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Disruption: Startups & TechEye on AIET PanacheSports World PlayAround the World
Disruption: Startups & TechEye on AIET PanacheSports World PlayAround the World
Disruption: Startups & TechEye on AIET PanacheSports World PlayAround the World

1Front Page

It’s been a long time coming —41 years, to be precise. On April 3, 1984, Wing Commander Rakesh Sharma became the first Indian in space. He flew aboard the erstwhile Soviet Union’s Soyuz spacecraft to Salyut-7 space station and spent nearly eight days orbiting the planet.

Samvardhana Motherson is bracing for battle with US distressed debt hedge fund Strategic Value Partners (SVP) over the acquisition of Marelli Holdings, a Japanese car parts supplier owned by private equity group KKR & Co, said people aware of the matter. T

The Department of Telecommunications (DoT) has written to the state governments to consider using the telecom services of state-run operators Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL), citing data security needs.
The Reserve Bank of India’s deepest interest rate cut in five years is expected to boost the performance of non-banking finance companies (NBFCs), as their margins will expand with a fall in funding cost and a slower repricing of their loans compared with banks, say analysts.
India is in talks with China on ensuring the supply of permanent magnets derived from rare earth minerals but is also working on “alternate sources” for the critical components, commerce and industry minister Piyush Goyal said.
Car buyers in India are increasingly opting for compressed natural gas (CNG)-powered vehicles amid high fuel prices and increased choices in a sluggish market.

2Pure Politics

In a major setback for security forces, an additional superintendent of police was killed and two police officers injured in an improvised explosive device blast in Chhattisgarh’s Sukma district. The IED was planted by Maoists near Dondra village on Konta-Errabor road.

Lieutenant General Rajiv Ghai, whom the Pakistan’s Director General of Military Operations (DGMO) had called while India was pummeling Pakistani airbases during Operation Sindoor, pleading for a ceasefire, was on Monday appointed as the deputy chief of Army Staff (strategy).

