indian (NRI) clients and encouraging them to place funds through this route. “Foreign banks will gain access to a large NRI customer base and tap secured lending opportunities with limited credit risk. We, in turn, can multiply FCNR deposits beyond our existing dollar liquidity, while NRIs benefit from interest-rate arbitrage,” said a senior banker at a private-sector lender. According to sources, HDFC Bank, Axis Bank and IndusInd Bank have lined up proposals for offshore lenders as they compete for a share of the estimated $50 billion expected to flow through the FCNR(B) route.
Goldman Sachs has managed more than $1 trillion worth of announced mergers and acquisitions so far in 2026, marking a record pace for any investment bank within a half-year period, the Wall Street giant said in a LinkedIn post citing Dealogic data. The figure comes on the back of the investment bank managing SpaceX's landmark initial public offering as lead left underwriter. The Elon Musk company went public in New York on Friday. The bank also acted as co-financial advisors to power company Dominion Energy in its sale to NextEra Energy in a $66.8 billion deal announced last month. In a separate post, CEO David Solomon said global M&A volumes have already exceeded $2.6 trillion this year as AI and strategic consolidation reshape industries, while trading volumes have reached all-time highs as clients navigate a range of risk events.
Distressed companies undergoing insolvency proceedings could get higher valuations under a new mechanism proposed by the Insolvency and Bankruptcy Board of India (IBBI). According to a circular issued by the regulator, it will be mandatory for valuers to take into account “synergistic value” and intangible assets while estimating an entity’s worth. The norms also mark a shift in the valuation approach under the Insolvency and Bankruptcy Code (IBC) from a largely asset-based reporting structure to a more holistic assessment of a company’s market value.
The Securities and Exchange Board of India (Sebi) on Tuesday issued a circular allowing alternative investment funds (AIFs) and venture capital funds to retain funds beyond fund life under specific circumstances. This addresses bottlenecks where funds cannot close because of locked-up capital due to unfavourable circumstances such as disputes, tax claims, or ongoing wind-up costs. The circular, which comes into immediate effect, follows the regulator’s notification in April to provide such flexibilities to AIFs. There are three conditions specified by the regulator for both AIFs and venture capital funds, of at least one needs to be met for retaining funds beyond expiry. These include providing demonstrable receipt of litigation notice or demand by the funds that indicates a potential tax, regulatory, or legal liability.
The new labour code along with the central government rules has introduced several practical changes that are beneficial for employees. One such change is the removal of distinct rules for each central law. Now, all the regulations are combined into a single act, which simplifies things and makes it easier for employees to look up the relevant law and its rules. Moksha Bhat, Managing Partner, AP & Partners, told ET Wealth Online that the rules framed under the four labour codes, at a basic level, make it easier for employers to comply. Instead of having to navigate through different sets of rules for each Central Act, employers now have to refer to one set of Rules for each Code.
The GST Appellate Tribunal (GSTAT) has fixed June 30 as the deadline for filing appeals against GST orders passed before April 1, 2026, and no appeals will be accepted after the portal closes, GSTAT Bihar vice-president Manoj Shankar said at an awareness programme organised by the Bihar Industries Association (BIA) in Patna on Tuesday. Addressing industrialists, traders, tax professionals and taxpayers, Shankar said GSTATS are now operational across the country and urged eligible taxpayers to file appeals well before the deadline to avoid last-minute difficulties.
Raw material expenses of listed manufacturing companies surged 18.3% year-on-year in the January-March quarter of FY26, highlighting growing input cost pressures amid global uncertainties. The raw material-to-sales ratio rose to 58.5% in Q4 FY26 from 57.5% in the preceding quarter, signalling that a larger share of revenues was being absorbed by input costs, according to Reserve Bank of India (RBI) data released on Tuesday. The increase in input costs came despite a strong improvement in sales. Aggregate sales growth of 3,266 listed private non-financial companies accelerated to 13.9% year-on-year in Q4 FY26 from 10.1% in the previous quarter, while manufacturing companies recorded sales growth of 14.5%, driven by automobiles, electrical machinery and non-ferrous metals.
Avaada Group is on track to add 10.5 GW of renewable energy capacity over the next two years, taking its total installed generation capability to 17.7 GW, a top company official said on Tuesday. Talking to PTI on the sidelines of the Avaada Bharat Uday Yatra event, Avaada Energy CEO Kishor Nair stated that the group currently has a renewable energy portfolio surpassing 17.7 GWp, including over 7.2 GWp of operational capacity and approximately 10.5 GWp under construction. He said the company is on track to achieve 17.7 GW of renewable energy capacity in the next two years, as power purchase agreements (PPAs) have already been signed for under-construction projects.
An Indian pollution regulator has alleged wastewater discharged from a Tata components factory for Apple's iPhone has contaminated the groundwater for nearby farms and warned of a forced shutdown unless Tata gives a satisfactory explanation. India's Tata Electronics is central to Apple's push to diversify iPhone production beyond China and is the second-biggest supplier to Apple in South Asia after Taiwan's Foxconn. The Tata plant under investigation is in Hosur in southern Tamil Nadu state and makes back panels and other components for iPhones. Farmland owners near the plant had complained for months to the Tamil Nadu Pollution Control Board that wastewater from the factory was contaminating their land and open wells.
Jaguar Land Rover (JLR) is pinning its FY27 growth ambitions on a new product cycle led by the much-awaited Range Rover Electric and the first model from its reimagined Jaguar line-up. In Its FY26 annual report, Chief Executive Officer P B Balaji outlined a strategy centred on product innovation, electrification and stronger brand positioning, while continuing to build around the company’s four core vehicle brands, Range Rover, Defender, Discovery and Jaguar. “2026 is set to be an exciting year for JLR as we develop our next-generation vehicles, including the launch of the Range Rover Electric and the unveiling of the first new Jaguar,” Balaji said.
Inox Wind Ltd has signed a memorandum of understanding (MoU) to supply 1,500 MW of wind turbines to Inox Clean Energy, in a deal valued at around ₹8,000 crore, significantly boosting the company’s order pipeline and strengthening visibility for future growth. The agreement will take Inox Wind’s order book from 3.1 GW to over 4.5 GW, providing multi-year execution visibility for one of India’s largest wind turbine manufacturers. “The deal value is around ₹8,000 crore,” a senior company official said, requesting anonymity. Under the MoU, Inox Wind will supply its advanced 3.3 MW and 4X MW wind turbines for renewable energy projects being developed by Inox Clean Energy across India.
Adani Ports & Special Economic Zone (APSEZ) on Tuesday said it has expanded its partnership with the US-based Kaleris to drive next-generation capabilities across its ports and logistics network. The partnership is part of its broader 2030 objectives involving an outlay of $850 million towards decarbonisation, technology upgrades and an ambitious one billion tonne of cargo handling capability per annum, APSEZ said. The multi-year agreement will see Kaleris deploy its foundational terminal operating system and AI-augmented advanced container handling and optimisation solutions across 15 APSEZ container terminals spanning nine domestic and international ports, it said.
Tata Motors Passenger Vehicles is targeting an 18-20% market share and a double-digit Ebitda margin by FY30, while planning to invest Rs 33,000-35,000 crore across its passenger vehicle and electric vehicle operations over the next five years, according to the company’s FY26 annual report. The investment will support new product development, capacity expansion, electrification and the broader EV ecosystem as the automaker looks to strengthen its position in the country’s fast-growing SUV and electric vehicle segments. SUVs, CNG, EVs to drive growth The company, which emerged as the second-largest car manufacturer in the second half of FY26 based on Vahan registrations, expects industry growth to continue to be driven by SUVs, compressed natural gas (CNG) vehicles and EVs. Chairman N Chandrasekaran said the company was entering FY27 with a robust pipeline of launches and a multi-powertrain strategy spanning petrol, diesel, CNG and electric vehicles.
The Centre’s fertiliser subsidy may not rise as much as it was earlier feared, with global prices declining after the announcement of the US-Iran peace deal, even as a weaker monsoon may lead to lower fertiliser demand as sowing may get hit. The fertiliser subsidy bill, initially feared to double to Rs 3.4 lakh crore, may eventually be around Rs 2.5 lakh crore this fiscal, as per newer estimates.
India's merchandise trade deficit stood at $ 28.21 billion in May 2026, with lower crude oil prices and higher duties on gold imports likely to ease pressure on the import bill in the coming months, according to a report by Dolat Capital cited. According to ANI, the report noted that petroleum imports surged to $ 22.7 billion in May 2026, up from $ 14 billion a year earlier, even as non-petroleum exports rose to $ 70.7 billion during April-May FY27 from $ 64 billion in the corresponding period last year. Non-petroleum, non-gems and jewellery exports also increased to $ 65.9 billion from $ 59.2 billion.
States' aggregate expenditure rose sharply by 131 per cent between 2015-16 and 2024-25, keeping pace with economic growth, as they focused on welfare and development activities, said a CAG report on Tuesday. Revenue expenditure continued to dominate budgets, averaging over 83 per cent of total spending, while capital expenditure increased in absolute terms but remained a relatively smaller share. "Social and economic services together accounted for about two-thirds of total expenditure, reflecting states' focus on welfare and development," said the CAG's Publication on State Finances 2024-25.
The conflict in West Asia is reshaping India’s trade flows in unexpected ways, triggering a dramatic reordering of both import sources and export destinations. The most striking shift has been Oman’s emergence as a key trade partner. Ranked only 30th among India’s import sources in April-May 2025, the Gulf nation has jumped to 10th place in the first two months of the current financial year. Imports from Oman surged 3.8 times to $3.4 billion, largely driven by energy shipments. The changes extend far beyond the Gulf. The UAE slipped to fourth place among India’s import partners, while Russia reclaimed the second spot, followed by the US. India’s search for alternative LPG supplies helped lift imports from the US, while purchases from Brazil rose 2.8 times to $2.7 billion. Imports from Peru climbed 3.7 times to more than $2 billion, making it India’s 20th-largest import source compared with 35th a year earlier.
New Delhi, Uttar Pradesh, Gujarat, Jharkhand, Manipur, and 9 other states recorded surplus revenues in 2024-25, while the remaining 15 states had a deficit. Eighteen states targeted revenue surplus, 3 states targeted revenue deficit, and 7 targeted zero revenue deficit in FY 2024-25, according to a report on 'State Finances 2024-25' released by Comptroller and Auditor General of India K Sanjay Murthy on Tuesday. "In FY 2024-25, 15 states were revenue-deficient while the rest 13 states were revenue surplus," the report said.
Sales of over 1,800 listed private manufacturing companies expanded by 14.5 per cent in the fourth quarter of 2025-26, mainly driven by automobiles, electrical machinery and non-ferrous metals industries, according to RBI data released on Tuesday. At the aggregate level, listed private non-financial companies continued to record a double-digit sales growth of 13.9 per cent during the January-March period of 2025-26, up from 10.1 per cent in the previous quarter.
Su Shan Tan, the chief executive of Singapore-based DBS Bank, views India as a long-term structural growth story despite nearterm volatility. The country could benefit from the surge in global demand for memory chips and hardware driven by the artificial intelligence boom, but to capitalise on the opportunity, it must invest in people and education, she says. The bank infused Rs 1,600 crore in its India operations in March and remains committed to the country, stepping up investments in wealth, supply chain financing and client connectivity, she tells ET’s Joel Rebello & Sangita Mehta.
Even in this global landscape of heightened volatility and uncertainty, strategic shifts are creating unique opportunities. India's 'China Plus One' gains have been uneven. But the smartphone success story demonstrates what's achievable when policy, infrastructure and investment align. Electronics leads. But integration can deepen across sectors like auto components, automobiles, pharma and engineering goods. India is well-positioned to capture a larger share of low- and mid-tech manufacturing as supply chains diversify. To achieve this, it requires a pragmatic stance on China. Proliferation of FTAs should also open an even wider market for exporters.
India’s exports of agricultural and processed food products rose by 8% year-on-year to $ 4.51 billion during April-May period of the current fiscal year as shipments of buffalo meat increased sharply. Exports of rice, fruits and vegetables, however, declined in current fiscal because of the West Asia crisis. According to data from Directorate General of Commercial Intelligence and Statistics, the shipment of buffalo meat, dairy and poultry products in the first two months of FY27, increased sharply by 45% to $ 1.18 billion, while the value of rice exports including basmati and non-basmati varieties dropped marginally to S 2.04 billion on year.
France's economy is growing more slowly than expected after a sluggish start to the year with the Middle East conflict weighing on activity, the central bank said on Tuesday, warning the outlook was hostage to geopolitical developments.
Argentina likely posted a trade surplus of $2 billion in May, a Reuters poll showed, as crude shipments were buoyed by high global oil prices and weak domestic demand meant exports outweighed imports.
apanese manufacturers' sentiment improved for the second consecutive month in June, as persistent semiconductor demand supported chemicals and machinery makers, the latest Reuters Tankan survey showed. The monthly poll, a leading indicator of the Bank of Japan's quarterly Tankan business survey, revealed that manufacturers' sentiment rose to plus-13 in June from plus-8 in May.
Japan's exports grew for a ninth straight month in May, data showed on Wednesday, as a weaker yen, higher commodity prices and solid semiconductor demand offset the drag from major supply disruptions linked to the U.S.-Israeli war with Iran. The global artificial intelligence boom has cushioned parts of the world economy against war-driven risks, enabling import-dependent nations like Japan to absorb the immediate shock to growth and trade.
British inflation unexpectedly held at 2.8% for May, unchanged from the 13-month low reached in April, official figures showed on Wednesday, a day before the Bank of England will announce its next interest rate decision.
This time 10 years ago, few would have predicted that Northern Ireland would be topping the United Kingdom's economic growth charts after the 2016 vote to leave the European Union.
Japan is moving toward temporarily cutting its consumption tax on food to 1% in what would be the first effective reduction of its kind, further straining its already worsening finances.
Union Minister for New and Renewable Energy Pralhad Joshi on Monday launched India's first dedicated Wind Turbine Supply Chain Management (WT-MARUT) Portal, aimed at strengthening the country's domestic wind manufacturing ecosystem and accelerating its clean energy ambitions. The portal was unveiled at the Global Wind Day Conference in Goa, organised by the Ministry of New and Renewable Energy (MNRE) with support from industry bodies including the Indian Wind Turbine Manufacturers Association (IWTMA), Wind Independent Power Producers Association (WIPPA) and Indian Wind Power Association (IWPA).
Stepping up efforts towards strengthening energy security amid growing AI/data centre push, the Centre is learnt to have asked states to speed up clearances and processes on proposed nuclear power plants and renewable energy storage systems, ET has learnt. The matter was taken up at the recent 11th Governing Council meeting of Niti Aayog with all chief ministers and top officials where it was pointed out that nearly 15 states/UTs required "accelerated action". ET gathers that before the June 11 meeting, states were reminded of pending approvals with respect to setting up of nuclear plants and battery energy storage systems.
Japan's Proterial, a global leader in advanced materials, will set up a rare earth permanent magnet manufacturing facility in Andhra Pradesh with an investment of ₹2,250 crore, marking a key step toward building India's local rare earth value chain and reducing its reliance on Chinese sources, said people with knowledge of the matter. The project, to be located at Achutapuram in Anakapalli district, will manufacture 1.2 kilo tonnes per annum (ktpa) of sintered neodymium-iron-boron (NdFeB) permanent magnets, among the most critical components used in electric vehicles, wind turbines, industrial motors, electronics, aerospace and defence systems. The State Investment Promotion Committee approved the project at its meeting last week.
Gujarat has unveiled its Industrial Policy 2026, targeting investments worth ₹10 lakh crore during the five-year policy period. The policy combines higher incentives, support for MSMEs, promotion of emerging sectors, and a new framework aimed at shifting industries away from congested urban centres. One of the key features of the policy, titled Viksit Gujarat Industrial Policy 2026, is a 50% capital subsidy for R&D centres, with building costs capped at 20% of the total investment. The subsidy is available for the first five R&D centres with a minimum investment of ₹300 crore, subject to a cap of ₹50 crore per annum for five years. In a first-of-its-kind initiative, the policy also gives a thrust to Mission THRIVE (Transition for Harmonized Relocation and Inclusive Vibrant Economy), aimed at decongesting cities and improving urban living by encouraging eligible industrial units to relocate outside city limits.
After a record-breaking year of adding 6.1 GW of installations in 2025-26, the Indian wind sector is projected to exceed expectations and add 8 GW of wind capacity in 2026-27. Pralhad Joshi, the Union Minister for New and Renewable Energy (MNRE), stated that 6.1 GW was the highest capacity India has added in a single year. He said the sector is poised for its next growth phase as wind energy becomes a more reliable source of renewable power, especially with energy security becoming a key focus for the country. According to Joshi, renewable energy has recently met 33% of the nation’s peak energy requirements and can provide round-the-clock power through a combination of solar, wind, and energy storage.
India stands at a crossroads. With over one million young workers entering the labour market every month, a demographic dividend that economists call the envy of the world, and an ambitious $5-trillion economy target firmly in sight, it has every structural reason to accelerate the formalisation of its workforce. And yet, buried within the GST framework — a tax architecture otherwise celebrated for unifying India into a single market — lies a quiet contradiction: an 18% tax on the very services that convert informal workers into formal employees, for the industry that brings underprivileged job market entrants to formal employment opportunity.
Veteran venture capitalist Vinod Khosla has issued a bold warning about the future of India’s massive IT services industry, saying the traditional model that built the sector could soon collapse under the pressure of artificial intelligence. Speaking on the latest episode of Podcast Alpha, Khosla did not hold back. “India’s IT services industry will be gone,” he said, “That’s not a hedged observation.” The comment comes at a striking moment for the sector. India’s IT and business process management industry is on track to cross $300 billion in revenue in FY26 for the first time, according to NASSCOM. Exports alone are estimated at around $200–233 billion. The industry supports nearly 6 million jobs and remains one of the country’s biggest economic pillars.
The Health Ministry has issued a notice that excludes all “syrups” from over-the-counter sale of medication. The move is likely to affect a wide array of products — including cough syrups and some digestive medications. A prescription is now mandatory for purchase of all medicines consumed under this dosage format. The notification did not outline any specific formula or brands — opting instead for an umbrella change that covers nearly all oral, liquid medications. The change will not impact alternative solid formats of the same medicines. “In the Drugs Rules, 1945, in Schedule K, in the column, under the heading Class of Drugs, against serial number 13, in item number (7), the word ‘Syrups,’ shall be omitted,” read the official message from the Health Ministry.
A record 45% of the reserve managers surveyed by the World Gold Council, up 2 percentage points from a year ago, expect to increase their own institutions' gold holdings over the next 12 months, the international organization said on Tuesday. The majority — 54% of 74 central banks that responded to the WGC's annual survey, conducted between February 5 and May 19 — said their holdings would remain unchanged, while 1% anticipated a decline. Most responses were received after the start of the Middle East conflict in late February, which triggered a rally in oil prices and drove gold prices down. Central banks remain keen on gold, and the recent price fall has not changed their minds, said Shaokai Fan, head of the central banks sector at the WGC. The U.S. and Iran agreed over the weekend on terms to end their war and reopen the Strait of Hormuz, prompting a 3% rise in gold prices on Monday. [GOL/]
India's gold imports rose by 34 per cent year-on-year to USD 3.41 billion in May, driven by high prices of the precious metal, while silver imports dipped 86.65 per cent during the month, according to the commerce ministry data. The government increased import duty on precious metals from 6 per cent to 15 per cent effective May 13. According to the data, silver imports dipped to USD 75.57 million during the month under review from USD 566.22 million in May 2025. The rise in gold imports in May pushed the country's trade deficit (difference between imports and exports) to USD 28.21 billion. The price of the yellow metal is hovering near Rs 1,60,000 per 10 grams (inclusive of all taxes) in the national capital. Silver was priced at around Rs 2.60 lakh per Kg.
Oil supplies could normalise and prices fall below $80 per barrel within two-three weeks if the planned US-Iran agreement is signed on Friday and the Strait of Hormuz is reopened without any restrictions, said executives at Indian refineries. The US and Iran have agreed on a deal, scheduled to be signed on Friday, to end all military hostilities, remove the US naval blockade of the Islamic Republic and reopen the Strait of Hormuz. The two countries have also given themselves another 60 days to conclude negotiations over Iran's nuclear programme. Brent crude fell 5% on Monday to $83 per barrel following the announcement.
Global demand for electric vehicles rose for a third straight month in May, as subsidies and high petrol prices continued to drive the transition away from combustion-engine cars, data from consultancy Benchmark Mineral Intelligence showed on Wednesday. Registrations of new battery-electric vehicles and plug-in hybrid electric vehicles rose 3% from a year earlier to around 1.8 million in May, a proxy for sales, pushing the total 0.9% higher than last year for the first five months of the year, BMI said.
OpenAI spent $34 billion last year to dominate the booming AI market ahead of its planned IPO, the Financial Times reported on Monday. Audited financial figures show the ChatGPT maker spent about $19 billion on research and development in 2025 and nearly $6 billion on sales and marketing, as well as other costs, the report said.
Saudi Arabia is known as the “swing exporter” in the oil market because it can either pump out more or less of the black stuff in response to shocks. Historically the kingdom hasn’t had a match on the demand side. Barring a major economic crisis, consuming nations have always kept their purchases steady. Not anymore. After the Iran war, China has emerged as the world’s first oil “swing importer.” The ramifications of China becoming a stabilizing force for commodity prices go way beyond the latest Middle East conflict. This potentially reshapes the energy market — and Asian geopolitics. If the 1973 supply shock minted the term “Arab oil weapon,” the 2026 US-Israeli war on Iran now gives us the “Chinese oil weapon.” Or maybe “shield” is a better word, seeing how it might be wielded by Beijing in future stand-offs with the US.
Schneider Electric and Taiwan’s Hon Hai Technology Group (Foxconn) have entered into a strategic partnership to develop and scale next-generation artificial intelligence (AI) data centres, as surging AI adoption drives demand for faster, more energy-efficient digital infrastructure globally. The collaboration brings together Foxconn’s expertise in AI servers, advanced compute platforms, rack integration and large-scale manufacturing with Schneider Electric’s capabilities in power systems, cooling technologies and energy management, aiming to deliver integrated AI data centre solutions that can be deployed rapidly across markets. Production under the partnership is scheduled to begin later this year. The announcement comes amid an unprecedented build-out of AI infrastructure worldwide, with hyperscalers and technology companies racing to add computing capacity to support generative AI applications, cloud services and large language models.
The Reserve Bank of India allowed all foreign individual investors to buy shares in domestically listed firms directly, implementing a budget proposal and expanding access beyond non-resident Indians (NRIs) and overseas citizens of India (OCIs). This comes at a time when foreign portfolio investors (FPIs) have been pulling money out of Indian equities, adding to pressure on the rupee. The RBI said Monday evening that overseas individuals can invest in equity instruments of listed firms on recognised stock exchanges with enhanced limits, marking a further liberalisation of India's foreign investment regime. KYC Checks This potentially widens the investor base for domestic equities. Such individuals currently bet on Indian markets mainly through pooled investment vehicles managed by foreign institutions, alternative investment funds, mainly Category III, or via limited NRI channels.
Foreign institutional investors have not walked away from Indian equities, they've simply rotated their bets, Samir Arora, Founder and Group CIO of Helios Capital Management, said at the ET Alpha Wealth Summit, delivering one of the sharpest macro reads on India's market narrative in recent months. The $200 billion rotation nobody is talking about Citing data from an ICICI report, Arora revealed a striking structural shift in foreign portfolio behaviour. Four years ago, heavyweight names, HDFC, Reliance, Infosys, TCS, Kotak, Bajaj Finance, and Hindustan Unilever, collectively made up around 40% of the total foreign institutional investor (FII) portfolio in India. Today, that share has nearly halved to roughly 20%.
The Reserve Bank of India’s (RBI) decision to allow banks to lend directly to Real Estate Investment Trusts (REITs) is expected to improve access to long-term capital, lower borrowing costs and reduce the sector’s dependence on the corporate bond market, according to the Indian REITs Association (IRA). The RBI on Wednesday issued a framework permitting banks to lend directly to REITs and Infrastructure Investment Trusts (InvITs). Under the norms, banks can lend only to Sebi-registered REITs with at least 80% of their underlying assets generating positive cash flows for at least one year. The aggregate exposure of all banks to a REIT, along with its underlying special purpose vehicles (SPVs) and holding companies, has been capped at 49% of the trust’s asset value. The norms will come into effect from October 1, or earlier if adopted by banks.
The earnings season got over last month. Before we analyse the quarterly performance of listed Indian banks, let's take a look at how they performed in FY26. The combined net profit of listed private and public sector banks is ₹3.94 trillion, the highest ever, 7.47 per cent higher than in FY25. The private banks' collective net profit is up 4.02 per cent to ₹1.96 trillion and that of public sector banks by 11.13 per cent to ₹1.98 trillion. All figures are rounded off. All PSBs have recorded a rise in net profit for the year -- the quantum of rise varies between 1.65 per cent (Punjab National Bank) and 56.18 per cent (Indian Overseas Bank). In contrast, four private banks have reported a drop in net profit. They are IndusInd Bank Ltd (64.69 per cent), Bandhan Bank Ltd (55.43 per cent), Kotak Mahindra Bank Ltd (14.85 per cent) and Axis Bank Ltd (7.27 per cent).
Even as large e-commerce and quick-commerce companies continue to grapple with the economics of serving rural India, a growing set of startups built specifically for village markets is gaining scale, attracting investor interest and expanding across underserved geographies. These companies, operating at the intersection of agritech, retail distribution and e-commerce, are drawing capital on the back of steady growth and business models tailored to rural realities. In March, rural commerce startup Rozana raised Rs 290 crore in a Series B funding round led by Bertelsmann India Investments, taking its valuation to about $200 million, more than double its previous valuation. Rural distribution platform Gramik recently raised Rs 17 crore in a bridge round ahead of a planned Series A fundraise.
The bankruptcy regulator on Monday issued a circular stipulating standardised formats and documentation requirements for the valuation of companies undergoing resolution under the Insolvency and Bankruptcy Code (IBC). The aim is to put in place a scientific approach to the valuation of stressed firms-which significantly influences creditors' considerations of bid offers and revival plans-and minimise the scope for arbitrary methods. The circular followed a November 2025 discussion paper on valuation guidelines by the Insolvency and Bankruptcy Board of India (IBBI). The latest guidelines have three parts. The first part sets out general requirements regarding documentation to be maintained by the registered valuer, the minimum content of the valuation report, key parameters to be considered while valuing receivables and duties of registered valuers towards designated coordinating valuer.
The Securities and Exchange Board of India (SEBI) is working on a comprehensive framework to govern the use of artificial intelligence (AI) in the capital markets ecosystem, its chief Tuhin Kanta Pandey said on Friday. "AI will be an important part of our regulatory agenda. AI can improve surveillance, risk assessment, fraud detection, and investor servicing. But it also brings risks relating to opacity, bias, data protection, cybersecurity, and accountability. SEBI will issue detailed guidelines on the responsible use of AI in capital markets," Pandey said. He was speaking at the ET NOW Markets Summit 2026.
The Reserve Bank of India (RBI) has amended the rules on how Non-Resident Indians (NRIs), Overseas Citizens of India (OCIs) and other residents outside India can make investments, receive sale proceeds and how such transactions can be reported to the central bank. One of the major changes is that a person residing outside India (NRIs and OCIs) can now maintain a designated repatriable rupee account for investments made on a repatriable basis. These regulations, known as Foreign Exchange Management (Mode of Payment and Reporting of NonDebt Instruments) (Amendment) Regulations, 2026, came into force on June 13, 2026 .
Corporate profits are becoming an increasingly crucial driver of India’s economy. Yet it isn’t a chest-thumping accomplishment in policymaking. If anything, it’s the opposite because those surpluses aren’t being plowed back into new physical assets. The aggregate net income of listed Indian firms is approaching a record 6% of gross domestic product. Even so, their capital expenditure has remained flat, hovering at 3.6% to 3.7% of gross domestic product.
Suzlon, a renewable energy company, has launched India’s tallest and most powerful wind turbine, the 5 MW S175, with the commissioning of a wind project in Vijayanagar, Karnataka. Until now, the Indian market has primarily featured turbines in the 1-2 MW range, but it is beginning to shift toward more powerful options. Girish Tanti, Executive Vice Chairman of Suzlon Group, stated, “The S175 is engineered specifically for Indian wind conditions, grid realities, and operating environments. Its greatest breakthrough lies not only in significantly increasing energy generation but also in its ability to make previously unviable wind sites viable, thus expanding the potential market for wind energy.” He further explained that India could grow from a 350 GW market to a 1.1 Terawatt (TW) capacity, marking a threefold increase in the addressable market. Advanced technologies and innovations have made sites that were previously unviable now operational.
Adani Enterprises and US based Jabil on Monday said they will form an alliance to set up an AI and data center infrastructure manufacturing platform in the country. The platform plans to deploy multi-GW of high-density AI Rack manufacturing capacity in the country . “This will serve the critical infrastructure needs of global hyperscalers, co-location facilities, and enterprise data centers through the advanced manufacturing and integration of next-generation liquid-cooled AI racks, servers, storage, and networking systems utilizing state-of-the-art SMT (Surface Mount Technology) and complex box-build processes,” a release the duo said.
B2B manufacturing platform Zetwerk posted an estimated 24% revenue growth to Rs 15,900 crore in FY26, up from Rs 12,800 crore a year earlier, according to a CRISIL rating note dated June 3. The recovery was driven by the company’s exit from unprofitable businesses and a scaled-down civil infrastructure vertical, the agency noted. The Bengaluru-based firm, which spans energy, precision manufacturing, capital goods, and trading, carries an order book exceeding Rs 12,000 crore, executable over the next 12–18 months, it added. CRISIL pegged Zetwerk’s adjusted net worth at Rs 4,500–4,900 crore as of March 31, 2026, with debt at Rs 2,700–2,800 crore. The rating agency did not disclose profit after tax but noted the net worth estimate factored in expected losses for the year. Zetwerk had reported a net loss of Rs 371 crore in FY25, narrowing from Rs 918 crore in FY24.
Vedanta chairman Anil Agarwal on Monday said each of the group’s five demerged businesses has the potential to become a $100 billion company, as he outlined ambitious growth plans across steel, nuclear power, oil and gas, aluminium and critical minerals following the conglomerate’s restructuring into sector-focused entities. “Every (demerged) company has the potential to become a $100 billion company,” Agarwal said while addressing the media at the listing ceremony of the newly created entities. The four companies — Vedanta Aluminium Metal, Vedanta Power, Vedanta Oil and Gas, and Vedanta Iron and Steel — were listed on the National Stock Exchange and Bombay Stock Exchange on June 15. Agarwal also outlined a major expansion push into nuclear power, saying the group has signed an agreement in the sector and is targeting an initial capacity of 20,000 MW, with a long-term ambition of reaching 50,000 MW.
India’s unemployment rate climbed to an 11-month high of 5.5 per cent in May from 5.2 per cent in April, even as labour-force participation eased, suggesting a softening labour market, according to the latest monthly bulletin of the Periodic Labour Force Survey (PLFS), released by the National Statistics Office (NSO) on Monday. Key Labour Market Indicators Decline Notably, the labour-force participation rate (LFPR), which is the percentage of the population that is either working or actively looking for work, hit an 11-month low of 54.4 per cent in May, down from 55 per cent recorded in April. The LFPR rate in rural areas declined to 56.6 per cent during the month from 57.5 per cent in April, while in urban areas it decreased marginally to 49.8 per cent from 50.1 per cent.
India's export outlook remains challenging in FY27 amid moderating global demand and elevated electronics imports, but the worst phase appears to be behind as a weaker rupee, resilient services exports and strong remittance inflows are likely to cushion external sector pressures, according to a report by Elara Securities. The report noted that softer crude oil prices and easing freight costs in the coming months could help normalise India's import bill, providing some relief to the country's trade balance.
India recorded a current account surplus of $4.7 billion in April 2026, compared with a deficit of $4.8 billion a year earlier, even as net foreign portfolio investment (FPI) outflows widened to $8.7 billion and pushed the overall balance of payments into a deficit, according to preliminary data released by the Reserve Bank of India (RBI) on Monday. The surplus came despite a wider merchandise trade deficit of $27.9 billion in April 2026, compared with $27.1 billion a year earlier. Merchandise exports rose to $44.6 billion from $38.7 billion, while imports increased to $72.5 billion from $65.8 billion. Net services exports strengthened to $18.6 billion during the month, up from $15.9 billion in April 2025. Services exports stood at $37 billion, while imports were $18.4 billion.
Goldman Sachs has turned more optimistic on India's external position, lowering its current account deficit (CAD) forecast for 2026 to 1.3% of gross domestic product (GDP) from 2% earlier and projecting a balance of payments (BoP) surplus of 0.6% of GDP after two years of deficits. Despite lower capital inflows, India posted a $7.2 billion BoP surplus for the January-March period, supported by stronger remittances, robust services exports and reduced oil imports. According to Goldman Sachs, this reflected precautionary dollar demand amid heightened uncertainty in West Asia.
India’s inflation trajectory is beginning to show signs of renewed pressure, with both consumer and wholesale prices rising sharply in May 2026 amid higher food costs, fuel price increases and global commodity volatility, according to separate research reports by HSBC and Bank of Baroda. While retail inflation remains within the Reserve Bank of India’s tolerance band for now, economists warn that a combination of rising energy prices, weather disruptions and global supply-side risks could push inflation significantly higher in the coming months.
The US and Iran have agreed to a deal to end the conflict, with the agreement set to be signed in Switzerland on Friday, raising hopes of a reopening of the Strait of Hormuz and a revival of oil and gas flows from West Asia. The prospect of a peace deal has already pushed Brent crude down to around $83 per barrel, while analysts expect Asian spot LNG prices to fall by up to 40% to $12-15 per MMBtu from the current $18-20 range, potentially delivering significant relief to India’s energy import bill, inflation, subsidy burden and industrial fuel costs. The development is particularly significant for India, which imports more than 85% of its crude oil requirement and over 50% of its natural gas consumption. Nearly 20% of global oil and gas supplies move through the Strait of Hormuz, making any disruption a direct threat to India’s energy security and import costs. Analysts estimate that a $10 decline in crude oil prices can reduce India’s annual import bill by $13-15 billion.
India will take more steps to spur foreign capital inflows, not stopping with the recent announcements made by the government and the Reserve Bank of India, Finance Minister Nirmala Sitharaman said on Monday. “We will be doing more. We recognise we need more foreign capital to come in,” she said at the Hero Mind Mine Summit here. On June 5, the government and RBI launched a coordinated, multi-pronged package to combat persistent Foreign Portfolio Investor (FPI) sell-offs, ease balance-of-payments (BoP) pressures, and stabilise the rupee. Through an Ordinance, the government scrapped 20% withholding tax on interest income on government bonds and the 12.5% long-term capital gains (LTCG) tax on foreign bond holdings
India’s trade deficit widened sharply in May 2026 despite a strong surge in exports, as rising imports outpaced gains in both merchandise and services trade, news agency ANI reported based on data released by the Ministry of Commerce and Industry. While exports touched record levels during the month, a steep increase in imports pushed the country’s trade gap significantly higher compared to the same period last year, underlining growing domestic demand and rising commodity costs, as per the data released by the ministry.
The progress of the southwest monsoon has been sluggish so far with cumulative rainfall until June 14 being just 28.4% below the benchmark longer period average (LPA) for the period. This is in the ‘deficient’ range, according to the India Meteorological Department’s criteria. This follows the late arrival of monsoon over Kerala on June 5 against the usual date of June 1. Finance Minister Nirmala Sitharaman on Monday expressed concern over the impact deficient rains would have on farmers’ income as the IMD has officially forecast a below-normal monsoon for 2026. “Of course, we have enough buffer stocks. Since last year we’ve maintained it, so there shouldn’t be a food shortage.
The recovery in shipment volume to West Asia after two months of decline and the high value of petroleum product shipments helped merchandise exports grow at the fastest rate in six months in May. Shipments rose 18% to $45.2 billion, and with the war in the region winding down prospects for the rest of the year look promising, government officials and trade circles feel. Exports to West Asia, which had fallen sharply to $2.62 billion in March as the war began, returned to last year’s level of $5.3 billion in May. “The May numbers are one of the highest monthly export data. Going by the trend, this year will be good for exports,’ Commerce Secretary Rajesh Agrawal said.
The US-Iran tentative deal to end their 107-day conflict and reopen the Strait of Hormuz could at once boost India’s economic sentiments, ease an already evident pressure on the fisc, avert an emergent balance of payments problem, and help the rupee to hold against the dollar, economists said. If supply chain normalises fast and let prices of key commodities decline like oil and LNG decline, the Reserve bank of India may opt for a moderate upward revision of its GDP estimate of 6.6% for the current fiscal year, many of them felt. However, they cautioned that things were still unfolding.
U.S. factory production was unexpectedly unchanged in May after gains in the prior months, which some economists said were related to businesses building up inventory in anticipation of shortages and higher prices due to the war in the Middle East. Despite the flat reading in output reported by the Federal Reserve on Monday, an artificial intelligence spending boom by businesses is offering a lifeline to manufacturing, helping to offset some of the drag from import tariffs and the recent oil price shock. Business tax incentives for equipment investment are also supporting the sector.
The world economy is weathering the shock of the war in the Middle East with no signs yet of a global slowdown, but risks remain high, International Monetary Fund chief Kristalina Georgieva said on Monday. Georgieva, who will brief G7 leaders on the global economy at a summit in France this week, welcomed the agreement by the U.S. and Iran on Sunday to end their war and reopen the Strait of Hormuz, but warned in a new blog that an intensification of the conflict and supply disruptions posed a "clear risk to global growth."
Peru's economy expanded 3.73% in April from a year earlier, data from the government's INEI statistics agency showed on Monday, exceeding expectations as nearly all sectors posted growth. April's reading came above the 3.55% increase forecast by analysts polled by Reuters and compared with a 3.21% expansion in March.
Australia's central bank held its cash rate steady at 4.35% on Tuesday, saying the economy was slowing in the face of tighter financial conditions but warned it might hike the rate again if it was needed to control inflation. Wrapping up its June policy meeting, the Reserve Bank of Australia (RBA) said inflation was still too high and it would do whatever necessary to bring it down, "including increasing the cash rate target further if required."
Pakistan could improve economic projections for 2027 after the end of the Iran war, but it is still too early to revise the budget, Finance Minister Muhammad Aurangzeb told Reuters, hours after the U.S. and Iran signed a deal to end the fighting. Damaged energy infrastructure meant supply chains would take time to return to normal, after the conflict pushed inflation back into double digits, Aurangzeb said.
China's economy showed increasing unevenness in May, with retail sales falling for the first time in over three years and investment slumping, while industrial output picked up pace. Tuesday's data highlighted a two-speed growth pattern in the world's second-largest economy, with factories buoyed by surprisingly resilient exports but domestic demand worsening amid a multi-year property downturn.
Sunday’s memorandum of understanding between the US and Iran will come as a huge relief to a world weary of the 107-day conflict that roiled oil markets, threatened to push inflation higher, and cast a shadow over global growth and trade. Fingers crossed, the formal agreement scheduled to be signed in Geneva this Friday will pave the way for constructive negotiations and, ultimately, a durable peace.
India is set to add 25.4 lakh tonnes of annual urea production capacity with two new fertiliser plants expected to begin operations shortly, a move the government says will strengthen domestic availability and reduce reliance on imports, PTI reported. The announcement comes as India continues efforts to boost fertiliser self-sufficiency while shielding farmers from global supply disruptions and price volatility. According to a statement issued by the Ministry of Chemicals and Fertilizers, six new mega urea plants have already been established since 2014, adding a combined annual capacity of 76.2 lakh tonnes. "Two more high-capacity urea plants with a combined annual capacity of 25.4 lakh tonnes are set to commence production shortly," the ministry said.
Despite surging urbanisation, booming real estate and ambitious city visions, the country has only one building that towers over the 300-metre mark. Apoorva Mittal traces the limit of our vertical ambitions. Non-profit organisation Council on Tall Buildings and Urban Habitat (CTBUH) defines supertalls as buildings that measure at least 300 metres (984 feet). Lokhandwala Minerva in Mumbai is at 301 metres. Completed in 2022, it is India’s first — and so far only — building that crosses the threshold. Just about. KEY REASONS INDIA HAS NO SUPERTALLS “There are many bottlenecks namely fragmented regulations, approval red tape and lack of infrastructure readiness that prevent supertall buildings from emerging. The local bodies ( municipalities ) in most Indian cities are not used to handling such projects for approvals. The requisite technical personnel and specialised expertise to examine them are not there.
