Business

India's digital payments ecosystem continued its strong growth trajectory in May, with UPI transaction volumes rising 24 per cent year-on-year to 23.2 billion. Transaction value touched Rs 29.9 lakh crore, while UPI expanded its presence across multiple international markets.

Indian equity markets opened June on a strong note, with Sensex and Nifty rising nearly 1% led by IT gains, despite high oil prices and geopolitical tensions. Global cues were positive as Asian markets rallied and crude oil prices surged

India and Oman’s Comprehensive Economic Partnership Agreement (CEPA), signed in December 2025, comes into effect today, June 1, 2026. The deal expands opportunities in services and professional mobility, strengthening bilateral trade and economic ties.

India and the United States will begin four-day negotiations from June 1 to finalise an interim trade agreement under the broader bilateral trade framework. Talks will focus on market access, tariffs, investment rules, and economic security alignment

India and Oman will implement their Comprehensive Economic Partnership Agreement from June 1, granting wider market access and boosting trade, services, and investments. The pact is expected to strengthen India's presence in the Gulf region while benefiting key export sectors

Indian and Canadian officials expressed confidence that negotiations on the proposed Comprehensive Economic Partnership Agreement could conclude this year. Discussions at a Regina summit highlighted renewed bilateral engagement, trade expansion goals, and efforts to reset ties after diplomatic tensions stalled talks

The combined market valuation of seven of India's 10 most-valued companies fell by Rs 1.54 trillion during the holiday-shortened week. HDFC Bank, Bharti Airtel and TCS led the declines, while Larsen & Toubro, SBI and LIC posted gains.

Gautam Adani told shareholders the group has moved past US legal challenges, raising ₹1.5 lakh crore investments in energy, logistics, and digital infrastructure. Adani stressed AI-driven demand will require massive power and data capacity, highlighting expansion in renewables, ports, airports, and data centres

NLC India and Reliance Industries will jointly explore underground lignite gasification in Gujarat to boost domestic fuel supply. The project aims to produce synthesis gas, reduce LNG imports, and support India’s coal gasification plan under a Rs 37,500 crore government scheme 

India halved windfall tax on petrol exports to ₹1.5/litre, cut diesel levy to ₹13.5/litre and ATF to ₹9.5/litre from June 1. Domestic duty unchanged; measures aim to ensure fuel availability amid crude above $100 and West Asia conflict

SBI Research expects RBI to hold repo rate in June, using short-term tools to manage rupee pressure. FY26 GDP growth seen at 7.5%, FY27 at 6.6%. Inflation risks persist, crude may stay above $90, urging excise duty cuts 

Many of Telangana’s 1,080 zero-population villages may not be abandoned at all. Duplication, GPS errors and conflicting entries expose flaws in Mission Antyodaya data, raising serious questions about the reliability of Union government’s rural development database

India imports more than 700 tonnes of gold annually as demand for jewellery, investment and cultural purposes continues to exceed domestic production. The article explains the role of prices, imports, exchange programmes and changing consumer behaviour in shaping the gold market

AIMTC has urged Prime Minister Narendra Modi to reduce diesel prices following a sharp decline in international crude oil rates. The transport body said high diesel prices are increasing operating costs, fuelling inflation and putting financial pressure on transport operators

Global crude oil prices fell to six-week lows after reports of a possible extension of the Iran-US ceasefire and prospects of reopening the Strait of Hormuz. India said refineries have adequate crude stocks and fuel supplies remain stable despite regional uncertainties

Zara India's profit declined 31.9 per cent to Rs 204.14 crore in FY26, while revenue from operations fell 1.1 per cent. Trent also reduced its stake in the Zara joint venture through a buyback offer during the year

IndiGo reported a Rs 2,536.9 crore loss in the March quarter due to rupee depreciation, operational disruptions and labour law-related expenses. Despite higher capacity and increased total income, multiple challenges impacted the airline’s profitability during the 2025-26 financial year

The RBI’s balance sheet expanded 20.6 per cent to Rs 91.97 lakh crore in FY26, driven by strong growth in domestic investments, gold holdings and foreign investments. The central bank also declared a record dividend of around Rs 2.87 lakh crore to the Centre

Tesla has launched the Model Y Premium Rear-Wheel Drive in India at a starting price of Rs 50.89 lakh. The electric SUV offers upgraded interiors, 500 km range, advanced safety features and financing options, strengthening Tesla’s expansion plans in the Indian market

An India-bound oil tanker, Nissos Keros, has cleared the Strait of Hormuz amid a geopolitical maritime crisis. Iran's IRGC allowed the transit following formal coordination, though ongoing tensions and proposed transit fees continue to disrupt global energy traffic 

The rupee appreciated by 5 paise against the US dollar in early trade after the US and Iran agreed to extend their ceasefire by 60 days. Forex traders said easing concerns over oil supply disruptions and stable crude prices supported the Indian currency.

Anthropic raised $65 billion in a Series H round led by Altimeter, Sequoia, and others, boosting its valuation to $965 billion and surpassing OpenAI. The capital will expand compute capacity and scale its Claude AI assistant amid a $47 billion annualized revenue run rate

Indian equities rose modestly Friday, with Sensex and Nifty higher amid easing crude prices and strong earnings. IT stocks led gains, while FMCG remained flat. Asian markets surged, Wall Street closed positive, and Brent crude slipped below $92 per barrel

External Affairs Minister S Jaishankar attended the EU Foreign Ministers’ informal Gymnich meeting in Cyprus, discussing emerging multipolar order and cooperation. He also held bilateral talks with counterparts from Spain, Ukraine, Saudi Arabia, and the EU on trade, security, and regional developments