With fresh protests erupting in Manipur and prohibitory orders being clamped in five districts of the Valley, former chief minister N Biren Singh and BJP Rajya Sabha MP Leishemba Sanajaoba left for New Delhi on Monday to brief central leaders on the escalating situation.
Five Left parties wrote a letter to Prime Minister Narendra Modi on Monday, demanding immediate halt to anti-Maoist operations in Chhattisgarh and other areas.
The Calcutta High Court on Monday directed the West Bengal government not to pay monthly allowance to the Group-C and Group-D categories of employees, who lost their jobs following a Supreme Court verdict in April, along with the SSC teachers.
Improvised Explosive Devices (IEDs) are among the biggest threats for security personnel deployed in Left Wing Extremist (LWE) areas, said officials after an additional SP was killed and two other policemen were injured on Monday.
Jammu and Kashmir Police have mounted facial recognition systems (FRS) along the Pahalgam route of Amarnath Yatra to fend off against any terror attacks against the pilgrims, an official said here on Monday.
Congress leaders are hopeful of a new beginning in the Rajasthan party unit after AICC general secretary Sachin Pilot broke ice with his celebrated in-house opponent, Ashok Gehlot.
Sonam Raghuvanshi, the woman suspected to be involved in the murder of her husband, has surrendered to the police. She is likely to be brought to Meghalaya for questioning. Sonam was taken into custody from Ghazipur district in Uttar Pradesh.
Chief minister Himanta Biswa Sarma informed the Assam assembly on Monday that over 330 illegal infiltrators were pushed back in the past few months, and that this operation would be expedited in the coming days.
Doctors from the Goa Medical College and Hospital (GMCH) on Monday halted their protest for a day against state health minister Vishwajit Rane and set a 24-hour deadline for him to personally apologise to the senior doctor whose suspension he ordered in public view.
Chief Election Commissioner (CEC) Gyanesh Kumar will deliver a keynote address at the International IDEA Stockholm Conference on Electoral Integrity tomorrow, according to an official statement.
Congress leader Rahul Gandhi has welcomed the Election Commission’s decision for sharing with the Congress the electoral roll data of the Haryana and Maharashtra elections from 2009 to 2024 and he wanted to know when it would be done.
The Supreme Court Monday granted interim protection from coercive action for two weeks to two Madhya Pradesh-based journalists who alleged custodial violence and threat to their lives from the state police.
BJP president JP Nadda said Prime Minister Narendra Modi-led government has transformed the politics of appeasement to a politics of performance and slammed Congress leader Rahul Gandhi as an “irresponsible” Opposition leader who raises “baseless” questions.
Himachal Pradesh will open areas near India-China border, including strategically important Shipki La pass, for tourists.
Kolkata Police on Monday arrested Wazahat Khan, whose complaint had led to the arrest of 22-year-old social media influencer Sharmistha Panoli for ‘hurting’ religious sentiment, from ‘Amherst Street area where he was hiding in a flat’.
Laden with an ever-increasing external debt that has reached $87.4 billion, Pakistan is spending over 1.9% of its gross domestic product (GDP) in debt service payments, with the biggest single lender being China, the latest economic survey released by the Shehbaz Sharif government says.
The monsoon session of the West Bengal assembly began on Monday, with obituary references made by Speaker Biman Bandopadhyay to those who lost their lives in the Pahalgam terror attack.
Karnataka’s IT/BT minister Priyank Kharge on Monday urged the Election Commission to facilitate a court-monitored ethical hackathon and a rigorous technical audit of electronic voting machines (EVMs), offering the help of the state’s robust tech ecosystem as he joined Congress leader Rahul Gandhi’s campaign for disclosure of poll-related data of recent elections.
India will not engage with Pakistan on the Indus Waters Treaty (IWT) till New Delhi’s concerns regarding terrorism are addressed and the pact is completely revamped, sources said.
The Karnataka High Court has posted for hearing on June 12 petitions filed by Royal Challengers Sports Limited—franchise owner of RCB—and event manager DNA Entertainment Network, seeking quashing of the FIR registered against their executives in connection with the June 4 stampede outside Bengaluru’s Chinnaswamy Stadium that left 11 dead and scores injured.
The Chief Electoral Officer (CEO) of West Bengal has directed the District Electoral Officer (DEO) and district magistrate of South 24 Parganas district to enquire and report on a person who is reportedly listed as a voter in South 24 Parganas district’s Kakdwip but at the same time was allegedly involved in Bangladesh’s students’ movement last August.
Delhi court on Monday said the missing inquiry file on the security aspect of jailed AgustaWestland case accused Christian Michel James was a matter of "serious concern" as it directed the Tihar authorities to locate it.

3Brands & Companies

Glenmark Pharmaceuticals on Monday said it will launch cancer treatment drug zanubrutinib in India following approval by the Drugs Controller General of India.

Mihir Rale, former General Counsel at Disney and Star India, has joined Cyril Amarchand Mangaldas (CAM) as partner and co-head of its digital+ practice, alongside Arun Prabhu.

