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    Rupee falls 10 paise to close at 94.95 against US dollar
    Clayfin Expands into Voice AI Capabilities with Strategic Acquisition of Louie Voice
    India, Oman free trade pact comes into force
    D. Y. Patil Deemed to be University Online Launches India’s First Online MBA in Product Management Alongside New-Age Programs in Fintech and AI
    India’s seafood exports hit record high in 2025–26: Official
    Kings Infra Reports Strong FY 2025-26 Performance Revenue grows 30.13% to INR 162.15 Crore | PAT rises 24.41% to INR 16.36 Crore | EPS at INR 6.68
    Anondita Medicare Limited Secures First Export Order Worth INR 43.14 Crore Under South African Government Condom Tender Program
    Exato Technologies Limited Reports 35% Revenue Growth and 67% PAT Growth YoY in FY26; Builds a Record INR 600 Crore Order Book
    GST collections grow 3.2 pc in May to Rs 1.94 lakh cr
    Trump facing new inflation warning from bond market, adding to his mid-term challenges
    Rupee falls 9 paise to 94.94 against US dollar in early trade
    DRI intensifies anti-narcotics drive in Kerala under Operation Chakravyuh; 24 kg narcotic contraband seized; 5 arrested
    DRI seizes around 105 kg ganja in Bihar in its anti-narcotic drive; two arrested
    Don’t want Canadian businesses to miss out on FTA with India: Trade Minister Sidhu
    Canada, India officials express optimism over trade pact talks
    UK Foreign Secretary to visit India, China for talks on global challenges
    Onion farmers seek Rs 10,000 crore revival package, stable export policy from Centre
    Govt cuts windfall tax on petrol, diesel, ATF exports
    Odisha: Cooperative official held for misappropriating govt funds worth over Rs 33 lakh
    Court orders framing of charges against Jacqueline, Sukesh for money laundering; 'conman' charged under MCOCA in another case
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    June 1, 2026
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    Rupee weakness against the US dollar intensifies as geopolitical tensions, crude prices and dollar strength weigh on sentiment
    Rupee depreciated against the US dollar amid renewed geopolitical tensions, higher crude oil prices and a stronger dollar overseas. Market participants linked the weakness to adverse global risk sentiment, rising US Treasury yields and uncertainty around continued peace talks, while attention shifted to the upcoming RBI Monetary Policy Committee meeting. The broader backdrop included a firmer dollar index, higher Brent crude futures, lower domestic equity indices, net foreign institutional outflows, a fall in India's forex reserves and higher gross GST collections in May.
    June 1, 2026
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    Voice AI banking expands accessibility as Clayfin acquires Louie Voice to enable simpler digital transactions.
    Clayfin has acquired Louie Voice, a voice banking platform that uses Voice AI to enable end-to-end banking transactions through natural voice commands within mobile applications and websites. The platform is designed to improve accessibility and inclusivity by reducing manual navigation and supporting users across different literacy levels, age groups, language preferences, and accessibility needs. It supports 11 Indian and 40 global languages and is intended to expand AI-led digital engagement and voice banking experiences for financial institutions.
    June 1, 2026
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    Comprehensive Economic Partnership Agreement opens preferential market access for Indian exporters in Oman across key sectors.
    India and Oman have brought into force their Comprehensive Economic Partnership Agreement, enabling preferential market access in Oman for Indian exporters in sectors such as textiles, leather, plastics, marine products, automobiles, sports goods and agri-items. The agreement was signed in Muscat on 18 December 2025 and entered into force on 1 June 2026, after completion of internal processes by both parties.
    June 1, 2026
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    Online education programmes expand industry-aligned training in product management, fintech, digital banking, applied AI and modern computing.
    Online education programmes were launched to address demand for industry-aligned digital talent in product-led business models, fintech, artificial intelligence and modern computing. The launch includes an Online MBA in Product Management, together with an Online MBA in Fintech & Digital Banking and an Online MCA in Applied AI and Modern Computing. The product management curriculum combines management study with product strategy, user-centric innovation, agile methodologies, analytics, go-to-market execution and digital transformation.
    June 1, 2026
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    Seafood exports record growth as frozen shrimp drives India's overseas earnings and major markets stay strong.
    India's seafood exports reached a record level in 2025-26, with frozen shrimp remaining the dominant export item and the main contributor to foreign exchange earnings. The Marine Products Export Development Authority reported that the United States, China, the European Union and Southeast Asia were major markets, while frozen fish, dried products, squid, cuttlefish, chilled products and live products also contributed to export earnings. Visakhapatnam Port, Jawaharlal Nehru Port Trust and Kochi Port were the leading ports handling seafood cargo.
    June 1, 2026
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    Aquaculture and export strategy drive stronger revenue, profitability, and a five-pillar execution framework for the next year.
    Revenue from operations for FY 2025-26 increased to INR 162.15 crore, with EBITDA, profit before tax, and profit after tax also rising year on year. The company attributed the performance to focus on aquaculture and exports, disciplined cost management, and stronger farm-level operations. It also set out a five-pillar FY 2026-27 execution framework covering strategic alliances, consolidation, digitisation, monetisation, and optimisation.
    June 1, 2026
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    Export business advances as Anondita Medicare secures first South African government condom supply order under tender framework.
    Export business under a South African government procurement programme advanced when Anondita Medicare Limited secured its first export purchase order for male condoms from Supra Healthcare Johannesburg (Pty) Ltd. The order, valued at approximately INR 43.14 crore, covers supply and delivery equivalent to 50 forty-foot containers and is expected to be executed by 30 September 2026. The transaction marks the commencement of supplies under the approved South African tender framework and is described as strengthening the company's export business.
    June 1, 2026
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    Revenue growth and record order book drive Exato Technologies' FY26 expansion, profitability gains, and global footprint.
    Exato Technologies Limited reported strong FY26 consolidated financial performance, with revenue from operations rising 35% year-on-year and Profit After Tax increasing by 67% year-on-year. The company also disclosed a record order book of INR 600 crore, reflecting strong revenue visibility, and noted expansion through a wholly owned subsidiary in Australia alongside existing subsidiaries in the USA and Singapore.
    June 1, 2026
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    GST collections rise on stronger goods and services supplies, with import-linked receipts and net revenues also moving higher.