Stepping up efforts towards strengthening energy security amid growing AI/data centre push, the Centre is learnt to have asked states to speed up clearances and processes on proposed nuclear power plants and renewable energy storage systems, ET has learnt. The matter was taken up at the recent 11th Governing Council meeting of Niti Aayog with all chief ministers and top officials where it was pointed out that nearly 15 states/UTs required "accelerated action". ET gathers that before the June 11 meeting, states were reminded of pending approvals with respect to setting up of nuclear plants and battery energy storage systems
Domestic passenger vehicle dispatches from companies to dealers rose 27.3 per cent year-on-year to a record 4,38,854 units in May this year with the demand created due to reduced GST rates and impact of easier financing reflected in higher offtake, industry body SIAM said on Monday. Passenger vehicle (PV) dispatches stood at 3,44,656 units in May 2025, SIAM said in a statement. Total two-wheeler sales rose 14.8 per cent to 19,02,209 units last month as against 16,57,116 units in May last year, it added. "Passenger vehicles, three-wheelers and two-wheelers recorded the highest ever sales of May in 2026, with high double-digit growth in each segment," SIAM Director General Rajesh Menon said.
For decades, India's telecom wars have been fought over spectrum auctions, mobile towers and data tariffs. The next one could be fought on highways. Buried within a 263-page consultation paper titled the Regulatory Framework for Vehicle-to-Everything (V2X) Communication released by the Telecom Regulatory Authority of India (TRAI) is a question that extends far beyond connected cars and road safety: who will control the digital infrastructure of India's future mobility ecosystem?
India has emerged as one of Amazon Web Services’ (AWS) fastest-growing markets, powered by its vast talent pool, thriving developer ecosystem, and an increasingly innovation-first mindset. As AI adoption accelerates across industries, businesses are moving beyond experimentation and exploring new ways to transform operations and customer experiences. Jaime Valles, Amazon VP and MD of AWS Global Sales for Asia Pacific, Japan and Greater China (APJC), speaks to Sudhir Chowdhary about India’s rise as a technology innovation hub, the growing impact of AI, and the opportunities shaping the region’s digital future. Excerpts: What makes India unique for AWS, and which sectors are leading cloud and AI adoption? India stands out for its scale, talent, and mindset. It has one of the world’s largest developer communities and a strong “build from India for the world” outlook, which accelerates innovation. We are seeing strong AI and cloud adoption across sectors. Agentic AI, in particular, is driving transformation, supported by startups, enterprises, and developers.
The government is overhauling the IndiaAI Mission, reassessing priorities amid growing concerns over access to frontier artificial intelligence technologies and the strategic implications of relying on overseas providers, sources said. The review comes against the backdrop of the recent decision by US authorities to suspend foreign access to Anthropic’s latest AI models, Fable 5 and Mythos 5, a move that has intensified debate globally over sovereign AI capabilities and access to advanced technologies. Officials said detailed consultations are underway with industry leaders, researchers and startups to redefine the mission’s objectives. While the current IndiaAI Mission has largely focused on building compute infrastructure and supporting the development of indigenous AI models, there is a growing feeling that the rapid proliferation of open-source models has altered the landscape.
Amid the US-Israel conflict with Iran, exports of basmati rice and tea to West Asia have come to a halt. Exporters said the Strait of Hormuz is shut and three vessels loaded with a total of 100,000 tonnes of basmati rice at Kandla Port have been waiting for the last one week for the route to reopen. Tea exporters said they are flooded with orders for the premium second flush orthodox teas from the Gulf Cooperation Council (GCC) countries, but are unable to ship them.
Global crude oil prices have retreated sharply from their wartime highs, offering relief to consumers and businesses alike. However, according to market expert Vandana Hari from Vanda Insights it is too early to declare victory, as significant uncertainties continue to surround the reopening of key energy routes and the broader geopolitical settlement.
US investment groups are racing to capitalise on the reopening of Venezuela's oil sector, targeting underinvested oilfields and launching new investment vehicles after US President Donald Trump's January call for companies to invest $100 billion to help rebuild the country's energy industry, the Financial Times reported. Among the early movers is Miami-based Lionheart Capital, which has signed a letter of intent aimed at merging its publicly listed affiliate, Lionheart Holdings, with Keo Energy, a group with oil assets in Venezuela's Maracaibo Basin, according to London-based business daily the FT.
Chinese technology company ByteDance is in talks with Shanghai-based Iluvatar CoreX to purchase AI chips for inference work and is also considering a similar deal with Baidu, according to two sources familiar with the matter. If a deal is agreed, Iluvatar CoreX would become ByteDance's third major domestic supplier of graphics processing units (GPUs) after Huawei and Cambricon, the sources added. TikTok parent ByteDance is also considering using Baidu's Kunlunxin chips, they said, declining to be named as the talks are not public. Tencent is already a Kunlunxin chip customer, according to one of the sources. ByteDance, Iluvatar CoreX, Baidu and Tencent did not respond to requests for comment. The potential deals demonstrate that efforts by Chinese chipmakers to offer alternatives to foreign AI chips are gaining traction as Beijing promotes the use of locally developed chips to improve self-reliance amid U.S. export controls on advanced chips. Chinese GPU and AI chipmakers captured nearly 41% of China's AI accelerator server market last year, eroding Nvidia's once-dominant position in one of its most important overseas markets, Reuters reported in April.
Elon Musk said on Sunday that his rocket company, SpaceX, could bring in $1 trillion in revenue by 2030, making the statement two days after the company went public, valuing it at over $2 trillion. "And I would be surprised if revenue is not greater than $1T in 2031," he wrote on his social media platform X, replying to journalist and financial commentator Jon Erlichman. SpaceX on Friday became the sixth-largest U.S. firm, cementing Musk's status as the world's first trillionaire. However, the company still makes far less money than similarly valued tech giants like Broadcom and Amazon.com. In 2025, SpaceX's revenue jumped to $18.67 billion from $14.02 billion a year earlier, but the company swung to a net loss of $4.94 billion from a profit of $791 million. Some Wall Street analysts are cautious about the company's growth. Goldman had estimated that SpaceX's revenue would exceed $470 billion in 2030, while Morgan Stanley projected it would reach nearly $330 billion, according to a Wall Street Journal report from earlier this month.
The rising healthcare costs are seen as the key factor behind the health claim burden and rising renewal premiums. When you say healthcare is expensive, what goes unsaid is that people are using more healthcare because they are getting treated more proactively. So, the healthcare utilisation rate rises not by 5-10%, but exponentially. People today are seeking more healthcare to live longer, and be more active and productive in advanced age. This is the trend; you cannot argue against it. So the product, health insurance, is essentially paying for the increased healthcare use across society.
Foreign investors remained sellers in Indian equities, dumping more than Rs 62,853 crore of shares in the first fortnight of June amid heightened geopolitical tensions, concerns over global economic growth and persistent weakness in the rupee. With the latest outflows, total withdrawals by Foreign Portfolio Investors (FPIs) from Indian equities have surged to Rs 2.87 lakh crore so far in 2026, surpassing the Rs 1.66 lakh crore pulled out during the entire calendar year 2025, according to data from the National Securities Depository Ltd (NSDL). Factors Driving FPI Outflows Pabitro Mukherjee, Deputy Vice President-Research at Bajaj Broking, said FPI flows in the coming week will depend on developments in the US-Iran peace talks, the US Federal Open Market Committee's policy decision, the Bank of Japan's rate decision and commentary from major central banks.
The government may consider additional measures to attract foreign capital, Finance Minister Nirmala Sitharaman indicated on June 15, saying recent tax relief announced for sovereign debt was "not the end of the story". "We believe the bond market can be a good way to absorb the capital coming in. As of now we have done it only for government securities," she said. "Certainly, that is not the end of story. We recognise we need more foreign capital coming in," Sitharaman added at the Mindmine Summit 2026 in New Delhi. The Finance Minister said India sees the bond market as an important channel to absorb overseas capital but noted that reforms so far have been limited to government securities. "Between RBI, government we have analysed and taken steps towards capital gains tax, withholding tax," Sitharaman said at the Mindmine Summit 2026.
Global asset managers have been adding Chinese government bonds to their portfolios since the Iran war broke out, drawn not by yield but by their near-zero correlation with Western markets. Amid a global rout in sovereign debt since March that has sent benchmark yields soaring between 35 and 60 basis points (bps) in the U.S., Britain, Europe and Japan, yields on equivalent CGBs have declined 8 bps. The striking outperformance has caught the attention of real money investors - from sovereign funds and central banks to insurers - prompting a re-assessment of portfolio construction even as it pushed Chinese yields to the lowest outside Switzerland. Chinese debt is attracting investors with a "preservation mandate," offering regional portfolios a low-volatility counterbalance to riskier, higher-yielding assets, said Wei Li, head of multi-asset investments at BNP Paribas Securities.
Market intermediaries are likely to face a liquidity squeeze in the near term after the Reserve Bank of India’s (RBI) tighter lending norms come into effect from July 1. Industry estimates suggest the measures could impact market liquidity by ₹50,000-₹60,000 crore and significantly raise the impact cost for foreign portfolio investors (FPIs) and mutual funds. Consequently, leverage among market intermediaries will get curtailed and make liquidity provision more capital intensive. According to Ketan Marwadi, member of the Commodity & Capital Market Participants Association of India (CPAI), around ₹50,000 crore of liquidity could be affected once the new norms are implemented. He said clearing corporations have around ₹11 lakh crore in collateral, including nearly ₹1.2 lakh crore through bank guarantees and around ₹1 lakh crore through intra-day facilities.
Foreign portfolio investors (FPIs) stepped up purchases of Indian government securities after the government and the Reserve Bank of India (RBI) announced measures to attract foreign capital inflows. FPIs bought ₹11,087 crore worth of government securities through the fully accessible route (FAR) over the past week following the June 5 announcements. So far in June, FPIs have made net purchases of ₹15,895 crore in government bonds — the highest in 15 months. This follows moderate inflows of ₹5,693 crore in May and ₹5,081 crore in April. In contrast, March witnessed a record outflow of ₹17,688 crore amid heightened global uncertainty following the onset of the war.
The government will examine demands for rationalising taxes on equity investments, but is not considering any knee-jerk response to stem foreign institutional investor (FII) outflows from Indian equity markets, a senior Finance Ministry official told The New Indian Express. “There is a need for a deeper study of the taxation of capital gains from equity investments,” the official said, acknowledging that there are currently divergent views on the issue. The official was responding to a question from TNIE on why the government chose to provide tax relief on investments in government bonds by foreign investors while leaving unaddressed the long-standing demand for lower capital gains taxes on equities.
Recently, the Central Board of Direct Taxes (CBDT) issued guidelines for compulsory selection of income tax returns (ITRs) for complete scrutiny and in this regard specified two deadlines, one for internal use and the other for sending tax notices. The two deadlines are: June 15, 2026: (internal deadline) Tax officers have to forward certain selected ITRs which satisfy specific guidelines to the Directorate of Income Tax (Systems) so that further action can be taken. June 30, 2026: This is the deadline for issuance of tax notice under Section 143(2) for ITRs filed in FY 2025-26.
Vedanta Chairman Anil Agarwal said the group's aluminium business can double capacity to 6 million tonnes in about three to three-and-a-half years and has a longer-term vision to reach 10 million tonnes in around five years, as Vedanta completed the listing of its demerged businesses on Indian exchanges. ☐ In an exclusive interview with CNBC-TV18, Agarwal said Vedanta Aluminium is fully integrated and among the lowest-cost producers globally. "Price will go up, price will go down. I am lowest cost producer in the world. Fully ☐ integrated. I have started producing 3 million tonne, going to be 6 million tonne. And vision is to go for 10 million tonne," Agarwal told CNBC-TV18. Asked when the business could reach 6 million tonnes and 10 million tonnes, Agarwal said the first milestone could come in "three, three-and-a-half years" and the larger target in "five years". He said aluminium demand remained high, though prices would continue to move in cycles.
Amazon is stepping up its India bet with fresh investments across ecommerce, quick commerce, artificial intelligence and exports, with the company describing the current period as its most aggressive phase of expansion in the country so far. The renewed push comes after Amazon announced plans to invest $35 billion in India by 2030, adding to the $40 billion it has already invested in the country. "If you look at our investments, we are one of the largest investments in India...USD 35 billion over the next five years, USD 80 billion of exports enablement, continuing to invest in Amazon Now and speed with 100 cities and 1,000 micro fulfillment centres, so we are in the most aggressive phase of expansion in India yet, we are here to play a long-term and win in India," Amazon India country manager Samir Kumar told PTI. The comments come at a time when competition in India's online retail and quick commerce segments is intensifying, with companies racing to expand delivery networks and strengthen product offerings.
Adani Green Energy (AGEL) plans to commission a 14 gigawatt-hour battery energy storage system (BESS) at Khavda, Gujarat, by end of this fiscal year, seeking to reduce wastage of clean energy in a country that's still in the process of building the necessary storage infra. The country's largest renewable energy company has already commissioned a cumulative 3.37 GWh BESS at the site, and plans to scale this up to 50 GWh over the next five years. The site is also home to 30 GW of renewable energy capacity. "This is the world's largest at Khavda where we will have 30GW of renewable energy at a single location and 14 GWh of battery storage," said Rajat Seksaria, CEO, Battery Energy Storage and Green Hydrogen, Adani Group. The project gains urgency as India wasted 300 GWh of clean power in the first quarter of 2026 due to lack of storage infrastructure.
LIC CEO and MD R Doraiswamy has said that despite rising competition in the life insurance sector, the Corporation will stay focused on strengthening its leadership position while contributing to the national development as it heads toward its platinum jubilee. Insurance behemoth LIC alone commands close to 60 per cent market share in the life insurance segment and manages assets of over Rs 57 lakh crore. It has real estate properties valued at around Rs 60,000 crore. The story of Life Insurance Corporation of India (LIC), which completed its 70th year of existence, is inseparable from the story of India.
In the 1970s, a 20-year-old boy stood in the middle of Bombay’s bustling wholesale markets. Around him, shopkeepers scooped coconut oil out of large metal tins and poured it into customers’ steel containers. There were no labels, no sealed packs and no recognisable brands, only a commodity changing hands in the same way it had for generations. Most people would have walked past the scene without a second thought. Harsh Mariwala did not. If consumers trusted packaged food, soap and medicines, why should something as widely used as coconut oil remain an unbranded product sold from bulk containers? That moment of curiosity would eventually lead Harsh Mariwala to build Marico India into one of the most successful consumer goods companies. Long before it became a Rs 13,611-crore business with operations across 25 countries and a market capitalisation exceeding Rs 1 lakh crore, it began with a visionary’s big bet with a blue bottle.
Six months after signalling a strategic reset and a sharper focus on profitability, Tata Starbucks is preparing to accelerate growth again. The 50:50 JV between Tata Consumer Products and Starbucks Corporation is now looking at a long-term opportunity of as many as 8,000 stores in India, a significant escalation from its earlier target of 1,000 outlets by 2028. The shift follows discussions between the two partners, according to an update provided by Tata Consumer chairman N Chandrasekaran at the firm’s 63rd annual general meeting last week. Chandrasekaran, also the chairman of Tata Sons, said that Starbucks was a “very high-potential business” that had significant growth prospects in India. ‘We have had discussions with our partner, and we think eventually the company can have 8,000 stores in India. We are continuing to add 50 to 100 stores a year,” he said.
The announcement that the US and Iran have finalised a deal to end their 107-day conflict and reopen the Strait of Hormuz is expected to boost India's exports to West Asia, which was severely impacted by the hostilities, spur manufacturing activity and help stabilise the rupee, according to exporters and experts. They said the announcement, if implemented successfully, would reduce pressure on India's import bill, ease inflationary covers and create a more conducive environment for trade. The peace agreement would be signed on June 19 in Switzerland.
Electronics could evolve from a rapidly growing export sector into the cornerstone of India's next manufacturing and export-led growth cycle, Yes Securities said, with Monte Carlo simulations showing a 55.2% probability of generating a high FTA Opportunity Score. The brokerage sees Engineering & Machinery and Pharmaceuticals as broad-based beneficiaries too, while Textiles, Gems & Jewellery and Specialty Chemicals face structural headwinds despite FTAs. "India's recent wave of FTAs marks a fundamental shift in economic strategy from cautious protectionism toward deeper global trade integration," Yes Securities said in a research report. To assess impact, it built an FTA Opportunity Score combining five dimensions: change in sectoral export share, structural trade competitiveness, export momentum, manufacturing growth, profitability relative to exports and FDI intensity. Monte Carlo tests ran 2000+ iterations by varying weights to check robustness.
Finance Minister Nirmala Sitharaman on Sunday said India continues to remain the world's fastest-growing major economy, while addressing the BJP's Viksit Bharat event in Bengaluru. The finance minister slammed Congress leader Rahul Gandhi, accusing him of "undermining" the achievements of India and its people while targeting Prime Minister Narendra Modi and the Centre.She alleged that Rahul Gandhi "ignores" India's achievements even in the face of major crises like COVID and the conflict in West Asia. Sitharaman clarified that there is no crisis awaiting in the country as is being portrayed by Rahul Gandhi.
India's wholesale inflation stood at 9.68% in May under a new series, while food and fuel prices stayed at elevated levels amid the continuing Middle East tensions due to the US-Iran war that inflated global crude prices and strained supply chains. India's wholesale inflation had accelerated to a 42-month high of 8.26% in April under the old series. A Reuters poll of economists had forecast a 9.05% annual increase in wholesale prices for May. India's wholesale food prices stood at 4.49% in May while fuel and power prices surged 30.33% in May.
India’s agriculture sector is heading into a challenging season. Concerns over a potentially weak monsoon, the possible impact of El Niño, geopolitical tensions in West Asia, and rising input costs have reignited a longstanding debate over the sustainability of India’s fertiliser subsidy regime. against this backdrop, agricultural economist Ashok Gulati argues that the current system has become fiscally burdensome, heavily dependent on imports, and environmentally damaging, making comprehensive reform increasingly unavoidable.
Commerce and Industry Minister Piyush Goyal on Sunday sought investments from France in the manufacturing sector. Speaking at the 'Bharat Innovates' event in the presence of Prime Minister Narendra Modi and French President Emmanuel Macron in Nice, France, Goyal said India can offer a huge talent pool and scale for manufacturing. "I would invite our French friends to visit India, invest in India, design in India, innovate in India and manufacture in India, both for the large domestic market and export from India to the rest of the world," he said.
Union Minister for Road Transport and Highways Nitin Gadkari, on Saturday (June 13), announced that India has given full legal recognition to 100 per cent ethanol blend fuel—a move that will allow vehicles to run entirely on ethanol and is expected to drastically reduce the country’s dependence on fossil fuel imports. Gadkari said, “the approval would enable ethanol to emerge as a “viable alternative to petrol,” helping India lower its burden of Rs 22 lakh crore in annual fossil fuel imports”. He was speaking at a press conference marking 12 years of Prime Minister Narendra Modi’s leadership.
Prime Minister Narendra Modi and US President Donald Trump are expected to hold key discussions on a possible India-US trade agreement during their meeting on the sidelines of the upcoming G7 Summit 2026 in France, with senior American officials indicating that economic ties and ongoing trade negotiations will be a major focus.
Artificial intelligence could prove more disruptive than earlier technological shifts because it can affect both knowledge-intensive professions and skill-based work, Chief Economic Adviser V Anantha Nageswaran has said. “AI can be more disruptive because it is coming for both cognitive and skill-based jobs,” Nageswaran told ANI, pointing out that the technology is no longer limited to automating routine factory or clerical work.
India’s 100% import dependence on key minerals, over 90% reliance on China for graphite, and heavy supplier concentration across lithium, cobalt and copper are emerging as major risks for its s energy transition, with global supply disruptions threatening availability and costs. India remains fully dependent on imports for lithium, cobalt and nickel, leaving critical sectors exposed to geopolitical tensions, export controls and price volatility. The risks are amplified by concentrated sourcing — China accounts for over 91% of synthetic graphite imports, while Finland supplies nearly 60% of cobalt oxide and hydroxide imports, highlighting structural vulnerabilities in supply chains.
South Korea's artificial intelligence-led semiconductor boom has yet to generate a meaningful spillover into the broader economy, even as concerns over the won and financial stability are increasing the likelihood of a Bank of Korea (BOK) rate hike next month, Nomura's senior economist said.
War in the Middle East pushed the yen to the brink of multi-decade lows and prompted the government to prop it up -- a peace deal, however, won't pull it back from the precipice. Stocks and bonds soared on Monday on news of the planned Iran-U.S. halt to a war that has inflamed global inflation expectations, particularly in energy importers like Japan. But the yen barely budged, holding above the 160 per dollar level that invited official intervention just last month.
The impact of the Iran war continues to ripple across the world economy, pushing up prices and denting the outlook for growth. The European Central Bank raised interest rates for the first time in nearly three years, and inflation in the US accelerated to the fastest pace since 2023.
Indian government bonds surged on Friday, buoyed by a sharp drop in crude prices after U.S. President Donald Trump revived hopes of a breakthrough with Iran, though domestic fiscal concerns limited gains. The yield on the benchmark 6.94% 2036 note shed 2.8 basis points to 6.8957%, its lowest since issuance in May. A U.S.-Iran memorandum to halt the Gulf war could be signed as early as Sunday, a source told Reuters on Friday, adding that the text was still being finalised.
India’s space sector is poised for rapid transformation as the government calls upon established industries to scale up their participation in the country’s burgeoning space economy. The government has introduced a Rs 1,000 crore Venture Capital Fund and a Rs 500 crore Technology Adoption Fund. Union Minister of State (Independent Charge) for Science and Technology and Earth Sciences, Dr Jitendra Singh, highlighted how the private space ecosystem has evolved from a handful of pioneering enterprises to more than 400 startups. He mentioned the role of firms like Skyroot Aerospace, Agnikul Cosmos, Pixxel, GalaxEye and many others that are now leading the charge in developing launch vehicles, satellites, propulsion systems and downstream space solutions.
The banking sector was one of the worst impacted sectors due to the Middle East war. Elara Capital, an investment bank and brokerage firm, noted that the loan growth to MSMEs has slowed across all types of lenders – PSU banks, private banks, and NBFCs as their businesses are hurting due to higher fuel costs, shipping disruptions, and weaker trade. Elara Capital also believes that the impact remains manageable so far, but the brokerage cautioned that a prolonged conflict in West Asia could create challenges. MSME loan growth loses momentum According to Elara Capital, the MSME loan portfolio stood at Rs 46 trillion in April 2026, up 12.8% year-on-year (YoY). Active loans rose 2.4% from a year ago to 19.2 million.
India’s defence exports are on track to surpass the government’s Rs 50,000 crore target before 2029. Speaking at an investor interaction hosted by JM Financial, former DRDO chairman Dr Samir V Kamat said that India’s defence exports currently stand at around Rs 38,000 crore and are expected to grow rapidly in the coming years. “Indigenous system procurement has risen to 70% and imports have fallen to 30%. Over the next five years, indigenous procurement is expected to reach 80-85%,” Kamat said. Growing global demand helping India India is likely to exceed the target as international interest in Indian defence products continues to grow. Key export products include the BrahMos missile, Akash missile system, Astra air-to-air missile, Pinaka rocket system, advanced artillery guns and radar systems. However, he noted that major defence spenders such as the US and China are unlikely to source military equipment from India due to geopolitical considerations. Europe presents a significant opportunity, although many European countries are also pushing for local manufacturing. This could create larger opportunities for Indian companies supplying subsystems and components rather than complete defence platforms.
India is preparing a major DigiDukaan push to digitise 1.4 crore kirana stores, as industry stakeholders discuss a coordinated digital transformation for the country’s sprawling General Trade network. The Department for Promotion of Industry and Internal Trade (DPIIT), together with the Open Network for Digital Commerce (ONDC), convened the CPG Roundtable, Bharat Commerce Chintan Shivir on Friday (June 12) to plan how to bring millions of neighbourhood shops online and integrate them into formal digital supply chains. DigiDukaan is an initiative aimed at giving kirana stores digital tools for ordering, inventory visibility, scheme tracking and working‑capital optimisation so they can transact more efficiently with distributors and brands. Today, most of India’s 1.4 crore kiranas operate with fragmented ordering systems, manual record‑keeping and limited secondary‑sales visibility, which leads to inventory inefficiencies, higher costs and poor scheme implementation. It seeks to address these gaps by enabling direct procurement, digitised collections and shop‑level data flows that improve fill rates, reduce field costs for distributors and provide brands with actionable demand signals.
India’s quick commerce sector is seeing renewed interest and entering a new phase of competition. With Zepto moving closer to its stock market debut after filing an updated Draft Red Herring Prospectus (DRHP), investors are deliberating on the changing dynamics in the fastest-growing internet businesses. How does Zepto compare with the two listed players already competing in the segment, namely Eternal’s Blinkit and Swiggy’s Instamart? Although all the three companies are chasing the same customer who wants groceries, snacks, electronics and daily essentials delivered within minutes, their operating strategies, profitability profiles and growth priorities look quite different. Let’s take a look at some of the most important trends shaping India’s quick commerce race –
India's edible oil imports increased 6.7 per cent year-on-year to nearly 13.39 lakh tonnes in May, driven mainly by higher shipments of crude soyabean oil, industry body Solvent Extractors' Association of India (SEA) said on Friday, reported news agency PTI. According to SEA data, edible oil imports rose to 13,38,936 tonnes in May 2026 from 12,54,883 tonnes in the same month last year. The increase was led by crude soyabean oil imports, which climbed to 4,93,854 tonnes from 3,98,585 tonnes a year earlier. Imports of non-edible oils more than doubled to 26,202 tonnes last month from 12,040 tonnes in May 2025. With both edible and non-edible oils taken together, India's vegetable oil imports rose 8 per cent to 13.65 lakh tonnes in May 2026 from 12.67 lakh tonnes in the year-ago period, the association said. During the first seven months of the 2025-26 oil year, total vegetable oil imports increased 12 per cent to 93.65 lakh tonnes from 83.39 lakh tonnes in the corresponding period of the previous year. Edible oil imports during November 2025-May 2026 grew 13 per cent to 92.17 lakh tonnes from 81.31 lakh tonnes a year ago, while non-edible oil imports declined to 1,47,710 tonnes from 2,07,505 tonnes. SEA said edible oil imports rose in May primarily because the price premium of soyabean oil over palm oil narrowed, making soyabean oil more competitive.
The US, country that once refused to export its fuel, has now climbed to the top spot in the global oil export rankings, overtaking crude heavyweights such as Saudi Arabia and Russia. As the world continues to feel the ripples of the ongoing Middle East crisis, US exports of crude and fuel reached around 10.5 million barrels per day (bpd) in May, driven by strong domestic production and releases from strategic reserves. The performance marked the third straight month that the United States held the position of the world's largest oil exporter. By comparison, Russian exports stood at 7 million bpd in May, according to Reuters calculations, while Saudi Arabia exported 5.9 million bpd, Vortexa data showed. The latest rankings highlight how dramatically the global energy order has shifted. Just a year earlier, Saudi Arabia had exported around 8.1 million bpd, ahead of the United States at 6.6 million bpd, while Russia's exports were estimated at roughly 5.8 million bpd. The shift came after supplies through the Strait of Hormuz, a key Middle Eastern oil passage, were disrupted for more than 100 days. The conflict began on February 28, when the US and Israel launched joint strikes on Iran.
Anthropic said on Friday it will "abruptly disable" its most advanced AI models for all users after the U.S. government ordered it to suspend access to the models for foreign nationals, citing national security concerns. The company received the export control directive to suspend access to Fable 5 and Mythos 5 for all foreign nationals, without being given specific details of its national security concern, Anthropic said in a statement. It is Anthropic's understanding that the government believes there is a method of bypassing, or "jailbreaking," a safeguard that would prevent Fable 5 from being used in identifying software vulnerabilities, the company said. The order comes just as a previous dispute between Trump administration officials and IPO-bound Anthropic showed signs of easing across parts of the U.S. government.
India's measures to improve the attractiveness of its debt are welcome, though concerns over oil prices and their impact on the rupee remain big hurdles in drawing foreign investors to government bonds, a top official at BlackRock said. Seeking to shore up the rupee and interest in bonds, India last week announced tax cuts for overseas bond investors and a host of measures aimed at boosting inflows and improving market access. Foreign inflows into Indian debt have accelerated in the wake of steps, with some managers viewing the steps positively, particularly for India's case for inclusion in the Bloomberg Global Aggregate Index. BlackRock, however, has largely stayed out of the Indian market this year, and is not "meaningfully changing strategic exposure yet," Navin Saigal, BlackRock's head of global fixed income for Asia Pacific, said.
On Friday, Elon Musk’s image loomed large over Times Square from the giant TV screen of the Nasdaq stock exchange, as tourists outside snapped selfies, SpaceX investors in T‑shirts grinned at their newfound fortunes and news cameras jostled for position. “If people had told me this was going to happen, I was like, ‘man you must be smoking some really good crack,’” Musk said in a video address celebrating SpaceX going public. "I gave SpaceX less than a 10% chance of succeeding at all." Global reaction to SpaceX’s public listing - which values the company at more than $2 trillion and has made Musk the world’s first trillionaire - has spanned investor euphoria to admiration among fans and sharp criticism from politicians and members of the public who see him as a symbol of rising global inequality. At Starbase, where SpaceX launches its Starship rockets on the Texas border with Mexico, cheering fans traveled from far and wide in the hope of catching a glimpse of Musk. Lesley Varin, from Washington state, surrounded her car with stuffed toys holding handwritten signs celebrating SpaceX. One read: “Congrats Elon, Big 1st!”
India's forex reserves dropped $711 million to $681.610 billion during the week ending June 5 due to a sharp decline in foreign currency reserves, according to the latest data released by Reserve Bank of India (RBI). The decline follows an increase of $938 million in the previous reporting week, when the forex reserves had risen to $682.321 billion. For the week ended June 5, foreign currency assets, that form a major component of the reserves, was down $2.704 billion to $543.444 billion, according to RBI. However, the value of gold reserves increased $1.975 billion to $114.575 billion during the week. The special drawing rights (SDRs) were up $18 million to $18.765 billion, the RBI said.
Elon Musk is once again at the centre of global financial attention as his net worth surges to unprecedented levels, putting him on the brink of becoming the world’s first trillionaire. According to the latest Bloomberg Billionaires Index, his wealth has climbed to around $1.1 trillion, driven largely by a sharp rise in the valuation of SpaceX and continued strength in Tesla.I The jump has widened the gap between Musk and other global tech billionaires, reinforcing his dominance at the top of the global rich list. Musk Leads Global Rich List by a Massive Margin Recent rankings highlight just how far ahead Elon Musk has pulled from the rest of the world’s wealthiest individuals. Elon Musk: $1,331 billion Larry Page: $304 billion Sergey Brin: $283 billion Jeff Bezos: $262 billion Larry Ellison: $237 billion Michael Dell: $211 billion Mark Zuckerberg: $202 billion Jensen Huang: $170 billion Bernard Arnault: $165 billion Jim Walton: $147 billion
Indian investors looking to diversity seyond domestic markets can now ccess global stocks, mutual funds, woods and other International westment products through the GIFT ty (Gujarat International Finance ec City It's India's first smart city and International Financial Services Centm (IFSC) acting as a global hub in finance and tertionlogy offering special business zones and tax benefits to attract international companies. However, there are Investment limits, costs and regulatory requirements that levestors should understand before getting started What investment options are available through GIFT City? GIFT Chy has several outhound retail mutual funds that invest in global markets. For example, DSP Global Equity Fund launched in Sept 2025, Edelweiss Greater China Fund in March 2026 and PPFAS launched S&P 500 and Nasdaq 500 Fund of Funds from GIFT Cry in May 2026" says Ankur Choudhary,en founder and CEO Belong
Securities and Exchange Board of India (Sebi) Chairman Tuhin Kanta Pandey on Friday said the regulator is working on developing longer-term futures and options (F&O) contracts in the equity derivatives market as part of its broader effort to strengthen the derivatives ecosystem. Speaking at the ET Now Market Summit in Mumbai, Pandey said deepening the cash market remains a priority for Sebi. The regulator is reviewing the lending, borrowing and short-selling framework to improve inter-linkages between the cash and derivatives markets and enhance liquidity. Pandey also highlighted other areas under review, including the delisting framework, with the aim of ensuring a fair entry and exit mechanism for investors in the capital markets. On market volatility, the Sebi chief said fluctuations cannot be wished away during challenging periods and must instead be managed. He said the true test of markets lies in their ability to absorb shocks while protecting investors.
After seven quarters of contraction, the microfinance sector’s gross loan portfolio (GLP) posted a sequential growth of 3% to ₹3.25 lakh crore in Q4FY26, aided by a sharp recovery in disbursements and improving asset quality. On a year-on-year basis, however, the sector’s GLP remained 13% lower than ₹3.75 lakh crore reported in March 2025, according to the 57th edition of Micrometer for Q4FY26 released by Microfinance Industry Network (MFIN), a self-regulatory body for the sector. Microfinance loan disbursements rose 28% quarter-on-quarter to a seven-quarter high of ₹77,524 crore in Q4FY26. The industry had last witnessed higher quarterly disbursements in Q4FY24, when it reported a record ₹1.07 lakh crore. “We can now say that despite the tough 2 years, Industry is turning the corner as evidenced by uptick in portfolio and continued improvement in Portfolio at Risk – PAR 31-180 declining to 2.0% as of March 2026 compared to 6.3% a year ago,” Alok Misra, CEO & Director of MFIN said in a statement. He added that a significant policy development which will further strengthen this recovery is the CGSMFI 2.0 scheme of Government of India. Recent extension of the scheme till August 2026 will allow sufficient time for utilisation.
The RBI's recent measures to incentivise overseas borrowings could lower funding costs for banks by 2-2.50 per cent through the external commercial borrowing (ECB) route, helping lenders raise resources at cheaper rates while improving liquidity conditions, according to a report. It also said that the RBI's concessional USD/INR swap facility for ECBs and overseas foreign currency borrowings (OFCBs) will significantly reduce hedging costs for banks, allowing them to mobilise overseas funds while keeping funding costs under control. "The borrowing cost for banks via the ECB route is expected to fall by 2-2.50 per cent, which will enable the system to raise resources while keeping funding costs under control," said brokerage firm Motilal Oswal Financial Services in its report.
India's total outward foreign direct investment commitments declined 49.02 per cent month-on-month to USD 4.49 billion in May 2026 from USD 8.84 billion, mainly due to lower equity investments, loans, and guarantees issued by Indian companies, according to RBI data. However, total financial commitments by Indian entities under overseas investment increased 34.6 per cent year-on-year in May 2026 from USD 3.34 billion, data showed. Equity investments abroad dropped sharply to USD 1,247.82 million in May from USD 3,537.35 million in April, marking a decline of about 64.72 per cent. Overseas loans extended by Indian companies also declined to USD 632.12 million in May from USD 1,299.69 million in April. Guarantees issued, which formed the largest component of overseas commitments, fell to USD 2,608.83 million in May from USD 3,999.79 million in April, declining around 35 per cent. However, it increased from USD 1,122.37 million in May 2025.
A ruling by the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has underscored the importance of understanding tax deduction at source (TDS) obligations when purchasing property. The case involved a Mumbai resident, who had jointly purchased a residential flat in the tony area of Haji Ali, worth Rs 1.9 crore with her husband. She held a 15% share in the property (Rs. 28.50 lakh) and deducted TDS of Rs 28,500 under Section 194-IA on her share of the purchase price. However, the tax department later raised a demand exceeding Rs 5.8 lakh, alleging short deduction of tax on the ground that the seller's PAN was inoperative and therefore higher TDS provisions under Section 206AA should have applied. The ITAT deleted the demand, noting that the seller had subsequently linked Aadhaar with PAN and regularised the PAN within the timeline prescribed by a circular issued by the Central Board of Direct Taxes (CBDT) in July 2025. The ITAT also observed that the seller had disclosed the capital gains in his tax return and paid the applicable taxes, making it inappropriate to treat the buyer as an 'assessee in default'.
To cut mounting losses in the backdrop of several headwinds, the Tata Group-run Air India is looking to defer aircraft deliveries, cut flights and postpone expansion plans. According to a Bloomberg report citing sources, Air India is in discussions with aircraft manufacturers - Airbus SE and Boeing Co - to slow down deliveries of as many as 500 planes previously ordered. This, as per the report, would enable Air India to push back the large payments due to plane makers upon delivery. The carrier is also reevaluating plans to fly to new domestic and international destinations, pruning some routes and postponing launches at some airports, such as the new Noida International Airport (NIA), the people familiar with the matter said.
Tata AIG General Insurance reported a net profit of Rs 1,008 crore for FY26 despite facing the largest claim in Indian aviation history last year. The company's books were protected due to its conservative policy of reinsuring the bulk of large risks. The General Insurance Corporation had estimated claims of over $400 million last year from the Air India Ahmedabad crash. Since then, reinsurers have settled some claims. Tata AIG, which was the lead insurer, had a 45% share of the risk. "We fully provided for it in that same quarter itself. Net of reinsurance, our exposure was less than Rs 50 crore," said Amit Ganorkar, MD & CEO, Tata AIG General.
Air India is looking to defer aircraft deliveries, cut flights and postpone expansion plans after majority owner Tata Group instructed the carrier to focus on reducing its record losses, according to people familiar with the matter. The change in strategy is an abrupt pivot from an ambitious growth plan. It reflects the loss of confidence in an airline that suffered a fatal crash a year ago and has since incurred an annual loss equivalent to about $3 billion (about Rs 28,500 crore).
Tata Sons' board met on Friday to approve the company's financial results for the year ended March 31, 2026, recommending a dividend to equity shareholders, even as it kept chairman N Chandrasekaran's reappointment off the agenda for a second consecutive time. "The board stuck to the agenda and there was no discussion on controversial matters," said a person familiar with the proceedings.
Metals and mining giant Vedanta Resources is set for a historic restructuring that will see the $18 billion conglomerate split in four. In an exclusive interview with Saket Kumar, Sudheer Pal Singh and Asit Ranjan Mishra/Business Standard in New Delhi, Vedanta Founder and Chairman Anil Agarwal discusses the motivation behind the exercise, and explains why he thinks India's mining industry needs an overhaul.
India must expand its international engagement to realise its vision of becoming a USD 30 trillion economy by 2047, according to Union Minister of Commerce and Industry Piyush Goyal. Speaking at the closing session of the 5th Annual Meeting of the India Global Innovation Connect, the Minister emphasised that India's economic growth is not a zero-sum game. Instead, he argued that the country's trajectory is deeply linked to fostering strategic partnerships with developed nations, which stand to complement rather than compete with Indian industry.
India's inflation trajectory is giving the Reserve Bank of India more room to hold rates through Q1FY27, but food and fuel risks could still flip the script in H2. Yes Securities expects headline CPI for Q1FY27 to undershoot RBI's 4.2 per cent forecast as the May print at 3.93 per cent YoY and benign base effects keep the average low. However, building momentum in vegetables, core services and pump prices, plus the looming El Nino threat, means RBI will likely stay "data-dependent" rather than front-load any August rate hike.
India's labour productivity gap with China has widened by more than USD 30,000 per worker since 2000, despite decades of strong economic growth, with the country yet to achieve the industry-led productivity transformation seen in economies such as China, South Korea and Vietnam, according to an Equirus Securities research report. The report, titled "Labour Productivity in Emerging Economies: Catch-up, Innovation, and now AI", said India's GDP per worker has more than tripled since 1995, but productivity gains have lagged behind some of its Asian peers.
India's new generation of Free Trade Agreements can act as a catalyst for manufacturing expansion, private capex revival and supply-chain integration, with Electronics, Pharmaceuticals and Engineering & Machinery Goods positioned as the strongest beneficiaries. Yes Securities said the agreements, combined with PLI schemes and "China+1" diversification, give India its clearest shot yet at achieving US$1 trillion in merchandise exports by 2030.
Food inflation, as measured by the recently revised consumer food price index, rose sharply to 4.78% in May, primarily because tomatoes and ginger became costlier. Sequentially, the all-India Consumer Food Price Index (CFPI) rose by 0.91% in the month from the April level. Food inflation was 4.2% in April 2026, and it was in the negative territory for seven months through December 2025. Food inflation was 2.13% in January, when the new consumer price index (CPI) series with a base year of 2024 was introduced by the Ministry of Statistics and Programme Implementation.
Consumer prices in France rose 2.8% year-on-year in May, the highest level since February 2024, statistics office INSEE said on Friday, confirming a preliminary reading published last month. The EU-harmonised inflation rate in the bloc's second biggest economy continued accelerating in May, after a 2.5% increase in April.
Germany's economic recovery is likely to proceed in small steps at best, depending on the conflict in the Middle East, and energy and commodity prices, the economy ministry said on Friday. The ministry added in its monthly report that economic momentum likely slowed noticeably in the second quarter, with industrial production expected to show only modest growth in the coming months and no upturn in labour demand anticipated even during the summer due to higher energy prices.
