_Markets open Monday — Iran deal developments over the weekend may set the tone_
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📊 *ECONOMY & POLICY*
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📉 *May CPI at 16-Month High of 3.93%*
Retail inflation rose to 3.93% in May — driven by tomatoes, rice, and fuel-linked transport costs — with food inflation at 4.78% and rural inflation outpacing urban at 4.25% vs 3.53%.
The MPC’s rate-cut trajectory is under increasing pressure; the RBI has already revised its FY27 inflation projection upward to 5.1%, and a deficient monsoon could push it higher still.
📎 _Read: BusinessLine_
📈 *World Bank Lifts India FY27 Growth to 6.6%, FY28 to 7.2%*
The World Bank upgraded India’s FY27 GDP forecast by 10 bps to 6.6% and sharply revised FY28 to 7.2% (+60 bps), citing resilient domestic demand — even as it cut its global growth estimate to 2.5% on West Asia crisis risks.
India’s growth outperformance versus the global backdrop strengthens the case for FII re-entry, especially as the bond market is simultaneously being opened wider to foreign capital.
📎 _Read: Business Standard_
🏦 *Govt Zeroes Out Capital Gains & Withholding Tax on FPI G-Sec Investments*
The government has eliminated both capital gains tax and withholding tax on interest income for FPIs investing in government securities under the Fully Accessible Route, with the RBI simultaneously expanding FAR to include all new 15, 30, and 40-year G-Secs.
FPI holdings under FAR have already risen ₹8,795 crore to ₹3.32 trillion since the announcement — a structural move to anchor the rupee, compress long-end yields, and accelerate India’s Bloomberg Global Aggregate Index inclusion bid.
📎 _Read: Business Standard_
🌧️ *El Niño Likely to Strengthen Through India’s June–Sept Monsoon: IMD*
The IMD warned that moderate-to-strong El Niño conditions are expected to intensify during the June-September monsoon season as sea surface temperatures continue warming — potentially the weakest rainfall in 11 years.
A deficient monsoon would push food inflation well above the RBI’s revised projections, soften rural FMCG and agri-input demand, and raise irrigation costs for power utilities and fuel distributors.
📎 _Read: The Telegraph_
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🏢 *COMPANIES*
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💻 *India Mobile Data Costs Down 97% Since 2014; Users Cross 105 Crore*
1 GB of mobile data now costs ₹7.87 versus ₹270+ in 2014 — a 97% collapse in price — as broadband subscriptions approach 100 crore and internet users cross 105 crore.
This structural democratisation of connectivity underpins the addressable market for fintech, quick commerce, edtech, and digital media players building for the next 500 million users.
📎 _Read: Mint_
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🌍 *GLOBAL & WORLD*
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🤝 *US-Iran Deal “Never Been Closer” — Pakistan PM Confirms Text Finalised*
Pakistan PM Shehbaz Sharif confirmed a final draft text for a US-Iran agreement has been reached, with Pakistan acting as facilitator; Iran’s FM Araghchi described the deal as closer than ever.
A successful agreement would reopen the Strait of Hormuz to normal shipping flows — a sharp crude price drop would follow, delivering significant CAD, fiscal, and rupee relief for India.
📎 _Read: NDTV Profit_
⚡ *Brent Crude Drops ~2% to $88.79 on Iran Peace Hopes*
Brent crude fell nearly 2% at the open to $88.79 a barrel — a two-month low — on rising confidence that a US-Iran deal will restore normal tanker flows through Hormuz.
For India, every $10/barrel decline in crude reduces the annual import bill by roughly $15 billion; if sustained, a move to $80-range Brent would materially ease the CAD, compress ATF costs, and revive OMC margins.
📎 _Read: NDTV Profit_
🚀 *SpaceX IPO Closes +19% Past $2 Trillion; Musk Briefly a Trillionaire*
SpaceX’s Nasdaq debut ended 19% above its $135 IPO price, pushing the company beyond $2 trillion in market cap and closing the largest IPO in history at $75 billion; Elon Musk briefly crossed $1 trillion in personal net worth.
The listing sets a new benchmark for private-to-public transitions globally and reinforces risk appetite for deep-tech and space ventures — Indian space and satellite companies in the PLI pipeline may see a valuation tailwind.
📎 _Read: Economic Times_
🔥 *US Military Moved 7 mn Barrels/Day Through Hormuz During Deadlock*
The US Energy Secretary revealed that American military forces escorted tankers carrying 7 million barrels of oil per day through the Strait of Hormuz while civilian shipping was disrupted — part of the 100 million barrel covert operation disclosed by Trump earlier this week.
This military oil-corridor capability redefines energy security strategy for India, which sources nearly 90% of its crude through Gulf shipping lanes and has been among the most exposed economies to the Hormuz disruption.
📎 _Read: NDTV Profit_
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_Compiled by Daily Business Briefs · 13 Jun 2026_