    Gross GST collections increased in May on the back of stronger supplies of goods and services and continued growth in collections from imports. Domestic GST collections under CGST, SGST and IGST were reported for the month, while taxable supplies of goods and services recorded significant year-on-year growth, indicating firm domestic demand and resilience in consumption. IGST collections from imports also rose, GST refunds increased modestly, and net GST revenues were higher after adjustment of refunds.
    June 1, 2026
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    Rising bond yields and debt sustainability concerns deepen affordability pressures and heighten political risk ahead of the mid-term elections.
    Rising US bond yields and higher Treasury borrowing costs are intensifying affordability pressures, slowing growth expectations and increasing political risk as investors reassess the sustainability of government debt. Economists quoted in the report say the administration's stated deficit-reduction measures are unlikely to materially close the gap, while debt-service costs have already risen sharply and are projected to remain a major budget burden. Higher rates are feeding into mortgage costs, car sales weakness and broader voter concerns about living costs ahead of the mid-term elections.
    June 1, 2026
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    Rupee weakness reflects crude oil pressure, safe-haven dollar demand and suspected central bank support in the forex market.
    The rupee weakened in early trade against the US dollar amid higher crude oil prices, a firmer dollar index and heightened geopolitical tensions linked to the Israel-Lebanon conflict. Market participants also referred to suspected RBI intervention in the currency market, a decline in India's forex reserves and net foreign institutional investor selling in equities.
    June 1, 2026
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    Anti-narcotics operations under Operation Chakravyuh seize narcotic contraband and expose trafficking through baggage, courier consignments and export cargo.
    Coordinated anti-narcotics operations by the Cochin Unit of the Directorate of Revenue Intelligence under Operation Chakravyuh led to the seizure of narcotic drugs and psychotropic substances, including methaqualone, methamphetamine and hashish oil, intended for illicit distribution and trafficking. The contraband was detected through passenger baggage at an airport, concealment in courier consignments and outbound export cargo. More than 24 kg was seized and five persons were apprehended under the Narcotic Drugs and Psychotropic Substances Act, 1985.
    June 1, 2026
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    Anti-narcotic enforcement targets illicit ganja transportation, with seizure and arrests under the NDPS Act.
    Anti-narcotic enforcement action involved the seizure of 104.9 kg ganja in Bihar and the arrest of two persons for illicit transportation under the relevant provisions of the NDPS Act, 1985. The action formed part of a continuing drive by the Directorate of Revenue Intelligence to curb drug trafficking and dismantle narcotics supply networks across India.
    June 1, 2026
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    Free trade agreement negotiations with India gain momentum as Canada seeks new market access for exporters and sector opportunities.
    Canada and India are continuing negotiations on a proposed free trade agreement/Comprehensive Economic Partnership Agreement amid renewed bilateral engagement after talks stalled in 2023. Canadian officials said the negotiations remained active and could conclude later in the year, while the discussions are aimed at keeping Canadian businesses competitive and opening new markets for Canadian exporters. The summit also highlighted agricultural trade issues, including Canadian pulse exports and existing Indian duties on yellow peas and lentils.
    May 31, 2026
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    Free trade agreement talks gain momentum as Canadian and Indian officials signal renewed optimism over a comprehensive partnership deal.
    Canadian and Indian officials expressed optimism that negotiations on a proposed Comprehensive Economic Partnership Agreement would resume and advance after talks stalled in 2023, reflecting renewed bilateral engagement between the two countries. Public comments at a business summit indicated continuing discussions on a free trade agreement and confidence that a deal could be reached later in the year, alongside a broader push to expand bilateral trade.
    May 31, 2026
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    UK-India trade and global security talks drive Yvette Cooper's visit to China and India amid wider cooperation plans.
    UK Foreign Secretary Yvette Cooper is due to visit China and India for talks on global challenges, bilateral cooperation and the UK-India Vision 2035. The discussions are expected to cover the Strait of Hormuz, Russia's invasion of Ukraine and the Ebola outbreak in Africa, while the India visit will include engagement with business, academia and government stakeholders linked to the free trade framework.
    May 31, 2026
    Show AI Summary
    Onion growers' revival package demand centers on export stability, price protection, storage support and direct farmer assistance.
    Onion growers in Maharashtra have sought a comprehensive revival package and a stable long-term export policy to address losses attributed to repeated export bans, export duty, minimum export price restrictions, buffer stock releases at low domestic prices, and crop damage from adverse weather, disease, spurious seeds and storage losses. The association also wants direct transfer of assistance into farmers' bank accounts, subsidies for certified seeds and storage infrastructure, and support for processing industries and farmer-owned value-added units.
    May 31, 2026
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    Windfall gains tax on fuel exports reduced as export duties and cess are eased while domestic rates stay unchanged.
    Windfall gains tax on export of petrol, diesel and aviation turbine fuel was reduced from 1 June, with the levy on petrol cut to Rs 1.5 per litre, diesel reduced to Rs 13.5 per litre and aviation turbine fuel reduced to Rs 9.5 per litre. Road and infrastructure cess on export of petrol and diesel was made nil, while domestic duty rates on petrol and diesel remained unchanged.
    May 30, 2026
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    Cooperative fund misappropriation alleged through fabricated entries and diversion of government deposits for personal use.
    Cooperative funds management was alleged to have been manipulated through fabricated day-book entries and diversion of government deposits by a former secretary of a service co-operative society. The allegations concern misappropriation of funds entrusted during his tenure, where the account records were shown as balanced while the corresponding cash was not deposited into the cooperative bank. The funds were stated to have been meant for agricultural and cooperative development schemes and were allegedly diverted for personal use.
    May 30, 2026
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    Money laundering and organised crime charges framed against accused over alleged extortion, impersonation, and layered proceeds of crime.
    Delhi court ordered framing of charges in a money-laundering prosecution against Jacqueline Fernandez, Sukesh Chandrashekhar and others, finding prima facie material for proceeding under Section 3 of the Prevention of Money Laundering Act, punishable under Section 4. The allegations concerned proceeds of crime generated through extortion, cheating, impersonation and criminal intimidation, and their concealment, layering and projection as untainted property. In the connected case, charges were also directed under MCOCA, the Information Technology Act and related penal offences for organised crime and personation of public servants.