Heavy government spending on defence and infrastructure will stop Germany from slipping into recession this year, as the war in Iran takes its toll on Europe's biggest economy and lifts inflation, the Bundesbank said on Friday. Germany’s economy has been broadly stagnant for the past three years, with a jump in spending expected to restart growth this year, only for a war-driven surge in energy prices to derail the recovery.
Brazil's consumer inflation accelerated more than expected in May, official data showed on Friday, breaching the top of the central bank's target range for the first time since October ahead of a key rate decision next week. Annual inflation in Latin America's largest economy rose to 4.72% in May, statistics agency IBGE said, up from 4.39% in April and above the 4.66% consensus forecast by economists in a Reuters poll.
U.S. consumer sentiment bounced off record lows in early June as easing gasoline prices offered households some relief, though concerns about inflation stoked by the Middle East conflict lingered. Lower-income households led the broad improvement in sentiment reported by the University of Michigan's Surveys of Consumers on Friday. Gasoline prices have dropped from four-year highs over the past three weeks, according to data from motorist advocacy group AAA, as oil prices stayed below $100 a barrel despite a fragile ceasefire.
The Italian economy will grow by 0.6% this year and 0.4% in 2027, the country's central bank said on Friday, confirming its previous estimate for 2026 but trimming next year's outlook from a 0.5% projection made in early April. "Economic activity is set to be affected by weaker domestic demand, held back by the surge in energy prices and even higher geopolitical uncertainty," the Bank of Italy said, forecasting a jump in inflation this year compared with its previous estimate.
A growing number of Americans are falling behind on their credit card payments, pushing delinquency levels to their highest point since the years following the Great Recession and raising concerns about financial stress among a section of US consumers. Data from the Federal Reserve Bank of New York shows that about 13% of the nation’s total credit card balance was at least 90 days overdue during the first quarter of 2026, reported The USA Today. That is the highest level recorded since 2011, when the United States was still recovering from the financial crisis that began in 2008.
A plant that farmers across the Deccan Plateau dismissed for decades as a fencing weed is now earning them premium payments from India's newest category of distillers, according to a BBC report published on June 12. Masapalli Venkatesh, who grows tomatoes, peanuts and corn on a 10-acre farm in Kandukur on the Deccan Plateau, was first approached by traders seeking agave americana in 2010, the BBC reported. Farmers in the region had treated the cactus as a 'stubborn, valueless weed, planting it only as fencing to keep wild animals away from crops, according to the report. The plant, however, belongs to the same family that supplies the $15-billion global tequila and mezcal market, the BBC said. Venkatesh now coordinates villagers and farmers across a 100-km radius, aggregating wild agave from multiple farms into the steady, high-volume supply that distilleries pay a premium for, he told the BBC. The income stream has earned the plant a local nickname, 'blue gold', according to the report
India on Thursday granted retrospective customs duty relief on specified nuclear power generation equipment imported between April 1, 2019 and January 31, 2026, shielding importers from any tax demands on such shipments during the period. In a notification issued Thursday, the Finance Ministry said the relief covers goods used for generation of nuclear power. The notification clarified that any customs duty, if any, payable on imports of the specified goods during the period would not be required to be paid.
Indian industrial groups Reliance, Vedanta and Adani have shown interest in developing facilities to process Andhra Pradesh state's significant reserves of increasingly important rare-earth minerals, according to two sources with knowledge of the matter. With New Delhi seeking to cut India's dependence on China for rare earths, the three companies are among about 10 who have expressed interest in setting up rare earth facilities in the southern state, one of the sources said. The sources declined to be identified as they were not authorised to speak to the media.
India is rapidly reshaping its energy landscape, with solar power playing the central role. Vikram Solar Ltd has emerged as a frontrunner, leveraging technology, innovation, and sustainability to lead the sector. Having evolved as a leading solar photovoltaic (PV) module manufacturer from India, the company is now embedding itself deeper into the energy ecosystem. India's ambitious target of 500 gigawatts (GW) of non-fossil fuel-based energy capacity by 2030 aims to transform the energy landscape. As of March 2024, the country’s renewable energy capacity had tripled, reaching 191GW, with solar power contributing a significant 82GW.
Gujarat International Finance Tec-City (GIFT City), home to India’s only International Financial Services Centre (IFSC), is seeking to emerge as a hub for aviation leasing. With Indian airlines expected to add around 2,200 aircraft over the next decade, GIFT City sees a significant opportunity in aircraft leasing and aviation finance. “Right now, the aircraft is flying in one place while the financing is happening somewhere else. What we aspire to do is bring that financing activity here,” said Sanjay Kaul, Managing Director and Chief Executive Officer of GIFT City, during a media interaction on Thursday. At present, Dublin is the global hub for aircraft leasing and aviation finance, accounting for more than 60% of the world’s leased commercial aircraft fleet. Other established centres include Dubai and Singapore.
The first India-manufactured Airbus C295 military transport aircraft has successfully completed its maiden test flight from the Final Assembly Line (FAL) in Vadodara. This marks a major milestone for India’s defence manufacturing ambitions and the country’s push to build military aircraft domestically under the Make in India and Atmanirbhar Bharat initiatives. Announcing the development, Air Defence said that the first “Made in India” C295 conducted its maiden flight from Vadodara, calling it a “milestone for Indian aviation and defence.” The company said the flight is a crucial step in the aircraft’s post production testing process and advances the programme’s objective of delivering the first India-built C295 aircraft to the Indian Air Force (IAF) later this year. Reacting to the achievement, the IAF said it “congratulates the entire team behind the successful maiden flight of the first India-made C-295.” The force added that the milestone “reinforces India’s growing aerospace capabilities” and highlights its commitment to fostering indigenous defence capability under the vision of Atmanirbhar Bharat.
In a move aimed at ensuring uninterrupted fuel availability for ordinary consumers, the government has barred industrial, commercial and institutional users from purchasing petrol and diesel from retail fuel pumps and directed them to procure fuel through designated bulk supply channels instead, PTI reported citing an official order. The restrictions, which can remain in force for up to 90 days, come amid concerns that a growing number of bulk consumers have shifted to buying fuel from petrol pumps to take advantage of lower retail prices, putting pressure on supplies meant for the general public. The Ministry of Petroleum and Natural Gas on June 11 issued the Motor Spirit and High Speed Diesel (Temporary Regulation of Supply through Retail Outlets) Order, 2026, empowering fuel retailers and oil marketing companies to regulate fuel sales through retail outlets.
The government’s wheat procurement for 2026-27 rabi marketing season (April-June) has crossed 35 million tonne (MT), highest in the last four years. As agencies wind up the Minimum Support Price (MSP) purchase operations in key producing states, the overall grain purchase so far has been 35.41 MT which exceeds the target of 34.6 MT for the season. Wheat purchases this season, which officially ends by the end of June, are 18% higher compared to 30 MT purchased in the previous marketing year (2025-26). This against the arrivals of 42.22 MT of grain across mandis in key producing states. The aim of the government purchase is to bolster stock and ensure supplies under the public distribution system. Previously, a record 43.33 MT of wheat was purchased from farmers during the 2021-22 marketing season.
Alphabet's Google is in talks with Samsung Electronics to manufacture part of its next-generation artificial intelligence processor, The Information reported on Thursday, citing two people familiar with the matter. Google plans for TSMC to make the main computing part of the tensor processing unit, codenamed "Icefish", while Samsung may produce a component that helps connect it to memory using its 2-nanometer production technology, the report said. The tech giant is working with chip firm MediaTek on the design, and “Icefish” is still in development, with mass production possible as early as 2028, the report said.
The United States and the European Union have yet to decide whether to continue suspending or to reimpose tariffs on $11.5 billion of goods in a decades-long dispute over aircraft subsidies with just days to go before their truce expires. The two sides in 2004 lodged parallel cases at the World Trade Organization over subsidies for U.S. plane maker Boeing and European rival Airbus, accusing each other of unfair competition. The WTO in 2019 authorised the United States to impose tariffs on $7.5 billion of EU goods, such as cheese, in the case against Airbus. A year later, it gave the EU the right to respond with countermeasures on $4 billion of U.S. imports, including tobacco and spirits. On June 15, 2021, both sides agreed to suspend these tariffs for five years. A European Commission spokesperson said on Thursday that discussions were ongoing to extend the suspension.
A U.S. appeals court on Thursday extended its block on a lower court ruling against the Trump administration's 10% global tariff under Section 122 of the Trade Act, keeping the tariffs in place for three importers that had won a reprieve from the duties last week. The decision from the Federal Circuit appeals court allows the U.S. to continue collecting tariffs from three importers while the government's appeal plays out. The U.S. trade court ruled against the new tariffs on May 7, but did not widely block their collection. The three importers impacted by the ruling are two small businesses and the state of Washington, which paid tariffs on purchases by the University of Washington.
Elon Musk’s SpaceX has pulled off the biggest initial public offering (IPO) in US history, raising a staggering $75 billion and instantly becoming one of the most valuable companies in the world. The rocket maker priced its shares at $135 each on Thursday, selling 555.56 million shares and reaching a valuation of $1.77 trillion. The blockbuster debut puts SpaceX among the largest publicly traded companies in America, ahead of corporate giants such as JPMorgan Chase, Berkshire Hathaway, Eli Lilly, Meta Platforms and even Musk’s own Tesla. When trading begins on Nasdaq on Friday, SpaceX is expected to rank as the seventh-largest listed company in the United States. The only six US-listed giants ranking ahead of it by market capitalisation will be NVIDIA, Alphabet, Apple, Microsoft, Amazon, and Broadcom.
India's bank credit growth accelerated to its fastest pace in nearly two years, driven in part by rising borrowing from oil marketing companies hit by lower realisations following the recent surge in crude prices, according to a report by Times of India. Credit expanded 17.7% year-on-year in the fortnight ended May 31, 2026 — the strongest growth recorded so far in FY27 and the highest since June 2024. Outstanding bank credit rose by Rs 1.5 lakh crore between March 31 and May 31, 2026, marking a 0.7% increase in the first two months of the financial year, the report said. Total outstanding credit reached Rs 215.2 lakh crore by the end of May.
Indian lenders have sought clarity from the Reserve Bank of India (RBI) on whether domestic banks can leverage the foreign currency non-resident bank [FCNR(B)] deposit scheme by extending loans to depositors through their overseas branches, bankers said. This follows the RBI’s decision to allow depositors to borrow from foreign banks for placing FCNR(B) deposits with Indian banks, while permitting Indian banks to issue letters of credit (LoCs) to support such borrowings. “It remains unclear whether the guidelines permit overseas branches of Indian banks to provide leverage to their own customers. The current rules do not explicitly address that scenario, and further clarification is needed,” said a senior executive at a large private-sector bank.
Honeywell on Thursday said it is targeting deals valued at $2 billion to $4 billion and sees scope for acquisitions in its industrial automation business. "There is a ton of opportunity for M&A,” said Peter Lau, president of Honeywell’s Industrial Automation unit during the company's investor day in New York, adding the business operates in a roughly $35 billion market. Lau cautioned that organic growth remains a priority, however, describing the business as “way underpenetrated” in solutions and software.
A set of latest changes to the rules framed by the Insolvency and Bankruptcy Board of India (IBBI) has put additional checks and balances on the actions of the committee of creditors (CoC) involved in the resolution process of bankrupt entities. Under the revised framework, notified through IBBI (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations 2026, the CoC will now be required to provide stronger justification for key decisions taken during the resolution process. For example, the lenders will not only have to consider fair and liquidation values while evaluating bids but also undertake a mandatory market discovery exercise, including a challenge mechanism, which was previously optional in many cases. The changes suggest a shift from the long-standing principle that the CoC’s commercial wisdom is beyond judicial review. Experts argue that the amendments introduce additional safeguards on lenders’ decision-making to ensure greater transparency and value maximisation.
Tata Consultancy Services on Friday launched India's first Oracle AI Data Platform Lab and Centre of Excellence (CoE) here to help enterprises accelerate adoption of artificial intelligence and data-driven transformation. The facility at Delta Park Lords in Kolkata has been set up in collaboration with Oracle and will support customers in addressing challenges such as fragmented data systems, slow analytics cycles, limited AI scalability and operational inefficiencies, the IT major said. Driving AI-Powered Data Transformation TCS said the lab will leverage Oracle AI Data Platform, which combines Oracle Cloud Infrastructure, Oracle Autonomous AI Database and OCI Enterprise AI, to help organisations make enterprise data AI-ready and deploy AI-powered applications and automation at scale. The IT services major also plans to establish similar Oracle AI Data Platform Labs and Centres of Excellence in four more Indian cities over the next three years, a statement said.
L&T Technology Services has entered a strategic partnership with Databricks to co-develop artificial intelligence solutions for asset-intensive industries, the company announced via a filing with the exchanges. What is the LTTS-Databricks partnership about? The collaboration sits within LTTS’ Sustainability segment, which covers Process Engineering, Discrete Manufacturing and Industrial Products. The immediate client targets are companies in energy, petrochemicals and industrials, the filing noted.
Tata Power expects the rapid expansion of artificial intelligence (AI), data centres and rising need for cooling these to drive a sharp increase in electricity demand in India over the coming years. “Due to the rapid growth of data centres, advanced economies saw a resurgence in electricity demand growth for the first time in nearly a decade,” said Tata Group chairman N. Chandrasekaran in Tata Power’s FY26 Integrated Annual Report.
Deeper cooperation in hydrocarbons could play a key role in helping India and the United States achieve their goal of expanding bilateral trade to $500 billion by 2030, according to a report released by the US-India Business Council (USIBC) and Grant Thornton Bharat. The report, titled Strengthening the India-US Energy Partnership: Unlocking Hydrocarbon Opportunities through Investment and Collaboration, said the two countries' energy relationship is evolving beyond a traditional buyer-seller dynamic into a broader traditional buyer-seller dynamic into a broader strategic partnership encompassing trade, investment, technology, infrastructure and energy security.
Commerce and industry minister Piyush Goyal on Thursday said countries around the world are increasingly protecting their domestic industries, including in sectors such as steel, but India continues to navigate global trade challenges through dialogue, cooperation and trade partnerships. Speaking at the India Global Innovation Connect, he said such measures are part of global trade realities and are not unique to India.
India must expand its international engagement to realise its vision of becoming a USD 30 trillion economy by 2047, according to Union Minister of Commerce and Industry Piyush Goyal. Speaking at the closing session of the 5th Annual Meeting of the India Global Innovation Connect, the Minister emphasised that India's economic growth is not a zero-sum game. Instead, he argued that the country's trajectory is deeply linked to fostering strategic partnerships with developed nations, which stand to complement rather than compete with Indian industry.
India is preparing for a wider-than-expected budget deficit this year, Bloomberg News reported on Friday, citing an official familiar with the matter, as the war in Iran drives up energy subsidy costs and adds pressure on government finances. Reuters could not immediately verify the report and has sought comment from India's finance ministry. Authorities are willing to let the deficit widen by as much as half a percentage point to 4.8% of gross domestic product compared with the 4.3% goal set in February, the report said.
As India sharpens its focus on becoming a developed nation by 2047, the 11th Governing Council meeting of NITI Aayog on Thursday turned into a showcase of the diverse ambitions and development blueprints of states, with chief ministers presenting roadmaps centred on human capital, technology, infrastructure and inclusive growth. Chaired by Prime Minister Narendra Modi, the meeting revolved around the theme of “Inclusive Human Development for Viksit Bharat @2047”, with states outlining strategies tailored to their strengths while aligning with the national vision.
The government may reassess the fertiliser subsidy budget for the current fiscal year following a softening of urea prices in the latest tender floated for soil nutrient imports, Aparna S Sharma, Additional Secretary, Department of Fertilisers, said on Thursday. “Whatever is indicated (the lower price bid in the urea tender) is based on preliminary estimates. “Presuming that trends remain the same, there is a definite case to reassess the fertiliser subsidy depending on the confirmation of the quantities to be imported,” Sharma said.
The World Bank has marginally raised its growth forecast for India to 6.6% for FY27 from 6.5% projected earlier, citing resilient domestic demand, even as it lowered its global growth outlook for 2026 to 2.5% amid escalating conflict in West Asia. In its June 2026 Global Economic Prospects report, the multilateral lender also revised upward its FY28 growth estimate for India by 0.6 percentage point to 7.2%. “Despite heightened uncertainty related to the conflict, economic activity in India remained robust early this year, supported by resilient domestic demand,” the World Bank said, adding that private consumption, particularly in rural areas, has remained strong, while urban demand is showing signs of recovery. The Bank noted that collections from domestic sales taxes have continued to rise steadily. To contain inflationary pressures stemming from higher energy costs and shortages of agricultural inputs, especially fertilisers, India has undertaken several measures, including reductions in fuel taxes.
India is currently witnessing a massive surge in its data centre buildout wave. Installed capacity has already tripled in five years. And if you thought that was incredible, there is an even bigger wave ahead. Committed investment for Data Centres has already crossed US$156 billion. Three of the world’s biggest tech companies Microsoft, Amazon and Google have together pledged $67.5 billion to build here. Most recently, Robin Khuda’s Air Trunk announced an investment of $30 billion into building data centres in India.
U.S. producer prices increased more than expected in May, leading to the largest annual gain in 3-1/2 years as the Middle East conflict boosted the cost of energy products, providing more evidence that inflation pressures were building up. The report from the Labor Department on Thursday and continued labor market resilience amid relatively low layoffs reinforced economists' expectations that the Federal Reserve would keep interest rates unchanged into 2027 and for the Federal Open Market Committee to ditch its easing bias at next week's policy meeting.
Bangladesh unveiled a 9.38 trillion taka ($77 billion) national budget on Thursday, targeting 6.5% economic growth and 7.5% inflation as the government seeks to revive an economy strained by high prices, weak investment and financial sector fragility. The budget, for the fiscal year beginning in July, marks a political and economic turning point after the ouster of former prime minister Sheikh Hasina in 2024.
The International Monetary Fund cut its growth forecast for the euro zone on Thursday and raised its expectation for inflation because of the U.S.-Israeli war on Iran, adding that the economic situation could worsen if high energy prices persisted. In its regular report on the economy of the 21 countries that share the euro currency, the IMF said economic growth this year would be 0.9%, down from 1.1% forecast in April while inflation would be 2.8%, up from 2.6% forecast in April.
Argentina recorded slower inflation in May for the second month in a row, below analyst forecasts, even as the 12-month figure increased, data from national statistics agency INDEC showed on Thursday. May's inflation rate of 2.1% was down from 2.6% registered in April and came slightly under analyst expectations of 2.3%.
New Zealand's manufacturing activity contracted slightly in May, slipping back into negative territory after seven months of expansion, as businesses remained concerned about weak demand and global economic pressures. The Bank of New Zealand-Business NZ's seasonally adjusted Performance of Manufacturing Index fell to 49.9 in May from 50.4 in April and 52.8 in March.
Japan's core consumer inflation likely held steady in May at roughly the previous month's pace due to end of government fuel subsidies, leaving inflation below the Bank of Japan's 2% target for a fourth month, a Reuters poll showed on Friday. Here are a few details: • The nationwide core consumer price index (CPI), which includes energy items but excludes fresh food prices, is expected to have risen 1.4% in May from a year earlier, according to a poll of 16 economists, unchanged from April when it marked the slowest increase since March 2022.
German inflation eased slightly to 2.7% in May, the federal statistics office said on Friday, confirming preliminary data. Inflation, or the gain in consumer prices harmonised to compare with other European Union countries, stood at 2.9% year-on-year in April.
Britain's economy contracted by 0.1% in April, its first monthly drop since August as the Iran war's cancellation of Formula 1 Grand Prix races and other Gulf sporting events delivered a blow to the British entertainment industry. Friday's data from the Office for National Statistics (ONS) showed the first clear signs of an impact from the U.S.-Israeli war on Iran in terms of British economic growth.
Consumer prices in France rose 2.8% year-on-year in May, the highest level since February 2024, statistics office INSEE said on Friday, confirming a preliminary reading published last month. The EU-harmonised inflation rate in the bloc's second biggest economy continued accelerating in May, after a 2.5% increase in April.
Inside a new Bangladeshi glass factory with a production floor nearly twice the size of a soccer field, machinery sits wrapped in tarpaulins. At a neighboring steel mill, construction has slowed and production has yet to begin. The facilities, at a sprawling complex near Dhaka, were supposed to symbolize Bangladesh’s economic boom and shift to heavy industry, all built on plentiful liquefied natural gas. Instead, they’ve become a stark illustration of how a shortage of energy is threatening the country’s growth, just as a new democratically elected government led by Prime Minister Tarique Rahman tries to turn the country’s fortunes around.
Finance Minister Nirmala Sitharaman on Thursday said India is expected to remain one of the world’s fastest-growing major economies, with GDP growth projected at around 7% over the medium term, while cautioning that the responsibility for correcting global economic imbalances should not fall disproportionately on developing nations. Addressing the Global Convergence for Growth Summit virtually, chaired by French President Emmanuel Macron, Sitharaman joined leaders from G7 nations and major emerging economies to discuss measures to support balanced global growth through a more effective international economic framework.
Government plans to raise the issue of the US decision to impose a 100% duty on patented drug imports from India, seeking tariff parity to safeguard the interests of domestic manufacturers. The matter is expected to figure during the trade negotiations with Washington, with New Delhi seeking tariff concessions in line with the UK and countries in the European Union, following industry representation, sources told TOI. The tariffs announced in April, following the Section 232 probe, could place domestic companies exporting innovator drugs at a sharp disadvantage compared with the UK and EU countries, which enjoy concessional tariff rates of 15-20%, they added. Industry experts said these duties threaten the viability of India's drug exports and future investments in the CRDMO (Contract Research, Development, and Manufacturing Organisation) sector. The tariffs are expected to be implemented in phases beginning July this year.
Giving a push to cleaner non-fossil energy, ministry of new and renewable energy (MNRE) has officially launched operational guidelines for setting up small hydropower projects of up to 25 MW capacity over the next five years, with a financial outlay of nearly Rs 2,585 crore. It has also launched a dedicated portal to enhance transparency and efficiency in implementation of the programme The scheme aims to support the installation of around 1,500 MW of small hydropower capacity across the country, with special emphasis on hilly and northeastern states.
The Centre on Wednesday decided to extend anti-dumping duty on aluminium foil imported from China, Malaysia, Thailand, and Indonesia till December 15, 2026. Several companies, including Hindalco Industries and SRF Altech, had requested this measure. The Ministry of Finance through a notification amended Notification No. 51/2021-Customs (ADD) dated September 16, 2021, inserting a new provision stating that, notwithstanding anything contained in the earlier notification, the anti-dumping duty will continue to remain in force up to and including December 15, 2026.
The Indian textile sector is entering a phase of recovery and renewed optimism as the uncertainty surrounding US tariffs recedes and global demand begins to improve, according to a report by Dolat Capital. The report, said that the "worst is behind" for the sector and highlighted improving industry fundamentals, better demand visibility and favourable policy developments. "The sector, in our opinion, is now entering a phase of renewed optimism, supported by the resolution of US tariff-related uncertainties, improving demand visibility, and a series of strategic Free Trade Agreements (FTAs) that are strengthening India's position in global sourcing chains," the report said.
A UAE real estate magnate close to Donald Trump is pumping billions of dollars into data centres, hoping to cash in on the AI boom and become the global leader in the field. DAMAC Properties chairman Hussain Sajwani, who attended the US president's 2025 inauguration and is second on Forbes' Arab rich-list, sees "huge" potential in data as demand for computing power soars. Sajwani, whose Instagram feed pictures him with the likes of Trump, Elon Musk and Jeff Bezos, rode Dubai's real estate rollercoaster to amass a net worth of $15.3 billion, according to Forbes.
India has identified more than 102 GWp of floating solar potential across reservoirs and water bodies, opening up a new frontier in the country’s clean energy expansion and taking the nation’s total assessed solar potential to 3,445 GWp, Union renewable energy minister Pralhad Joshi said on Wednesday. The assessment, released by the National Institute of Solar Energy (NISE), comes as India rapidly scales up renewable energy capacity and seeks new avenues to sustain growth after emerging as one of the world’s largest solar markets. The government is now working on a dedicated scheme for floating solar projects, signalling a policy push towards reservoir-based renewable energy development. The report estimates India’s floating solar photovoltaic (FSPV) potential at 102.18 GWp, based on utilisation of up to 20% of suitable waterbody area across the country.
Zoho Corp on Wednesday launched Nathu La, a server platform designed in India, which makes it one of the few domestic technology companies to build a homegrown server architecture leading to reduced infrastructure costs and greater control over AI workloads. Built over five years by Zoho’s hardware engineering team in Nagpur, this is the company’s first bet towards entering hardware and is expected to reduce total cost of ownership by 20-30% and lower power consumption by 12-18%. The Chennai headquartered company has already deployed nearly 1,000 Nathu La servers in production and pre-production environments as part of its India data centres by year-end. For Zoho, which operates 20 data centres globally and runs its software stack on its own infrastructure rather than public cloud providers, the move depicts a fragment of its larger strategy to own every layer of technology, from hardware and data centres to software applications and artificial intelligence models.
As Reliance Jio moves closer to a long-awaited public listing, investors are taking a fresh look at a telecom sector that appears markedly different from the one shaped by tariff wars, mounting debt and regulatory disputes over the past decade. The reassessment comes amid a series of developments that have improved visibility on the sector’s long-term economics. The government’s recent relief package for Vodafone Idea, coupled with the Bombay High Court’s decision to strike down a long-running one-time spectrum charge dispute, has strengthened expectations that many of the legacy overhangs that weighed on telecom valuations are gradually easing. Together with rising tariffs, improving average revenue per user (Arpu) and a more predictable spectrum auction framework, the changes are altering the investment case for the industry.
India, which ranks as the world’s third-largest importer and consumer of oil, announced on Wednesday that it has removed the excise duty on petrol blended with higher proportions of ethanol. Under the new policy, petrol containing between 22% and 30% ethanol will no longer be subject to excise tax, according to an official notification. The tax exemption applies to E22, E25, E27 and E30 petrol blends, which contain different amounts of ethanol mixed with petrol. According to the Finance Ministry, these fuels consist of 78%, 75%, 73% and 70% petrol, with the remaining 22%, 25%, 27% and 30% containing ethanol, respectively. The news does not just put oil marketing stocks in spotlight. In fact, the development will directly put the focus on stocks linked to the Ethanol Blended Petrol (EBP) program. These include a host of sugar manufacturers that are looking to pivot to green fuel. Balrampur and Dhampur Chini are up well over 2% each after opening with 4 per cent plus gains. Biofuel manufacturer Praj Industries also opened higher but has now given up the gains intra-day.
OPEC oil output in May hit its lowest in more than two decades, a Reuters survey found, as a U.S. naval blockade cut Iran's exports and Iran's effective closure of the Strait of Hormuz slashed exports by other Gulf producers. Output by the 11-member Organization of the Petroleum Exporting Countries fell by 1.06 million barrels per day month-on-month to 16.13 million bpd, the survey found. That was the lowest monthly figure since at least 2000, according to Reuters surveys, and well below the levels seen during the COVID-19 pandemic in 2020 when demand collapsed.
The Middle East conflict has already removed 1 billion barrels of crude oil from global markets in just three months — equivalent to nearly two-and-a-half times the entire US Strategic Petroleum Reserve — with cumulative losses projected to approach 2 billion barrels by the end of the year even under a relatively optimistic recovery scenario, according to Rystad Energy. The disruption has shut in 11.8 million barrels per day (bpd) of production across six Gulf producers, making it the most severe oil supply disruption of the modern era, the consultancy said, warning that every additional month of conflict could erase another 350 million barrels from global supply. “Cumulative losses have now reached 1 billion barrels and are on track to nearly double by year-end under our base case,” said Aditya Saraswat, MENA Research Director at Rystad Energy.
U.S. access to critical minerals from China remains difficult due to export controls and licensing delays, a U.S. business lobby said on Wednesday, with Beijing's restrictions driving three-quarters of impacted companies to search for new supplies. Introduced in April 2025 in retaliation for U.S. President Donald Trump's tariffs, Beijing's controls tightly restrict exports of certain rare earths crucial for advanced manufacturing. That's despite Trump's deal with China's Xi Jinping in October in which the White House said China committed to "effectively eliminate" all current and proposed critical mineral export controls.
Chinese electric vehicle maker BYD is looking to take over an existing factory in southern Europe for its second assembly plant on the continent, with Spain among the countries on its shortlist, a top executive said on Wednesday. "We would prefer to take over an existing plant," executive vice president Stella Li told reporters in Berlin during the European launch of the Dolphin G, a small electric car. She did not say which other European countries are on BYD's shortlist, or when a decision on a location was expected.
The European Central Bank is all but certain to raise interest rates on Thursday in the hope of nipping higher inflation in the bud before a surge in energy costs triggered by the Iran war spreads more broadly across the euro zone economy. The well-telegraphed move would come as inflation in the 21-country currency bloc is already above 3%, well in excess of the ECB's 2% target, and economic growth is very weak - a backdrop that has economists split over the case for tighter policy. ECB policymakers, some of whom had already pushed for action in April, are nonetheless expected to press ahead, seeking to keep a lid on inflation expectations and to safeguard their credibility after being slow to react to a post-pandemic inflation spike in 2022.
Barely a week after Nvidia-backed chipmaker Coherent warned of a shortage of indium phosphide in an earnings call in early May, its CEO Jim Anderson was on a plane with a U.S. business delegation accompanying President Donald Trump on his trip to China. Anderson's visit was partly to raise the issue of delays in China's export licenses involving the highly strategic material, essential in manufacturing high-speed optical chips for AI data centres, said three sources familiar with the matter. The issue was also discussed during talks in Seoul between top trade negotiators of the two countries ahead of Trump's May 14-15 summit with China's President Xi Jinping, according to two U.S. government officials and a person briefed on the talks.
As global investors gravitate towards markets, such as South Korea and Taiwan, Indian equities have slipped down the pecking order. The gloom around India is more about relative growth than absolute growth, says Ridham Desai, managing director and chief equity strategist India, Morgan Stanley. In an interview with Samie Modak and Sundar Sethuraman/Business Standard in Mumbai ahead of the Morgan Stanley India Investment Forum 2026, Desai argues that investor positioning has turned excessively bearish.
Foreign investors pulled nearly $27 billion net from emerging market portfolios in May, partially reversing a rebound in April as equity selling in Asia overwhelmed debt inflows, data from a banking trade group showed on Wednesday. Non-resident investors withdrew a net $26.6 billion from emerging bonds and stocks in May, according to the Institute of International Finance, compared with inflows of $70.6 billion in April. The reversal was driven almost entirely by equities - foreign investors pulled $37.0 billion from EM stocks during the month. Debt markets attracted a net $10.4 billion. “The month-to-month swing was large, at $97.2 bln, and shows that April's reopening did not become a straight-line normalization in capital flows,” said Jonathan Fortun, senior economist at the IIF.
The mutual fund SIP stoppage ratio has dropped to 95% in May against a stoppage ratio of over 100% for two consecutive months. In April, the SIP stoppage ratio was 101.14% whereas in March was 101.06%. The latest reading indicates that more mutual fund SIPs were registered than those stopped or whose tenures ended. The number of SIPs discontinued/ tenure completed in May were recorded at 51.70 lakh whereas the number of new SIPs registered in the same period stood at 54.16 lakh. In April, 51.29 lakh SIPs were discontinued or completed their tenure, and 50.71 lakh new SIPs were registered.
The rapid expansion of artificial intelligence is reshaping global credit markets as technology companies seek new ways to fund massive investments in data centers, chips and computing infrastructure. Morgan Stanley expects AI-related global debt issuance to more than double and reach nearly $570 billion in 2026, reported Reuters. The investment bank estimates that AI-related debt issuance had already reached nearly $236 billion by May 31, 2026, reported Reuters. That figure is about four times higher than the amount recorded during the same period a year earlier. Major technology companies have traditionally relied on strong cash flows to fund growth. However, the scale of investment required for artificial intelligence is pushing many firms to seek additional funding through debt markets.
The asset quality of Indian banks is expected to further improve over the next year, providing cushion against pressure on margins, liquidity and credit growth arising from geopolitical tensions and broader macroeconomic uncertainties. According to consensus estimates compiled by S&P Global Market Intelligence, the gross non-performing asset (NPA) ratio of State Bank of India is seen declining to 0.92% by March 2027 from 0.96% at the end of FY26. HDFC Bank‘s bad loan ratio is projected to improve to 0.76% from 0.78%. The report attributed the betterment to moderating stress in unsecured retail segments such as personal loans, credit cards and microfinance.
A day after the Reserve Bank of India (RBI) released the final contours of its foreign currency non-resident bank [FCNR(B)] deposit scheme, banks have started offering rates ranging from 5% to over 7%. The higher returns reflect the central bank’s decision to exempt incremental FCNR(B) deposits from cash reserve ratio (CRR) and statutory liquidity ratio (SLR) requirements, experts said. State Bank of India has launched a special deposit scheme, SBI Advantage FCNR(B), with a one-year lock-in period, offering interest rates of 5.25-6% in the three- to five-year maturity bucket. HDFC Bank and Central Bank of India are offering up to 6% on longer-tenor FCNR(B) deposits, while YES Bank and AU Small Finance Bank are offering as much as 7.1% on five-year deposits. CSB Bank is offering 7.05% on FCNR(B) deposits. The revised rates came into effect on June 10.
REC has secured the approval from the Ministry of Power to merge with Power Finance Corporation (PFC). This marks a significant step in the consolidation of the two state-owned power sector financiers. In a regulatory filing the company said, “The Ministry of Power, vide its letter dated June 10, 2026, has conveyed the approval of the Competent Authority in respect of the aforesaid proposal.” Earlier on May 16, the company informed exchanges that its Board of Directors had authorised the company’s Chairman and Managing Director (CMD) to seek approval from the President of India for the proposed merger under Sections 230-232 of the Companies Act, 2013.
The Reserve Bank has issued final amendment directions permitting commercial banks to lend to Real Estate Investment Trusts and InvITs, while retaining key prudential safeguards on exposure limits, asset quality, and repayment structures. The final directions were issued after incorporating feedback received from stakeholders on the draft norms. Major changes and conditions Among major changes, the Reserve Bank of India (RBI) said overseas branches of Indian banks may participate in Real Estate Investment Trusts (REITs) financing under syndication arrangements, subject to a 20 percent cap on contribution and a 150 percent risk weight.
India attracted cumulative Foreign Direct Investment (FDI) inflows of USD 843 billion between 2014-15 and 2025-26, registering a 169 per cent increase over the preceding 12-year period, a commerce and industry ministry official said on Wednesday. Despite global economic uncertainties, the country recorded a historic USD 94.53 billion FDI in 2025-26, with over 90 per cent of equity inflows coming through the automatic route, said Sumeet Jarangal, joint secretary in the department for promotion of industry and internal trade (DPIIT). He highlighted that flagship initiatives such as Make in India and the Production Linked Incentive (PLI) Scheme have translated investments into manufacturing strength.
India's total outward foreign direct investment commitments declined 49.02 per cent month-on-month to USD 4.49 billion in May 2026 from USD 8.84 billion, mainly due to lower equity investments, loans, and guarantees issued by Indian companies, according to RBI data. However, total financial commitments by Indian entities under overseas investment increased 34.6 per cent year-on-year in May 2026 from USD 3.34 billion, data showed. Equity investments abroad dropped sharply to USD 1,247.82 million in May from USD 3,537.35 million in April, marking a decline of about 64.72 per cent.
Corporate India may soon find it more difficult to float shell companies or maintain existing incorporated structures that serve little purpose other than tax evasion, money laundering or hiding ownership. In some cases, corporate groups could also face an increased compliance burden even to maintain legitimate structures like holding companies. According to official sources, the government is set to widen the grounds on which a company could be stricken off from the official register. The Corporate Laws (Amendment) Bill, 2026 would inter alia seek to empower the Registrar of Companies to dissolve a company if it hasn’t conducted any “significant accounting transactions” for three years. Non-filing of annual returns and financial statements for two consecutive years could also lead to removal of a firm from the register.
Reference is invited to the GSTN Advisory dated 20.05.2026, wherein it was informed that the following functionalities would be implemented in the E-Way Bill system with effect from 15th June, 2026: 1. Mandatory capture of "Ship To GSTIN" in Bill-To/Ship-To transactions; and 2. Voluntary Closure of E-Way Bill functionality. Representations have been received from trade and industry seeking extension of the implementation timeline, citing the requirement of system changes, testing, API/ERP readiness and master data updation across the taxpayer ecosystem. In view of the above, and to facilitate smooth transition and adequate preparedness by taxpayers, GSPs, ERP providers and other stakeholders, it has been decided to extend the implementation timeline for both the above functionalities.
Can a taxpayer face a hefty tax demand merely because her name appears on a property purchase agreement, even though the entire payment was made by someone else? In a recent ruling by the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) in the case of Sanjeevani Sanjay Rane vs ACIT (ITA No. 7361/Mum/2025) for Assessment Year 2017-18, the tribunal deleted additions of Rs 54.93 lakh made by the tax department after finding that the entire investment in the property had been made by the taxpayer’s husband and that the source of funds was adequately explained. How the dispute began The case relates to a residential property purchased during FY 2016-17 for Rs 52.81 lakh. According to the taxpayer, her name was included in the registered agreement only as a family member for convenience, while the entire consideration for the property was paid by her husband, Sanjay Rane.
Hindustan Zinc has signed a Memorandum of Understanding (MoU) with Sulfozyme Agro India under its flagship Zinc Industrial Park initiative at Khankhala in Rajasthan’s Bhilwara district. The partnership aims to strengthen India’s downstream zinc sector through sustainable metal recovery, resource efficiency, and innovation-led industrial development.
Meta Platforms has expanded its renewable energy partnership with Clean Max Enviro Energy Solutions Ltd beyond 900 MW, backing 837 MW of new solar and wind capacity across Rajasthan and Karnataka in one of the largest clean energy procurement deals by a global technology company in India. The announcement comes amid rapidly rising electricity demand from digital infrastructure and artificial intelligence applications, with technology firms emerging as major drivers of renewable energy investments globally.
Electric vehicle company Omega Seiki Mobility (OSM) has partnered with Honda Power Pack Energy India, a subsidiary of Honda Motor Co., to develop swappable battery technology. Honda Power plans to establish 250 battery swapping stations in Bengaluru, 150 in Delhi, and 100 in Mumbai, aiming to create the largest battery swapping network in these cities. OSM’s cargo electric three-wheelers, the Rage+, will now use the Honda e:Swap battery ecosystem. Uday Narang, founder of OSM, said they were not just into the production of electric vehicles but also wanted to make electric mobility more practical, profitable, and convenient for those who rely on these vehicles for their livelihoods.
US-based IT services firm Cognizant expects an AI-driven system that analyses employee and customer interactions to generate as much as $1 billion in incremental business pipeline by the end of this year, after already creating about $200 million in opportunities. Speaking at the company’s AI forum last week, CEO Ravi Kumar S said the initiative, built around what Cognizant calls “context engineering”, mines emails, meetings, chats, contracts and other enterprise data to uncover potential sales opportunities that would otherwise remain scattered across the organisation.
The big news at this hour – TCS and Anthropic have launched Global Premier Partnership to drive Enterprise AI scaling. The IT sector major, Tata Consultancy Services (TCS), is partnering Anthropic, the artificial intelligence company behind Claude, to help enterprises scale AI adoption across industries. TCS in its regulatory filing said, “TCS will setup a dedicated Business Unit focused on delivering strong customer value propositions, joint industry solutions and deep AI expertise on the Claude family of models through early access to Claude models.”
India's GDP is likely to grow at 6.6 per cent in the current fiscal as compared to 7.7 per cent in FY26, on weaker investments and consumption growth and trade shocks from the West Asia crisis, BMI, a Fitch group company, said. According to government data released last week, GDP growth in FY26 accelerated to 7.7 per cent from 7.1 per cent in FY25, supported by healthy consumption and robust investment activity.
Private sector investment is showing signs of revival, with companies increasingly borrowing for expansion and infrastructure projects, Punjab National Bank (PNB) Chairman and Managing Director (CMD) Ashok Chandra said, stressing that the private sector has started "reposing faith" in the economy. In an exclusive interview with ANI, Chandra said the PNB has witnessed a sharp rise in corporate loan sanctions over the past year, indicating growing investment activity across multiple sectors.
