📰 India Business Brief: Top Headlines for July 16, 2026

Economic Times

• India and the United Kingdom have officially finalized a significant free trade agreement, granting Indian exporters zero-duty access for nearly all goods and services.
• The Union Cabinet has cleared the second phase of the India Semiconductor Mission with a total outlay of ₹1.27 lakh crore over six years to bolster the domestic chip ecosystem.
• Multinational corporations in the automotive and pharmaceutical sectors are reportedly shifting inventory to Indian distribution hubs to diversify supply chains away from West Asian regions currently facing geopolitical disruptions.
• The government has announced an increase in windfall taxes on the export of diesel and aviation turbine fuel (ATF) following a sharp surge in global crude oil prices.

Business Standard

• Federal Reserve Governor Lisa Cook has signaled a readiness to act if inflation does not cool soon, citing price pressures driven by the ongoing AI infrastructure build-out.
• A revised US bill has placed India at risk of potential 100% tariffs on certain goods if it continues to be among the top five buyers of Russian crude oil and natural gas.
• The Ministry of Mines has launched the eighth tranche of critical mineral auctions, offering 20 blocks to secure India's supply of essential transition metals.
• India's female unemployment rate reached a 15-month high of 5.9% in June, raising concerns over labor market participation despite broader economic growth.

Mint

• The NSE Nifty 50 and BSE Sensex managed to close in the green with marginal gains, ending at 24,074 and 77,175 respectively, despite intraday volatility caused by Middle East tensions.
• HDFC Bank has received RBI approval to appoint Rajiv Kumar as Part-time Chairman for a three-year term, effective immediately.
• Adani Power has signed a 25-year power supply agreement with MSEDCL for 1,600 MW from its upcoming ultra-supercritical thermal power plant.
• PC Jeweller has successfully prepaid and cleared outstanding debt with its fourth consortium bank, continuing its aggressive deleveraging strategy ahead of schedule.
• Amara Raja has commissioned a new 60 MWh commercial-scale pilot plant in Telangana with an investment of ₹500 crore to accelerate its battery manufacturing capabilities.

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