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      Customs & Trade

      UK Foreign Secretary to visit India, China for talks on global challenges

      May 31, 2026

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      London, May 31 (PTI) UK Foreign Secretary Yvette Cooper will travel to China on Monday before a visit to India on a two-nation tour focussed on tackling the most global challenges and bolstering cooperation.

      The Foreign, Commonwealth and Development Office (FCDO) said the ministerial engagements with the two major powers are expected to cover the situation in the Strait of Hormuz, Russia’s invasion of Ukraine and the Ebola outbreak in Africa.

      Cooper is scheduled to hold bilateral talks with External Affairs Minister S. Jaishankar on Thursday, followed by interactions across business and academia.

      "The Foreign Secretary (Cooper) will be in India where she will meet with External Affairs Minister Dr S Jaishankar and meet with entrepreneurs, academics and government partners who are delivering on the UK-India Vision 2035," the FCDO said.

      Her visit to Delhi comes nearly a year after the bilateral Free Trade Agreement (FTA) was signed off by Prime Minister Narendra Modi and his UK counterpart, Keir Starmer, last July.

      The leaders also endorsed the 'UK-India Vision 2035' at the time to reaffirm a shared commitment to unlock the full potential of a "revitalised partnership".

      It was dubbed an ambitious and future-focused agreement, which underscores both nations’ resolve to work together for “mutual growth, prosperity and to shape a prosperous, secure, and sustainable world in a time of rapid global change”.

      While the UK ratification process of the India-UK Comprehensive Economic and Trade Agreement (CETA) has progressed through Parliament, the FTA hit some hurdles over Britain's upcoming steel import restrictions.

      The 2026 'India Meets Britain Tracker' released earlier this week found that bilateral trade between India and the UK rose to 47.4 billion pounds in 2025, an 11.7 per cent year-on-year increase and a figure expected to be further boosted once the CETA is implemented in the coming weeks.

      While in Beijing, the UK Foreign Secretary will hold discussions with Vice-President Han Zheng and Foreign Minister Wang Yi. Cooper will then travel to Shenzhen for a programme focussed on science and technology on Wednesday before leaving for India.

      Her visit to South Asia comes at a time of considerable global turmoil amid ongoing conflicts in West Asia and Europe, impacting the growth prospects of all major world economies. PTI AK AMS

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