With state-run oil marketing companies (OMCs) losing an estimated ₹690 on every domestic LPG cylinder sold — translating into nearly ₹1.38 lakh crore annually — the Centre has launched a nationwide push to shift households from LPG to piped natural gas (PNG) in areas where city gas infrastructure is already available. In a letter to chief secretaries of all states and union territories, Petroleum Secretary Neeraj Mittal said recent developments in the Strait of Hormuz region have necessitated accelerated measures to reduce dependence on LPG and promote PNG as an alternative cooking fuel.
The National Capital Region (NCR) is set for a major urban transformation under the proposed Regional Plan 2041, which seeks to develop up to eight new smart townships and establish a high-speed transport network that would allow commuters to travel between Delhi and major NCR cities within 30 minutes. The plan, which is expected to be taken up for adoption by the NCR Planning Board (NCRPB) at its meeting on June 16, has been circulated among participating states. It outlines a long-term strategy to accommodate rapid population growth, reduce pressure on Delhi, and improve connectivity across the region through integrated urban development and modern transport infrastructure.
Germany's economy is likely to slip into a technical recession this year as an energy price shock triggered by the war in Iran derails a fragile recovery, the DIW economic institute said on Wednesday, cutting its 2026 growth forecast in half. DIW Berlin now expects Europe's largest economy to grow by 0.5% this year and 0.8% in 2027, around half a percentage point lower than forecast in spring.
Italian industrial output unexpectedly rose in April from the previous month, data showed on Wednesday, posting a 0.5% increase that marked the third gain in a row for a manufacturing sector showing signs of emerging from a long-runnng slump. Industrial output rose 0.6% rise in March, amid surging energy costs following U.S. and Israeli strikes on Iran that began at the end of February.
Russian President Vladimir Putin told top officials on Wednesday that there are grounds to expect a cut in the central bank's key interest rate when it meets next week, and praised the monetary policy of central bank chief Elvira Nabiullina, who was absent from the meeting due to illness. Nabiullina has cancelled two public appearances in the past week, including at the St Petersburg International Economic Forum, Russia’s biggest business conference, often dubbed the “Russian Davos.”
Mexico's financial system remains solid and can handle adverse situations, the central bank said on Wednesday, while highlighting geopolitical conflicts as issues to monitor. Risks in the system have increased marginally since the prior stability report published in December, it said, although the system has strong capital and liquidity levels and would be able to withstand shocks.
Japanese business sentiment soured in April-June for the first time in four quarters, a government survey showed on Thursday, a sign of growing economic pain from the Middle East conflict. An index measuring big companies' sentiment fell to -0.5% point in the second quarter following a reading of +4.4 points in January-March, the survey showed.
The United States has become the world's largest oil exporter, upending a decades-old order long dominated by Saudi Arabia and Russia, a shift that tightens American companies' grip on energy markets as Washington's war with Iran reshapes global energy trade. America's ascendancy to the top spot marks a stunning reversal for a country that was dependent on Middle Eastern oil for decades and suffered from an oil embargo imposed by some OPEC members in 1973 to retaliate against U.S. support for Israel.
The Bureau of Labor Statistics has released the US Consumer Price Index (CPI) data for May, offering insights into how inflationary pressures have moved across food, shelter, and other areas of the economy. The annual inflation rate in the US rose to 4.2% in May 2026, marking its highest level since April 2023, from 3.8% in April and in line with market expectations. This represents the third consecutive monthly acceleration in headline inflation, with energy costs jumping 23.5% vs 17.9% in April, due to the energy shock triggered by the conflict with Iran. Gasoline prices soared 40.5%, after a 28.4% gain.
Chief Economic Advisor V Anantha Nageswaran on Monday said the audit of fund flow to Panchayati Raj Institutions (PRIs) by Comptroller and Auditor General of India (CAG) of Panchayati Raj Institutions will improve their functioning and enhance ease of living at the rural level. "The CAG audit would tell us state by state, function by function, where we actually stand. It would create an evidence base that does not currently exist, and it would create accountability for the gap between constitutional intent and administrative reality," he said here.
The world's largest chipmaker has told the BBC that inflation is pushing up the cost of doing business, and did not rule out price rises. Taiwan Semiconductor Manufacturing Company (TSMC) makes the most advanced chips designed by companies such as Nvidia, AMD and Apple, so any increase in pricing could ripple through to the cost of AI infrastructure, and potentially over time, the prices customers pay for their electronic devices. However, the firm's chief financial officer, Wendell Huang, said it would not introduce sudden "fourfold, fivefold" price rises. "We reflect our value," he said, pointing to its "technology leadership" and "manufacturing excellence".
South Korea's cabinet approved on Tuesday a presidential decree as part of the process to allow $350 billion of strategic investments in the United States to proceed under a trade deal struck between the countries last year. The decree specified some terms and conditions in the investment plan, including the definition of "commercial reasonableness," which will serve as the basis for $200 billion in direct investments in strategic U.S. industries. South Korea also agreed to invest $150 billion in shipbuilding-related cooperation in return for more favourable tariff terms.
China is preparing to spend around 2 trillion yuan ($295.43 billion) over the next five years on building data centers across the country, Bloomberg News reported on Tuesday, as Beijing looks to challenge the U.S. in the intensifying AI race. National Development and Reform Commission is among key government agencies drafting a blueprint to build a network of inter-connected computing hubs across the country, the report said, citing people familiar with the matter. China's new five-year policy blueprint laid out its ambitions to aggressively adopt AI throughout the world's second-biggest economy and dominate emerging technologies such as quantum computing and humanoid robots.
Apollo and Blackstone are financing a $35 billion expansion of AI computing capacity for Anthropic using Broadcom's custom chips and networking solutions as part of a tie-up between the asset managers and the chipmaker. The initial commitment will expand the Claude Code creator's AI computing capacity by one gigawatt, the companies said on Tuesday. One gigawatt is enough to power about 750,000 homes. The capacity is expected to be deployed at Fluidstack-operated sites beginning mid-2026, with the cloud computing company providing the physical data-center infrastructure that will run Anthropic's AI systems.
Wang Chuanfu, chairman of BYD, on Tuesday said he expected the Chinese firm to become the world's largest automaker within five years, as he sought to reassure investors following a steep decline in the company's share price. BYD, which ranked sixth globally in 2025 with 4.6 million vehicles sold, has struggled to restore growth after its domestic sales were hit by intensified competition with local peers over the past year. Shares of the company have dropped more than 45% from their peak in Hong Kong over the past year, while its Shenzhen-listed stock has fallen 33%. Speaking at the company's annual shareholder meeting at its Shenzhen headquarters, Wang addressed nearly 1,000 shareholders, emphasizing a focus on ramping up the output of its second-generation Blade Battery, which he identified as this year's key growth bottleneck, according to the state-owned Shanghai Securities News. The report was confirmed by an attendee at the meeting.
Beijing: China's domestic car demand has declined more sharply than expected at the start of the year and will likely remain under heavy pressure throughout 2026, an auto association executive said on Wednesday. "Stabilizing domestic demand this year should be regarded as a very important task for the automotive industry," said Chen Shihua, deputy secretary-general of the China Association of Automobile Manufacturers (CAAM). China's total vehicle sales dropped 2.1% in May from a year earlier, while sales at home slid 20.4% year on year, CAAM data showed on Wednesday.
The closure of the Strait of Hormuz has removed more than 80 million tonnes per annum (mtpa) of LNG from global markets — equivalent to nearly one-fifth of worldwide supply — creating conditions for a fresh wave of multi-billion-dollar LNG investments outside the Middle East even as energy buyers grapple with unprecedented uncertainty over future gas supplies, according to a new Wood Mackenzie analysis. The report suggests that while the immediate impact has been a sharp tightening of LNG availability and heightened price volatility, the bigger story may be the investment response. More than 150 mtpa of LNG export capacity is already under construction outside the Persian Gulf, predominantly in the United States, while another 30 mtpa is expected to reach final investment decision (FID) by the end of 2027. Under a prolonged disruption scenario, that pipeline could expand further as buyers seek alternatives to Gulf supplies and developers rush to fill the supply gap left by the world’s most important LNG transit corridor.
Life insurers reported 5% year-on-year growth in new business premium (NBP) in May, the slowest monthly expansion in more than eight months, as the impact of the GST rate reduction on premium collections faded after supporting double-digit growth in the preceding months. The industry’s total new business premium stood at ₹32,030.84 crore in May, compared with ₹30,463.21 crore in the same month last year, according to data released by the Life Insurance Council. The slowdown comes a month after life insurers reported their highest monthly growth in NBP in more than two years. In April, the industry’s NBP had risen 39% year-on-year to ₹30,550 crore. According to the May data, state-owned Life Insurance Corporation of India (LIC) reported a 3% growth in NBP to ₹19,042 crore, while the 26-member private life insurance industry posted an 8% increase to ₹12,989 crore. Both LIC and private life insurers had reported strong double-digit growth in recent months after the government exempted individual life insurance products, including term life policies, from GST in September 2025.
Net inflows into equity mutual funds dropped sharply by 40.4% month-on-month in May 2026, reflecting a more cautious investor mood amid heightened market volatility, geopolitical tensions, inflation worries, and pressure on the rupee, according to the latest AMFI monthly data of May 2026. According to AMFI data, net equity fund inflows fell to Rs 22,907.77 crore in May, the lowest level in 12 months, from Rs 38,440.20 crore in April, a decline of Rs 15,532 crore in just one month. The sharp plunge has come after months of strong retail participation and suggests that investors turned more selective amid uncertainty in domestic and global markets. During May, investors had to contend with concerns around rising geopolitical tensions in West Asia, volatility in crude oil prices, inflation risks, fluctuations in the rupee, and sharp swings in equity markets.
India will consider extending import tax exemptions on petrochemicals used for making plastics and pharmaceutical goods beyond June 30 to help local industries, Ravi Teja, deputy director at the Department of Commerce, said on Tuesday. In April, India suspended the import tax on 40 petrochemicals products until June 30.
A key measure of bulk shipping rates dropped for an eighth consecutive day as demand in the larger vessel segments cooled following a multi-month rally that pushed the market to its highest level since late 2023. The Baltic Dry Index fell 3.4% to 2,818 points on Tuesday, marking its longest losing streak since mid-January. The gauge tracks freight rates for Capesize, Panamax and Supramax ships transporting raw materials such as iron ore, coal and grain. “It’s attributed to the recent loss of momentum in the Capesize segment, but we should note that it has still delivered the strongest first half of the year in the past three years,” said Maria Bertzeletou, a senior market analyst at Signal Group.
India's decision to exempt foreigners from taxes on government bonds and broaden access to the debt market is expected to make the country more attractive to overseas investors, catalyse fresh inflows and strengthen its case for inclusion in global indexes. On Friday, policymakers unveiled a wide-ranging set of measures to draw in overseas capital while shoring up the currency and external balances, which have been strained by higher oil prices. They scrapped withholding and capital gains taxes on foreign investments in government bonds, broadened the pool of securities that are available without investment limits and introduced incentives to encourage banks to raise foreign currency deposits from non-resident Indians and for companies to tap overseas borrowings. The slew of measures, rolled out in response to the oil shock that has hit Indian assets, is beginning to lure foreign investors back into an overlooked market against a backdrop of rising global rate volatility.
Electric passenger vehicle retail sales in India grew by 81.2 per cent to 26,682 units in May as compared to 14,725 units in the same month last year, Federation of Automobile Dealers Associations (FADA) said on Tuesday. Tata Motors Passenger Vehicles Ltd continued to lead the pack with 10,340 units sold last month, up 103.42 per cent from 5,083 units in May 2025, FADA said in a statement. Homegrown rival Mahindra & Mahindra followed in the second spot with 6,210 units in May 2026, as against 2,891 units in the year-ago month, up 114.8 per cent, it added.
The piling up of containers and the shortage of trailer drivers at the large West Coast ports have resulted in increasing instances of exporters missing their contracted ships. Turnaround time at ports has risen, inflating costs by up to Rs 25,000-30,000 per container. This compounds exporters’ worries at a time when geopolitical developments have dented market access and intensified competition in key markets. One reason for the container pile-up was the cargo bound for West Asia returning due to the onset of war in the region. Many containers that came back have still not been evacuated back to factories. Unloading of transhipment cargo at Indian ports added to the congestion. Adding to the worries was a sudden shortage of trailer drivers in April-May. The reason for the shortage of drivers was that this is the time when a lot of them head back home for vacation. Adding to the seasonal vacation time shortage of drivers was elections in West Bengal and increase in Liquefied Petroleum Gas (LPG) prices in the open market, industry sources said.
Foreign investors have purchased nearly 10,000 crore of Indian bonds over the past four trading sessions following the government’s decision to fully exempt taxes on gains from eligible debt investments and the central bank decision to expand the investable universe, data published by CCIL showed. Bond yields have cooled in tandem. This marks a significant reversal from the stance taken by foreign investors that had been pulling out from India’s debt and equity markets in the recent months. Since the start of the US-Israel war on Iran, FPIs have net sold over 10,119 crore of debt.
The share of early stage delinquency in microfinance loans rose in April while the sector's overall credit risk eased, data from CRIF high Mark showed. The portfolio at risk (PAR) for the 1-30 day bucket inched up to 0.8% in April from 0.6% a month prior while the ratio for 1-180 days was recorded at 2.5% as compared with 2.6% over the same period. Head of microfinance lenders said that there is no additional stress while the marginal rise in April reflects the usual slack business trend early in the fiscal. "The first quarter is always a difficult quarter for business and the rise in early delinquency is only a reflection of this," Satin Creditcare Network chairman HP Singh told ET. "Till now there is not much uncertainty around macroeconomic conditions and resultant impact on microfinance," he said.
In a move that may possibly be a sign of upcoming measures on gold, the finance ministry has directed bullion-importing banks to furnish detailed information on gold metal loans and loans backed by gold from 2023 onwards. Despite a lower import volume of 721 tonnes compared with the previous year, India's gold import bill rose 24% to a record $71.9 billion in 2025-26. The dozen banks involved in gold imports either borrow gold from international lenders and extend it to jewellers through gold metal loans, or procure the metal from overseas banks under a consignment arrangement, making outright payments based on confirmed demand from domestic wholesale buyers.
A barrage of shares is heading toward investors in India, signalling a pickup in dealmaking at the end of a subdued first half of 2026. About a dozen companies are expected to collectively raise more than 600 billion rupees ($6.3 billion) across initial public offerings, institutional placements and government stake sales in two months, creating one of the busiest periods for equity offerings this year. In another sign of the increase in activity, rapid-commerce company Zepto Ltd. has filed updated paperwork for an IPO that could raise $1 billion. National Stock Exchange of India Ltd. may be close behind with a $2.5 billion filing.
India's sharp increase in gold import tariffs is fuelling a resurgence in smuggling that could exceed 100 metric tons this year, as soaring grey market margins allow smugglers to undercut banks and refiners of the precious metal, industry officials and bullion dealers said. India, the world's biggest gold market after China, more than doubled import tariffs to 15% in May to curb demand, cut the trade deficit and ease pressure on the rupee. But the move has created an opportunity for smugglers who are able to offer prices legitimate importers cannot match, they said. The grey market discount has gone beyond $200 per ounce, or more than 4%, said a Mumbai-based bullion division head at a private gold importing bank, adding that banks were unable to offer even a $10 discount, let alone one of three digits. He declined to be named because he was not authorised to speak to media. The recent resurgence in the grey market suggests illegal imports could exceed 100 tons in 2026, said another dealer who also declined to be identified because he was not authorised to speak to the media.
OPEC+’s latest decision to raise oil production by 188,000 barrels per day (bpd) is unlikely to bring meaningful relief to global markets as the closure of the Strait of Hormuz and Russia’s inability to meet higher production targets undermine the alliance’s efforts to boost supply, according to Rystad Energy. The producer group remains on course to unwind the first tranche of voluntary production cuts by September, but analysts say the market is increasingly facing a gap between announced production targets and actual barrels reaching consumers. The warning comes at a time when energy markets are grappling with one of the biggest supply disruptions in recent years, with the Strait of Hormuz remaining shut and limiting the movement of crude from the Gulf region, a critical source of global oil supplies.
The banking sector expects to attract around $40–50 billion through Foreign Currency Non-Resident (Bank) [FCNR(B)] deposits after the Reserve Bank of India’s measures announced last week to boost foreign currency inflows. According to an SBI Research Ecowrap report, fresh FCNR(B) inflows could reach $40–45 billion under the scheme. “In 2013, when the RBI introduced the FCNR(B) facility, fresh inflows of $24.5 billion were mobilised within three months. This time, the facility window is open for four months, and we believe fresh FCNR(B) deposits could amount to $40–45 billion,” the report said. Outstanding FCNR(B) deposits stood at $33.8 billion at the end of March 2026, compared with $32.8 billion a year earlier. “Banks with a larger overseas presence, such as Bank of Baroda, SBI and HDFC Bank, are naturally better positioned to benefit as they have stronger access to the NRI customer base,” a senior public sector bank official said.
Adani Energy Solutions on Tuesday signed a binding agreement to acquire 100% stake in IntelliSmart Infrastructure Pvt Ltd for ₹3,050 crore, a move that will create India’s largest smart metering platform with a combined portfolio of over 4.7 crore smart meters. The proposed transaction includes acquisition of IntelliSmart’s entire equity share capital and redemption of optionally convertible debentures held by the National Investment and Infrastructure Fund (NIIF). The deal is subject to regulatory and other customary approvals. The acquisition significantly strengthens AESL’s position in India’s fast-growing smart metering market, which is emerging as a key pillar of power distribution reforms and digitalisation of utilities.
Morgan Stanley is closely monitoring merger and acquisition opportunities as US regulators signal a more favourable stance toward bank deals, CEO Ted Pick said on Tuesday. Speaking at the bank’s annual US investor conference, Pick stressed that the Wall Street powerhouse is actively tracking sector developments and stands ready to move swiftly if the right opportunity arises. “M&A in the banking industry is challenging; we want to get it right,” Pick said, adding that Morgan Stanley wants to be “wide awake” to the M&A activity in the sector. A Reuters report said that several major banks have already expressed interest in strategic acquisitions aimed at strengthening their competitive edge, upgrading technology, and expanding into high-growth areas such as wealth management and payments.
The Central Board of Indirect Taxes and Customs (CBIC) is drafting rules to operationalise Section 11A of the CGST Act, a provision that allows the government, on the GST Council's recommendation, to waive tax dues for an industry in exceptional cases, according to two government sources familiar with the matter.
Wanting to do something for the community is nothing new at Larsen & Toubro (L&T). Santosh Kumar Singh, its Chief Sustainability Officer, says the company’s first community health centre was set up in 1967. The number has grown to over ten today. “In the 1990s, the first Construction Skill Training Institute was established. Again, it was in the direction of improving the availability of skilled manpower and making more youth employable in the construction sector,” is how he describes it. It has been recognised as the Most Sustainable Company in Infrastructure in the category of Sectoral Excellence in Manufacturing in this year’s BT India’s Most Sustainable Companies. When there are multiple business verticals, the concept of sustainability evolves and matures over time. Steps taken at a certain point in time tend to produce a much larger impact later. Sustainability reporting started at L&T in 2008, but it was not till a decade later that it moved to integrated reporting. “That’s when financial performance started connecting with the impact on the environment and society,” says Singh. One important moment was in 2021 when the company set a target for both carbon neutrality and water neutrality. “In many cases, what we did was purely voluntary.”
Jio BlackRock Asset Management plans to launch its first exchange-traded funds in India by August, seeking to replicate BlackRock's global success in passive investing in a market where ETFs are still nascent. The joint venture between Mukesh Ambani's Jio Financial Services and the world's largest asset manager has amassed about 180 billion rupees ($1.9 billion) in assets under management in roughly a year since its launch by building a base in cash, debt-index and active equity funds. It plans to start with equity-focused ETF strategies. BlackRock oversees about $5.1 trillion in ETF assets globally, more than a third of its total assets under management, underscoring the importance of the product line to its franchise. Jio BlackRock currently ranks as India's 29th-largest asset manager. "ETFs are a long-term play. While it is a predominantly institutional heavy market (in India), retail are starting to get more involved in ETFs. And we can see from global trends how well ETFs have been adopted as a choice for investing," Sid Swaminathan, managing director and chief executive officer of Jio BlackRock Asset Management, told Reuters.
Tata Consumer Products crossed the ₹20,000 crore revenue milestone in FY26, the company said at its 63rd Annual General Meeting, reporting consolidated revenue of ₹20,290 crore, a 15% increase over the previous year. Net profit rose 20% to ₹1,547 crore, supported by operating leverage, while EBITDA grew 12% to ₹2,815 crore, as reported by ET Now. The company said growth was broad-based across India operations, international businesses, and non-branded segments. Tata Consumer, which has evolved from a tea and coffee business into a diversified multi-category FMCG player, said its growth was driven by both organic and inorganic initiatives.
Vodafone Idea has secured a major legal victory. Bombay High Court quashed demand notices issued by the Department of Telecommunications (DoT) seeking one-time spectrum charges (OTSC) worth Rs 2,113 crore. Vodafone Idea in its regulatory filing said that the court has directed the DoT to return the bank guarantees submitted by the company against the disputed demand. The Bombay High Court on Monday quashed the Centre’s 2012 decision to impose a one-time spectrum charge for spectrum held above 6.2 MHz from 2008 onwards, questioning its source of power to make such a call.
Grasim Industries, the Aditya Birla Group flagship, has announced a second phase of investment in lyocell manufacturing at its Harihar facility in Karnataka, committing Rs 3,094 crore to add 110,000 tonnes per annum of new capacity. The announcement signals the company’s intent to become one of the largest producers of the sustainable fibre globally, and pushes its overall cellulosic staple fibre capacity past the one million tonne mark by the end of the decade. What is being built The Phase II expansion will come up as two production lines of 55,000 TPA each at Harihar. The first line is targeted for commissioning in 2028, with the second following in 2030. This is in addition to Phase I, a 55,000 TPA lyocell plant already under construction at the same site, which is expected to go on stream by mid-2027.
Tata Consultancy Services (TCS), India’s largest IT services company, has indicated that it will no longer hire employees at the scale it once did as artificial intelligence increasingly takes over portions of work traditionally handled by humans. Speaking at the company’s 31st annual general meeting, TCS chairman N. Chandrasekaran said the rise of AI agents is fundamentally changing how the IT industry will operate in the coming years. “The company will not be hiring the kind of numbers that you used to hire,” Chandrasekaran said, signalling a structural shift in workforce planning at the IT giant.
Mukesh Ambani-led Reliance Industries announced a partnership with Meta Platforms for an AI-enabled data centre in Jamnagar, Gujarat. This marks Meta’s first built-to-suit data centre project in India. Under the agreement, Reliance Industries will build the 168 MW data centre and is expected to be completed within two years. The project also includes an option to expand capacity in the future. Meta will lease capacity from the facility to support its global infrastructure, including its growing artificial intelligence (AI) computing requirements. Partnership puts India at forefront of global AI race: Mukesh Ambani Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries, said, “Building India’s first built-to-suit data centre for a global technology leader of Meta’s scale demonstrates India’s readiness to be at the forefront of the global AI revolution.”
India has a strong foundation for economic growth and is expected to maintain robust growth momentum in the coming years despite global uncertainties, said Paul Procee, Operations Manager and Acting Country Director for India at the World Bank. Spea
The Indian economy is facing headwinds from external sectors with rising fuel and fertiliser import bills due to West Asia crisis, but GDP growth momentum remains intact with domestic consumption holding up, government sources said on Tuesday. Sources said the FY27 Budget had taken into cognisance the uncertainties in the global economy around tariffs, and the government do not immediately need to account for additional borrowing or bring in supplementary demands for grants in the upcoming monsoon session of Parliament. On the fiscal deficit front, sources said the budgeted target of 4.3 per cent of GDP is still intact, and the government is actively tapping its non-tax revenue areas like disinvestment and asset monetisation in the current fiscal.
India's exports have witnessed consistent growth in recent years, driven by supportive government policies, improved digital infrastructure, better logistics and trade reforms, a senior commerce ministry official said on Tuesday. Speaking at a regional media interaction organised by the Apparel Export Promotion Council (AEPC) and the Department of Commerce here, Senior Economic Adviser Agrim Kaushal highlighted the government's commitment to making India a global leader in the textiles and apparel sector. He referred to the Prime Minister's "5F vision" - "Farm to Fibre, Fibre to Factory, Factory to Fashion, and Fashion to Foreign" -- as a key framework guiding the sector's growth.
The government plans to push ahead with reforms, including further measures to boost foreign investment, speeding up divestment and asset monetisation, as it seeks to preserve India's growth momentum in the face of rising fuel and fertiliser import costs triggered by the West Asia crisis, government sources said on Tuesday. They said that the country's GDP growth momentum remains intact, with domestic consumption holding up. "Growth is not under stress, but there are external challenges... Quarter after quarter, growth is showing momentum. Domestic economy is doing good, consumptions are not coming down...," the sources said.
The Centre has already mobilised close to Rs 20,000 crore through stake sales and asset monetisation in the first two months of the current financial year, as it looks to shore up revenues amid growing concerns over the fiscal impact of the conflict in West Asia, according to a TOI report. The amount raised so far accounts for roughly a quarter of the government's full-year target, reflecting a renewed push to generate non-tax revenues at a time when spending pressures are mounting. The urgency stems largely from rising energy and fertiliser costs.
Although the southwest monsoon is advancing up the west coast and interior peninsula, the prospect of El Niño-induced below-normal rainfall doesn’t augur well for the countryside and economy. The uneven spatial and temporal spread of rains will hit cultivation of kharif crops like paddy, coarse cereals, pulses, and soya bean among others. Lower rains that are 90% below the long period average (LPA) of 868.6 mm usually entail drought conditions. As if on cue, the Union ministry of agriculture and farmers’ welfare has already lowered the food grain production target for FY27. These prospects threaten the growth momentum of the agricultural sector that expanded by 4.1% per annum during the five years till FY26 due to a run of normal and above-normal monsoons, barring FY24.
Even as the country is said to witness a “balance of payments stress test” in the current fiscal year due to rising energy import bill, subdued exports and an unusually weak capital account, data revealed by the Reserve Bank of India (RBI) on Monday showed a surprise current account surplus in the fourth quarter of 2025-26. This resulted in a benign current account deficit (CAD) of 0.6% of the gross domestic product (GDP) in FY26, the same level as the year before, as against around 1% expected by many analysts. The Q4FY26 current account surplus reached $7.1 billion (0.7% of GDP) despite an $83.4 billion merchandise trade deficit. This surplus was supported by solid net services receipts of $60.4 billion and remittances of $43.5 billion.
India’s economic growth is expected to moderate in FY27 after accelerating to 7.7% in FY26. According to economists at Elara Capital, the improvement in FY26 was a cyclical recovery in demand rather than a structural shift in the economy. Motilal Oswal expect the FY27 growth to slow to 6.5% broadly in line with the Reserve Bank of India’s (RBI) revised estimate of 6.6%. The economists note that FY27 is facing headwinds since the beginning of the fiscal year unlike in FY26 where growth remained strong through most of FY26 and peaked at 8.3% in Q2 FY26 before moderating slightly in Q4 FY26.
Fitch Ratings has lowered its GDP growth projections for India amid the US-Israeli war against Iran. The credit rating agency estimates that the ongoing conflict will slow the economy in the September and December quarters. Fitch also projected 6.4% growth in the current fiscal — down from an earlier estimate of 6.7% in its June Global Economic Outlook. “We expect GDP growth to ease to 6.4% in FY27, a downward revision of 0.3pp from March. Domestic demand will be the main driver of growth, but lower imports in real terms imply positive contributions to growth from net external demand,” Fitch Ratings wrote. The estimates came even as the Reserve Bank of India cut its growth forecast for the current fiscal to 6.6% and upped its inflation projection to 5.1%. Fitch has also lowered its 2026 global growth forecast to 2.4% as an extended oil crisis hurts prospects.
The central government has announced to provide financial support of about Rs 1.23 lakh crore to oil marketing companies to cushion losses triggered by the West Asia conflict and shield consumers from a sharper rise in fuel prices. However, no proposal has been made to curb capital outflow, PTI reported, quoting sources. The support covers the initial 78 days of the conflict and includes the impact of excise duty reductions, the agency said. As the war rages on, with no respite in sight, the fertiliser minister has also sought to double budgeted subsidy to Rs 1.77 lakh cr for FY27, sources told PTI.
Despite mounting pressure from surging global commodity prices that could nearly double the Centre’s fertiliser subsidy bill to Rs 3.4 lakh crore and necessitate support of Rs 1.23 lakh crore for oil marketing companies, the government remains firmly in control of the fiscal situation and sees little risk to India’s growth momentum, senior officials said. Even as geopolitical tensions in West Asia and global trade uncertainties cloud the external environment, officials said the economy continues to be supported by resilient domestic demand and a strong underlying growth trajectory.
German industrial production rose less than expected in April and economists said the outlook for Europe's largest economy remains weak, despite an unexpected increase in exports. Industrial production rose by 0.4% in April compared with the previous month, the federal statistics office said on Tuesday. Analysts polled by Reuters had predicted a 0.5% rise. It was the first monthly increase since the start of the Iran war, but that was no cause for optimism, Carsten Brzeski, global head of macro at ING, said.
U.S. small-business sentiment fell in May and the share of owners planning to raise prices over the next three months increased to the highest level in nearly four years, suggesting inflation could remain elevated for a while. The National Federation of Independent Business said on Tuesday its Small Business Optimism Index slipped 0.6 to 95.3 last month, falling further below its 52-year average of 98.0. The survey's uncertainty index rose three points to 91. It is running well above its historical average of 68.
Japan's wholesale inflation accelerated in May at the fastest pace in three years as price pressures from the Middle East war broadened, adding to the case for further interest rate hikes by the central bank. The Bank of Japan meets next week and is expected to deliver its first interest rate hike since December to cope with mounting inflationary pressures from a weak yen and the war-induced energy shock.
U.S. consumer inflation likely increased at its fastest pace in three years in May as the Middle East conflict raised prices of energy products, which would provide more ammunition for the Federal Reserve to keep interest rates unchanged this year. The anticipated third straight month of strong year-on-year Consumer Price Index readings from the Labor Department on Wednesday is expected to highlight mounting pressure on households as evidence suggests more consumers are dipping into savings to finance their spending. Inflation is likely to outpace wage growth in May for a second straight month, a development that could weigh on overall economic growth.
Norway's annual core inflation rate rose unexpectedly in May, Statistics Norway (SSB) data showed on Wednesday, supporting expectations interest rates could increase further this year. Core inflation, which strips out changing energy prices and taxes, stood at 3.4% year-on-year, up from 3.2% in April, and above the 3.2% expected by analysts in a Reuters poll. Norges Bank had expected core inflation of 3.3%. Norway's currency, the crown, strengthened to 10.96 against the euro by 0609 GMT, from 11.00 ahead of the data release.
The US trade deficit shrank slightly in April, government data showed Tuesday, bolstered by energy exports on a supply crunch following war in the Middle East. The overall trade gap narrowed 1.2 percent to $55.9 billion, said the Commerce Department. Economists surveyed by Dow Jones Newswires and The Wall Street Journal had expected a $56.1 billion figure.
China's exports picked up pace in May, rising 19.4% from a year earlier, its customs agency said Tuesday, as technology-related shipments remained robust despite impacts from the Iran war. The stronger than expected performance was an improvement from April's 14.1% year-on-year (Y-o-Y) increase. Imports in May jumped 27.4%, also at a faster pace compared with April's 25.3% Y-o-Y expansion.
China's producer prices rose for a third straight month in May to the highest since July 2022, while consumer prices stayed elevated as global energy prices piled cost pressures on manufacturers and drove up costs of living for households. Cost pressures from the Iran war could squeeze corporate profits and further subdue domestic consumption, although global AI-related demand provided a boost for some sectors.
India’s dealmaking activity moderated in May after an exceptionally strong April, even as investor appetite for large-ticket deals remained intact, according to Grant Thornton’s latest Dealtracker report. A total of 190 mergers and acquisitions (M&A) and private equity (PE) deals worth $10.2 billion were recorded in May, compared with 212 deals valued at $21.8 billion in April. The sharp decline in overall deal value was largely because April included Sun Pharma’s $11.8 billion acquisition of US-based Organon. Excluding this outlier, overall deal values remained largely stable on a month-on-month basis, indicating continued momentum in underlying deal activity despite lower reported volumes, says Shanthi Vijetha, Partner, Deals Lifecycle, Grant Thornton Bharat.
Delhi is set to significantly expand its public transport system with the addition of 2,800 new air-conditioned low-floor electric buses under the Centre’s PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme. The new buses will be added to the fleet operated by the Delhi Transport Corporation (DTC), strengthening both main routes and neighbourhood-level connectivity. New Electric Bus Plan The planned induction includes 1,400 nine-metre electric buses and 1,400 twelve-metre electric buses, designed to serve both busy routes and local areas.
Indian Railways has approved a Rs 285.01 crore project to strengthen train operations on one of its important high-density routes. The project will upgrade the existing electric traction network on the Mahbubnagar-Secunderabad-Medchal section, improving power supply and supporting higher traffic volumes. The upgrade covers nearly 141 route kilometres under South Central Railway and forms part of the national transporter’s broader effort to enhance capacity on heavily used rail corridors. At the heart of the project is the replacement of the existing 1×25 kV electric traction system with a more advanced 2×25 kV system. Railway officials expect the modern technology to provide a more stable and efficient power supply for trains, helping improve operational reliability across the route.
Passenger vehicle retail sales surged 23.25 % year-on-year to 402,591 units in May, helping the country’s loverall auto retail market grow 9.55 % to 2.53 million units despite a sharp fuel-price hike, intense heatwave conditions and geopolitical tensions in West Asia, according to data released by the Federation of Automobile Dealers Associations (FADA). “The growth was unexpected despite what is going on in the market. The booking backlog helped push sales, while rural sales saw 30 % growth, which also supported demand,” said Sai Girdhar, vice-president, FADA. The passenger vehicle story was driven largely by rural India rather than metropolitan cities. Rural PV sales jumped 30.35 % , significantly outpacing the 18.8 % growth recorded in urban markets, reflecting stronger rural consumption and improving farm incomes. Demand was aided by a revival in small cars alongside continued strength in SUVs.
Commerce and industry minister Piyush Goyal on Monday projected that India’s pharma industry could double its current size of around $60 billion to $120 billion in the next five years, largely driven by innovation, and alignment with the global best manufacturing practices. He said that India has certainly not reached anywhere close to its potential in the pharma sector, the industry is now moving beyond the generics segment into innovative products, while continuing to supply affordable medicines to the patients worldwide. Addressing the launch event of iPHEX 2026, Goyal said that India’s patent filings have jumped by almost 100% in the last few years. “We are focusing on high value segments through Biopharma Shakti mission, a programme that was launched to encourage innovation in the pharma sector,” the minister said.
Nvidia (NVDA.O), on Monday announced a series of deals in South Korea with tech giants including SK Hynix (000660.KS), and Naver (035420.KS), as it looks to secure crucial memory chips to power its AI ambitions and entice new customers. The agreements come during a high-profile trip by Nvidia CEO Jensen Huang to South Korea that began on Friday and has seen him dine on grilled pork belly and local spirit soju with the country's top corporate bosses, throw a baseball pitch and meet with a well-known gamer.
Johnson & Johnson (JNJ.N), opens new tab said on Monday it will acquire biotech Firefly Bio for $1 billion in cash, as it looks to expand its cancer drug pipeline. Firefly's Firelink platform uses antibodies to deliver a protein-degrading drug directly into cancer cells, an approach J&J says could help attack tumors while sparing more healthy tissue than existing treatments. The platform for tumors with a mutation in a gene known as KRAS "bolsters Johnson & Johnson's oncology pipeline and ambition to develop targeted medicines for the most prevalent and hard-to-treat solid tumors with high unmet need," said the drugmaker.
Vietnam has ordered its major airlines to review the progress of multibillion-dollar agreements signed with Boeing (BA.N), opens new tab and Pratt & Whitney, and explore new import deals with American companies, as Hanoi seeks to strengthen its hand in trade talks with the United States. The directive, issued by the Ministry of Construction on June 5 and reviewed by Reuters on Tuesday, followed a request from the Ministry of Industry and Trade, which is leading Vietnam's efforts to demonstrate to Washington that bilateral trade commitments are being acted upon. The move follows three separate Trump administration probes targeting Hanoi for allegedly distorting trade through excess capacity, intellectual property violations, and the use of goods produced using forced labour.
U.K. pharmaceutical group GSK has entered an agreement to acquire U.S.-based drugmaker Nuvalent for $10.6 billion to bolster its lung cancer pipeline, in what would be the British drugmaker’s largest acquisition in more than a decade. The all-cash deal values Nuvalent at about $124 per share, according to a GSK filing on Tuesday, representing a 40% premium to its last closing price. The Financial Times had reported the transaction earlier on Tuesday. Nuvalent did not respond to a request for comment.
Tata Consultancy Services (TCS) has signed a multiyear, multimillion Euro transformation and managed services agreement with Canada Life, to support the modernisation of Canada Life’s IT infrastructure services across its European businesses, the IT major said in a statement on Monday. The programme aims to improve operational resilience, increase automation and enhance user experience while helping Canada Life accelerate its broader technology strategy by leveraging TCS’ AI & digital capabilities. The engagement will also support the insurer in scaling technology services more effectively and responding more quickly to changing business needs. “Working with TCS marks the next stage of our journey to modernise the technology foundations that underpin our business. TCS brings deep technical expertise, strong transformation capabilities and a collaborative approach that aligns well with our strategy,” Caroline Dibbs, Chief Information & Transformation Officer, Europe, Canada Life Group said.
HCLTech will launch an AI Innovation Zone in collaboration with Google Cloud at Santa Clara, California. The AI Innovation Zone will enable global enterprises to scale artificial intelligence(AI) applications across agentic, kinetic and physical AI. The company said in its regulatory filing that the centre will provide a dedicated environment for businesses to design, build and deploy AI-powered workflows. It will also support robotics-led innovation and help enterprises develop industry-specific AI solutions that deliver measurable business outcomes. Focus on scaling enterprise AI The AI Innovation Zone is powered by Gemini Enterprise, Google’s AI platform. The initiative builds on the expanded partnership between HCLTech and Google Cloud announced in March this year.
The Indian Rupee posted sharp declines, sliding further into the 95 to the dollar levels, weighed by renewed geopolitical tensions, which led to a surge in oil prices. The currency ended Monday’s trade at 95.70 per dollar, down 0.8% from its previous close, marking one of its biggest single-day falls in nearly four weeks. Despite the spate of measures announced by the RBI on Friday to attract foreign capital, the currency opened on a weak note at 95.32 per dollar, and traders reported that the central bank stepped in to help curb its fall. “RBI was not in the market to protect the rupee until it fell to 95.70,” said Anil Kumar Bhansali, head of treasury at Finrex Treasury Advisors LLP.
IT service firm, Dynacons Systems and Solutions has secured an order of over Rs 125 crore from the Central Bank of India for a project aimed at the expansion of private cloud. The order will also focus on building advanced AI infrastructure. Dynacons Systems and Solutions: Order key details The project which is domestic in nature aims at building larger and more advanced cloud and AI. It also includes the establishment of a containerization platform and servers based on the NVIDIA H200 Blackwells GPU. The total order value exclusive of GST stands at Rs 125.88 crore, and will be executed within a period of five years. The company in its exchange filing clarified that there are no related-party transactions involved in the project.
Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey on Monday said the capital markets regulator and the Reserve Bank of India (RBI) are jointly working on introducing derivatives on corporate bond indices as part of efforts to deepen India's corporate bond market. Addressing the ICICI Securities India Investor Conference 2026 in Mumbai, Pandey said the architecture of the corporate bond market has been significantly strengthened in recent years. "The Electronic Book Provider platform has been expanded to include issuances by REITs and InvITs, improving transparency and efficiency in the debt market," he said. In line with the Union Budget announcement, a working group is currently finalising operational details for a market-making framework aimed at improving liquidity in the corporate bond market. "Additionally, SEBI and RBI are working together to introduce derivatives on corporate bond indices," Pandey said.
The Reserve Bank of India (RBI) on Wednesday announced the launch of payment systems connectivity between India and Cambodia, allowing Indian travellers to make UPI-based QR code payments at merchants across the Southeast Asian nation. The facility, launched in Phnom Penh on Tuesday, marks the first phase of collaboration between NPCI International Payments Ltd (NIPL) and Acleda Bank Plc under the aegis of the RBI and the National Bank of Cambodia. Under the arrangement, Indian users can make real-time merchant payments at more than 4.5 million merchants enabled with Cambodia’s KHQR, the country’s national QR code standard, using UPI-enabled applications.
