India in June 2026: the most important developments in economy
India's economy in June 2026 was defined by turbulence in the stock market and a wave of large share sales. On June 19 Indian IT stocks fell to a three-year low after Accenture issued a weak outlook, pulling the Nifty IT index sharply lower. The same day Reliance Jio Platforms announced plans for a $4 billion IPO, which would be the largest share sale in India's history. Earlier in the month South Korea overtook India as the world's sixth-largest stock market, and foreign investment in Indian equities was at a decade low.
The Iran war and the oil price shock weighed on public finances and the rupee for much of the month. The government tightened checks on overseas capital flows, and on June 5 it scrapped capital gains tax for foreign investors in government bonds, while the central bank held its repo rate at 5.25%. A report projected India would miss its budget deficit target, and on June 18 fuel prices were raised by 10%. Economic growth of 7.7% in the latest quarter was announced on June 6. A US-Iran peace deal lifted Indian shares and the rupee on June 15, and the first Indian LNG carrier crossed the Strait of Hormuz. India's Russian oil imports were set to reach a record in June. The US secretary of state warned India that violations of the US blockade on Iran would not be tolerated.
On trade, the US named India in its Section 301 findings and proposed additional tariffs. Later President Trump called a trade deal 'very close', while Commerce Minister Piyush Goyal said there would be no deal without a comparative tariff advantage framework. The India-UK trade deal takes effect on July 15.
Technology investment was the other major theme. Amazon announced an additional $13 billion investment in India by 2030 in cloud and AI, AirTrunk committed $30 billion to AI data centers, and Meta and Reliance agreed to build a data center. Meta named CRED founder Kunal Shah as WhatsApp's chief executive and invested $900 million in CRED.
by WorldBrief & Maksim Micheliov | AI-generated summary
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