KV Pradeep, chairman and managing director of Olectra Greentech, has tendered his resignation from the board and his executive role, the company informed stock exchanges on Monday.
India’s drug regulatory authority has joined hands with the Department of Animal Husbandry and Dairying (DAHD) and the Ministry of Fisheries to address the growing concern of antimicrobial resistance in the country.
​This beauty and personal care startup has seen a slew of top-level exits over the last few months, and rumours suggest that a key reason is the co-founder’s leadership style.
Fashion retailer Shein and partner Reliance Retail plan to rapidly expand their Indian supplier base and start international sales of India-made Shein-branded clothes within six to 12 months, said two people with knowledge of the matter.
India’s market for single-speciality hospitals is set to more than double to $31 billion in three-four years from the current $15 billion, amid their private equity-led expansion into small towns and hinterlands where demand for quality healthcare services is growing rapidly, according to a report.
Corporate India’s hiring intentions for the quarter to September are the second highest among 42 countries covered in the latest ManpowerGroup Employment Outlook Survey, a finding that – despite a slight moderation since last quarter — experts attributed to the underlying growth momentum in the country amid global geopolitical and economic upheavals.
Warner Bros. Discovery will split into two public companies by next year, calving off its cable operations from its streaming service.
US-based private equity fund Advent International will invest $175 million for a “significant” minority stake in Dublin-headquartered Felix Pharmaceuticals, a maker of generic veterinary drugs, according to a company statement.
Leading diagnostic chains are looking to scale up their operations amid surging Covid-19 cases in the country. Executives said they were seeing a “noticeable” spike in the testing, particularly RT-PCR and rapid antigen tests. However, there is little consensus on taking booster shots.
Brazilian planemaker Embraer is looking to increase production rate of its commercial planes to 120 a year from 73 now, as airlines call for competition to end the Boeing-Airbus duopoly.

4Companies: Pursuit of Profit

Frederick Forsyth, the British author of “The Day of the Jackal" and other bestselling thrillers, has died after a brief illness, his literary agent said Monday. He was 86.

Launching a fresh attack on HDFC Bank MD and CEO Sashidhar Jagdishan, Lilavati Kirtilal Mehta Medical Trust (LKMM Trust) on Monday said the trust or its permanent trustee Prashant Kishor Mehta has no outstanding dues to the private bank.

Frank Eckard, CEO of a German magnet maker, has been fielding a flood of calls in recent weeks. Exasperated automakers and parts suppliers have been desperate to find alternative sources of magnets, which are in short supply due to Chinese export curbs.
The Mumbai bench of National Company Law Tribunal (NCLT) has allowed a 90-day extension in the ongoing consolidated corporate insolvency resolution process (CIRP) of Lavasa Corp beginning May 29.
Tata Motors has earmarked an investment of ₹33,000–35,000 crore in its passenger vehicle (PV) business, including the electric vehicle arm, over the next five years, the company said in an investor presentation on Monday.
India’s cable television industry has undergone a significant contraction over the past seven years, with an estimated 577,000 cumulative job losses between 2018 and 2025, driven largely by a sharp decline in pay-TV subscribers, according to a report released on Monday.

5The Edit Page

I remember that Grandmother and Uncle Carl were both critical of our summer house, though for different reasons. Uncle Carl was regarded as somewhat unhinged, but he knew best about all sorts of things and declared it wasn’t a house, definitely wasn’t a villa and wasn’t in any respect whatsoever a dwelling.

If all things go space-shipshape, Shubhanshu Shukla will script history later this week as the second Indian to go to space. 41 years after Rakesh Sharma’s 1984 mission as part of the Soviet Interkosmos programme, Shukla’s Axiom Mission-4 journey to International Space Station (ISS) has reignited public interest in science and space.

Pakistan lost the last bout with India, but gained a field marshal, a renewed presence in Washington, and the possibility of getting Donald Trump in its corner.
To overthrow colonisers, people of the subjugated country or territory either go to war to beat back the invader, or start a freedom movement if the takeover is more subtle and is spread over decades.
On the tarmac, India looks unstoppable. Delhi’s fourth runway and twin elevated taxiways are designed to raise the Capital’s throughput to a staggering 109 mn passengers a year — higher than the tally of Atlanta, the world’s busiest airport.
Donald Trump’s efforts to set right the US’ trade balance with the rest of the world will impact global capital flows. Here’s how it works now: the US runs up trade deficits with emerging markets (EMs), which then park their export surpluses in US equity and debt.
If there’s one myth about India that refuses to go away, it’s the one about us being a nation of leaf-eaters. The truth is far juicier. Multiple surveys show that over 70% of Indians enjoy their succulent mutton tikkas and artery-clogging fish orlys.