Union Commerce and Industry Minister Piyush Goyal said on Sunday that India remains open to investments from China and other neighbouring countries in desirable sectors, but there is “absolutely no chance” that the Narendra Modi government will join the Regional Comprehensive Economic Partnership (RCEP). Speaking at the Financial Express Best Banks Awards 2026 in Mumbai, Goyal defended India’s investment screening framework and launched a sharp attack on the previous Congress-led government for taking India into RCEP negotiations. Responding to a question on whether India should review its approach towards Chinese investments as the trade deficit with China continues to rise, Goyal said India does not oppose investments from China as long as they do not pose risks to the economy or lead to opportunistic acquisitions of strategic assets. “We encourage investments from all over the world. We have no problem also on Chinese investments as long as they are in desirable segments, as long as they are not coming in as an opportunistic takeover of an asset which may at some point of time be underpriced,” Goyal said.
The Central Board of Direct Taxes (CBDT) has notified fresh guidelines for compulsory scrutiny of Income Tax Returns (ITRs) during the financial year 2026-27, identifying six categories of cases that may be selected for detailed examination by the Income Tax Department. The guidelines, issued through a notification dated June 4, 2026, aim to ensure closer scrutiny of high-risk cases involving surveys, search and seizure actions, tax-evasion information, recurring tax disputes, and certain trusts or institutions claiming tax benefits despite cancellation or denial of registrations. Which taxpayers can face mandatory scrutiny? According to the CBDT guidelines, the following categories of cases can be selected for compulsory scrutiny: 1. Taxpayers covered under survey operations Returns of taxpayers on whom a survey under Section 133A of the Income-tax Act was conducted on or after April 1, 2024, will be selected for scrutiny. However, surveys conducted under Section 133A(2A) have been excluded from this category.
Meta description: Vedanta Resources is set to refinance $5.2 billion of dollar debt to lower borrowing costs after rating upgrades, Bloomberg reported. Billionaire Anil Agarwal's Vedanta Resources Ltd. is set to refinance $5.2 billion of US dollar bonds and loans, according to people familiar with the matter, as it seeks to lower borrowing costs by replacing expensive debt after securing credit-rating upgrades.
The three Airbus A320s, being inducted on a damp lease basis, are scheduled to join the airline’s fleet in July. The move comes as SpiceJet seeks to stabilise operations after a sharp decline in fleet strength that has seen it fall behind younger rival Akasa Air as reported by FE last month. The airline said the additional aircraft will enhance operational flexibility and support network requirements during the peak travel season across domestic and international routes. The fleet augmentation comes at a critical juncture for SpiceJet. Once among India’s largest low-cost carriers, the airline operating just 21 aircraft as of May 2026, down from 33 in December and well below Akasa Air’s fleet of 38 aircraft.
Bengaluru-headquartered green energy major Emmvee Group, a pioneer in solar energy having launched the country’s first solar water heaters way back in 1992 under Solarizer label that became the largest solar water heater not only in India but also in Europe, now a leading manufacturer of solar modules and cells, is on a massive expansion spree investing `5,500 crore in a greenfield gigafactory at Devanahalli in Bengaluru. In an interview with TNIE’s Benn Kochuveedan, group founder chairman DV Manjunatha Donthi, tells the new plant, spread across 100 acres is 5x bigger than the present facility, will make it the largest integrated player. Edited Excerpts: How has the supply-chain disruptions following the Iran war hit you? How much of the raw materials are imported?
Rajiv Bajaj will step down as a non-executive director of Bajaj Finserv after deciding not to seek re-election at the company's annual general meeting scheduled for July 31, 2026, according to a filing on the exchanges by the financial services company on Tuesday. Bajaj informed the company that increasing responsibilities at Bajaj Auto, including oversight of newly established businesses and the group's recent acquisition of KTM, have prompted him to reduce his external commitments.
Public sector company RailTel has bagged a Rs 41.3 crore work order from Uttar Pradesh Police Recruitment and Promotion Board. In an exchange filing, the company said that it has received the order to provide security-related ancillary services during the recruitment examination. This is the second major order the company has received in a month. Earlier, RailTel had received a Rs 31 crore work order from Newspace India for the supply, installation, commissioning, operation & maintenance of the upgradation of the IT Infrastructure.
Adani Ports and Special Economic Zone (APSEZ) has secured a 10-year marine services contract tied to Argentina’s first liquefied natural gas export project, the company said on Monday, extending its international marine operations to South America for the first time. The contract was awarded to The Adani Harbour International FZCO, a step-down subsidiary of APSEZ, in consortium with Argentina-based Meridian Group. It follows a global competitive tender by Southern Energy S.A. (SESA), the project developer.
India’s appetite for transport fuels remained largely unaffected by the steepest fuel price increase in nearly four years, with consumption of petrol and diesel continuing to rise in May despite cumulative retail price hikes of over ₹7 per litre and elevated global crude oil prices. Data released by the Petroleum Planning and Analysis Cell (PPAC) showed overall petroleum product consumption rose 2.38% month-on-month to 19.93 million metric tonnes (MMT) in May from 19.47 MMT in April, driven by higher demand for road transport fuels and aviation fuel.
India’s current account moved into a surplus of $7.1 billion in the March quarter of FY26, supported by stronger services exports and higher remittance inflows, according to Reserve Bank of India data released on Monday (June 8). The surplus was equal to 0.7% of GDP but it was narrower than the $13.7 billion surplus posted in the same quarter last year. The improvement on the services side and from remittances helped offset a larger goods trade gap. India’s merchandise trade deficit widened to $83.4 billion in Q4 FY26 from $59.3 billion a year earlier, reflecting higher import outgo.
The Centre has reduced the number of subsidised LPG refills available annually under the Pradhan Mantri Ujjwala Yojana (PMUY) from nine to four, officials said during an inter-ministerial briefing on Monday (June 8). The government cited a sharp increase in global liquefied petroleum gas (LPG) prices amid the ongoing crisis in West Asia as the reason behind the move. The move comes as state-run oil marketing companies (OMCs) face mounting losses on the sale of domestic cooking gas. According to the petroleum ministry, the effective cost of a domestic LPG cylinder has crossed Rs 1,600 based on international benchmark prices, while consumers continue to pay significantly lower rates.
The International Monetary Fund's Executive Board approved reviews of Papua New Guinea's lending arrangements, unlocking about $163 million in combined disbursements, the fund said on Monday. • The Extended Fund Facility and Extended Credit Facility arrangements were approved in 2023, to address a protracted balance of payments problem that caused foreign exchange shortages.
The Confederation of British Industry cut its forecast for the country's economic growth on Tuesday and predicted unemployment would rise to its highest in more than a decade as the Iran war pushes up energy prices and squeezes living standards. Consumer price inflation looks set to peak at 3.7% in the first quarter of next year, up from 2.8% in April and similar to the rise predicted by the Bank of England.
South Korea's economy grew in the first quarter at a stronger pace than previously estimated in April, revised central bank data showed on Tuesday. Gross domestic product grew 1.8% in the January-March quarter from the preceding three months, faster than the 1.7% increase estimated earlier, according to the Bank of Korea.
The Bank of Japan will consider maintaining the current pace of bond purchases beyond next fiscal year, sources said, pausing a taper process that would mark a turning point in its quantitative tightening (QT) plan. But the decision could be a close call as the nine-member board is seen as split between those who want to focus on soothing investor nerves and others who see the need to steadily slow purchases to reduce the BOJ's large balance sheet, they said.
German exports rose unexpectedly by 0.9% in April compared with the previous month, data from the federal statistics office showed on Tuesday. The result compared with a forecast for a 0.5% decrease in a Reuters poll. The statistics office publishes more detailed economic data on its website.
India's Global Capability Centres (GCCs) — in-house technology and operations hubs set up by multinational corporations — have taken the lead as one of the fastest-growing segments of the country's technology sector, outpacing the traditional IT services sector on several metrics. Behind the trend driving the rapid expansion of GCCs in India is the corporate need for control. Industry stakeholders say that the shift from outsourcing services to relying on in-house capabilities allows multinational companies to better manage intellectual property, proprietary technologies and sensitive data. India, currently the world's largest GCC hub with over 2,100 centres, employs around 2.36 million people while generating nearly $100 billion in revenue, driven largely by the country's deep and diverse talent pool, according to a report by Nasscom and Zinnov. By 2030, 2,500 GCCs are projected to employ 3.5 million.
India's automobile retail sales rose 9.6% year-on-year in May, defying higher fuel prices, intense heatwave conditions and uncertainty stemming from the West Asia conflict, dealers' body FADA said on Monday, while expressing confidence that monsoon-led rural demand and Kharif sowing activity will help sustain sales momentum in the coming months. Vehicle registrations across categories climbed to 25.31 lakh units in May, according to data released by the Federation of Automobile Dealers Associations (FADA). The industry recorded its best-ever May performance for passenger vehicles (PVs), three-wheelers, tractors and overall retail registrations, even as sales slipped 6.8% from April due to seasonal factors and a delayed onset of the southwest monsoon.
West Bengal could get a major railway infrastructure upgrade if projects worth around Rs 1 lakh crore are advanced as planned. The proposed investments were discussed during a meeting between Chief Minister Suvendu Adhikari and Railway Minister Ashwini Vaishnaw at Nabanna on Saturday. The plans include redevelopment of the 102 station, metro extensions, new rail links and road-rail infrastructure aimed at enhancing connectivity across the state. Adhikari stated that the state would support the Railways in securing land and clearances for pending projects. He further added that timely land acquisition and no-objection certificates (NoCs) could clear the way for railway investments of about Rs 1 lakh crore in West Bengal.
Asset reconstruction companies (ARCs) acquired bad loans worth over Rs 2 lakh crore in FY26, with retail assets emerging as the fastest-growing segment amid a steady decline in corporate non-performing assets (NPAs). According to industry data, total dues acquired by ARCs rose by Rs 2.05 lakh crore to Rs 18.2 lakh crore as of March. While corporate assets continued to account for the bulk of acquisitions, retail loans recorded a significantly faster growth. Retail dues acquired increased by Rs 54,727 crore, or nearly 29% year-on-year, to Rs 2.47 lakh crore, while corporate acquisitions grew by Rs 1.5 lakh crore, or around 11%, to Rs 15.7 lakh crore.
The domestic pharma market recorded sales of Rs 21,805 crore in May 2026, up by 10.9% from the corresponding month last year, driven by continued demand across chronic therapies, and an overall improvement in the volume growth, according to the latest Pharmarack report. The latest figures show that the unit growth of the industry stood at 1.4%, suggesting that price increases have largely contributed to the May growth in comparison to the volume growth. The sector recorded healthy growth last month despite a relatively high base and, persistent pricing pressures.
The passenger vehicle market may be becoming increasingly concentrated, but a clutch of global automakers and new entrants are preparing a fresh investment and product offensive aimed at strengthening their presence. The push comes even as Maruti Suzuki India, Hyundai Motor India, Mahindra & Mahindra and Tata Motors together accounted for 78.28% of industry sales in April 2026, underscoring the growing dominance of the top four manufacturers. Rivals, including Toyota, Honda, Renault, Nissan, Volkswagen, Skoda, Stellantis and MG Motor, along with new entrant JSW Motors, are responding with new factories, local product development programmes, SUVs, hybrids and electric vehicles.
The widening conflict in the Middle East has emerged as the biggest threat to the global airline industry’s profitability this year. At the meeting in Rio de Janeiro on Sunday, the International Air Transport Association (IATA) sharply downgraded its 2026 financial outlook, citing the fallout from the US and Israeli strikes on Iran. The conflict triggered widespread airspace restrictions across the region, forcing airlines to avoid key flight corridors, lengthening journey times, increasing fuel burn and reducing aircraft utilisation. The disruption has been especially severe for Gulf carriers such as Emirates, Qatar Airways and Etihad Airways, which sit at the heart of one of the world’s busiest long-haul transit networks. The near-complete shutdown of regional airspace during the initial phase of the conflict exposed the vulnerability of airlines that depend heavily on the Middle East as a global aviation crossroads.
When the day comes, the reopening of the Strait of Hormuz will be an extraordinary event: restarting about 10,000 oil wells, pumping roughly 15% of the world’s production, that had been shut down for a hundred days and counting. Nothing even remotely close has been attempted — ever. The oil industry doesn’t have a playbook for it; it will learn by doing. Unsurprisingly, the commodity market is deeply divided about how long it would take: oil bears believe it could be done in days and weeks, while the bulls talk about six to eight months, perhaps even a year. The most pessimistic say many wells won’t restart at all. My industry soundings are far more upbeat: When it happens, it would start as a trickle, but very quickly — in just a handful of weeks, if not days — transform into an oil flood. I’m on the side of the bears, as you may have guessed.
The biggest oil supply shock in decades has entered its fourth month - with no resolution in sight as neither the U.S. nor Iran appears willing to budge - yet the market has settled into an eerie calm. This disconnect reflects an uncomfortable reality: the biggest drivers of today's energy market are a host of unknowns. In recent weeks, benchmark Brent crude has retreated from a four-year high of $118 a barrel, set in March, to below $95, returning to levels that sit comfortably within the range of the past two decades. This has happened even though the Strait of Hormuz - the world's most critical oil chokepoint - has remained largely shut for more than three months, disrupting flows equivalent to roughly 13% of global supply.
OPEC+ approved a fourth consecutive increase in oil production targets on Sunday, even as a severe supply crisis continues to disrupt oil exports from several major producers and keeps the group’s actual output far below official targets, reported Reuters. The alliance, which includes members of the Organization of the Petroleum Exporting Countries (OPEC) and partners such as Russia, agreed to raise production targets by 188,000 barrels per day (bpd) in July, reported Reuters. The increase follows similar output hikes announced for April, May and June.
Swiss companies invested $27 billion in the United States between January and April, as Switzerland moves to fulfil a pledge to sharply increase investment following a tariff agreement with Washington, NZZ am Sonntag reported. The figure was contained in an internal email from the Swiss-American Chamber of Commerce to its members seen by the newspaper, it said. • Switzerland and the U.S. said on November 14 that Swiss companies would invest $200 billion in the U.S. over the next five years. The pledge formed part of a preliminary agreement under which U.S. President Donald Trump reduced punitive tariffs on Swiss goods to 15% from 39%, after imposing the higher rate at the beginning of August.
Nvidia on Monday announced a series of deals in South Korea with tech giants including SK Hynix and Naver, as it looks to secure crucial memory chips to power its AI ambitions and entice new customers. The agreements come during a high-profile trip by Nvidia CEO Jensen Huang to South Korea that began on Friday and has seen him dine on grilled pork belly and local spirit soju with the country's top corporate bosses, throw a baseball pitch and meet with a well-known gamer. Nvidia and its partners, which also included SK Telecom and conglomerate Doosan Group, did not disclose the value of the deals. SK Group, South Korea's second-largest family-owned conglomerate, said its SK Hynix and SK Telecom arms had agreed deals with Nvidia. Memory chip maker SK Hynix signed a multi-year technology partnership that will see it commit to developing advanced types of memory for global AI data centres, SK Group said. SK Hynix and Nvidia said the agreement, which comes as memory chip makers have been straining to keep up with demand, would enable supply to keep pace with Nvidia's plans, which have expanded to robotics, personal computers and AI supercomputers.
China's export growth likely strengthened in May, underpinned by a backlog of overseas orders brought forward to pre-empt energy price pressures tied to the Gulf war, alongside sustained global demand for semiconductors and AI-related components. Exports from the world's second-largest economy are forecast to have risen 15% year-on-year in dollar terms, according to 32 economists in a Reuters poll, up from the 14.1% growth recorded in April. The Middle East conflict has yet to dent China's exports, policymakers' preferred growth driver, but economists say it's only a matter of time. As foreign buyers' stockpiling peaks, the benefits of front-loading orders fade and input costs rise, prompting buyers to run down inventories and wait out a ceasefire.
The widening conflict in the Middle East has emerged as the biggest threat to the global airline industry’s profitability this year. At the meeting in Rio de Janeiro on Sunday, the International Air Transport Association (IATA) sharply downgraded its 2026 financial outlook, citing the fallout from the US and Israeli strikes on Iran. The conflict triggered widespread airspace restrictions across the region, forcing airlines to avoid key flight corridors, lengthening journey times, increasing fuel burn and reducing aircraft utilisation. The disruption has been especially severe for Gulf carriers such as Emirates, Qatar Airways and Etihad Airways, which sit at the heart of one of the world’s busiest long-haul transit networks. The near-complete shutdown of regional airspace during the initial phase of the conflict exposed the vulnerability of airlines that depend heavily on the Middle East as a global aviation crossroads.
Global container shipping rates have surged to their highest levels in about a year as the war between the United States and Iran continues to disrupt trade routes, raise fuel costs and strain shipping networks across Asia. Fresh data from freight analytics platform Xeneta shows the cost of moving goods by sea rose sharply over the past week, as per Bloomberg report. The spot rate for a 40-foot container from Asia to Northern Europe climbed to $3,649 as of Friday, up 27% from a week earlier. Shipping costs from Asia to the US West Coast jumped 20% to $3,933, reported Bloomberg citing data from Xeneta.
India plans to make a renewed pitch for inclusion of its sovereign debt in major global bond gauges, including the Bloomberg Global Aggregate Index, after exempting foreign investors from capital gains and withholding taxes and vastly widening the investable pool of long-dated securities, officials said. Reserve Bank of India (RBI) and finance ministry officials may also reach out to the Basel-based Bank for International Settlements (BIS) for talks, they said. BIS has been given a special tax-exempt status in the latest rejig. BIS invests significantly in government securities (G-secs) and enjoys tax-free status everywhere.
The Centre’s and the Reserve Bank of India’s recent measures to attract foreign capital inflows are expected to ease pressure on the rupee and arrest its one-way slide, but a sharp appreciation remains unlikely amid persistent geopolitical uncertainty, market participants said. Most analysts expect the rupee to trade in a range of 94-96 against the dollar in the near term, with further movement dependent on geopolitical developments and the scale of inflows generated by the measures. A FE poll of nine respondents found that 66% do not expect the rupee to strengthen beyond the 94-per-dollar mark in the near future.
The FII outflows from Indian equity markets continue. Foreign portfolio investors net sold Rs 42,927 crore worth of equities in the first week of June alone. Experts believe a convergence of global capital rotation toward artificial intelligence opportunities and a sharply weaker rupee continued to erode the investment case for India. The week’s outflows take total FPI selling in 2026 to Rs 2.67 lakh crore exceeding the full-year figure of Rs 1.66 lakh crore recorded in 2025, according to National Securities Depository Ltd (NSDL) data. The scale of the exit is significant: India is no longer just facing a pullback, it is absorbing a structural reallocation of global money.
The big story of the day is the big block deal across Adani Group companies. GQG Partners Emerging Markets Equity Fund offloaded shares in Adani Enterprises and Adani Energy Solutions’ equity shares via block deals. These shares were bought entirely by SBI Mutual Fund. On June 05, GQG Partners sold 1.64 crore shares, 1.26% of Adani Enterprises’ total market capitalisation, at an average price of Rs 2,913.40, totalling the stake sale at Rs 4,789.62 crore. Another block deal was of Adani Energy Solutions, where GQG Partners sold 63.65 lakh shares at an average price of Rs 1,504.80. SBI Mutual Funds bought these shares for the same price. Taking the total deal price at Rs 957.93 crore. About GQG Partners GQG Partners is a global investment firm that is a prominent shareholder in the Adani Group. The firm is led by Chief Investment Officer Rajiv Jain. GQG famously took a contrarian stance by purchasing massive stakes in various Adani companies when their stock prices plunged in early 2023 after US-based short seller Hindenburg Research struck the Adani Group.
Union Commerce and Industry Minister Piyush Goyal said on Sunday that India remains open to investments from China and other neighbouring countries in desirable sectors, but there is “absolutely no chance” that the Narendra Modi government will join the Regional Comprehensive Economic Partnership (RCEP). Speaking at the Financial Express Best Banks Awards 2026 in Mumbai, Goyal defended India’s investment screening framework and launched a sharp attack on the previous Congress-led government for taking India into RCEP negotiations. Responding to a question on whether India should review its approach towards Chinese investments as the trade deficit with China continues to rise, Goyal said India does not oppose investments from China as long as they do not pose risks to the economy or lead to opportunistic acquisitions of strategic assets.
Natural diamonds, at least in India, have always earned blanket trust from customers—trust in their value, reliability, and endurance. They are expected to last and to shine light( pun intended) on generations gone by as they are passed down family lines. The diamond industry is evolving, like all industries need to, in order to adapt to modern requirements and younger generations. Consumers nowadays have questions and access to answers from the internet. They want to know, “Is my diamond natural or laboratory-grown? Has it been certified? Is it ethically sourced?”, etc. For this reason, the Bureau of Indian Standards (BIS) has introduced disclosure norms for clarity and consistency.
Reliance Infrastructure has entered the artificial intelligence space by launching three AI-focused subsidiaries- Reliance AI World Private, Reliance AI Apex Private, and Reliance AI One Private. In a regulatory filing, the company said it has started incorporating AI and related technology-driven activities into its business framework as part of its expansion into new-age technologies. “Reliance Infrastructure, as a step to participate in the rapidly evolving field of Artificial Intelligence (“AI”) and allied new-age technologies, has through its subsidiaries, undertaken certain enabling steps to incorporate AI and related technology-driven activities within its business framework,” the company said in its regulatory filing.
Adani Power‘s plans to more than double generation capacity by FY32, improve power purchase agreement coverage and strengthen cash-flow generation. This has reinforced Jefferies‘ positive view on the stock following a management interaction. The brokerage maintained its ‘Buy’ rating and target price of Rs 255, implying an upside of about 11% from the previous closing price. Jefferies said 56% of the company’s planned 23.7 gigawatts of upcoming capacity is already tied up under long-term power purchase agreements, while management aims to secure agreements for the balance capacity as well. Adani Power: Jefferies expects steady growth The brokerage expects Adani Power Ltd. to deliver a 23% earnings before interest, tax, depreciation and amortisation compound annual growth rate between FY26 -FY30 and turn free cash flow positive by FY30.
Economist Ashok Kumar Lahiri, who took over as vice chairman of NITI Aayog ☐ last month, believes India's growth debate is focused on the wrong question. Rather than looking for ways to boost consumption, Lahiri said policymakers should focus on increasing investment by accelerating reforms and removing obstacles to capital flows. In an exclusive interview with Surojit Gupta and Nalin Mehta, Lahiri made the case for an investment-led growth strategy, pointing to India's relatively low Investment rate, compared to those of the East Asian Tigers and China when they were at similar economic levels.
Highlighting the deep-seated historical and strategic ties between the two nations, External Affairs Minister S Jaishankar on Sunday stated that the visit of Indonesian President Prabowo Subianto as the Republic Day Chief Guest in 2025 has imparted fresh momentum to the bilateral Comprehensive Strategic Partnership. Welcoming the Indonesian delegation for the 8th India-Indonesia Joint Commission Meeting (JCM), which is being held after a gap of four years, Jaishankar outlined the vast potential for multi-sectoral cooperation.
The Reserve Bank of India's announcements after the monetary policy committee meeting are some measures aimed at flipping the rupee narrative from depreciation risk to inflows, SBI research and Kotak Securities said in their respective research reports. SBI projects at least $40 billion of capital flows that could pull the rupee back toward 92-93 levels, while Kotak estimates the full package may bring $50-75 billion. Both houses expect the MPC to pause in August, keeping the repo rate at 5.25% with a "neutral" stance, even as inflation vigilance rises and growth forecasts are trimmed.
Urban consumers turned more pessimistic about the economy, jobs and spending in May, while professional forecasters lowered India's growth outlook, pointing to emerging signs of softer demand and weakening sentiment, according to Reserve Bank of India (RBI) surveys released on June 05. The RBI's Urban Consumer Confidence Survey (UCCS) showed consumer confidence for the current period fell for the third consecutive round, with the Current Situation Index (CSI) declining to 90.7 in May from 95.7 in March.
India's gross domestic product growth is expected to moderate to around 6.5 per cent in FY27 as higher input costs, geopolitical tensions, and a weak monsoon bite, according to recent research reports by brokerage firms Dolat Capital and ICICI Global Markets. The risk is less about supply availability and more about the landed costs of crude and inflation being passed to consumers. Dolat sees agriculture GVA slowing to 1.2 per cent YoY in FY27 if IMD's forecast of 90 per cent of LPA monsoon under El Nino plays out, while softer Middle East demand could hit exports. ICICI flags weaker exports, rising input costs and potential El Nino disruptions as key headwinds, though private consumption and capex should keep growth above 6 per cent.
India's growth momentum remains strong and fears that crude price shocks will derail it are a "narrative problem, not reality," said Neelkanth Mishra, India's newly appointed Executive Director at the World Bank. In an exclusive interview with ANI, Mishra spoke on Indian economy's outlook amid West Asia tensions, he argued that India is better placed than most energy importers to absorb higher oil prices without major damage to growth. Mishra is also a member of the Prime Minister's Economic Advisory Council and is widely known for his work as an economist and market expert.
India's currency has tumbled to record lows this year because of pressure on the economy's balance of payments (BoP), prompting steps by authorities to try to cool dollar outflows. A surge in oil prices following the Iran conflict and selling of Indian stocks by foreign investors are likely to widen the BoP deficit this financial year, economists say.
India's inflation likely rose to the Reserve Bank of India's medium-term target of 4% in May, driven by a pickup in vegetable prices and higher fuel costs following the U.S. and Israel war against Iran, a Reuters poll of economists showed. Inflation has remained below the RBI's 4% target for 15 consecutive months. But that benign trend is unlikely to continue, with state-owned fuel retailers raising fuel prices four times in May alone, pushing up transport costs, while food inflation continued to rise from last year's low levels.
India has launched E85 fuel as part of a wider plan to reduce dependence on imported crude oil. But the new fuel is meant only for flex-fuel vehicles, not regular petrol or E20-compliant cars. India’s E85 launch is not just another fuel station story. It is the Centre’s latest attempt to solve a much older problem: how to reduce the country’s dependence on imported crude oil without waiting for the transport economy to fully shift to electric vehicles.
State governments started 2026-27 on a cautious note, with an estimated 8% dip in their budgetary capital expenditure and moderate growth in revenue expenditure. Data compiled from 20 major states showed that aggregate capital expenditure fell 8.2% year-on-year to Rs 20,931 crore in April 2026, reversing the 15.9% growth recorded in the corresponding month of the previous year. The decline suggests that states may be prioritising fiscal prudence and preserving financial flexibility amid heightened global uncertainty and concerns over the impact of geopolitical tensions on growth, inflation and public finances.
Commerce and Industry Minister Piyush Goyal has said India-US trade negotiations are moving “extremely well”, but warned that the final value of the deal will depend on whether Indian exports are burdened by additional tariffs under the US Section 301 process. Speaking at the FE Best Banks Awards 2026, Goyal said the two sides had made strong progress and that a deal would come through. However, he indicated that India is closely watching the tariff structure Washington may impose under Section 301, as cumulative duties could reduce the advantage created by the trade agreement.
Japan's economy lost momentum in the January-March quarter from the previous three months on sluggish capital expenditure, revised gross domestic product data showed on Monday, pointing to challenges ahead due to the Middle East conflict.
Vietnam will lean towards expansionary fiscal policies to meet the government's economic growth target, with the room narrowing for monetary policy, the country's deputy central bank governor Pham Thanh Ha was cited by state media as saying on on Monday.
Visakhapatnam (Andhra Pradesh) [India], June 5 (ANI): India's seafood exports increased by 70 per cent in dollar terms from 2014 to 2025, contrasting sharply with a global international seafood trade expansion of barely 12 to 12.5 per cent during the same period. Union Minister of Commerce and Industry Piyush Goyal, speaking to ANI, stated that the performance underscores domestic resilience amid international challenges. "Even in dollar terms, from 2014 to 2025, India's seafood exports increased by 70%, whereas the world international trade on seafood increased by barely 12-12.5%, clearly demonstrating the capabilities of our fishermen, the wonderful work that our stakeholders related to this sector, whether they are processors, whether they are exporters, all of them are doing," Goyal said.
Airbus SE is falling behind on deliveries of the A321XLR, a longer-range version of its most popular jet, with Indian customer IndiGo unlikely to receive the full batch of nine units this year, according to people familiar with the matter. InterGlobe Aviation Ltd., the operator of Asia’s largest low-cost carrier, was supposed to receive the XLRs by year’s end, but the time frame on some units has been pushed back by several months, said the people, asking not to be identified because the information isn’t public. IndiGo has received two XLR jets so far, and they’re being used on routes to Athens and Istanbul.
Nestle India is intensifying its rural bet, placing greater emphasis on consumer-centricity and penetration-led volume growth, apart from accelerating tech-enabled sales and operations and reinvesting behind brands, Nestle India’s chairman and MD Manish Tiwary said in the company’s latest annual report released Friday. Addressing shareholders in his first letter to them, Tiwary, who succeeded Suresh Narayanan on August 1, 2025, laid out his roadmap for the future amid a dynamic operating environment. Describing domestic consumption in FY26 as a “push-pull”, Tiwary said it was shaped by a combination of improving macro stability and uneven household sentiment. ‘Food inflation and affordability continued to influence everyday choices. Urban demand remained relatively resilient, while premium segments stayed comparatively stable. Rural recovery was shaped by monsoon outcomes, farm income and government support,” Tiwary added.
Coal India Ltd (CIL) has offered a record 35 million tonnes (MT) of high-grade coal to sponge iron manufacturers under its linkage auction route, while announcing a series of policy changes aimed at increasing coal availability and operational flexibility for non-regulated sector (NRS) consumers. The linkage auction, scheduled for June 12, is expected to support domestic sponge iron producers, a key consumer of high-GCV coal, and help reduce imports of the fuel grade. The move comes as CIL steps up coal supplies to industrial consumers alongside meeting demand from the power sector. Policy Relief In another policy change, the company has allowed the steel (coking) sub-sector to sell surplus coal middlings in the open market. Middlings are power-grade coal generated during the washing of raw coking coal and are partly used in captive power plants. The provision has been introduced under the ongoing Tranche-X linkage auctions, which began on June 3.
Gold has crossed a key milestone in the financial markets that would have seemed unthinkable just a few years ago. For the first time, gold has surpassed US government bonds as the leading reserve asset globally, driven by massive central bank purchases and a price rally that has nearly doubled gold’s value in just two years. Central banks now hold more gold than US government bonds or euros in their foreign exchange reserves. The share of gold in total official foreign reserves reached 27% at the end of 2025 — surpassing both the euro at 15% and US Treasuries at 22%. In other words, gold is now the single largest component of global official reserves.
Apollo Global Management Inc. and Blackstone Inc. have finalized a $35 billion financing package for Anthropic PBC to expand its Al infrastructure, marking the latest mega-deal in the artificial intelligence race. The debt deal priced across three tranches, according to people familiar with the matter. The capital will fund Google's custom chips for Anthropic to lease, Bloomberg previously reported.
aiwan's Foxconn said on Friday that its second-quarter performance is likely to be well above its previously anticipated forecast of "significant" growth. Foxconn, which is Nvidia's biggest server maker and Apple's top iPhone assembler, does not provide numeric guidance for its outlook.
Mutual fund (MF) houses are restricting large inflows into gold exchange traded funds (ETFs) and fund of funds (FoFs) feeding into such schemes in order to align with govt's recent policy of discouraging people from buying gold. Three large fund houses--HDFC MF, ICICI Prudential MF and Nippon India MF--have restricted large inflows into gold funds. The decisions will come into effect between June 5 and June 8. "In light of the broader economic and market conditions, it has been decided to temporarily restrict lumpsum subscriptions in HDFC Gold ETF and HDFC Gold ETF Fund of Fund until further notice," a communication from the fund house said.
The Reserve Bank of India (RBI) will release the list of upper-layer non-banking financial companies (NBFCs) soon, Governor Sanjay Malhotra said at the post-policy press conference. "The list is there already. So, it continues till the time we have a new list. We will do it (update) shortly," Malhotra said without elaborating. Tata Sons, the holding company of the Tata group, has sought to de-register as an upper-layer NBFC, which would exempt it from the mandatory listing requirement, the deadline for which was September 2025. The regulator has not officially commented on this request. Responding to a specific question on Tata Sons' application to surrender its upper-layer NBFC classification in an interview with ET in March, Malhotra said the matter is under examination and that the process for finalising a revised list is underway.
India is making an attempt to woo foreign portfolio investments (FPIs) to the government securities (G-Secs) market at a time when the market has been seeing weakness. On Friday, the government announced the exemption of 12.5% long-term capital gains tax on investments in G-Secs by foreign portfolio investors (FPIs). This is widely expected to bring Indian taxation rule at par with other emerging markets. If FPI participation improves, it will augment the country’s foreign exchange reserves, giving more room for the country’s apex bank to defend the rupee amid stress, debt market experts said. The move could also open the door for Indian G-Secs’ inclusion in the Bloomberg Global Bond Index, which may in-turn bring inflows of around $20-25 billion over the next year.
A Pune bench of the Income Tax Appellate Tribunal (ITAT) has come to the rescue of a scrap dealer who was saddled with a tax demand of nearly Rs 44 lakh after the Income Tax Department treated cash deposits in his bank account as unexplained money. The case involved Wajeed Khan, a scrap trader who had been in business for over a decade. The dispute centred on cash deposits of Rs 1.28 crore made in his cooperative bank account during FY 2015-16. Why did the tax department reopen the case? Wajeed had filed his income tax return declaring an income of Rs 3,00,340. However, the department’s Insight portal flagged cash deposits of Rs 1,28,26,078 in his bank account, prompting the reopening of the assessment under Section 147.
VinFast parent Vingroup’s electric mobility arm Green SM on Thursday entered the Indian market with the launch of its electric ride-hailing service, Green SM Limo, in Delhi NCR, marking its first expansion into South Asia. The company has begun operations with a fleet of around 1,000 electric vehicles and plans to scale up to 10,000 vehicles across Delhi NCR in the coming months, intensifying competition in the country’s ride-hailing market. Scaling the Grid Speaking at the launch event, Haryana Industries and Commerce Minister Rao Narbir Singh said the company had shared its expansion plans with the state government.
VinFast parent Vingroup’s electric mobility arm Green SM on Thursday entered the Indian market with the launch of its electric ride-hailing service, Green SM Limo, in Delhi NCR, marking its first expansion into South Asia. The company has begun operations with a fleet of around 1,000 electric vehicles and plans to scale up to 10,000 vehicles across Delhi NCR in the coming months, intensifying competition in the country’s ride-hailing market. Scaling the Grid Speaking at the launch event, Haryana Industries and Commerce Minister Rao Narbir Singh said the company had shared its expansion plans with the state government.
The Centre is ready to take more policy measures to help insulate the economy from the adverse impact of the West Asia conflict and will phase it out instead of rushing with announcements. The focus of these steps will be to ensure that there is enough availability of goods, raw material, inputs and finished products, to meet the domestic requirement, while seeking to provide stability to the Indian currency and foreign exchange flows.
India’s government is weighing spending cuts across parts of the budget as higher oil prices inflate subsidy bills and threaten to derail its fiscal consolidation plans, according to officials familiar with the matter. The options have been reviewed in meetings with Finance Minister Nirmala Sitharaman over the past month, although no decision has yet been made, the officials said, asking not to be identified because the discussions are private.
India’s government and central bank took coordinated steps on Friday to spur foreign inflows, providing an immediate boost to the beleaguered currency. The challenge for policymakers will now be to sustain those flows in the face of economic threats beyond their control. The double-barreled intervention by authorities was hailed by investors as significant enough to spur as much as $50 billion into Indian bonds and stocks this year and reverse an outflow that’s dragged the rupee to a record low. The currency and bonds rose on the news.
India could return to a growth rate above 7% by FY28 if macroeconomic stability is maintained and supply-side measures continue, Chief Economic Adviser V Anantha Nageswaran said on Friday, even as rising global uncertainties weigh on the near-term outlook. His comments came hours after the Reserve Bank of India (RBI) cut its GDP growth forecast for FY27 to 6.6% from the 6.9% projected in April, citing higher energy and commodity prices along with persistent supply disruptions linked to the conflict in West Asia.
India’s government and central bank took coordinated steps on Friday to spur foreign inflows, providing an immediate boost to the beleaguered currency. The challenge for policymakers will now be to sustain those flows in the face of economic threats beyond their control. The double-barreled intervention by authorities was hailed by investors as significant enough to spur as much as $50 billion into Indian bonds and stocks this year and reverse an outflow that’s dragged the rupee to a record low. The currency and bonds rose on the news.
While the Reserve Bank of India (RBI) held the policy repo rate steady for a third straight meeting, it raised its inflation forecast for FY27 by 50 basis points to 5.1%. However, most economists still anticipate the central bank will begin tightening in the second half of the year. Sakshi Gupta, principal economist, HDFC Bank, said policy could be assessed as slightly hawkish given the 50bps upward revision in the inflation forecast to 5.1% for FY27. “This raises the likelihood of the rate hike cycle beginning by the October policy. We estimate a cumulative 50bps rate increase in FY27.” She added that the central bank recognised the downside risks to growth due to supply chain disruptions and increase in price pressures.
Reserve Bank of India Governor Sanjay Malhotra and four Deputy Governors, in the post policy press conference on Friday said, the central bank remains committed to its 4% target despite a higher inflation outlook. They also expressed confidence that measures announced to attract foreign currency inflows will support a stronger balance of payments position. Malhotra said the RBI expects healthy inflows through ECB and FCNR(B) deposit schemes and will remain data-dependent on future policy actions. Excerpts:
Petrol and diesel prices may need to be raised by another ₹5 per litre despite multiple hikes over the past three weeks, as state-run oil marketing companies (OMCs) continue to incur under-recoveries of around ₹610 crore every day amid elevated crude oil prices and fuel losses triggered by the West Asia crisis. According to Prashant Vasisht, Senior Vice President and Co-Group Head, Corporate Ratings, ICRA Ltd, OMCs are currently losing around ₹5.5 per litre on petrol and ₹4.5 per litre on diesel, even after cumulative retail fuel price increases of about ₹7.5 per litre since May 15.
In a sweeping and coordinated response to the mounting pressure on the rupee, the Centre and the Reserve Bank of India on Friday unveiled a package of measures designed to attract dollar inflows, arrest the currency’s slide and finance a current account deficit that could nearly double to 2% of GDP this fiscal year if crude oil prices remain elevated around $95 per barrel. RBI Governor Sanjay Malhotra left little doubt about the central bank’s resolve. “We shall remain vigilant, and we are fully prepared to do whatever it takes to preserve orderly market conditions,” he told reporters. He also ruled out any restrictions on capital outflows, saying no such measures were under consideration.
Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Friday announced the finding of natural gas in the Andaman Sea, a development that could strengthen India’s efforts to increase domestic energy production and reduce dependence on imported fuel. The discovery was made at the Sri Vijayapuram-3 exploratory well drilled by Oil India Ltd around 15 kilometres off the east coast of the Andaman Islands. According to the minister, the well was drilled in waters about 355 metres deep, and initial testing confirmed the presence of natural gas.
India’s economy grew 7.8% year-on-year in Q4FY26, and 7.7% YoY in FY26, according to the provisional estimates released by the Ministry of Statistics and Programme Implementation (MoSPI) on Friday. India’s real Gross Domestic Product (GDP) in Q4FY26 is estimated to grow at Rs 87.77 lakh crore, up from Rs 81.40 lakh crore in Q4FY25, showing a growth rate of 7.8%. Nominal GDP expanded 9.1% during the quarter to Rs 94.65 lakh crore. real GVA estimated to grow 7.9%, while nominal GVA increased 9.9%.
Pakistan's foreign exchange reserves are nearing the government's $18 billion target for FY26, but a widening trade deficit, mounting external payment obligations and pressure on the rupee are raising concerns about the country's economic stability, PTI reported.
Italy's economy will grow by 0.7% this year, national statistics bureau ISTAT said on Friday, trimming a previous forecast of 0.8% made in December. In its twice-yearly economic outlook, ISTAT said gross domestic product (GDP) in the euro zone's third-largest economy would expand by 0.7% also in 2027.
The World Trade Organization said on Friday there were signs global merchandise trade growth may be starting to slow, though it had shown resilience in the first half of 2026 in the face of widespread disruption sparked by the Middle East conflict.
Canada's economy added 87,800 jobs and the unemployment rate fell to 6.6% in May, data showed on Friday, defying widespread expectations of only modest employment growth and showing some resilience despite signs of softer economic growth.
Canadian economic activity expanded at a faster pace in May and inflation pressures heated up, Ivey Purchasing Managers Index (PMI) data showed on Friday. The seasonally adjusted index rose to 58.2 from 57.7 in April, marking the highest level since September.
Global oil inventories are running dangerously low as a deal to re-open tanker traffic through the Strait of Hormuz has proven elusive, and industry executives and analysts warn there could be another oil price shock in the coming weeks, severe enough to upset broader financial markets.
