To limit the impact of these external shocks, the government has stepped up measures aimed at reducing foreign exchange outflows and stabilising the economy. These steps include increases in fuel prices and a sharp rise in import duties on precious metals.
While many tech firms scale back, Nvidia is aggressively hiring foreign talent via the H-1B visa program, increasing its certified positions. This surge reflects the company’s immense demand for AI specialists and engineers, contrasting with competitors like Google and Amazon. CEO Jensen Huang emphasizes immigration’s vital role in US technological leadership.
Stock market recommendations: Infosys has been recommended as a top buy call by Somil Mehta, Head of Retail Research at Mirae Asset ShareKhan on June 2, 2026. The expert has recommended DLF, and Cholamandalam Investment and Finance Company as sell calls. Target prices, stop loss and ranges have been shared.
India and Oman have launched a free trade agreement, enabling concessional or zero tariffs on a vast majority of goods. Oman also offered a food security pact, willing to supply more fertilizer and petrochemicals to India. The agreement includes visa benefits for Indian workers and faster pharmaceutical approvals.
Digital payments are booming as UPI transactions hit 2,320 crore in May, a significant jump from April. This surge reflects a robust 24% year-on-year volume growth. Meanwhile, National Electronic Toll Collection also saw a healthy month-on-month increase in both transaction numbers and value, indicating continued digital adoption across various payment platforms.
GST collections in May saw a modest 3.2% rise to Rs 1.94 lakh crore. While domestic revenue dipped, officials attribute this to a one-off telecom payment in the previous year, asserting underlying consumption remains robust across sectors. Import GST also surged, driven by increased demand for commodities and electronics.
Nandan Nilekani is poised for a third term as Infosys chairman. His focus will be on succession planning, with rules requiring his exit at 75. The company is strengthening its leadership bench. Nilekani also faces the challenge of preparing Infosys for the evolving AI-driven technology landscape. This ensures stability and future growth for the IT