6Economy: Macro, Micro & More

India’s trade agreement with the European Free Trade Association (EFTA) comprising Switzerland, Norway, Iceland and Liechtenstein will come into effect in September, commerce and industry minister Piyush Goyal said on Monday.

​The Board of Approval for special economic zones has approved the proposals of Micron Semiconductor Technology India Pvt Ltd (MSTI) and Hubballi Durable Goods Cluster Private Ltd (Aequs Group) to set up such zones for manufacturing of semiconductors and electronic components, the government said.

Four commuters died and nine were injured during the rush hour here on Monday morning after falling off a crowded local train as another local train coming from the opposite side ‘brushed past’ them following which they lost balance and fell.
Around 27 lakh employees of public sector power working in the electricity sector will observe a one-day token strike to protest against the proposed privatisation of the Uttar Pradesh power distribution companies.
The Niti Aayog is likely to suggest a major revamp of the All-India Institute of Medical Sciences (AIIMS), Delhi, including a significant expansion to enable it to offer clinical services at multiple locations in the National Capital Region.
The government plans to revamp the electricity index in the Consumer Price Index (CPI) to capture slab-wise power consumption in the country, people familiar with the development told ET.
​The Central Board of Indirect Taxes and Customs (CBIC) Monday clarified that quoting a document identification number (DIN) is not required for communications generated through the common portal of GST, including show-cause tax notices, if they already bear a reference number (RFN).
The Indian Railways will redesign its non-AC trains after four commuters died by falling on tracks from crowded Mumbai’s suburban train Monday. The new trains will have automatically closing doors and improved ventilation.
Finance minister Nirmala Sitharaman Monday called on the National Investment and Infrastructure Fund (NIIF) to adopt a proactive approach to fund-raising and explore diversified sources of financing.
The National Highways Authority of India (NHAI) will soon set up a public infrastructure investment trust (InvIT), according to its asset monetisation strategy report released on Monday.
The Centre has tweaked the norms governing award of power transmission projects spanning across states by adding additional options for payment security.
​India has rolled out 210 commemorative coins since Independence, half of which have been introduced in the past decade alone, finance minister Nirmala Sitharaman said, underscoring the growing popularity of the sovereign souvenir coins.

7ET Markets

About 20.23 crore shares of Wipro, amounting to a 1.93% stake, were exchanged among promoter group entities through open market transactions on Monday, according to exchange data.

Chennai-based Jewellery player Lalithaa Jewellery Mart filed its draft red herring prospectus (DRHP) with Sebi to raise funds through an IPO. The IPO consists of a fresh issue of Rs 1,200 crore and an offer for sale of Rs 500 crore by promoter Kiran Kumar Jain.

Promoters Vinod Ranchhodbhai Tanti, Rambhaben Ukabhai Tanti and Tanti Holdings Private Limited, along with Tanti Ranchhodbhai Ramjibhai, sold shares of Suzlon Energy worth Rs 1,308.9 crore in block deals on BSE on Monday.
The Bank Nifty index, comprising 12 of India’s top lenders, extended its record-breaking run to the second straight day on Monday, riding on a bullish momentum fuelled by the Reserve Bank of India’s bigger-than-expected interest cut and a surprise liquidity easing move last week.
The Reserve Bank of India on Monday said it will discontinue the daily variable rate repo (VRR) auctions — a window that allows banks to borrow from the central bank daily — from June 11, considering surplus liquidity in the banking system.
Retail investors on the lookout for higher returns from their fixed-income portfolios are turning towards high-yielding corporate bonds.
Gold prices edged higher on Monday, supported by a weaker US dollar, as market participants kept a close eye on the ongoing US-China trade talks. Spot gold rose 0.8% to $3,335.02 an ounce, as of 1350 ET (1750 GMT), after dropping to a more than one-week low earlier in the session.
Silver may be on the cusp of a record-breaking rally after having topped the $36 per ounce mark in international markets for the first time in 13 years late last week.

8Smart Investing

Markets regulator Sebi on Monday introduced a settlement scheme, commencing on June 16, for all stock brokers associated with certain algo platforms.