The American labour market proved strong in May, with the economy adding 172,000 jobs and the unemployment rate holding steady at 4.3%, according to data released by the Bureau of Labor Statistics.
Prime Minister Narendra Modi on Thursday held extensive talks with Venezuela's acting President Delcy Eloina Rodriguez Gomez on forging a long-term energy partnership, as India continues efforts to diversify its crude oil supply sources to bolster energy security. Modi, during the meeting with Delcy, signalled India's willingness to build stable and long-term energy ties with Venezuela, encompassing the upstream and downstream sectors, people said. Both leaders also explored deeper cooperation in critical minerals and mining sectors. The discussions also covered expanding commercial engagement in pharmaceuticals, animal husbandry, transportation, and agriculture for building a strong economic foundation, the people said.
Whenever you type a question into ChatGPT or any other AI chatbox or ask an AI to write your email, watch a video conjured by a generative model, a small but measurable quantity of water evaporates somewhere on earth. A new report from the United Nations University Institute for Water, Environment and Health (UNU-INWEH) has put hard figures on what was until now only vaguely understood, the full environmental toll of the world’s rapidly growing appetite for artificial intelligence. The report, which quantifies the carbon, water, and land footprints of AI’s global electricity use, finds that by 2030 data centres powering AI are projected to consume 945 terawatt-hours of electricity, nearly triple the combined annual electricity use of Pakistan, Bangladesh, and Nigeria, countries that together are home to more than 650 million people which means AI could use as much water as 1.3 billion people by 2030.
India is expected to soon unveil a policy to encourage domestic processing of lithium and nickel, two minerals that are crucial for electric vehicle (EV) batteries, news agency Reuters reported quoting sources. The proposed scheme, being prepared by the Ministry of Mines, is expected to have an outlay of around Rs 30 billion (about Rs 3,000 crore). The move is aimed at strengthening India’s supply chain for critical minerals as the country pushes to expand EV adoption and reduce dependence on imports. Reuters had first reported in January that the government was working on an incentive programme covering lithium and nickel processing. In April, the mines secretary said the government had shortlisted two critical minerals linked to securing India’s EV value chain for a processing policy, though he did not identify them.
The next wave in India is going to be the demand for data centre capacity. The data centre industry is set for huge expansion, with total installed capacity expected to nearly triple from 1.65 GW in 2025 to 5 GW by 2030. What’s driving the growth? According to Avendus Capital, the sector is benefiting from a dual growth trajectory. On one hand, the sector benefits from a rapid expansion of India’s digital economy and on the other, a rising demand for artificial intelligence (AI) infrastructure. “India’s data centre ecosystem is on a dual growth trajectory, driven by surging demand from expanding digital economy, and scaling infrastructure to support GPU deployments for AI training and inference workloads,” Avendus Capital said in its report. India’s data centre capacity is projected to grow at a compound annual growth rate (CAGR) of 26% through 2030. Developers are expected to invest around $25 billion to add more than 3 GW of new capacity over the next five years. However, AI-dedicated data centre capacity in India alone could rise from 0.3 GW in 2025 to 1.2 GW by 2030.
A day after the Union Cabinet approved a ₹10,000-crore jet fuel price stabilisation fund, the government on Thursday said domestic airlines can opt to buy aviation turbine fuel (ATF) at a fixed benchmark rate of ₹86.32 per litre for domestic operations and ₹104.49 per litre for international flights. This is meant to insulate them from global fuel prices that have surged amid the West Asia crisis. After accounting for airport charges, oil company margins and taxes, the effective selling price under the scheme works out to about ₹115 per litre in Delhi, ₹114.5 per litre in Mumbai and ₹139 per litre in Chennai, officials said. The announcement comes as international ATF prices have climbed sharply due to the West Asia conflict and the disruption of shipping routes through the Strait of Hormuz, increasing cost pressures on airlines and leading to losses for state-owned fuel retailers.
PM Surya Ghar: Muft Bijli Yojana has crossed the 40-lakh beneficiary household mark within two years of launch and is on track to reach 75 lakh households by December 2026, marking one of the fastest expansions of residential rooftop solar anywhere in the world. Union new and renewable energy minister Pralhad Joshi on Thursday said the scheme is witnessing unprecedented growth, with more than 65 lakh applications currently in the pipeline and rooftop solar installations rising from around 7,000 per month before the scheme to over 3 lakh installations a month now. “PM Surya Ghar: Muft Bijli Yojana has already crossed 40 lakh beneficiary households within two years and I am hopeful that by the end of 2026, we will cross 75 lakh households,” Joshi said at an event marking two years of the flagship
War-risk insurance premiums for tankers transiting the Strait of Hormuz have surged by more than 1,000%, pushing additional insurance costs for a typical Very Large Crude Carrier (VLCC) to as much as $7.5 million per voyage, even as intermittent ceasefires have failed to restore confidence among shipowners, charterers and insurers. The sharp escalation in insurance costs has emerged as one of the biggest barriers to the resumption of normal commercial traffic through one of the world’s most critical energy chokepoints, forcing shipowners to demand higher freight rates, reroute vessels and reassess deployments in the Gulf region. Prior to the conflict, war-risk premiums typically ranged between 0.1% and 0.3% of vessel value. Following attacks on commercial vessels, premiums jumped to 2.5%-5%, significantly increasing voyage costs and disrupting tanker economics across global energy markets.
Anthropic, one of the biggest companies in the artificial intelligence race, is finally raising a question that many in the tech world have been debating for years: What happens if AI becomes so advanced that it can improve itself without human help? In a blog post published on Thursday, the company suggested that the world may need to consider slowing down the development of the most powerful AI systems if they continue advancing at their current pace. Anthropic said such a move could give governments, researchers, and society enough time to understand the risks and put safeguards in place. The tech firm also suggested creating a global agreement that would allow countries and companies to slow development if needed, along with a way to verify that everyone follows the rules.
Goldman Sachs expects revenue from SpaceX's AI division to surge to $322 billion by 2030, up from $3.2 billion in 2025, according to the Wall Street bank's forecasts shared with a potential investor, the Financial Times reported on Thursday. The investment bank has estimated SpaceX's total revenue to reach $474 billion in 2030 from $18.7 billion last year, the report added. Goldman has forecast revenue at SpaceX's AI segment to soar 388% from a year earlier to $15.6 billion in 2026, and reach $34.5 billion in 2027, according to the report, citing a person familiar with the matter.
China's major solar panel manufacturers are ramping up higher-margin battery exports to boost revenue as growth in photovoltaic (PV) sales slows, betting on rising global demand for renewable energy storage to cut reliance on fossil fuels. The sector has been hit by weaker domestic installations, slowing exports and record-low prices, with executives expecting global demand to decline in 2026. That has pushed players including JinkoSolar, JA Solar, LONGi Green Energy and Trina Solar to accelerate expansion into battery storage, company executives told Reuters.
Senior U.S. officials held preliminary discussions with major AI companies about the potential for the government to buy some shares in their firms, digital news outlet NOTUS reported on Thursday, citing three people familiar with the matter. While the planning is ongoing and details are in flux, discussions have centered on having the firms voluntarily cede the shares to the government, the report said. The returns on the investment could then be directed to public purposes, such as distributing a dividend payment to all American households, the report said.
Airbus delivered 81 aircraft in May, up 59% from the same month last year and bringing its total deliveries to 262 so far this year, the planemaker said on Friday in its monthly report. May's tally rose sharply from 67 in April and 51 in May 2025, confirming a Reuters report from Thursday, as deliveries to China resumed after what the company described as an administrative delay that has since been resolved. Airbus, which has booked 815 gross orders since January or a net total of 762 after cancellations, aims to deliver 870 jets in 2026.
The growth of artificial intelligence is putting huge pressure on the global semiconductor industry, and the strain may not ease anytime soon. According to Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest contract chipmaker, demand for advanced chips continues to exceed what the company can produce. As AI adoption expands across industries, the gap between supply and demand is expected to remain a major challenge for years. Speaking at TSMC’s annual shareholders’ meeting in Taiwan, Chief Executive Officer C.C. Wei said the company is still struggling to keep up with customer needs. “It will be a long time before we can meet customer demand,” Wei said. AI adoption is increasing demand for advanced chips The surge in demand is mainly due to the growing use of AI technologies in consumer products, businesses and government services. AI applications require powerful processors and advanced semiconductors, creating strong demand across multiple industries.
The artificial intelligence boom has created a new group of ultra-rich tech founders. AI startup Anthropic announced on Thursday that it had raised $65 billion in fresh funding. With this, the company’s valuation has skyrocketed to a staggering $965 billion. Anthropic has now overtaken its biggest rival, OpenAI, which is currently valued at $852 billion, making it the world’s most valuable AI startup. The funding round has also dramatically increased the wealth of Anthropic’s seven cofounders. According to Forbes estimates, each founder is now worth about $16.6 billion, more than double what they were worth before the latest investment. How Anthropic’s founders compare with OpenAI’s leaders Anthropic’s billionaire founders include siblings Dario and Daniela Amodei, along with Jack Clark, Sam McCandlish, Chris Olah, Tom Brown and Jared Kaplan. Forbes estimates that each owns slightly more than 1.7% of the company.
The Reserve Bank of India's move to increase the limits for investment in India's equity markets by non-resident Indians (NRIs), individual Persons Resident Outside India (PROIs) and overseas citizens of India (OCIs) with SEBI registration is not likely to move the needle on foreign flows. The limit for individual residents under OPI or overseas portfolio investment in listed securities was 10 percent, but this has been hiked to 24 percent. The Street is unanimous in its outlook: while the policy direction is largely positive, the measures will take time to significantly move the needle on foreign flows. Participation in the segment is likely to see a gradual increase, not a sudden jump.
HDFC Mutual Fund has imposed temporary restrictions on investments in its gold exchange-traded fund (ETF) schemes amid heightened interest in gold-backed assets. The fund house said it will stop accepting subscription transactions from large investors directly into HDFC Gold ETF from June 8, 2026. The restriction will apply to investors making direct investments of at least Rs 25 crore with the mutual fund. In addition, lumpsum purchases and switch-ins into HDFC Gold ETF Fund of Fund (FOF) will be processed only up to Rs 10 lakh per PAN per calendar month at the first-holder level. The cap will apply to transactions received after the cut-off time of 3 pm on June 5. HDFC Mutual Fund said the measures are being introduced in light of prevailing economic and market conditions and will remain in force until further notice.
Banking and financial services companies foresee AI-assisted decision-making and real-time fraud prevention becoming common in the near future, as early adopters move beyond experimentation to operational deployment, according to the ET-Cisco AI Readiness & Adoption survey for the BFSI sector. Meanwhile, the broader BFSI industry’s enterprise readiness is under the spotlight, even as companies plan to scale up AI deployment. Before large-scale adoption, companies need to address key challenges around AI governance, infrastructure and data security. “The biggest barrier to moving from experimentation to production is not technology readiness, but enterprise readiness,” said Ashish Mittal, Chief Technology Officer at Tata AIG General Insurance. Implementation is often slowed by fragmented data, weak governance frameworks, integration challenges with legacy infrastructure. and difficulties in scaling pilots sustainably, Mittal said.
Japan's Nikkei share average retreated on Friday for a second consecutive session after closing at a record high earlier this week, as momentum slowed in the red-hot technology sector. The benchmark Nikkei 225 Index sank 1.3% to close at 66,588.12, eking out a 0.3% gain for the week. The broader Topix slid 0.07% to 3,949.09. The Nikkei closed at an all-time peak of 68,402.13 on Wednesday and has gained 34% so far this year. The tech-heavy Nasdaq closed lower in the U.S. overnight after chipmaker Broadcom missed revenue expectations, dampening euphoria over AI investment.
India should stop “selling itself short” over near-term economic challenges as its long-term growth trajectory remains firmly intact, said Jane Fraser, Chair and Chief Executive Officer of Citi, on Thursday. “India’s got to stop selling itself short. There are some short-term headwinds, but the long-term India story is very much intact,” Fraser said at the Citi India Conference. Despite geopolitical tensions and trade-related uncertainties, she said India’s structural growth drivers remain strong. Fraser noted that Prime Minister Narendra Modi appeared committed to addressing bottlenecks and improving the ease of doing business, which would be critical for attracting greater foreign investment.
Artificial intelligence has become the defining investment story of the past two years, lifting stock markets, creating trillion-dollar companies and driving unprecedented demand for advanced chips. However, billionaire investor Ray Dalio believes the excitement surrounding AI is also showing familiar signs of a market bubble. The founder of Bridgewater Associates said while speaking to Bloomberg Television on Wednesday that investors should be careful not to confuse belief in the technology with belief in the stocks tied to it. His warning comes at a time when AI-related companies are among the biggest winners on Wall Street, with investors pouring billions of dollars into chipmakers, data-centre operators and AI infrastructure firms. Every great technology creates a bubble, says Dalio Dalio claimed that history shows major technological breakthroughs often trigger periods of excessive optimism and speculation. “All great technology changes produce bubbles,” Dalio told Bloomberg TV. “Nobody can get it exactly right.”
The Reserve Bank of India (RBI) on Friday unanimously voted to keep the benchmark repo rate unchanged at 5.25 per cent, with the Monetary Policy Committee (MPC) retaining its neutral stance as policymakers weighed mounting inflation risks from elevated crude oil prices, a weakening rupee, and concerns over a below-normal monsoon against the need to support economic growth. The six-member MPC, chaired by RBI Governor Sanjay Malhotra, also left the Standing Deposit Facility (SDF) rate unchanged at 5 per cent and the Marginal Standing Facility (MSF) rate and Bank Rate at 5.5 per cent. The committee decided to continue with the neutral policy stance, signalling flexibility to respond to evolving inflation and growth dynamics.
The Foreign Direct Investment (FDI) equity inflows into the country increased 18% on year to $ 58.8 billion in 2025-26 with major boost provided by investors in computer software and hardware sectors, an analysis by the Department for Promotion of Industry and Internal Trade (DPIIT) said. Overall FDI last year – which included reinvested earnings and other capital – was up 17% on year to $ 94.5 billion. In the January-March quarter the FDI equity investments grew 17.5% on year to 10.9 billion. The net investment by Foreign Portfolio Investors (FPI) was in the negative. They pulled out $ 15.5 billion from India in 2025-26.
Income-tax (Amendment) Ordinance, 2026 Notified: Govt Gives Tax Relief on G-Sec Investments for FIIs- So the Centre has officially issued and promulgated the Income-tax (Amendment) Ordinance, 2026, which I guess is meant to be a rather big tax relief for Foreign Institutional Investors (FIIs). It basically waives capital gains and also interest income earned from investments in government securities, the so-called G-Secs. It was published in the Gazette of India on Friday and the Ordinance is amending the Income-tax Act, 2025, and, importantly, it has been applied retrospectively starting from April 1, 2026. In plain terms, India is making its sovereign debt market more appealing for overseas investors, because the tax friction on G-Sec returns is being removed. This step is being read as a strategic nudge to lift foreign participation, especially when global capital flows are still very sensitive to uncertainty and changing risk appetite. Extension Of Benefit To Bank For International Settlements The Income-tax (Amendment) Ordinance, 2026 sort of also extends a similar tax exemption to the Bank for International Settlements (BIS), widening the relief beyond Foreign Institutional Investors. Under that provision, any interest that BIS earns on government securities, and also any capital gains that arise from the sale, exchange, or transfer of such securities by BIS, will be completely exempt from taxation. This step seems to fit the larger aim of encouraging broader involvement in India’s sovereign debt market and making it more appealing to some major global financial institutions, in a way.
Australia's AirTrunk said on Friday it would invest $30 billion in India within the next four years to build out 5 gigawatts of new data centre capacity in the South Asian nation. Sydney-headquartered AirTrunk, backed by Blackstone and Canadian Pension Plan Investment Board (CPPIB) entered the Indian market in April with its purchase of Lumina CloudInfra.
Share price of Bharat Heavy Electricals (BHEL) rose more than 2% as the company announced it has bagged an order worth Rs 21,000 crore for the development of a thermal power plant in Uttar Pradesh. BHEL: Order key details BHEL has been awarded this order by Meja Urja Nigam Private (MUNPL), which is a joint venture company between NTPC and Uttar Pradesh Rajya Vidyut Utpadan Nigam (URRVUNL). The order is domestic in nature and has a value of over Rs 21,000 crore (exclusive of GST).
India’s IT services company, Tata Consultancy Services (TCS), has announced a strategic partnership with Finland-based premium tyre maker Nokian Tyres to expand the use of artificial intelligence (AI) across its IT operations. Under the agreement, TCS will help Nokian Tyres adopt AI-driven solutions in application management, development, and onsite support services. The move aims to improve efficiency, scalability, and resilience across the company’s IT infrastructure.
Rajesh Exports, which came under scrutiny after the Indian markets regulator alleged inflated financial disclosures, has refuted the claims. The revenues declared are correct and there is no over-statement of the same, the company said in an exchange filing on Thursday. “There seems to be some type of communication gap and confusion between SEBI (Securities and Exchange Board of India) and the company,” it added. The matter pertains to Sebi’s ex-parte interim order issued on Wednesday to further investigate the Bengaluru-based company and its Chairman Rajesh Mehta for allegedly misrepresenting ₹15 lakh crore of revenues over 5 years till FY25.
Tata Sons, the holding company of $150-billion Tata Group, infused an additional Rs 5,166 crore into loss-making telecom subsidiary Tata Teleservices during FY26, thus increasing its stake in the unlisted company to 94.3% and helping the company pay government dues. The capital infusion highlights the continued support being extended by the Tata Group’s holding company to some of its loss-making businesses. Along with Air India and Tata Digital, Tata Teleservices is to be discussed at the Tata Sons board meeting scheduled for June 12. The Tata Sons board is also slated to consider the group’s annual accounts and dividend payout to its shareholders, say group sources.
The Reserve Bank of India in Friday's monetary policy review revised its inflation forecast upward for FY27, reflecting the sharp uptick in food prices and retail inflation readings amid the ongoing West Asia crisis. Amid global uncertainties, the RBI has projected consumer price inflation (CPI) at 5.1% for FY27, up from 4.6% estimated in the April policy review.
The Reserve Bank of India on Friday lowered its FY27 GDP growth forecast to 6.6% from 6.9%, citing rising risks from the ongoing West Asia conflict, elevated energy prices, supply disruptions and weather-related uncertainties, while keeping the benchmark repo rate unchanged at 5.25%. The central bank now expects GDP growth of 6.6% in the first quarter, 6.3% in the second quarter, 6.5% in the third quarter and 6.8% in the fourth quarter of FY27.
The Reserve Bank of India on Friday unveiled a series of measures aimed at attracting more foreign capital into the country, as policymakers seek to strengthen external finances amid global uncertainty and pressure on the rupee. The steps, announced by Governor Sanjay Malhotra after the monetary policy decision, include wider access for foreign investors to government bonds, easier investment rules for overseas Indians and foreign residents, and incentives for companies and banks to raise funds from abroad.
India and the US on Thursday wrapped up another round of discussions on an interim trade deal, as both sides sought to bridge gaps in their respective positions. A statement issued by the government after the conclusion of the bilateral talks that began on Monday was, however, non-committal on whether India’s demand for a tariff advantage in the US market in relation to its key Asian competitors was accepted by the US side. On Wednesday, even as the talks were on, Washington proposed additional duties of 12.5% on 44 countries, including India, under Section 301 of its Trade Act for their alleged failure to enforce a ban on forced labour.
Aditya Birla Group Chairman Kumar Mangalam Birla said India is passing through a historic phase of transformation that offers a once‑in‑a‑generation opportunity to emerge as a global economic powerhouse. While speaking at the public valedictory of the RSS Karyakarta Vikas Varg‑Dwitiya at Reshimbagh Ground in Maharashtra’s Nagpur, the industrialist highlighted the country’s demographic strengths, infrastructure expansion, digital reforms and financial inclusion as the pillars of this “Amrit Kaal” vision. “India today benefits from a rare convergence of demographic dividends, favourable economic tailwinds, world‑class infrastructure development, digital public platforms and financial inclusion,” Birla said. “Together, these factors provide a historic opportunity to take the country to new heights.”
The newly elected United Democratic Front (UDF) government on Thursday tabled a White Paper on Kerala’s finances in the state Assembly, revealing mounting public debt, rising liabilities and persistent treasury stress that together paint a worrying picture of the state’s fiscal health. According to the report, Kerala’s total public debt has surged to Rs 5.07 lakh crore, while pending liabilities stand at Rs 48,733 crore, including unpaid dearness allowance (DA) and dearness relief (DR) arrears owed to government employees and pensioners.
The government is reinforcing its import substitution policies, even as tariffs for foreign goods are being whittled down under a flurry of bilateral free trade agreements. It has constituted six working groups to finalise a list of 100 products currently not being manufactured in India at the required scale for focused policy support to boost local production. The six groups will focus on electronics, pharmaceuticals and medical, capital goods, auto and electric vehicles, advanced capital goods, chemicals, construction equipment, defence and aerospace, and energy.
India and Venezuela on Thursday agreed to deepen energy cooperation and explore a long-term partnership across the oil sector, as New Delhi ramps up crude diversification and Venezuela emerges as one of the country’s fastest-growing sources of crude supplies. At a press conference following Prime Minister Narendra Modi’s meeting with Venezuelan Acting President Delcy Rodriguez, the Secretary (East) at the Ministry of External Affairs, Rudrendra Tandon said that the discussions focused on forging an energy partnership.
At a time when global uncertainties continue to keep financial markets on edge, the Reserve Bank of India (RBI) has announced a slew of measures aimed at attracting more foreign capital into the country. The announcements came alongside the central bank’s latest monetary policy decision, where the Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 5.25%.
Mexico's economy could grow more than the OECD's latest forecast, Finance Minister Edgar Amador Zamora said in an interview with newspaper Milenio published late on Wednesday, arguing that a planned surge in public investment and government measures to contain inflation would support activity. • The OECD now expects Mexico's economy to expand 0.8% in 2026 and 1.8% in 2027, though it warned that growth would be held back by trade tariffs, slower U.S. growth, global uncertainty and fiscal consolidation that would keep public investment contained.
San Francisco Federal Reserve President Mary Daly on Thursday said that while she believes AI over a five- to 10-year window could be a deflationary force, the effect is "not a pressing issue" for monetary policy which operates on a 12-month horizon. Daly, at a Bloomberg Tech event in San Francisco, also said she also does not think that AI is behind the current rise in inflation, which being driven by higher tariffs and, more recently, by higher energy and food prices since the start of Iran war.
Japan's real wages climbed 1.9% in April from a year earlier, government data showed on Friday, marking a fourth consecutive monthly gain, as higher special payments boosted overall earnings and improved household purchasing power. Here are a few details: • The Bank of Japan, which will next review its interest rates on June 15 and 16, considers steady rises in wages and prices as a prerequisite for another hike. The Japanese central bank is expected to raise interest rates this month unless a sharp escalation in the Middle East conflict roils markets, sources told Reuters.
The European Central Bank is expected to hike interest rates next week, becoming the first of the biggest central banks to do so since the Iran war unleashed an energy crisis that is stoking inflationary pressures in the euro zone. But with the economy of the 21-country bloc weaker than during Europe's previous energy crisis in 2022, policymakers are walking a tightrope as they try to contain rising prices without exacerbating the growth hit from the crisis.
U.S. employment growth likely moderated in May after two straight months of strong gains, but the pace would probably remain consistent with stable labor market conditions. Economists expected the Labor Department's closely watched employment report on Friday to confirm that the Middle East conflict, which has stoked inflation through a surge in oil prices, was yet to have material impact on the jobs market.
India's exports of refined petroleum products fell to about 930,000 barrels per day (bpd) in May, their lowest level since October 2022, as refinery maintenance, changing production priorities and stronger domestic demand curtailed overseas shipments. Exports declined to around 930,000 bpd, down to levels last seen when shipments averaged 926,000 bpd in October 2022, reflecting a combination of lower refinery throughput and a growing focus on supplying the domestic market, according to data analytics firm Kpler. "This sharp cutback was driven by a combination of lower refinery throughput, maintenance activity, and a structural pivot toward the domestic market," said Sumit Ritolia, model and refining manager at Kpler. A key factor behind the decline was planned maintenance at Reliance Industries' Jamnagar refining complex, India's largest refinery and a major exporter of refined fuels.
Artificial intelligence (AI) may be dominating boardroom discussions, investor presentations and government policy agendas, but the real battle for long-term control of the technology will ultimately be fought in semiconductors, according to Gilroy Mathew, chief operating officer of AI and technology solutions company UST. As countries and technology companies race to secure semiconductor supply chains amid surging demand for AI infrastructure, advanced computing and connected devices, Mathew argues that chips, not AI applications, will determine who controls the economics, scalability and strategic power of the next technology era.
India will pilot hydrogen-powered buses and trucks on 10 roads across the country, Union Minister for Road Transport and Highways Nitin Gadkari said on Thursday, adding that major conglomerates including Reliance Industries, Tata Group, NTPC and Ashok Leyland have joined the initiative. "We have undertaken a pilot project that on 10 roads of India hydrogen buses and trucks will start. Reliance, Tata, NTPC, Ashok Leyland and many others have joined hands with us for this. We have started making hydrogen," Gadkari said.
India's federal Ministry of Mines is expected to shortly unveil a policy with incentives to process lithium and nickel with an outlay of around Rs 3,000 crore ($313.48 million), according to two sources familiar with the matter. The sources did not want to be identified publicly because they were not authorised to speak to the media. The mines ministry did not immediately respond to a Reuters email seeking comment. In January, Reuters reported that the incentive policy would cover lithium and nickel.
India's push to tighten power grid discipline is colliding with its clean energy ambitions as tougher rules for solar and wind projects alarm investors, who warn the requirements could slash returns and impede investment needed for the energy transition. The most-feared regulations, due to take effect in April 2027, sharply increase penalties when renewable power producers fail to deliver electricity matching their commitments to the grid, according to industry executives, investor presentations and documents reviewed by Reuters. Industry groups estimate the tougher regime could cut revenue by about 11% for solar projects and as much as 48% for wind farms, fuelling concerns that India could make renewable investments less attractive just as it seeks billions of dollars to expand clean energy capacity.
India's Global Capability Centres (GCCs) — in-house technology and operations hubs set up by multinational corporations — have taken the lead as one of the fastest-growing segments of the country's technology sector, outpacing the traditional IT services sector on several metrics. Behind the trend driving the rapid expansion of GCCs in India is the corporate need for control. Industry stakeholders say that the shift from outsourcing services to relying on in-house capabilities allows multinational companies to better manage intellectual property, proprietary technologies and sensitive data.
The West Asia conflict is expected to dent the profitability of the domestic auto component sector, with operating margins likely to soften to 10.5–11% in FY27 from around 12% last year amid rising raw material and freight costs, Crisil Ratings said on Wednesday. Raw materials account for nearly three-fourths of the sector’s total cost, with steel and aluminium together comprising 50–60% of input expenses. Both commodities have witnessed sharp price increases in recent months. Despite the cost pressures, Crisil expects the sector’s revenue to grow 9–11% this fiscal, helping stabilise absolute operating profits even as margins narrow. Demand from original equipment manufacturers (OEMs), which contribute more than two-thirds of sector revenues, is expected to remain steady. New passenger vehicle launches, infrastructure-linked commercial vehicle activity, continued premiumisation in the two-wheeler segment, and rising electric vehicle (EV) adoption are expected to support demand. The aftermarket segment also remains stable, backed by a large installed base of vehicles sold in previous years.
India’s top IT services companies are rapidly scaling artificial intelligence adoption, with Infosys, Tata Consultancy Services (TCS) and Wipro each deploying Microsoft 365 Copilot to more than 100,000 employees, Microsoft said on Wednesday. The milestone takes the combined number of Copilot licences across the three firms to over 300,000, more than double the 150,000 licences announced by Microsoft and the companies in December last year. The expansion highlights how large technology services firms are moving beyond AI pilots and integrating generative AI tools into day-to-day operations across engineering, delivery and corporate functions.
The government's wheat procurement rose 17 per cent to over 35 million tonne in the 2026-27 rabi marketing season, surpassing both the target of 34.5 MT and the previous year's procurement of 30 MT, a senior food ministry official said on Wednesday. "Wheat procurement has crossed 35 million tonne so far this season. We have exceeded the target. Procurement in major producing states has been completed," the official told PTI. The Food Corporation of India (FCI) and state agencies procure wheat at the minimum support price (MSP) to meet requirements under the National Food Security Act and other welfare schemes.
Both the European Union and the United States are committed to complying with their trade agreement, U.S. Trade Representative Jamieson Greer said on Wednesday after broad new tariff threats over forced labour rankled Washington's trade partners. After the two sides struck a framework agreement at U.S. President Donald Trump's Turnberry golf resort in Scotland last July, the EU is still in the process of ratifying the deal, prompting Trump to say he would impose "much higher" tariffs if the bloc does not implement its commitments by July 4. "Both sides are committed to compliance with the trade agreement," Greer told France 24 in an interview. "We think there is a lot of room for compliance on both sides," he added. Greer's comments came after the Trump administration proposed new tariffs of up to 12.5% on imports from 60 economies, saying they had failed to curb trade in goods made with forced labor, an assertion rejected by its trading partners. The EU was hit with 10% tariffs over the issue. Greer said the announcement should not have come as a surprise as the investigation had been underway for months, but did not see it holding up the U.S.-EU deal in the European Parliament.
Cuba will suspend Visa and Mastercard transactions starting June 6, its central bank said on Wednesday, citing sanctions imposed by the United States that in recent days have led a swath of foreign businesses to sever ties with the Caribbean island. Cuba's central bank said a foreign partner that had previously processed credit card transactions for Cuba had decided to limit operations following a U.S. executive order on May 1 that vastly broadened sanctions on commerce with Cuba. "As a result of this decision, Cuba is unable to receive income from the sale of goods and services through internationally recognized cards such as VISA and MASTERCARD," the central bank said in a statement. The order is another blow to Cuba's economy and already decimated tourism industry, as the Trump administration ratchets up sanctions in a bid to upend the island's Communist-run government. Credit card transactions have historically been handled by a foreign bank and Fincimex, S.A., a financial arm of GAESA, a military-run conglomerate targeted with sanctions by the administration of U.S. President Donald Trump. The United States accuses GAESA of secretly hoarding profits from the country's most valuable industries — including tourism, financial transactions, remittances and logistics — and using them for the benefit of the military and Cuban elite.
EU steel exports to the U.S. have fallen by 34% since Washington hiked tariffs to 50%, with higher duties on derivative products such as washing machines and motorbikes also hitting European demand, steel industry association Eurofer said on Thursday. Steel exports to the U.S. fell to 1.94 million metric tons in the three quarters since the Trump administration doubled import tariffs on steel and aluminium from 25% a year ago. European Union producers exported 3.4 million tons to the United States in 2025, compared with 4.1 million tons in 2024 and 4.7 million tons in 2017, Eurofer said. Eurofer said it was important the EU and the U.S. carried out their trade deal struck last July in full. That agreement, struck at President Donald Trump's Turnberry golf course in Scotland, sets out that the EU should remove its duties on most U.S. goods imports in return for a broad 15% U.S. tariff on EU exports. It also said the two sides should discuss possible tariff-free steel and aluminium quotas and cooperation to address global overcapacity. Axel Eggert, Eurofer director general, said the U.S. needs to fulfil its commitment to work with the EU to find a solution.
Taiwan's TSMC, the world's largest contract chipmaker, is confident in its growth over the next few years, thanks to robust demand for computing power and advanced semiconductors as it rides a relentless AI boom, its CEO said on Thursday. C.C. Wei, speaking at TSMC's annual shareholders' meeting in the Taiwanese city of Hsinchu, said customers are still positive on the outlook for artificial intelligence, although the company continues to monitor the impact of rising component costs. "We continue to see increasing adoption of AI models across consumer, enterprise and sovereign AI applications," Wei said, adding that while the company is working very hard, demand is high and it can only produce so much. "This trend is driving demand for greater computing power, which in turn supports strong demand for advanced semiconductor chips."
The RBI rejected all bids for 182-day and 364-day treasury bills while accepting only 91-day bills at auction on Wednesday, signalling its discomfort with rising short-term yields ahead of the monetary policy decision due Friday. The RBI sold 91-day treasury bills at a yield of 5.56%. The central bank typically rejects bids when it finds yields too high, and the move is seen as a signal that it wants interest rates to soften. The decision comes as the MPC began its meeting to decide on interest rates, with the outcome scheduled for Friday and expectations that rates will be held. Yields on govt bonds fell after the auction. This is the second instance in under three months where the RBI has cancelled treasury bill sales. Yields on one-year paper have risen by 40 basis points this fiscal due to the rupee coming under pressure.
India's red-hot initial public offering market may look irresistible as foreign firms line up for listings, but the rush is not about raising funds to expand in a fast-growing market; it's about sending billions of dollars back to headquarters. Just one of six foreign-based companies that listed their Indian units in Mumbai since 2024 raised new funds, with all others structured purely as secondary offerings - or offer for sale (OFS), where existing shareholders sell their holdings to the public without raising any new funds, according to data from Prime Database, an Indian market research firm.
IIFL Finance has raised $500 million by selling international dollar bonds to investors across the world in an issue which was priced on Wednesday. The 3.25 year issue was priced at 7.6% after building an order book of close to $2 billion from large institutional investors. This is the first dollar bond issued out of India since January, when ReNew Energy raised $600 million by issuing a five-year bond. Since then, geopolitical tensions, particularly stemming from the US-Israel attack on Iran, have led to high overseas yields which are beyond the expectations of Indian companies looking to raise funds from abroad. Nirmal Jain, founder and managing director at IIFL Finance, told ET the successful issue comes at a time of heightened volatilities, pressure on the rupee and capital outflows from India.
India’s money-market turnover jumped to a record as state-owned lenders stepped up borrowing to fund booming credit demand. The value of trades in the so-called tri-party repurchase segment, which accounts for about 70% of the nation’s money markets, rose to an all-time high of 5.5 trillion rupees ($57.8 billion) on May 13 and has stayed elevated since, according to Bloomberg-compiled data. India’s economic growth has held up well despite the energy crisis caused by the US-Iran war, preserving credit demand. State Bank of India is seeing strong loan uptake from sectors including power, renewables and data centers, Chairman CS Setty said Wednesday.
The resilience of banks will shift from fixing known balance-sheet stress to managing complexity and uncertainty, Reserve Bank of India Deputy Governor Swaminathan J said while speaking at Columbia University on Monday. The speech was uploaded on the regulator’s website on Wednesday. “Recent years have shown that shocks can arise from very different sources: pandemics, geopolitical tensions, supply chain disruptions, commodity price volatility, cyber incidents or sudden shifts in market sentiment. The task, therefore, is not only to prepare banks for known risks, but also to make them adaptable to risks whose timing, form and transmission may be difficult to predict,” said Swaminathan. He said growth in retail, digital and microfinance lending has widened access and thus requires stricter underwriting, fair recovery practices and close monitoring of borrower leverage.
Reserve Bank of India (RBI) Deputy Governor Swaminathan J urged that banking-sector resilience should be deliberately built rather than left to chance, laying out five pillars of ‘resilience by design.’ Drawing on India’s post-2015 banking reforms, he argued that transparent stress recognition, stronger balance sheets, sharper supervision, adaptive regulation, and resilient internal bank practices have made the system sturdier- and that work must continue as new risks emerge. Transparent recognition of stress The first pillar, Swaminathan J said, is the transparent recognition of stress. He cited the post-2015 Asset Quality Review as a turning point, “Recognition required banks to provision, owners to recapitalise, borrowers to negotiate, supervisors to intervene, and markets to reassess risk. Transparency changes incentives.”
The Insolvency and Bankruptcy Board of India (IBBI) has changed the way defaults are authenticated and recorded under the insolvency and bankruptcy code (IBC). A notification by the board has outlined a framework under which if a debtor disputes a default, the Information Utility (IU) will put it in a separate category called “Information of Dispute”. In cases where a debtor confirms a default, an authenticated “Record of Default” will be issued. This is a crucial step because the dispute handling is a fairly ambiguous process under the IBC, and the latest amendment resolves this by ensuring that there’s a transparent and formal process to record and communicate disputes. This also impacts the initiation of insolvency proceedings.
India is preparing to roll out new measures aimed at attracting more foreign money into the country, with key decisions likely to be taken as early as this week. According to Bloomberg, citing people familiar with the matter, the Union Cabinet is expected to discuss a major reduction in the taxes that foreign funds pay when investing in Indian bonds. Interest tax on bonds also under review The Cabinet is also expected to examine the future of the 20% tax currently imposed on interest earned from bonds. According to Bloomberg, officials are weighing two options: either scrapping the levy altogether or reducing it to a very low level. The proposal is still under consideration, and a final decision could be taken after Cabinet discussions.
Maruti Suzuki on Thursday launched what it described as India's first flex-fuel passenger car, positioning the technology as a key pillar in the country's efforts to reduce crude oil imports, lower carbon emissions and strengthen energy security. Speaking at the launch event, Managing Director and CEO Hisashi Takeuchi said the introduction of the flex-fuel Wagon R marked more than the debut of a new vehicle and represented "a new chapter in India's energy journey." The company unveiled the vehicle in the presence of Union Road Transport and Highways Minister Nitin Gadkari and Petroleum and Natural Gas Minister Hardeep Singh Puri, both of whom have championed the use of alternative fuels and domestic energy sources. Highlighting India's dependence on imported crude oil, Takeuchi said the country needed energy solutions that were "cleaner, affordable, scalable, and based on India's own strengths."
Wind turbine manufacturer Suzlon Energy launched the Suzlon 2.0 initiative, transforming the company from a wind energy equipment and solutions provider into a full-stack renewable energy company. This new direction includes offering wind, solar, and battery energy storage solutions (BESS) as a comprehensive package, along with energy management services. Suzlon has set ambitious growth targets for the fiscal year 2031, aiming to increase its annual renewable energy sales fourfold to 10 GW, expand its order book to 15 GW, and grow its Assets Under Management (AUM) to 70 GW. The company is also re-entering the global market, targeting 3 GW in export orders by FY31, supported by its next-generation high-capacity 5 MW and 6.3 MW wind turbines.
Five years after reporting losses of nearly Rs 4,000 crore and undertaking large-scale layoffs during the pandemic, Oyo is showing signs that a sweeping overhaul of its business model is paying off. Prism, Oyo’s parent company, reported a consolidated revenue of Rs 6,253 crore in FY25, up 16% year-on-year, while profit after tax stood at Rs 245 crore, up 6.5% from the previous year. Earnings before interest, taxes, depreciation and amortisation (Ebitda) rose to Rs 1,083 crore, marking the company’s twelfth consecutive Ebitda-positive quarter, according to its annual report. In the first quarter of FY26, Oyo said provisional profit after tax crossed Rs 200 crore, more than double the Rs 87 crore reported a year earlier, while revenue rose 47% to Rs 2,019 crore. The turnaround follows a fundamental shift away from the growth-at-all-costs strategy that defined Oyo’s early years.
The Securities and Exchange Board of Inda (SEBI) has ordered an investigation into Rajesh Exports and its Executive Chairman Rajesh Mehta for allegedly misrepresenting financial statements aggregating ₹15 lakh crore. This represents 99.8% of the company’s total consolidated revenue during FY21-FY25. The regulator also restrained Mehta from trading the company’s securities in any form until further orders. A series of violations were found, as per Sebi’s interim order, including non-disclosure of material consolidated financial information, non-availability of financial statements of subsidiaries and step-down subsidiaries, non-availability of information at consolidated levels, misrepresentation of financial statements in annual reports, false claim of investment in gold mine in Africa, and non-cooperation by the company and its chairman, as per Sebi’s interim order. Regulator says company hampered SEBI’s probe The regulator alleged that the company hampered its probe by not providing the required financial information and “furnishing varying and inconsistent submission” at different stages of investigation.
Coal gasification has so far saved Rs 28,000 crore in foreign exchange by reducing reliance on imported oil, methanol and ammonia, govt said recently as it prepares to launch the second phase of the programme. At a recent meeting with investors, coal ministry said the first phase of scheme, launched in 2023-24, had mobilised Rs 85,000 crore in investments and enabled utilisation of 23 million tonnes of coal annually.
India's economy has remained resilient despite geopolitical tensions, supply-chain disruptions and volatile commodity prices, supported by strong industrial and services activity, broad-based demand and improving corporate performance, RBI Deputy Governor Swaminathan J said. In a speech at the School of International and Public Affairs (SIPA), Columbia University, the Deputy Governor said inflation remains within the Reserve Bank of India's tolerance band and external-sector vulnerabilities are manageable.
