📰 India Business Brief: Top Headlines for May 29, 2026

Business Standard

• India marks a financial milestone today with the commencement of the country's first rainfall derivatives contract, providing a new hedging tool for weather-sensitive sectors.
• Reliance Industries has issued a warning regarding "extreme volatility" in global markets, citing the ongoing West Asia crisis as a primary risk factor for its operations.
• Coal India is reportedly planning a massive ₹60,000 crore investment to boost coal gasification, aligning with the government's long-term energy security goals.
• The International Energy Agency (IEA) projects that India's total energy investment is likely to reach $170 billion in 2026, driven by a surge in renewable projects and grid modernization.
• JSW Motors is gearing up for a high-profile market entry, with plans to debut its first vehicle lineup during the upcoming Diwali season.

Economic Times

• The Indian government is finalizing the PLI 2.0 scheme for mobile phones, which will mandate a domestic value addition of over 55% to reduce reliance on imported high-value components.
• Global crude oil prices saw a slight decline on Friday, with Brent crude slipping to $93.36 per barrel as markets hope for a successful extension of the U.S.-Iran ceasefire.
• Despite a booming demand for electric vehicles, domestic giants Tata Motors and Mahindra & Mahindra are struggling to scale production fast enough to meet the current rush.
• Reliance Retail is reportedly pivoting its strategy to focus more heavily on the luxury segment, moving away from its previous aggressive expansion in the wholesale sector.
• Financial analysts suggest that India may soon tap into significant corporate capital reserves to fund its "Big Four" economic dream of becoming a global manufacturing powerhouse.

Mint

• The United States and Iran have reached a tentative agreement to extend their ceasefire for another 60 days, though the deal currently awaits final approval from President Trump.
• AI startup Anthropic has reached a staggering valuation of $965 billion following its latest funding round, officially eclipsing OpenAI in market worth.
• New data reveals that U.S. inflation hit a three-year high in April, while weekly jobless claims rose to 215,000, adding pressure to global interest rate outlooks.
• The Supreme Court of India has upheld the 28% GST levy on online gaming firms, confirming the validity of retrospective tax claims that have impacted the industry.
• India's Alternative Investment Fund (AIF) sector is showing signs of maturity, with pension funds expected to begin providing long-term capital to the industry shortly.

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