📰 India Business Brief: Top Headlines for June 01, 2026

Business Standard

• India-Oman CEPA Takes Effect: The Comprehensive Economic Partnership Agreement (CEPA) between India and Oman officially comes into force today, June 1. The pact provides duty-free access to 98% of Indian tariff lines, aiming to double outbound shipments and bypass the conflict-prone Strait of Hormuz for regional trade.
• Commercial LPG Prices Hiked: State-run oil marketing companies have increased the price of a 19 kg commercial LPG cylinder by ₹42. In Delhi, the new price stands at ₹3,113.50, impacting industrial and commercial clients.
• Corporate Earnings Update: Q4 FY26 scorecards show India Inc's revenue gaining pace with double-digit growth. However, NMDC reported a significant jump in profit to ₹2,017.57 crore, while IndiGo (InterGlobe Aviation) swung to a consolidated net loss of ₹2,536.9 crore.
• Market Sentiment: The GIFT Nifty signaled a tepid opening for the domestic indices as traders await clarity on a potential US-Iran trade deal. Global cues remain mixed with South Korea’s Kospi hitting record highs while US-Iran tensions continue to weigh on energy-sensitive markets.

Economic Times

• Windfall Tax Revision: The government has notified revised windfall tax rates on fuel exports effective June 1. Levies have been reinstated on diesel and aviation turbine fuel (ATF) after a period of nil duties, reflecting shifts in global refining margins and crude prices.
• India-US Trade Talks Begin: A high-level US delegation begins a four-day visit to India today to finalize the legal text for an interim trade agreement. The talks aim to recalibrate tariffs and discuss India's goal of purchasing $500 billion in US energy and technology products over five years.
• Tech Job Market Slump: Active tech job openings in India have hit a 28-month low. The downturn is attributed to rapid AI adoption and changing US immigration dynamics, leading to a structural decoupling of revenue growth from headcount expansion.
• CNG Price Hike in Mumbai: Residents in Mumbai face higher fuel costs as CNG prices were raised by ₹2/kg, alongside an increase in piped cooking gas (PNG) rates.

Mint

• Fuel Export Levies Eased: The Finance Ministry has lowered export duties on petrol, diesel, and ATF for the fortnight starting June 1 compared to the previous high rates. The new rates are set at ₹1.5 per litre for petrol, ₹13.5 for diesel, and ₹9.5 for ATF to balance domestic availability with export incentives.
• GIFT City Expansion: GIFT City’s "Global Access Provider" licence is seeing increased traction from proprietary trading firms. The licence offers a 20-year tax holiday and a capped fee structure, attracting brokers looking for overseas market access.
• Stock Market Volatility: Following a sharp 1,000-point plunge in the Sensex during the final session of May, analysts expect continued volatility. Resistance for the Nifty 50 is pegged at the 23,750–23,800 range as profit booking continues amid geopolitical uncertainty.
• RBI Policy Outlook: Ahead of the upcoming Monetary Policy Committee (MPC) meeting, experts suggest the RBI is likely to maintain a status quo on interest rates due to persistent inflation concerns and the ongoing West Asia crisis.

TAGS: Headlines, Business News, Economic Times, Business Standard, Mint, Top News

Tags: Headlines Business News Economic Times Business Standard Mint Top News