India's target of achieving 500 GW of non-fossil fuel capacity by 2030 could generate more than 44 lakh full-time equivalent (FTE) jobs, with rooftop solar emerging as the single largest employment generator, accounting for nearly 43% of the total, according to a new study. The findings are significant as rooftop solar gains momentum across the country.
The government is already supporting the economy amid the ongoing West Asia crisis by not allowing the full impact of rising global oil prices to be passed on to consumers, according to Gita Gopinath, former Deputy Managing Director of the International Monetary Fund (IMF). In an exclusive interview with ANI, Gopinath said the limited increase in retail fuel prices by the Indian government, despite a sharp rise in international crude oil prices, has effectively acted as an implicit subsidy for households and businesses.
The India-Oman trade pact provides significant market access opportunities for the textiles and apparel sector, placing India in a strong position to expand its exports and consolidate its presence in a key Gulf market, the government said on Wednesday. The India-Oman Comprehensive Economic Partnership Agreement (CEPA), which came into force on June 1, 2026, marks a major milestone in strengthening the economic and strategic partnership between the two countries.
Former International Monetary Fund (IMF) chief economist and Deputy Managing Director Gita Gopinath has warned that elevated oil prices could trim India’s growth down toward 6 per cent, below the International Monetary Fund’s current forecast of 6.5 per cent, as higher energy costs sap consumption and investment. Gopinath said the effects of the oil price shock are likely to persist well into next year and that a prolonged conflict in West Asia could make the downside risks substantially worse.
State Bank of India Chairman CS Setty on Wednesday said that a pause in the policy rates by the Reserve Bank of India’s monetary policy committee would help stabilise conditions and support economic growth. “Broadly, the market expects that there could be a rate pause at this juncture. Inflation dynamics remain important, but I think a pause would definitely help stabilise conditions and ensure smooth growth,” Setty said at the Citi India Conference 2026. The three-day MPC meeting will announce their outcome on June 5.
India could face higher inflationary pressures in FY27 as deficient monsoon rains and persistent heatwave conditions threaten agricultural output across major crop-producing regions, economists have warned. In its latest monsoon forecast, the India Meteorological Department (IMD) projected rainfall during the June-September season to remain 10% below normal, or around 90% of the long-period average (LPA). The revised estimate is weaker than the IMD‘s earlier forecast of rainfall being 8% below normal.
The US has proposed an additional 12.5% Trump Tariff on imports from India and 43 other countries, on the grounds their exports contain inputs produced by forced labour. The move is seen as an attempt by the US administration to retain leverage in ongoing trade negotiations. The proposed duties, announced after an investigation into the policies of 60 countries that together account for more than 99% of US imports, will replace the existing 10% tariff imposed under Section 122 of the Trade Act. Those duties are due to expire on July 24. For 16 other countries covered by the investigation, the US has proposed an additional tariff of 10%.
Consumer-facing businesses are bracing for turbulence. A weakening monsoon forecast—driven by El Niño conditions—threatens to erode rural demand, the one engine that has kept FMCG companies, automakers and appliance manufacturers moving even as urban recovery sputtered. With the festive season on the horizon, the stakes could not be higher.
After unleashing 'Epic Fury' on Iran, the United States has launched another front to step up its pressure on the country. The US, on Tuesday, imposed sanctions on Iran's largest cryptocurrency exchange, Nobitex, and several of its senior executives, accusing the platform of helping the Iranian government and sanctioned entities bypass Western restrictions.
Brazil's trade surplus reached $7.8 billion in May, official data showed on Wednesday, above market expectations, as higher prices drove export growth at a faster pace than imports.
Australia's balance on goods trade swung back into surplus in April after a surprise deficit the month before, data showed on Thursday, as a rebound in resource exports helped offset a surge in fuel imports. The Australian Bureau of Statistics reported the balance on goods recorded a surplus of A$1.8 billion ($1.28 billion) in April, bang in line with market forecasts. March had seen the first deficit since 2017 at A$1.0 billion.
Indonesia's parliament on Thursday passed sweeping legislation that places further emphasis on Bank Indonesia supporting economic growth, while empowering lawmakers to evaluate independent financial regulators and the central bank. Parliament passed the bill by acclamation, with support from all parties, according to the deputy speaker, Sufmi Dasco Ahmad, who led Thursday's plenary session.
Activity in the US services sector expanded in May, according to survey data released Wednesday, beating expectations and continuing to show strong performance despite respondents citing rising cost pressures.
India’s fuel exports tumbled to the lowest level in nearly four years in May as a push to ensure domestic supplies during the Iran war shock along with refinery maintenance curbed overseas flows. Outbound shipments of products including diesel, gasoline and jet fuel averaged about 878,000 barrels a day last month, the lowest since October 2022 and down 31% from a year earlier, according data analytics firm Kpler Ltd. The conflict in the Middle East has led to the near-closure of the crucial Strait of Hormuz, choking off flows of crude and fuels to global customers, including India. Nations across Asia scrambled to ensure domestic requirements wouldn’t be significantly disrupted by the war by curbing some of their exports.
More than 80% of India’s diesel exports in May headed to Africa as demand from Asia and Europe weakened and geopolitical tensions reshaped global diesel trade flows. India exported 394,000 barrels per day (bpd) of diesel in May, compared with 376,000 bpd in April and 399,000 bpd in February, according to energy cargo tracker Kpler. About 327,000 bpd, or 83% of total exports, went to Africa in May, against 32% in April and 64% in February. No diesel was exported to Europe, while shipments to Asia fell 76% to 40,000 bpd in May. “This shift (from Asia to Africa) is due to improved refinery runs across the broader Asian region this month, as China's crude appetite fell to a 10-year low, freeing up crude availability for other Asian refiners,” said Nikhil Dubey, lead analyst - refining at Kpler.
In India, a car doesn't just come with keys; it comes with visibility. For decades, that visibility was expected to arrive factory-fresh. But as aspirations race ahead of incomes, a growing number of Indians are discovering that status doesn't have to be showroom-new. The country's booming used-car market is proving that the shortest route to a bigger badge may be through a previous owner. The old assumption, that Indians buy a small new hatchback first, then slowly climb the ownership ladder over the years, is starting to crack. A growing number of buyers are simply bypassing the “starter car” phase entirely.
Revenue of India’s cable and wire (C&W) manufacturers is expected to rise 28-30% in FY27, driven by 18-20% price hikes to offset soaring raw material costs, even as the sector continues to benefit from a ₹10-12 lakh crore investment pipeline across power, renewable energy, real estate, data centres and smart meters, according to Crisil Ratings. The sharp growth outlook comes after the industry delivered more than 20% volume-led growth in FY26, with demand continuing to be supported by infrastructure-linked sectors amid rising power consumption, urbanisation and digitisation. An analysis of 17 cable and wire manufacturers, accounting for nearly 70% of the organised sector’s ₹1 lakh crore revenue, indicates that volumes are expected to grow around 10% this fiscal despite higher prices. Organised players account for nearly two-thirds of the overall industry revenue.
A wave of AI-driven layoffs across global technology companies, coupled with growing uncertainty around immigration policies in the US, is prompting an increasing number of Indian professionals overseas to consider returning home, according to affected employees and recruiters. Last week, Meta cut about 8,000 jobs globally, with several Indian-origin employees in the US and the UK among those impacted. The move follows Amazon’s ongoing workforce reduction programme, under which the company has announced 16,000 job cuts this year, in addition to 14,000 layoffs announced in October 2025. For many Indian professionals abroad, the latest round of job cuts has accelerated plans that were already under consideration.
Households planning to install rooftop solar systems may have to pay more as the domestic content requirement (DCR) for solar cells comes into force from June 1, with industry estimates suggesting installation costs could rise by around ₹4,000-6000 per kilowatt, translating into an additional ₹20,000-₹30,000 for a typical 3-kW rooftop system. The mandate requires solar projects connected through net-metering and open-access arrangements to use domestically manufactured solar cells, a move aimed at strengthening India’s solar manufacturing ecosystem and reducing dependence on imported equipment. The cost impact is expected to be most visible in the rooftop solar segment. Alekhya Datta, Director, Electricity and Renewables Division at TERI, estimated that a typical 3-kW rooftop solar system using DCR-compliant equipment could cost between ₹1.8 lakh and ₹2.1 lakh, compared with around ₹1.5 lakh for a non-DCR system, implying an additional cost of about ₹30,000.
In a further tightening of import norms for silver, the government on Tuesday mandated that imports be routed through RBI-nominated agencies, Directorate General of Foreign Trade-approved entities and qualified jewellers authorised by the IFSCA via the India International Bullion Exchange against a valid import authorisation. The import authorisation will be issued by the DGFT. Last month, the government raised import duty on gold and silver to 15% to curb non-essential imports amid the West Asia crisis. Silver imports in April jumped 157% year-on-year to $411 million. In a notification, the DGFT said that import of silver (including silver plated with gold or platinum), unwrought or in semi-manufactured forms, or in powder form; powder, grains; and containing 99.9% or more by weight of silver, "through nominated agencies notified by the RBI, in the case of banks, by the DGFT, in case of other agencies, and by qualified jewellers as notified by the IFSCA for import through the India International Bullion Exchange (IIBX), wherever allowed, shall be permitted only against a valid import authorisation issued by the DGFT".
The United States has signalled that it wants to end the special waivers that allow countries such as India to continue buying Russian oil, a move that could have major implications for global energy markets and India-US ties. Speaking before the Senate Foreign Relations Committee on Tuesday, US Secretary of State Marco Rubio said Washington would like to stop extending the waivers as soon as possible because US policy continues to support sanctions on Russian oil. However, he added that the final decision rests with the US Treasury Department and will depend on the circumstances when the current waiver expires on June 17.
Canada had a positive meeting with the U.S. on the review of their free trade deal, Canada's minister responsible for Canada-U.S. trade, Dominic LeBlanc, said in Washington on Tuesday, but declined to provide many details. LeBlanc, who met with U.S. Trade Representative Jamieson Greer along with Canada's chief trade negotiator, Janice Charette, did not comment on when formal negotiations between the two countries will start. "We presented a number of specific proposals to Ambassador Greer that we think are good in the broader context of the North American economy and respond to some longstanding issues that the United States has raised with us," he said, adding he will be in touch with Greer next week.
Chinese automakers are expanding in Europe, betting on their competitive pricing and advanced technology to break into a market traditionally dominated by European and American brands, amid a global shift towards electric vehicles. This expansion has stoked trade tensions between Brussels and Beijing, including a row over EU tariffs on Chinese-made EVs, imposed to protect European producers. The following Chinese carmakers have expanded their footprint in Europe. BYD: BYD, the world's largest EV seller, accounted for 2.2% of total car registrations, a proxy for sales, in the European Union, Britain and the European Free Trade Association between January and April, data from the European Automobile Manufacturers' Association showed.
Tesla's Chinese-made electric vehicle sales jumped 39.4% from a year earlier in May, marking a seventh consecutive month of growth as it held its ground against Chinese rivals. Deliveries of Tesla's Model 3 and Model Y vehicles from its Shanghai plant, including units exported to Europe and other markets, hit 85,982, up 8.2% from April, data from the China Passenger Car Association showed on Tuesday. The U.S. automaker saw new registrations rebound across several European markets in May, extending a recovery after earlier demand weakness in the continent.
Brazilian President Luiz Inacio Lula da Silva on Tuesday highlighted his country's ties with China after the U.S. proposed a new punitive tariff of 25% on many imports from Latin America's largest economy. • Lula hailed China's decision earlier in the day to recognize Brazil as free of foot-and-mouth disease, calling it a counterpoint to the U.S. move. • "If you don't want to buy from me, I will sell to someone else," Lula said during an event in Goias state. • The leftist leader said he learned of the tariff proposal during trade talks, adding that U.S. and Brazilian trade negotiators had met three times recently but failed to reach a deal. • Lula blamed Brazilian Senator Flavio Bolsonaro for the U.S. proposal, accusing the right-wing presidential hopeful of lobbying Washington to impose tariffs.
Microsoft on Tuesday unveiled a new quantum computing chip that it redesigned with the help of AI, saying it now believes it will have commercially useful quantum machines by 2029. The new target date puts Microsoft on track to have quantum computers the same year as rival IBM, which last month said it plans to spend $10 billion on quantum machines. It also spun out a company to make quantum chips for others, with backing from President Donald Trump's administration. Microsoft had not previously given a target year for the new chip, saying only that it would be a matter of years, not decades.
Chinese AI startup DeepSeek is set to raise about 50 billion yuan ($7.4 billion) in its first funding round from investors including Tencent Holdings and CATL, people with knowledge of the matter said. The fundraising could value the company after the investment at between 350 billion yuan and 400 billion yuan, or between $52 billion and $59 billion, the people said, declining to be identified because the information is confidential. DeepSeek became China's national AI champion and garnered global fame early last year, when its V3 and R1 models drew widespread praise in Silicon Valley and challenged U.S. assumptions about China's AI capabilities.
The Reserve Bank of India (RBI) on Tuesday announced a Rs 50,000 crore two-day Variable Rate Repo (VRR) auction, a move aimed at managing short-term liquidity conditions ahead of the central bank's monetary policy review. The auction will be conducted on June 3 between 9:30 am and 10 am, while the reversal of funds will take place on June 5. "On a review of current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Repo (VRR) auction on Wednesday, June 03, 2026," the RBI said in a release. The announcement comes as surplus liquidity in the banking system has moderated in recent days. System liquidity stood at a surplus of about Rs 85,411.44 crore as of June 1, compared with a surplus of Rs 1.40 lakh crore on May 31.
The Indian central bank likely intervened in the foreign exchange market on Wednesday to limit the rupee's fall, four traders told Reuters, as a rise in crude prices on renewed U.S.-Iran hostilities pressured the South Asian currency. The rupee was at 95.47 per dollar, down 0.2% on the day. State-run banks were spotted offering dollars near the 95.50 mark, a trader at a Mumbai-based bank said. Renewed hostilities in the Middle East sparked the third consecutive daily rise in oil prices, with Brent crude rising about 1% to nearly $97 per barrel.
Just as the microfinance sector appears to be emerging from a prolonged asset-quality stress cycle, a weaker monsoon forecast threatens to create fresh challenges. With the India Meteorological Department (IMD) downgrading its southwest monsoon forecast to “below normal” — potentially the weakest in 11 years — concerns are resurfacing for India’s over ₹3-lakh-crore microfinance industry. The IMD has revised its June-September southwest monsoon forecast to 90% of the long-period average, down from 92% projected earlier. It has also indicated that El Niño conditions are likely to develop during the season. A weaker-than-expected monsoon could hurt agricultural output, strain rural incomes and stoke inflation, prompting microfinance lenders to take a more cautious approach to fresh loan disbursements. “A weak monsoon could trigger a major supply shock and lift inflation. The MFI sector is likely to withstand the first level of shock as the current guardrails have already reduced its risk exposure.
The government is set to soon constitute the proposed High-Level Committee on Banking for Viksit Bharat, with the aim of receiving its report within three to four months and initiating a new phase of comprehensive banking sector reforms. Sources said the terms of reference for the committee are almost ready and the panel will be constituted once the members are finalised. The committee is expected to undertake a fundamental review of the banking sector architecture and recommend measures to strengthen the system in line with India’s long-term growth ambitions. Among the key issues likely to be examined are the creation of larger Indian banks through consolidation, enhancement of foreign direct investment (FDI) limits in public sector banks (PSBs), rationalisation of voting rights for investors, and a review of regulatory requirements such as the Cash Reserve Ratio (CRR), Statutory Liquidity Ratio (SLR) and banking licence norms.
Indian semiconductor startups raised $92 million in the first five months of 2026 across 12 deals, nearly four times the funds raised in the entire 2025, boosted by government initiatives, rising investor interest and more firms getting into production. According to data from Venture Intelligence, companies that raised funds in 2026 include Constelli, C2i Semiconductors, HrdWyr and VerveSemi, each raising upwards of $10 million. ET had earlier reported that Agrani Labs and Calligo Technologies were in talks to raise fresh funds. Of the funds raised in the January-May period, $34 million were seed rounds across eight deals and the rest were Series A funding. Last year, semiconductor startups raised $25 million in six deals.
Godrej Industries Group on Tuesday announced the launch of its wealth management arm, Godrej Wealth, through its subsidiary Godrej Investments. The newly-launched company is targeting assets under management of Rs 1 lakh crore over the next five years by focusing on the affluent and the high-net-worth segments and expanding in 35 locations. Godrej Wealth will operate alongside Godrej Capital, the group’s lending business, together forming the financial services arm of the Godrej Industries Group. Kunal Karnani has been appointed the chief executive officer of the wealth management arm.
Indian beverage startup Archian Foods, best-known for its flagship Lahori Zeera drink, is targeting revenue of Rs 1,150-1,200 crore in FY27 after closing FY26 with sales of Rs 775 crore, co-founder and CEO Saurabh Munjal said in an interaction with FE. The company is stepping up investments in manufacturing and distribution to capitalise on the rising demand for Indian-flavoured drinks. In three years, the Mohali, Punjab-headquartered firm hopes to achieve a turnover of Rs 2,000 crore for which it has put a blueprint in place, Munjal says. For one, the company is eyeing a bottling push nationwide, with plans to expand its contract manufacturers from five now to about 25-30 in the next few years, he says.
Rajasthan is witnessing a major infrastructure expansion with 81 projects worth ₹2.72 lakh crore currently under execution, according to the Project Monitoring Group report of the Ministry of Statistics and Programme Implementation. The projects span railways, highways, energy transmission, petroleum, and civil aviation, making the state one of India’s largest ongoing infrastructure investment hubs. Officials say these projects aim to improve connectivity, logistics, industrial growth, and energy security across the state.
India remains engaged with the United States on the ongoing Section 301 proceedings related to forced labour issues, the commerce ministry said on Wednesday, as the two countries continue negotiations on a proposed bilateral trade agreement. The statement comes after the Office of the United States Trade Representative (USTR) proposed additional tariffs on imports from 54 economies, including India, under investigations examining whether countries have imposed and effectively enforced prohibitions on goods produced with forced labour.
A delegation of UK trade officials, led by Secretary of State for Business and Trade Peter Kyle met Commerce Minister Piyush Goyal amid new irritants emerging in the path of operationalising the Comprehensive Economic and Trade Agreement (CETA) between the two countries. “Had great conversations on charting the next phase of India-UK economic engagement, advancing shared business priorities, and further strengthening our robust and forward-looking partnership,” Goyal who led the Indian delegation posted on ‘X’.
The US government has proposed an additional tariff of 12.5% on India, even as its trade negotiators are in Delhi for negotiations with their counterparts. The recommendation came from the Office of the US Trade Representative following an investigation into “forced labour” practices in various countries. Most US trading partners would face a 10% levy under the proposal, while India and 53 other nations (including China, Japan, South Korea, Brazil and Switzerland) face a higher tariff rate. “For economies that impose a forced labor import prohibition, that have committed to impose and enforce such a prohibition through an Agreement on Reciprocal Trade, or economies that have imposed a partial regime with the effect of preventing the importation of certain forced labor goods, the U.S. Trade Representative proposes 10% as the rate of additional duties. For all other economies, the U.S. Trade Representative proposes 12.5% as the rate of additional duty,” USTR wrote in a statement.
The Reserve Bank of India‘s bi-monthly Monetary Policy Committee (MPC) meeting will begin on June 3. The three-day meeting will conclude on June 5, with RBI Governor Sanjay Malhotra announcing the key policy decisions. Analysts expect the RBI to pause rather than a hike despite rising inflation risks from higher fuel prices, a depreciating rupee, and elevated global energy costs. Here’s why. RBI unlikely to hike rates to defend the rupee Nomura expects the RBI to opt for a hawkish pause, arguing that interest rates are not an effective tool to defend the currency; also their primary mandate is to control inflation and support economic growth, rather than target a specific exchange rate.
Economists across CareEdge, Bank of Baroda, and Kotak Institutional Equities warn that the macroeconomic outlook has deteriorated meaningfully since the West Asia conflict began, with a weak, El Nino-hit monsoon and rising fuel costs threatening to compound the strain in the first quarter of FY27. The grim outlook comes despite India’s growth moderating in Q4FY26. Economists believe that in the March quarter the economy remained partially shielded from the adverse effects of geopolitical tension as the war started in late February. Progress on the global trade front and companies’ reliance on existing inventories also helped cushion the impact of rising input costs.
After more than a decade of preparatory work, the Producer Price Indices (PPI) is finally ready for launch and will be unveiled for the first time along with the revised Wholesale Price Index (WPI) on 15th of June. The PPI will have three indices – Output PPI, Trial Input PPI and Services PPI. Output PPI and Trial Input PPI will be released monthly and Services PPI will be compiled on a quarterly basis.
The US has reduced duties on agriculture and construction equipment to 15% from 25% through a proclamation signed by President Donald Trump. The tweaks are, however, expected to have a limited impact on India as its exports of the items that will attract lower duties is less than $ 50 million a year. The Proclamation adjusts the tariffs on agricultural equipment, like combines and harvesters, as well as certain other equipment, from 25% to 15%. It also expands the existing category of industrial equipment subject to a 15% tariff to include mobile industrial equipment, like bulldozers and forklifts, when imported from trade deal countries that are entitled to such treatment.
India’s services sector expanded at its fastest pace in six months in May. The HSBC India Services PMI rising to 59.8 from 58.8 in April amid stronger demand and higher new business inflows. The HSBC India Composite PMI Output Index, which tracks both manufacturing and services activity, also rose to 59.3 in May from 58.2 in April, signalling broad-based strength in private sector activity.
A sharp rise in retail petrol and diesel prices since mid‑May could add materially to India’s consumer price inflation, Crisil warned, even as the Reserve Bank of India’s Monetary Policy Committee (MPC) may initially look through the supply‑side shock. The rating agency estimated the direct impact on the Consumer Price Index (CPI) at roughly 36 basis points for a Rs 7.5/litre increase in fuel costs, rising to about 48 basis points if retail prices climb by Rs 10/litre. Retail fuel surge and inflation mathematics Retail petrol and diesel prices in India have climbed by around Rs 7.5 per litre since May 15 and Crisil said further hikes are possible if crude oil remains elevated. “The direct upside to inflation linked to CPI is estimated at ~36 basis points (bps) with a hike of Rs 7.5/litre in petrol and diesel prices, rising to ~48 bps if the retail fuel prices increase by Rs 10,” the report said.
Canadian Prime Minister Mark Carney, pressed about statistics showing the country is in a technical recession, on Tuesday told reporters that as the government pressed ahead with reforms "the data will be uneven". He continued: "We see some weakness, in part because of clear decisions made by the government." These included cutting back immigration and curbing government spending, he said.
The largest exchange-traded fund (ETF) tracking U.S. software stocks clocked the biggest single-day buy-in by retail investors on record on Monday, data from Vanda Research showed. Software stocks have largely recovered their losses from earlier this year when fears of industry-wide disruptions due to the rise of AI gripped the sector, though volatility still persists.
U.S. job openings increased by the most in five years in April, but the surge likely overstates the labor market's health, as hiring declined against the backdrop of economic uncertainty stemming from the Iran war. The Job Openings and Labor Turnover Survey, or JOLTS report, from the Labor Department on Tuesday also showed resignations dropped to the lowest level in nearly six years in April, a sign of lack of confidence in the jobs market.
Japan's services sector ground to a halt in May after more than a year of expansion, as surging costs linked to the Middle East war dampened service demand and led to a 12-year high in output price inflation, a private survey showed on Tuesday. • The S&P Global final Japan Services Purchasing Managers' Index (PMI) fell to 50.0 in May from 51.0 in April, marking the end of a 13-month expansion streak. Readings above 50.0 indicate growth in activity, while those below point to a contraction.
Australia's economy slowed in the March quarter as strength in business investment was offset by a drag from trade, data showed on Wednesday, while higher borrowing costs and rising petrol prices cooled consumer demand. The pullback is likely to worsen as the Middle East conflict and rapid-fire policy tightening have sent household spending falling, house prices flatlining and the unemployment rate edging higher.
China's services activity expanded at the fastest pace in three months in May, helped by stronger growth in new business and a rebound in overseas demand, though rising cost pressures weighed on firms, a private-sector survey showed on Wednesday. The RatingDog China General Services Purchasing Managers' Index, compiled by S&P Global, rose to 54.4 in May from 52.6 in April, staying above the 50-mark that separates expansion from contraction.
Russia's services sector contracted in May at its quickest pace since September as weaker demand drove steeper falls in new orders and output, a business survey showed on Wednesday. The S&P Global Russia Services PMI Business Activity Index fell to 48.7 in May from 49.7 in April, dropping deeper below the 50 mark that separates growth from contraction.
The global economic outlook hinges on how long the war in the Middle East lasts, with recession in some countries and sharply higher inflation a real possibility if it drags on into next year, the Organisation for Economic Cooperation and Development warned on Wednesday. If the conflict proves short-lived, Gulf oil and gas production could gradually return to pre-crisis levels from the third quarter with shortages confined to Asia and cushioned by strategic reserves and shipments from other producers.
Spain's service sector activity stabilised in May as activity and sales returned to growth after April's decline, a business survey showed on Wednesday. The S&P Global Purchasing Managers Index for the services sector rose to 50.1 in May from 47.9 in April, creeping back above the 50 mark separating growth from contraction.
India’s revised Schedule M regulations are gradually reshaping the country’s pharmaceutical manufacturing ecosystem. Industry officials caution that while the reforms are expected to improve quality standards and global credibility, they could also lead to consolidation among thousands of small- and medium-sized drug manufacturers that may find it challenging to comply with the new requirements. The common concern across the industry is that compliance is no longer limited to installing new equipment or upgrading facilities. It now requires sustained investment in quality systems, documentation, data integrity, skilled manpower, and continuous audits, significantly increasing the cost of doing business. Latest estimates by industry body Pharmexcil suggest that only 25-40% of India's nearly 8,500 small and medium pharmaceutical manufacturing units are currently fully compliant or near-compliant with the revised Schedule M requirements.
Retrospective tax liability has returned to haunt Indian businesses, this time through the Supreme Court upholding the government’s power to tax online real-money gaming companies for past periods. In Gameskraft Technologies, the court ruled that the government could impose 28 percent GST on the entire contest or betting amount deposited on online gaming platforms. The industry’s principal contention was not merely the rate of taxation but the basis on which GST should be levied. It argued that tax should apply only to the platform fee or commission earned by gaming companies for facilitating online gaming, rather than to the entire amount staked by players. The industry also urged the court against imposing tax liabilities for periods during which the legal position remained uncertain and heavily contested. For years, online gaming companies operated under a framework where GST applied only to platform fees, consistent with the earlier service tax regime. That position changed with an amendment that came into force on October 1, 2023 with the government arguing that it was merely clarificatory and did not introduce a new levy. According to this interpretation, a 28 percent GST on the full betting amount had always been applicable since the introduction of GST on July 1, 2017. Accepting this argument, the Supreme Court held that the amendments were clarificatory rather than substantive. Still, the judgement leaves the industry facing tax demands of nearly ₹1.5 lakh crore, even though the sector’s total revenue during the relevant period—from July, 2017 to March, 2022—was only around ₹10,100 crore.
Alphabet's plan to raise $80 billion in equity to fund artificial intelligence has put a number on a contradiction that has defined corporate technology in 2026: the companies pouring record sums into Al are also cutting tens of thousands of jobs. Alphabet said on June 1 it would raise $80 billion through equity offerings, including a $10 billion private placement to Berkshire Hathaway, to fund its Al spending, in one of the largest equity deals of all time, according to Bloomberg.
Anthropic, the maker of the Claude Al models, has filed confidentially for an initial public offering after one of the fastest revenue expansions in the technology industry's history. The company said on June 1, 2026 that it had submitted a draft S-1 registration statement to the U.S. Securities and Exchange Commission for a proposed IPO, with the number of shares and the price not yet set and the offering dependent on market conditions, according to TechCrunch. The company was founded in 2021 by siblings Dario and Daniela Amodei and a group of former OpenAl researchers.
McDonald’s unveiled its latest global growth plan at its Worldwide Convention for franchisees. A new restaurant design, better-tasting food and drinks, consumer-led innovation and improved customer service are the four cornerstones of the new plan. The growth plan comes as the restaurants compete for a smaller pool of customers amid high gas prices and years of elevated inflation. McDonald’s on Monday unveiled its latest global growth strategy to help the fast-food giant become customers’ first choice as it faces new rivals and consumer spending stretched by high gas prices.
South Korea has overtaken India to become the world's sixth-largest equity market, according to data compiled by Bloomberg, as a rally in chipmakers tied to the global artificial intelligence buildout lifts Asian The combined value of South Korea-listed companies has climbed about 86 percent in 2026 to $5 trillion, led by Samsung Electronics and SK Hynix, while India's has fallen to $4.8 trillion, Bloomberg data showed. The gains are concentrated in chip stocks. Samsung and SK Hynix together account for nearly half of South Korea's market value and TSMC for almost 40 percent of Taiwan's, while Nvidia alone is now worth more than all listed Indian companies combined, Business Standard reported, citing Bloomberg data. TSMC's share of the global foundry market rose to almost 70 percent in 2025, up from 64.4 percent a year earlier, on booming Al demand, research firm TrendForce said, as reported by the Taipei Times.
Nearly half of America’s 857 unicorn startups haven’t raised fresh funding in three years, PitchBook data shows. Startups that last raised in 2021 are worth 68% less on average, PitchBook found, while those that last raised in 2022 have seen their valuations decline 52%. More than 220 companies that once hit billion-dollar valuations are now considered “fallen unicorns” — including Glossier, Savage X Fenty, AG1 and The Farmer’s Dog, according to PitchBook, which provided a list of the companies exclusively to CNBC.
The income tax appellate tribunal's (ITAT) Mumbai bench has held that the absence of a formal gift deed cannot, by itself, justify treating a property purchase as an 'unexplained investment' when the source of funds is clearly identifiable. Under I-T laws, if income or an asset is treated as unexplained, it is subjected to a steep punitive tax rate. The ITAT held in its May 27 order that a man purchasing a property in his daughter's name out of natural love and affection cannot be treated as a suspicious transaction merely because no formal gift deed was executed. The daughter, a Mumbai-based homemaker with no independent source of income, came under the tax department's scanner after information surfaced that she had purchased an immovable property valued at Rs 1.1 crore in 2015-16.
The Tata Sons management sought approval for an equity infusion of approximately Rs 7,000 crore into the group's digital consumer businesses at the May 26 board meeting. The digital consumer business include platforms such as BigBasket, Tata Cliq and other consumer-facing digital ventures housed under Tata Digital, according to people familiar with the matter. However Tata Trusts Chairman Noel Tata is said to nave questioned both the scale of funding sought and the assumptions underpinning the business plan, Deople directly aware of the matter told Moneycontrol. The proposal was accompanied by projections indicating that the businesses are likely to continue reporting losses over the next three financial years as the group continues investing aggressively in building scale, customer acquisition and market share, people familiar with the matter said. These losses could amount to Rs 9,000 crore over the next three fiscal years, the people said.
India's trade deal with Oman, which came into effect on June 1, could help New Delhi secure fertiliser supplies amid West Asia conflict that has hit disrupted supplies, industry sources said. The India-Oman Comprehensive Economic Partnership Agreement (CEPA) removes tariffs on 99 percent of Indian exports while paving the way for deeper investment ties.
The April factory output data denotes that industrial activity is largely being supported by capex and construction-related demand than by a fully broad-based consumption cycle, economists say. Economists expect support from government capex to continue driving momentum in IIP growth in the coming months, while consumption growth may remain modest.
LPG sales fell 24% year-on-year in May, a much steeper decline than the month before while petrol and diesel sales by state-run oil companies rose 4.8% and 6.4%, respectively. Aviation turbine fuel sales rose 1.8% from a year earlier in May, according to sales data from IndianOil, Bharat Petroleum and Hindustan Petroleum. The three state-run companies control 90% of petrol, diesel and aviation fuel market, and nearly entire domestic LPG market. Sales data for the industry, including private sector, slated to be issued by the oil ministry in a week, will provide a clearer picture of fuel consumption in May. In April, LPG sales by state-run companies had dropped about 16% year-on-year. The unusually high growth in diesel sales by state-run fuel retailers in May points to a significant demand shift away from pumps operated by private retailers.
The domestic aviation sector saw passenger growth virtually stall in the first four months of 2026, signalling that the post-pandemic travel boom may be losing momentum amid softer discretionary demand, elevated airfares and persistent operational disruptions. Domestic airlines carried 57.55 million passengers during January-April 2026, up just 0.06% from 57.51 million a year earlier, according to industry data. The growth was sharply lower than the 9.87% expansion recorded in the corresponding period of 2025 and marks the weakest performance since the industry emerged from the pandemic-induced downturn. The weakness became particularly visible in April, when domestic passenger traffic fell 3.47% year-on-year to 13.82 million passengers from 14.32 million. Traffic was also 4.2% lower than the 14.4 million passengers carried in March, highlighting a moderation in travel demand.
Passenger vehicle (PV) industry continued its second consecutive month of strong growth of over 25% in FY27, with domestic wholesales rising 26.2% year-on-year (YoY) to 4,44,394 units in May, compared with 3,52,218 units in the year-ago period, driven by sustained SUV demand, improving rural traction and a sharp uptick in CNG vehicle sales amid higher fuel prices. The strong performance indicates continued momentum in the sector at the start of FY27, despite fuel price hikes and global uncertainty, supported by improving supply conditions, new model launches and a clear shift in consumer preference towards lower running-cost vehicles.
India’s medical technology sector could grow over four times to touch $89 billion by 2035, driven by rising domestic demand, active policy push, strong capital flows into the sector, and favourable trade position, a new report by BCG, Association of Indian Medical Device Industry (AiMeD) and Kalam Institute of Health Technology (KIHT) said. As per the report, the domestic MedTech market has jumped from $11 billion in 2022 to $16 billion in 2025, making it one of the fastest-growing segments in the healthcare sector. Domestic manufacturing has grown sharply with its share in domestic demand surging from 20% in 2022 to 45% in 2025. At the same time, the share of imports in domestic consumption has dropped from about 80% to 55%. Despite the progress, India still remains heavily dependent on imports in critical segments. Large medical equipment such as MRI and CT scanners continue to have import dependence while consumables and diagnostics also rely significantly on imported components and raw materials.
The two-wheeler industry maintained its growth momentum in May, with leading manufacturers reporting healthy increases in domestic sales and strong export growth, indicating resilient demand in the domestic market and improving conditions in overseas geographies. Domestic sales growth ranged from high single digits to mid-double digits across major manufacturers, supported by sustained demand for motorcycles and scooters. At the same time, exports continued to recover, providing an additional growth driver for the industry.
State-run oil marketing companies (OMCs) are continuing to incur under-recoveries of around ₹30 per litre on aviation turbine fuel (ATF) sold to domestic airlines after keeping jet fuel prices unchanged for a second straight month. Prices for international carriers, however, were cut by a steep 27% in the monthly revision effective June 1. “There is under-recovery of around ₹30 per litre on domestic jet fuel, but this under-recovery is variable based on international prices,” Sujata Sharma, joint secretary at the petroleum ministry, said on Monday. Domestic airlines will continue to pay ₹104,927.18 per kilolitre for ATF, the rate applicable since April 1. The price was left unchanged in May and June despite elevated international benchmark prices.
The global smartphone market is heading for its steepest annual contraction on record, with shipments projected to slump by 13.9% this year to 1.08 billion units, Counterpoint Research said on Monday, citing a worsening shortage of memory chips. The forecast is a downgrade from the 12.4% decline projected in February, with the squeeze in global chip supply exacerbated by the Iran war. IMPACT MOST ACUTE AT BUDGET END OF MARKET The impact is being felt most acutely in lower-end smartphones as chipmakers shift production capacity to AI-related chips, making entry-level devices less economical to produce. Global smartphone wholesale prices rose 14% in the first quarter while shipments fell 3.1% year on year. That trend is expected to continue as inventory built before the supply shock becomes depleted, with some models priced below $150 likely to disappear from the market. "Smartphone makers in the low and mid-tier are caught between cost increases they cannot absorb and consumers with limited spending power," said Wang Yang, a principal analyst at Counterpoint, an independent research company that publishes quarterly smartphone shipment data. "The question is no longer how to grow shipments or market share, but whether to remain in the market at all."
Government subsidies to industry have reached their highest level since the global financial crisis, driven largely by China, a report from the Organisation for Economic Cooperation and Development said on Monday. • The OECD's Manufacturing Groups and Industrial Corporations database, known by the acronym MAGIC, tracks what firms receive as opposed to what governments say they give • This provides an insight into opaque subsidy systems, particularly in China • Subsidies for 15 industries covered by the OECD's database reached $108 billion in 2024, only slightly below a peak in 2023 • As a percentage of firms' revenue, the amount in both years was the highest since western governments provided various forms of state support in 2009 at the height of the financial crisis • The sectors subsidised the most over 2005 to 2024 were solar panels, semiconductors, aluminium, steel and shipbuilding • The OECD said at a conservative estimate Chinese firms received on average three to eight times more government support than firms based in the OECD between 2005 and 2024
Venezuela's oil exports rose slightly to 1.25 million barrels per day in May, its third consecutive month of increase, fueled by more cargoes to the U.S., India and Europe, shipping data showed on Monday. Under the U.S.-supported government of interim President Delcy Rodriguez, Venezuelan crude production and exports have bounced this year as Washington eased sanctions and foreign companies expanded oil and gas projects in the OPEC nation. The oil ministry has forecast a crude output of 1.37 million bpd by year-end, which would imply a 22% increase from the 1.12 million bpd produced in late 2025 and a number not seen since U.S. energy sanctions were first imposed in 2019. The growth also has allowed Venezuela to resume exports to countries it had not been able to sell its oil to in years. The volume of crude and refined products shipped from the South American country in May was 0.7% higher than in April and stood 61% above exports in the same month last year, according to the data, based on tanker movements and records from state company PDVSA. A total of 67 cargoes were exported.
U.S. crude exports climbed to a record 5.6 million barrels per day in May as the Middle East crisis pushed up demand for the country's oil from Asian and European refiners, ship tracking estimates showed on Monday. The U.S. and Israel's war with Iran triggered the largest-ever disruption to the global energy market with refiners globally scrambling for alternatives to Middle Eastern supply. Around a fifth of the world's oil and gas supplies passes through the Strait of Hormuz. a key waterway that effectively closed when the war started at the end of February. U.S. crude exports last month surged past the previous record set in April of 5.2 million bpd, according to data and analytics firm Kpler, as benchmark U.S. West Texas Intermediate prices traded at a steep discount to Brent, the global benchmark. Physical U.S. crude grades are typically priced as a differential to WTI, and a large discount to Brent makes it more economic for foreign buyers to purchase U.S. oil and ship it across the world.
Nvidia unveiled Monday new powerful chips that would bring advanced artificial intelligence functions into laptops and desktop computers, with the new personal computer models from brands including Microsoft and Dell set to roll out later this year. While Santa Clara, California-based Nvidia has already been massively successful in supplying high-end chips for data centers riding the worldwide AI demand boom, it is plotting different plans to expand its presence across AI systems and products. Jensen Huang, the Taiwanese-American founder and CEO of Nvidia, made the announcement in Taipei at the annual Nvidia GTC event. Microsoft and Nvidia "are going to reinvent the PC (personal computer)," he said in his keynote speech.
Japan’s corporate pecking order has witnessed a major shake-up, with SoftBank Group overtaking Toyota Motor Corporation as the country’s most valuable company, Bloomberg reported. On Monday (June 1), shares of the Masayoshi Son-led conglomerate surged 14% in Tokyo trading, taking SoftBank’s market capitalisation beyond 48 trillion yen and pushing it ahead of Toyota’s roughly 46 trillion yen valuation. The development marks the first time in over two decades that SoftBank has surpassed the automaker in market value, apart from a brief moment during Japan’s dot-com bubble in 2000.
US President Donald Trump has signed a proclamation temporarily amending tariffs on copper, aluminum and iron imports. The announcement on Tuesday morning included new rates and an expansion of existing industrial equipment categories. It also sought to incentivise foreign companies by introducing a lower duty rate in certain cases. Details shared by the White House reveal that two new categories of steel and aluminium derivative import products have also been added to the tariff list. Steel racks and aluminium lithographic plates will both be subject to 25% duties. Rate changes and ‘encouragement’ for foreign companies According to the Proclamation issued by Trump, tariff rates for agricultural equipment such as combines and harvesters have been adjusted from from 25% to 15%. The White House said this would also apply to “certain other equipment” without elaboration.
