THE WEEK THAT CHANGED THE OUTLOOK (June 29–July 5)

Fuel: India lifted temporary petrol and diesel sales restrictions from 1 July after West Asia tensions eased, signalling stronger domestic fuel supply confidence.

Growth: India’s private-sector growth (PMI) moderated in June as manufacturing slowed and services hit a 17-month low, reflecting softer demand across major sectors.

Revenue: GST collections rose 14% to ₹1.95 lakh crore in June, supported by stronger tax collections from imports and domestic supplies.

Settlement: Bank of Baroda agreed to pay $600 million to settle NMC litigation, ending a major cross-border legal dispute.

Technology: HCLTech secured a $1.14 billion European technology contract, lifting shares sharply and boosting sentiment across IT counters.

Banking: Kotak Mahindra Bank agreed to acquire Deutsche Bank’s India retail business, strengthening wealth and consumer banking operations.

Ports: Adani Ports will sell a 49% stake in Vizhinjam port to MSC for $1.4 billion, boosting foreign investment.

Currency:  The rupee weakened nearly 1% during the week as importer demand and capital outflows outweighed support from lower crude prices.

Trade:  India plans to challenge proposed US labour tariffs, warning additional duties could hurt exporters, manufacturers and bilateral trade negotiations.

Projects: Prime Minister Narendra Modi inaugurated projects worth ₹1.06 lakh crore in Rajasthan, including a refinery and petrochemical complex.

Japan: Modi said India targets 10 trillion yen in Japanese investment over ten years while doubling Japanese companies operating domestically.

Industry: India’s industrial output grew 5.1% in May, driven by stronger manufacturing and electricity generation, signalling resilient economic momentum.

Monsoon: The southwest monsoon strengthened across key regions, reducing rainfall deficits and improving expectations for agriculture, rural demand and inflation.

America: US President Trump said India is growing at 7–8%, signalling a more constructive tone towards future trade engagement.

Economy: India is projected to become a $7 trillion economy by 2030, said India’s Ambassador to the United States, Vinay Mohan Kwatra, highlighting the country’s strong long-term growth momentum.