Amazon exec to lead BigBasket, Swiggy founders back Skyroot

NSE Indices Limited rolled out 11 new sectoral indices, covering power, capital goods, telecom, construction, retail, healthcare and more, raising its total to 34. The move gives asset managers and ETF providers finer tools to track India's growth themes, deepening passive investment options across the economy.

BigBasket has hired Amazon India veteran Amit Nanda as its first outsider CEO, ending Hari Menon's 15-year tenure. Nanda, who ran Amazon's marketplace seller ecosystem, is expected to accelerate the grocery platform's push into quick‑commerce, a race against Blinkit, Swiggy Instamart and Zepto.

Swiggy co‑founder Sriharsha Majety and former co‑founder Nandan Reddy each poured ₹4.99 crore into Skyroot Aerospace’s pre‑Series C2 round, buying 202 CCPS each at a $1.25 bn post‑money valuation. Their stakes join a roster of deep‑tech backers, underscoring growing confidence in India’s first private space‑launch unicorn.

India added 4.6 GWh of battery storage in Q1 2026, a 941% YoY surge, lifting total capacity to 5.9 GWh. Rajasthan leads with 42% of the stock, signalling storage’s rapid emergence as a backbone of the country’s power grid.

Wholesale price inflation jumped to a series‑high 9.68% in May, spurred by a 61% surge in crude petroleum prices and a 30% rise in fuel‑and‑power costs. The figure, the first under the 2022‑23 base year, signals mounting pressure on downstream prices and could force the RBI to reassess monetary policy.

The inter‑ministerial panel has given in‑principle approval, and the MeitY will formalise the deal this month. The joint venture puts Dixon Technologies at 51% stake and folds Vivo’s Noida plant into a domestic OEM hub, expanding Indian smartphone production and lowering Vivo’s exposure.

India's merchandise exports surged 18% in May to $45.2 billion, led by engineering, petroleum and electronics goods. Imports jumped 20.6% to $73.4 billion, pushing the trade deficit to $28.2 billion, a warning sign for the current‑account outlook despite stronger export resilience.

India’s four biggest retail brokers have secured IFSCA approval to offer US‑equity trading from GIFT City. Zerodha and Upstox will act as broker‑dealers, while Groww and Angel One will use the GAP framework, with roll‑outs expected in the next two to three months. This opens a new, regulated gateway for Indian investors to global markets.

In March‑May 2026 the United States supplied 1.5 million tonnes of LNG to India, eclipsing Qatar’s 0.1 million tonnes and capturing about 26 % of India’s imports. The shift follows the West Asia conflict that crippled Qatar’s Ras Laffan output, forcing Indian buyers to turn to U.S., Omani and African cargoes at higher spot prices.