Indian government bonds slid on Monday after oil prices jumped as fresh U.S.-Iran strikes threatened a fragile ceasefire and stoked rate-hike worries ahead of a crucial policy meeting. The Reserve Bank of India will announce its rate decision on Friday, with markets largely pricing in a pause even as Standard Chartered, Capital Economics, ANZ, MUFG and OCBC call for a 25-basis-point hike. "While the case for a tighter monetary policy is strengthening, the timing of the move is a matter of debate," Radhika Rao, senior economist and executive director at DBS Bank said in a note. "In our view, the monetary policy committee is likely to prioritise the key mandate, i.e. inflation, to decide on the path ahead, while relying on other instruments to stabilise the currency and bond markets." India's inflation pressure is building. The rise in wholesale prices accelerated to a three and a half-year high in April. State-run fuel retailers have raised fuel prices four times in May. A forecast for a weak monsoon also poses further inflation risks.
South Korea’s equity market has overtaken India’s as the world’s sixth largest, driven by a relentless surge in chip heavyweights powering the global artificial intelligence buildout. The total market capitalization of Korea-listed companies has soared 86% this year to $5 trillion, while India’s has declined to $4.8 trillion, data compiled by Bloomberg show. Samsung Electronics Co. and SK Hynix Inc., newly minted members of the $1 trillion valuation club, have powered Korea’s equity surge, lifting the Kospi’s 2026 gains to more than 100% through their dominance in AI memory chips. Korea has vaulted past Canada, Germany, the UK, and France this year. “Closing in on India is a remarkable milestone for a market that, not long ago, was setting Kospi 5,000 as an ambitious target,” said Ross McGarry, senior investment analyst at Asset Value Investors. “This year’s rally, though, has been heavily carried by the memory cycle — Samsung and SK Hynix have done the heavy lifting. The real test is whether Korea can sustain this re-rating through genuine corporate governance reform.”
UPI transactions hit a record high in May 2026, with the National Payments Corporation of India (NPCI) reporting 23.2 billion transactions worth Rs 29.90 lakh crore, up 24 % and 19 % respectively on an annual basis, because of summer travel, IPL 2026, and seasonal consumer spending, as per PTI. The April figures stood at 22.35 billion transactions valued at Rs 29.03 lakh crore. Looking at the bigger picture, India processed over 200 billion UPI transactions in 2025-26. UPI handled 24.16 billion transactions during the year, up 30% from 18.59 billion the year before. The value of those transactions rose 20.6% to Rs 314.2 lakh crore. UPI now accounts for nearly 86% of all retail payment transactions in the country, according to the latest RBI report For context: three years ago, that share was closer to 80%. The big picture on digital payments Total cashless transactions across all payment systems grew 26.8% in volume during 2025-26. In value terms, all digital payments combined, from large corporate settlements via RTGS to small peer-to-peer UPI transfers, reached Rs 3,251 lakh crore during the year.
Banks have sanctioned Rs 35,000 crore loans under the Emergency Credit Line Guarantee Scheme (ECLGS) to MSMEs and industries impacted by the West Asia conflict. The scheme, approved by the Union Cabinet on May 5, aimed at providing additional credit flow of Rs 2.55 lakh crore, including Rs 5,000 crore for airlines hit by the ongoing geopolitical crisis. Lenders have cleared about 80,000 applications with loans amounting to Rs 35,194 crore, and guarantees worth Rs 15,720 crore have been issued as of May 29, Department of Financial Services Joint Secretary Manoj Muttathil Ayyappan told reporters here.
The Central Board of Direct Taxes (CBDT) has instructed assessing officers to exercise greater diligence and consistency in invoking anti-evasion provisions relating to unexplained income and assets after a draft audit report by the Comptroller and Auditor General of India flagged inconsistencies in their application that led to revenue losses for the government. These provisions-Sections 68, 69A, 69B, 69C and 69D-are used when taxpayers are unable to explain the source of money, assets, investments or expenses found during scrutiny, allowing authorities to treat unexplained cash, investments, jewellery, or spending as income if the taxpayer cannot justify where it came from. Section 68 typically covers unexplained credits in books of account, 69A deals with unexplained money or valuables found in possession, 69B relates to under-reported investments, 69C covers unexplained expenditure, and 69D deals with unexplained borrowing or repayment transactions.
The footprint of Indian businesses in the UK expanded sharply this year, with the number of Indian-owned companies rising nearly 60% from a year earlier and combined revenues surpassing £105 billion, according to the latest India Meets Britain Tracker published by Grant Thornton UK. The 2026 edition of the report found that 1,912 Indian-owned businesses are now operating in the UK, up from 1,197 in the previous year, with their combined turnover reaching £105.77 billion compared with £72.14 billion in 2025. Published by Grant Thornton UK in collaboration with the Confederation of Indian Industry (CII) and India Global Forum (IGF), the India Meets Britain Tracker tracks the fastest-growing Indian-owned businesses in the UK and examines trends in investment employment and sector growth.
Realty firm Anant Raj Ltd has signed a Memorandum of Understanding (MoU) with the Haryana government to invest Rs 20,000 crore in developing large-scale data centre infrastructure across the state. The agreement was formalised during the launch of the ‘Make in Haryana Policy’ and other sector-specific initiatives organised by the Department of Industries & Commerce, Government of Haryana. Investment to strengthen Haryana’s digital infrastructure The proposed investment is aimed at expanding data storage capacity, cloud computing services and digital connectivity infrastructure in Haryana, amid growing demand from businesses and technology firms. According to the company, the planned investment is in addition to its existing and ongoing data centre expansion projects in the state.
Critical minerals and battery recycling company Lohum is set to operationalise its newly acquired lithium mines in Zimbabwe in a month or two, targeting production of 30,000 tonne of lithium carbonate equivalent per year, even as the ongoing West Asia crisis has pushed procurement costs up by as much as 50%. The company has set a revenue target of Rs 10,000 crore by 2029, backed by planned capital expenditure of Rs 2,500-3,000 crore, Rajat Verma, founder and CEO, tells Saurav Anand in an interview. Excerpts. Lohum has traditionally been known as a recycler. Is the company now formally diversifying into the mining sector, and what does that strategic shift look like on the ground?
India's CPI inflation is expected to rise by around 70 bps to 4.8 per cent with crude oil averaging USD 90/bbl in FY27, according to a report by 360 ONE Capital. This projection comes as the ongoing conflict in West Asia and a downgraded domestic monsoon forecast introduce fresh challenges to India's macroeconomic trajectory.
For nearly two decades, India’s economic rise has largely been celebrated through the lens of consumption. A growing middle class, rapid urbanisation, digital adoption, rising incomes and aspirational spending transformed the country into one of the world’s most attractive consumer markets. Global businesses looked at India as a vast marketplace—a nation of buyers, users and consumers.
Oman is ready to consider diverting its share of the production of the Oman India Fertilizer Project (OMIFCO) entirely to India if a request comes, Advisor for Foreign Trade and International Cooperation at Oman’s Ministry of Commerce Pankaj Khimji said on Monday. OMIFCO is a joint venture between IFFCO, KRIBHCO, and the Oman Investment Authority that became operational in 2006. For 15 years all its production was for India. Now Oman sells its share of the output on a trading platform.
Amid global uncertainties, the Centre stepped up capital and revenue expenditure in April, leading to a near doubling of the fiscal deficit year-on-year to 21.4% of the annual target, according to official data released on Monday. Data for the first month of FY27 showed that the Centre achieved 6.2% of the annual target in net tax revenues compared with 6.7% in the year-ago month. During the month, non-tax revenues were 3.6% of the annual target, compared to 11.5% in the year-ago month.
Spain's manufacturing sector expanded modestly in May, at a slightly slower pace than in April, as disruptions linked to the Middle East conflict worsened supply delays, raised costs and weighed on demand, a business survey showed on Monday.
Cost pressures in Italy's manufacturing sector rose for a fifth month running in May, fuelled by the conflict in the Middle East, a survey showed on Monday. The measure of input cost inflation in the Italian S&P Global Manufacturing Purchasing Managers' Index (PMI) accelerated to 76.5 from 75.4 in April, the highest reading since May 2022.
Euro zone consumers kept steady or lowered their inflation expectations in April, a hopeful sign for policymakers that crucial medium-term price bets are not signalling any oversized shift away from the target, an ECB survey showed on Monday.
Germany's manufacturing sector stalled in May as waning demand and soaring costs linked to the war in the Middle East weighed on activity, a business survey showed on Monday. The S&P Global Germany Manufacturing Purchasing Managers' Index (PMI) fell to 50.1 in May from 51.4 in April, a survey by S&P Global showed, holding above the 50 mark separating growth from contraction.
Growth in euro zone manufacturing lost momentum in May as demand for goods stagnated and supply-chain disruptions linked to the Middle East war pushed input costs to their highest in four years, a survey showed on Monday.
The Swiss economy grew by 0.4% in the first three months of 2026, the government said on Monday, helped by a recovery in the manufacturing sector as the burden of U.S. tariffs eased. The figure was an acceleration from the 0.2% rate at the end of 2025 and was in line with the long-term Swiss quarterly growth rate.
Canada's manufacturing sector expanded for a second straight month in May as the potential for higher prices and product shortages due to the war in the Middle East likely boosted client demand, data showed on Monday.
The Bank of Canada on Monday cautioned against putting too much weight on recent GDP data which showed two consecutive quarters of decline on an annualized basis. Senior deputy governor Carolyn Rogers said while two quarters of annualized contraction in GDP did meet one definition of a recession, the April advance estimate showed the economy most likely rebounded.
South Korea's consumer inflation quickened in May to a more than two-year high, exceeding market expectations on high oil prices triggered by the Middle East conflict, supporting the case for monetary tightening as early as next month.
Australia's net trade proved to be a major drag on the economy in the first quarter as imports of data centre equipment and fuel boomed, while government spending added nothing to economic growth.
Australian government spending was flat in the first quarter, data showed on Tuesday, offering no impetus to economic growth early in the year after a run of strong outcomes. Spending on operational items fell 0.2% in the March quarter from the previous quarter to an inflation-adjusted A$159.3 billion ($114.09 billion), the Australian Bureau of Statistics reported.
US manufacturing activity grew at its fastest pace in four years in May. The Institute for Supply Management’s manufacturing PMI rose to 54.0, its highest level since May 2022, marking the fifth straight month of expansion. The stronger-than-expected growth suggests US factories are holding up well regardless of higher costs, supply chain disruptions and ongoing economic uncertainty.
India's cumulative investments of nearly USD 360 billion in infrastructure development over the last decade has significantly slashed India's logistics cost to 10-10.7 percent of GDP in FY 2026, from 13-14 percent a decade ago, a report by CII Knight-Frank said on Friday. The report titled 'Fast-Tracking MMLPs to Enable Modal Shift: India's Multimodal Logistics Transformation: A Strategic Outlook' further said India will need many more Multimodal Logistics Parks (MMLPs) to unlock next level logistical efficiency. Reflecting this progress, the report said India's position in the global Logistics Performance Index (LPI) improved from 54th in 2014 to 38th in 2023.
All India House Price Index (HPI) rose 4.2 per cent in the January-March quarter of 2025-26, compared with an expansion of 3.8 per cent in the year-ago period, according to Reserve Bank data released on Friday. The increase in the fourth quarter was primarily driven by cities such as Nagpur, Jaipur, Chandigarh and Kanpur. The data also showed that the House Price Index rose to 115.9 in Q4:2025-26, from 115.6 in the previous quarter, driven by an increase in housing prices across Jaipur, Lucknow and Pune, reflecting a quarter-on-quarter growth of 0.2 per cent.
India needs to accelerate efforts to build a domestic semiconductor ecosystem, with self-reliance in chip manufacturing becoming critical for economic resilience, national security and inclusive growth, according to a new report by NITI Aayog. The report said that while government initiatives such as the India Semiconductor Mission are helping lay the foundation for a domestic industry, India's semiconductor manufacturing base remains at a nascent stage. With global supply chains undergoing a major realignment, the report cautioned that the country has a narrowing window to establish itself as a meaningful player in the sector.
Solar Industries India and its subsidiary have secured export orders worth Rs 1,076 crore for the supply of defence products to international clients. Solar Industries did not disclose the names of the clients or details of the products in its regulatory filing. However, it said that the orders will be executed over a period of three years. Solar Industries Q4FY26 In its Q4FY26 earning release, Solar Industries said that it currently has an order book of Rs 21,300 crore. it is targeting revenue of around Rs 14,000 crore in FY27 while maintaining current margins. The company plans to spend Rs 2,050 crore as capital expenditure in FY27 after investing more than Rs 2,700 crore over the past two years.
The domestic aviation sector began the financial year 2026-2027 (FY27) on a subdued note, with domestic passenger traffic declining year-on-year amid elevated airfares, rising fuel costs and geopolitical disruptions weighing on travel demand, according to a report by ICRA. Domestic air passenger traffic stood at 14.08 million passengers in April 2026, down 1.6% year-on-year from 14.31 million passengers in April 2025 and 2% sequentially from 14.37 million passengers in March 2026, the ratings agency said in its latest aviation outlook report released on Friday. The decline comes at a time when airlines are grappling with higher aviation turbine fuel (ATF) prices, rupee depreciation and operational disruptions arising from the ongoing West Asia conflict.
Maharashtra is looking to position itself at the forefront of India’s artificial intelligence push, with plans to attract Rs 10,000 crore in investments, create 125 lakh jobs and build dedicated infrastructure to support startups and innovation in the sector. Speaking at an event organised by the tech startup community in Mumbai, Chief Minister Devendra Fadnavis said the state has already put in place an AI policy aimed at creating a comprehensive ecosystem around the technology. “We have created a very robust policy whereby we look at Rs 10,000 crore investment in AI, 125 lakh jobs being created. We want to create six centres of excellence around AI. We are going to create AI innovation regions,” Fadnavis said during his address at day 1 of Mumbai Tech Week.
India should seek to build a $120-150 billion semiconductor value chain by 2035, with the centre funding at least one-third of the required investments to de-risk projects and attract long-term capital, according to a report released by NITI Aayog’s Frontier Tech Hub. The report titiled ‘Future of India’s Semiconductor Industry’, lays focus on transitioning the country beyond being a participant in the global semiconductor race to building leadership in areas where it can become strategically indispensable. It recommends focusing on advanced packaging, outsourced semiconductor assembly and testing (OSAT), semiconductor design, system architecture, and wide-bandgap materials such as Silicon Carbide (SiC) and Gallium Nitride (GaN), rather than attempting to directly compete with global leaders in advanced wafer fabrication.
Indian rice export prices extended gains this week on stronger demand and a rebound in the rupee from a record low, while Thai rice demand firmed as buying interest emerged from the Philippines and Africa. India's 5% broken parboiled variety was quoted this week at $337-$345 per ton, up from the last week's $336-$343. Indian 5% broken white rice was priced at $338-$344 per ton. "Demand from African buyers is improving as supplies from other origins are more expensive than those from India," said a Kolkata-based trader.
The EU's trade and investment relationship with China is "not sustainable", the European Commission said on Friday, vowing a stronger response as commissioners discussed how best to shield Europe's industries from surging Chinese imports. Commissioners were pitching ideas ahead of an EU leaders' summit on June 18 to 19, and possible proposals could include forcing EU firms to diversify supply chains or introducing new trade mechanisms to curb China's access to the EU market in chemicals, metals and clean energy technology. "As economic and security interests become ever more intertwined, both dimensions will require a more robust and coherent response," the Commission said.
The U.S. Space Force said on Friday it has awarded Elon Musk's IPO-bound SpaceX a $4.16 billion deal for a satellite program designed to track and target airborne threats. The Space-Based Advanced Moving Target Indicator (SB-AMTI) is designed as an interconnected system-of-systems, combining space-based sensors, secure communications links and ground processing to drive closer cooperation across the government space industrial base. The Trump administration's flagship Golden Dome missile defense system has many layers, one of them being a sensing and tracking layer. The satellites would be expected to play a role in tracking missiles.
Yum Brands is in exclusive talks to sell its Pizza Hut chain to private-equity firm LongRange Capital, a source familiar with the matter said on Friday. The two parties are advancing in discussions about a potential deal that could come together in several weeks, the source said, adding there is no guarantee a deal will be reached. LongRange declined to comment on Reuters' request, while Yum Brands did not immediately respond.
Roughly one-quarter of the non-Iranian large oil tankers trapped inside the Persian Gulf at the outbreak of the Iran war have managed to slip out in a slow, stealthy trickle. Twenty-nine of the 109 bigger vessels, those capable of hauling 700,000 barrels or more, which were stranded when the Strait of Hormuz was effectively shuttered after the conflict erupted on Feb. 28 have now crossed the chokepoint, shipping data compiled by Bloomberg show. While that flow is a fraction of the crude and oil products still locked inside the Gulf, the cargoes have been snapped up by a global market in which inventory buffers are shrinking at a record pace. And with many ships switching off instruments that broadcast their positions, the real number may well be higher.
The United States announced Friday that it is "dismantling a sophisticated Iranian network" used to obtain sensitive military technology. The network "impersonated and defrauded" dozens of American technology companies out of millions of dollars to "acquire advanced equipment -- including spectrum analyzers and security detection devices -- for Iran's defense sector," State Department Tommy Pigott said in a statement.
As artificial intelligence grows bigger and more powerful, one problem is becoming impossible to ignore that is energy. Training and running advanced AI models requires massive amounts of data to move constantly between chips, servers and data centres. Today, most of that data travels through electrical signals and copper connections. But as AI systems scale up, experts say this approach could soon become a major bottleneck. That is why chip giant Nvidia is pouring billions of dollars into a technology many believe could redefine the future of AI infrastructure: photonics. Nvidia’s $6.5 billion push In just the past three months, Nvidia has committed at least $6.5 billion to companies developing photonics technology. The company announced investments worth $2 billion in optical technology firms including Lumentum, Coherent, Marvell to develop advanced optical connectivity solutions and participated in optics startup Ayar Labs $500 million Series E funding round. The investments show Nvidia’s belief that photonics could become a critical piece of the AI ecosystem in the coming years.
The Iran war rocked global bond markets again in May, sending yields to multi-decade highs as traders priced in central bank rate hikes - only for signs of progress in peace talks and weak economic data to bring them sharply lower again. Although a clear end to the conflict would bring immediate relief and lower government borrowing costs around the world, May's moves underscore how investors are twitchy about inflation and growing public debts. TREASURY TANTRUM The 30-year U.S. Treasury yield soared to around 5.2% on May 20, its highest since 2007, as the Iran war roiled the $28 trillion U.S. government bond market.
The value of retail central bank digital currency (CBDC) in circulation declined by 24.08 per cent in 2025-26, despite the continuous pilot use cases for the currency by the Reserve Bank of India (RBI). According to the RBI's annual report, the value of bank notes in circulation in digital form through 'e₹-Retail (e₹-R)' stood at Rs 771.66 crore at the end of March 2026, compared with Rs 1,016.46 crore as on March 31, 2025. Meanwhile, the value of bank notes in circulation in digital form through 'e₹-Wholesale (e₹-W)' stood at nil as on March 31, 2026, unchanged from a year ago.
The finance ministry on Friday launched a single unified online platform for citizens to search and trace unclaimed bank deposits, insurance claims, shares and mutual funds across the financial ecosystem. The initiative is expected to enhance public awareness, improve ease of access to information and contribute to the vision of Viksit Bharat 2047 through greater financial empowerment, inclusion and trust in the financial system, the finance ministry said in a statement. The portal has been launched in collaboration with PSB Alliance to facilitate easier access to information relating to unclaimed financial assets.
India's foreign exchange reserves fell by $7.5 billion to $681.3 billion in the week ended May 22, as the RBI intervened to protect the rupee from depreciating past the 97 per dollar mark. The rupee fell to a record low of 96.96 on May 20. The fall in reserves also comes amid revaluation in gold reserves. Gold reserves fell by $4.5 billion to $114.7 billion, while foreign currency assets decreased by $2.8 billion to $543 billion in the week. The Special Drawing Rights (SDRs) were down by $77 million to $18.748 billion, the apex bank said.
The first signs of foreign portfolio investors (FPI) returning to Indian markets may already be emerging. On May 18, 2026, FPIs were net buyers of Rs 2,813.69 crore in the equity cash market after US President Donald Trump paused fresh strikes on Iran and crude prices eased sharply. While one session does not make a trend, it highlights how quickly market sentiment can shift when key global triggers reverse. But as the saying goes, we cannot miss the forest for the trees. Foreign portfolio investors have pulled out over Rs 2.1 lakh crore from Indian equities in barely four months, a scale of selling described as the worst since foreign portfolio investing in India was permitted in 1993. And with May barely half done, the exodus shows no signs of stopping. To put it in context: this is not a bad year for FPI flows. This is historically bad. The total outflows in 2026 have already surpassed the Rs 1.66 lakh crore pulled out during the entirety of 2025, according to data with NSDL.
At first glance, the numbers appear contradictory. More investors are stopping their mutual fund SIPs than starting new ones, yet monthly SIP inflows are touching record highs. In March 2026, the SIP stoppage ratio crossed 100%, meaning the number of SIP accounts discontinued or completed exceeded fresh registrations, for the first time in recent memory. But in the same month, SIP inflows hit an all-time high of Rs 32,087 crore. The trend continued in April. Inflows remained above Rs 31,000 crore even as the stoppage ratio stayed above 100%. The data raises an obvious question: if more SIPs are being closed than opened, who is driving these record numbers? The answer lies in the changing nature of India’s retail investing landscape and in some important nuances that headline figures tend to obscure.
Companies can now deploy a portion of their Corporate Social Responsibility (CSR) budgets through instruments listed on Social Stock Exchanges (SSEs), following a recent amendment by the Ministry of Corporate Affairs (MCA) that is expected to boost funding for non-profit organisations and strengthen India's social financing ecosystem. The MCA has amended Schedule VII of the Companies Act, 2013 to include subscription to Zero Coupon Zero Principal (ZCZP) instruments listed on Social Stock Exchanges as an eligible CSR activity. The amendment, notified on May 27, allows companies to allocate up to 10% of their annual CSR expenditure towards such instruments. The move provides a new avenue for corporates to support not-for-profit organisations (NPOs) registered on Social Stock Exchanges through a regulated and disclosure-based platform. Market participants believe the change could help channel more institutional funding into the social sector while improving transparency and accountability.
As part of the government’s push to strengthen oversight of artificial intelligence (AI) across Corporate India, company boards might soon have to formally disclose their exposure to AI and digital risks under new reporting obligations. According to an official familiar with the discussions, the ministry of corporate affairs (MCA) might expand the disclosure requirements under the Companies Act to ensure that boards take bigger responsibility for AI-related risks such as data privacy, algorithmic bias, IP infringement, operational disruptions and cybersecurity vulnerabilities. “The timing is right for AI-related risks to be part of board-level disclosures, considering the increasing integration of AI into business operations,” the official said. The move comes as the government aims to strengthen the corporate governance norms amid the surge in AI adoption across sectors. The official noted that these disclosures could come in the form of a ‘AI & digital risk statement’ as part of the board’s report. “These may not initially emerge as standalone disclosures, and could instead evolve as an expansion of the existing cybersecurity and digital risk disclosure framework,” he said.
The Indian banking industry's return on assets (RoA) is expected to slip 10-15 basis points to 1.1-1.2% this fiscal from around 1.3% last fiscal, Crisil Ratings said in a report, citing reduced treasury income and pre-emptive provisioning ahead of the expected credit loss (ECL) framework. Despite the moderation, RoA will remain well above the 20-year average of 0.8% and 10-year average of 0.6%, the ratings agency noted. "The banking sector's net interest margin (NIM) is expected to hold steady at 2.9% this fiscal, after declining 20 basis points (bps) last fiscal," said Subha Sri Narayanan, Director, Crisil Ratings. "Outstanding deposit rates fell ~50 bps against a decrease of ~80 bps in lending rates last fiscal, following a cumulative repo rate cut of 125 bps. However, the cost of liabilities has likely bottomed out. As credit growth continues to outpace deposit growth, competition for deposits remains intense. This, coupled with increasing reliance on pricier funding sources such as bulk deposits, would likely push deposit costs up," she added. Crisil Ratings expects NIM on a full-year basis to remain stable, though higher deposit costs may lead to a correction from last fiscal's exit NIM of above 3% in the fourth quarter. The agency's base-case assumes a stable policy rate this fiscal. Apart from NIM, fee and other income will also impact earnings. Total other income is likely to soften by 5-10 bps to 1.2% last year, primarily due to normalization in treasury income after sharp bond yield gains in H1 last year. Fee and commission income should grow steadily, underpinned by healthy bank credit growth of around 13% this fiscal.
India’s banking sector reported a 46% year-on-year jump in frauds to ₹48,021 crore in FY26, the highest in three years, even as the number of fraud cases more than halved to 10,114 from 23,722 in FY25, according to the Reserve Bank of India’s Annual Report. The fraud amount in FY26 was more than four times the ₹11,013 crore reported in FY24. Public sector banks accounted for 74% of the total fraud amount in FY26, reporting frauds worth ₹35,709 crore across 5,418 cases. Private sector banks reported ₹11,399 crore involving 3,956 cases. The RBI said data for FY26 included fraud classification in 314 cases amounting to ₹30,199 crore pertaining to previous financial years, which were reported afresh after re-examination in compliance with the Supreme Court’s March 27, 2023 judgement. “An assessment of bank group-wise fraud cases over the last three years indicates that although the number of frauds for public and private sector banks have reduced, the amount involved has increased over the years,” the RBI said.
Bank credit stood at Rs 211.87 lakh crore as on May 15, largely flat compared with the previous fortnight, registering a marginal decline of 0.1%, according to data released by the Reserve Bank of India on Friday. On a year-on-year basis, advances grew 16.2%, translating into an absolute increase of Rs 29.59 lakh crore. Deposits came in at Rs 256.89 lakh crore, down 0.7% over the previous fortnight, with an absolute decline of Rs 1.8 lakh crore. Despite the sequential moderation, deposits recorded a healthy 12.2% rise year-on-year, reflecting an increase of Rs 28.01 lakh crore. Investments rose 0.55% on a fortnightly basis to Rs 69.65 lakh crore, while the year-on-year growth stood at 4.2%, with an absolute increase of Rs 2.8 lakh crore.
The Competition Commission of India (CCI) has extended the filing window for commitment applications from 45 days to 60 days, giving erring companies additional time to assess the allegations and come out with remedial measures. Under the draft amendments, released for public consultation on Friday, the CCI has provided further relaxation by allowing companies to rectify deficiencies in their commitment applications within 10 working days from the date of return of their incomplete application by the commission. Crucially, the filing fee paid for the original application will be adjusted against the fees payable at the time of refiling, thereby reducing the cost burden on entities. CCI charges a non-refundable filing fees of Rs 2.5 lakh to Rs 50 lakh – depending on the turnover – for every commitment application. Structural Relaxation The antitrust regulator has also proposed increasing the overall timeline for commitment proceedings from 130 to 180 working days, with the possibility of further extensions wherever required. It’s expected that the longer timeline will enable CCI to hold critical consultations, conduct detailed assessment of the commitments offered, and map out exactly how the remedies will be implemented.
Even though the rupee has approached a critical depreciation threshold, India is unlikely to reopen a special Foreign Currency Non-Resident (Bank) [FCNR(B)] deposit window similar to the one introduced during the 2013 “taper tantrum”, as the country’s forex reserves remain strong and US dollar interest rates are now at record highs. During the 2013 “taper tantrum”, the US Federal Reserve’s benchmark interest rate was near 0.25%, as the Fed was still following an ultra-loose post-global financial crisis monetary policy. In contrast, the federal funds rate is currently around 4%, following an aggressive tightening cycle to combat inflation. US bond yields are also hovering around record highs of nearly 5%. Costly NRI deposits FCNR(B) deposit rates offered by public sector banks currently range between 5.5% and 6%. Any move to mobilise dollar deposits from NRIs would therefore be extremely costly for Indian banks and would likely require substantial subsidisation by the Reserve Bank of India (RBI).
The Income Tax Department has begun the phased rollout of online filing and Excel utilities for ITR-1, ITR-2 and ITR-4 on the e-filing portal for Assessment Year (AY) 2026-27. With the utilities now available, taxpayers can start filing income tax returns for Financial Year (FY) 2025-26. While the annual tax filing process may appear routine, several important changes in ITR forms and disclosure requirements could impact how individuals, salaried employees, landlords, and small business owners file their returns this year. Here's a point-by-point look at the key changes for AY 2026-27: 1. Unrealised rent A significant change has been introduced for taxpayers earning rental income. For AY 2026-27, ITR-1 and ITR-4 forms now include a dedicated field titled "The amount of rent which cannot be realized."
A Mumbai taxpayer who declared annual income of just Rs 6.30 lakh found himself facing a tax addition after the Income Tax Department noticed that he had paid credit card bills worth Rs 27.65 lakh in a year, including nearly Rs 14 lakh in cash. The tax department treated the cash payments as unexplained money and added the amount to his income under Section 69A of the Income Tax Act. However, after examining income tax returns, bank statements and other evidence submitted by the taxpayer and his family members, the Income Tax Appellate Tribunal (ITAT) granted substantial relief and deleted a large part of the addition.
Vedanta Group on Friday said that it has received its highest domestic credit rating in over a decade after rating agency ICRA upgraded the long-term ratings of its key group entities to AA+. Securities with an AA+ rating are considered to have a high degree of safety regarding timely servicing of financial obligations. Such securties carry very low credit risk.
China's SAIC Motor will sell a further 10% stake in its Indian carmaking venture, JSW MG Motor, two sources with direct knowledge of the matter told Reuters, in a deal that will make local partner JSW the biggest shareholder of the unit. The decision follows SAIC's struggles to bring in equity and expand its operations due to New Delhi's investment curbs, even after it trimmed its 100% ownership of the company and brought on board domestic partners, including billionaire Sajjan Jindal's JSW Group.
Defence PSU BEML posted a year-on-year (YoY) decline in its consolidated net profit to Rs 179.82 crore in Q4FY26 from Rs 287.55 crore reported in Q4FY25. The company’s revenue from operations rose 8.57% to its highest-ever quarterly revenue of Rs 1,794.17 crore, compared with Rs 1,652.53 crore reported in Q4FY25. BEML said it has recorded the highest ever closing order book position of 15,896 crores as on March 31.
Reliance Industries Limited is targeting the start of commercial-scale production at its battery giga-factory around July, while simultaneously increasing its planned annual manufacturing capacity to 40 gigawatt hours (GWh) of lithium iron phosphate (LFP)-based batteries from the earlier 30 GWh target, according to the company’s latest annual report. In its FY26 annual report, RIL said its Battery Energy Storage System (BESS) giga-factory has entered an “advanced commissioning” stage. “With civil construction complete and equipment installation underway, production will ramp through the second half of 2026, focused on LFP chemistry for utility-scale BESS and mobility,” the company said.
InterGlobe Aviation (IndiGo) posted a consolidated net loss of ₹2,536.9 crore for the March quarter, compared with a profit of ₹3,067.5 crore a year earlier, as foreign exchange losses, elevated costs, and exceptional charges weighed heavily on earnings. The result was sharply below Bloomberg analyst estimates of a profit of ₹1,871 crore. Revenue rose 1.3% year-on-year (Y0Y) to ₹22,438.4 crore from ₹22,151.9 crore in the same period last year, indicating modest top-line growth despite a challenging operating environment. However, profitability was significantly impacted by rising costs and currency volatility.
Asian Paints‘ fourth-quarter (Q4FY26) profit and revenue numbers beat estimates amid demand momentum seen during the period. An exceptional item of Rs 183 crore in the year-ago quarter also contributed to the sharp rise seen this year in bottomline. The company’s net profit for the March quarter grew 69.3% year-on-year to Rs 1,172 crore. A year ago, net profit stood at Rs 692 crore. Bloomberg consensus estimates had pegged Q4 net profit at Rs 1,043 crore.
Mid-tier IT services firm Happiest Minds Technologies on Friday reported a 51.7% growth in consolidated net profit to Rs 61.17 crore for the fourth quarter of FY26, up from Rs 40.3 crore in the previous quarter. The Bengaluru-based company’s AI-focused programme, announced in the last quarter, generated significant growth in deal momentum, while also expanding its operating margins. The company’s revenue from operations also increased 2.8% sequentially to Rs 604.08 crore from Rs 588 crore in the third-quarter of FY26. Meanwhile, on a yearly basis, the firm’s consolidated net profit jumped 79.9% during the quarter, rising from Rs 34 crore in the same quarter last year. On the other hand, the firm’s total revenue grew 10.9% from Rs 544.57 crore posted a year ago. Operating margins increased 5.3% q-o-q to Rs 106.21 crore from Rs 85 crore in the previous quarter.
India has emerged as the world's fifth mos digitalised economy, overtaking several advanced nations as rapid adoption of artificial intelligence, digital public infrastructure and online services reshape the global technology landscape, according to a report released on Friday. The State of India's Digital Economy (SIDE) 2026 repor by the ICRIER-Prosus Centre for Internet and Digital Economy (IPCIDE) ranked India fifth globally on the CHIPS-Combined Index, behind the US, China, Singapore and the UK. India ranked eighth in 2025.
India's services trade saw an expansion in imports and exports during April, according to the Reserve Bank of India (RBI). The data showed that exports grew by 12.7 per cent to USD 37.021 billion in April, registering the highest growth in the calendar year.
India’s economy continues to show resilience despite growing global uncertainty triggered by the conflict in West Asia, but rising crude oil prices, inflationary pressures and the risk of a weak monsoon could weigh on growth in the coming months, according to the Department of Economic Affairs’ (DEA) Monthly Economic Review for May released Saturday. The finance ministry’s economic assessment said domestic fundamentals remain supportive even as the external environment has turned more challenging. Manufacturing and services activity stayed in expansion mode, labour market conditions remained stable and foreign exchange reserves continued to provide a buffer against global shocks.
India and Korea have agreed to address New Delhi’s concerns over the widening bilateral trade deficit within the framework of the existing Comprehensive Economic Partnership Agreement (CEPA), instead of negotiating a fresh trade pact. “Both sides acknowledged India’s bilateral trade deficit, which has risen significantly since the India-Korea CEPA came into force in 2010, and agreed to address the issue within the overall India-Korea CEPA framework,” the commerce ministry said in a statement.
The Centre is expected to announce a slew of measures within a week to boost foreign capital inflows and stem outflows, in a move that will help support the rupee and make it easier to finance a widening current account deficit. While the exact details are still being worked out, sources said more than a dozen proposals are under discussion. These include a reduction in long-term capital gains tax (LTCG) on listed equities and government bonds, and a cut in the withholding tax on interest income earned by foreign investors on government securities. Both tax reliefs may be subject to specified time limits.
India’s crude oil imports rose 11.2% month-on-month to 5.04 million barrels per day (mbd) in May, the highest level since the outbreak of the Iran conflict and potentially the strongest-ever import volume for the month, as refiners stepped up purchases of Russian and Venezuelan crude while rebuilding domestic inventories. Kpler data showed crude imports increased by about 509,000 barrels per day from 4.53 mbd in April and were significantly higher than the country’s 2025 average import level of around 4.8 mbd.
India is likely to introduce a mandate for blending isobutanol with diesel as early as this year, a move that could have a bigger impact on the country’s energy security than ethanol blending in petrol given diesel consumption is nearly twice that of petrol, said Road transport and highways secretary V Umashankar. Speaking at the CII Multimodal Transportation and Logistics Summit in New Delhi on Friday, Umashankar said the government was examining diesel blending with “great seriousness” and early results from ongoing trials were encouraging.
India’s energy investment is projected to hit a record $170 billion in 2026, driven by rapid expansion in solar photovoltaic (PV) capacity and a surge in oil‑refining projects, as per a report by International Energy Agency (IEA) said. Energy spending in India has risen at an average annual rate of 11% over the past five years, with solar PV investment up about 25% annually and oil‑refining investment growing roughly 23% in the same period.
India’s economy is expected to remain resilient in 2026-27 despite rising geopolitical tensions and a weakening global environment. However, a prolonged conflict in West Asia could weigh on growth, inflation and key sectors, according to the Reserve Bank of India’s annual report. “The adverse impact of outbreak of the conflict in West Asia in end-February 2026 is reflected in the forecasts of global growth and inflation,” the RBI said.
Indonesia's annual inflation rate likely accelerated in May to 2.97%, a Reuters poll showed on Friday, closer to the upper end of the central bank's target range amid rising prices of non-subsidised fuel, airfares and cooking oil. Following are details from the survey for Indonesia's inflation rate in May, its trade performance in April and context about the economic data:
Italy's unemployment rate fell slightly to 5.1% in April and a net 123,000 jobs were created during the month, national statistics bureau ISTAT reported on Friday. • The jobless rate was below a median forecast of 5.3% in a Reuters poll of eight analysts, following a 5.2% rate in March.
Taiwan's tech-driven economy is expected to grow at its fastest pace in 16 years in 2026, the government statistics agency said on Friday, thanks to booming demand for artificial intelligence-related technologies. Gross domestic product is now expected to be 9.64% higher than a year earlier, the agency said, the quickest pace since 10.25% was recorded in 2010 and revising up the 7.71% forecast it issued in February.
Inflation fell in four key German states in May, preliminary data showed on Friday, suggesting Germany's national inflation rate could ease this month despite higher energy prices due to the Iran war. In Bavaria, the inflation rate fell to 2.6% in May from 2.9% in April. In North Rhine-Westphalia, it decreased to 2.4% from 2.7%, in Baden-Wuerttemberg to 2.4% from 2.6% and in Lower Saxony it fell to 2.7% from 3.0%.
Italian EU-harmonised consumer prices (HICP) rose by 0.4% in May from the month before, with the annual inflation rate surging to 3.3% from 2.8% in April amid increasing energy costs due to turmoil in the Middle East, preliminary data showed on Friday. The reading was slightly above a median forecast in a Reuters survey of 17 analysts which pointed to an increase of 0.3% month-on-month and a year-on-year rise of 3.2%.
Bank of England Governor Andrew Bailey said on Friday that allowing inflation to run above the central bank's 2% target is justified given the uncertainty about the impact of the Iran war on the economy and the weak pace of growth. "But that tolerance would weaken if signs of second-round effects begin to emerge," Bailey said, referring to longer-term inflation pressures, in a speech at a conference in Reykjavik organised by Iceland's central bank.
Nigerian President Bola Ahmed Tinubu said on Friday his economic reforms stabilised the country and revived investor confidence, despite a steep cost-of-living squeeze on households three years into his presidency. Tinubu, who is seeking re-election in January, cited a near fivefold surge in the stock market to a record 250,000 points, rising market capitalisation and increased infrastructure spending, including more than 2,700 km (1,678 miles) of roads under construction or rehabilitation, and ongoing rail upgrades.
Japanese authorities spent 11.7 trillion yen ($73.5 billion) intervening in foreign exchange markets over the past month to support the yen, but with only limited effect as the currency hovers near the same levels that prompted Tokyo to act. Ministry of Finance data released on Friday confirmed traders' suspicions that officials entered the market at the turn of the month, likely on multiple occasions during Japan's Golden Week holidays, when market liquidity was thin.
Italy's economy grew by 0.3% in the first quarter from the previous three months, boosted by strong exports, national statistics bureau ISTAT said on Friday, revising up a previous printout pointing to a 0.2% expansion. The main effects of the conflict in Iran, which began with US-Israeli strikes on February 28, are expected to be felt from the second quarter.
Inflation in the euro zone's four largest economies hovered above the European Central Bank's 2% target for a third straight month in May, preliminary data showed on Friday, as a rise in fuel costs triggered by the Iran war began to feed through to other prices. Readings from France, Italy, Spain and Germany are likely to cement the case for a rate hike from the European Central Bank next month and stoke some worries about whether high inflation is beginning to take root in the euro zone.
Brazil's economy rebounded in the first three months of 2026, supported by household consumption and stronger investment, against a backdrop of a tight labour market and government stimulus that has clouded the outlook for interest rate cuts. Latin America's largest economy expanded 1.1% from the prior quarter, government statistics agency IBGE said on Friday, slightly above the 1.0% growth expected in a Reuters poll.
The U.S. trade deficit in goods contracted more than expected in April as a surge in exports blunted rising imports, but economists cautioned the trend was unlikely to be sustainable, with businesses ramping up investment in artificial intelligence. The advance report from the Commerce Department on Friday suggested the three-month U.S.-backed war with Iran, which has disrupted shipping in the Strait of Hormuz, had yet to have a significant impact on the nation's trade flows. The artificial intelligence spending boom is largely dependent on imports, including computer chips.
Federal Reserve officials continued on Friday to signal the U.S. central bank may need to raise interest rates in the future if the war in the Middle East leads to a persistent increase in already-high inflation. The potential shift in the monetary policy outlook has even been embraced by Fed Vice Chair for Supervision Michelle Bowman, one of the central bank's most dovish policymakers. Bowman told a conference in Iceland on Friday that the war and its resulting energy shock could change her view on the outlook for rates.