Jana Small Finance Bank has submitted its application to the RBI on Monday seeking approval for voluntary transition from a small finance bank to a universal bank.

Reserve Bank of India said that contribution made by banks to funds with National Housing Bank (NHB), Small and Industrial Development Bank of India (SIDBI), Micro Units Development & Refinance Agency (MUDRA) will also be excluded while calculating exposure limits under the central bank’s large exposure framework.
The Reserve Bank of India on Monday removed the restrictions placed on the use of ratings of Brickwork Ratings India (BRIPL) by banks for assigning risk weighting to loans while calculating capital adequacy ratio.
The Reserve Bank of India (RBI) has once again flagged concerns over mis-selling of financial products such as insurance, and said it is considering framing guidelines to address the issue.
The ET Fertiliser and ET Chemical indices have each gained nearly 19% over the past three months, buoyed by recovery in the broader market. However, retaining these gains will be challenging given the input cost inflation and slow export demand amid tariff-related measures.
The life insurance industry recorded a nearly 13% year-on-year increase in new business premiums in May 2025 to ₹30,463 crore, according to data released by the Life Insurance Council.
For the first time since 2011, public sector banks (PSBs) have surpassed private banks (PVBs) in loan growth. At the end of FY25, PSBs outpaced PVBs by 4 percentage points, with PSBs recording a 13.1% year-on-year loan growth compared to 9% for PVBs.

9Disruption: Startups & Tech

China’s most popular AI chatbots like Alibaba’s Qwen have temporarily disabled functions including picture recognition, to prevent students from cheating during the country’s annual “gaokao” college entrance examinations.

U.S. chipmaker Qualcomm agreed to acquire Alphawave for about $2.4 billion on Monday, as it expands into the booming AI data center market, sending shares of the British semiconductor company surging more than 22%.

Japanese chipmaker Renesas has said that the situation involving Wolfspeed will have “no impact” on its OSAT project in India.
The software-as-a-service (SaaS) industry is increasingly looking at diversifying outside North America, not just because of tariff-related uncertainties and a slowdown in developed markets, but also due to opportunities emerging from digitisation in developing regions which are typically underserved by large technology firms, a senior Zoho Corp executive said.
Getty Images is facing off against artificial intelligence company Stability AI in a London courtroom for the first major copyright trial of the generative AI industry.
Micro-drama OTT platform Flick TV has raised $2.3 million in seed funding led by Stellaris Venture Partners, as it looks to tap into the growing demand for short-form, mobile-first video content in India.
Mysuru-based Kaynes Semicon and Bengaluru-based L&T Semiconductor Technologies (LTSCT) are acquiring Japanese Fujitsu General’s power modules business for ₹118.34 crore.
US quantum computing company IonQ has agreed to buy UK startup Oxford Ionics in a $1.08 billion deal that highlights increasing commercial confidence in what has largely been an experimental field of computing.
Deeptech startup Vecmocon Technologies has raised $18 million in a funding round led by Ecosystem Integrity Fund (EIF), with Blume Ventures and Aavishkaar Capital participating.
Fintech major Cred has raised ₹617 crore (about $72 million) from investors at a valuation of $3.5 billion, according to filings seen by ET.
Nexus Venture Partners will invest ₹125 crore (around $15 million) in Rapido as part of a larger financing round last year that valued it at $1.1 billion, the urban mobility platform said in a filing with the Registrar of Companies (RoC).
Maharashtra’s Food and Drug Administration (FDA) has suspended the food licence of quick commerce platform Blinkit in Pune’s Balewadi area for not complying with regulations.

10Eye on AI

A British high court has informed its lawyers to prevent the misuse of AI following the submission of dozens of fake case-law citations that were either entirely made up or contained false passages.

A new AI tool, CANYA, is found to have made progress In decoding the biochemical ‘language’ that is capable of finding out whether proteins form structures that are associated with genetic diseases such as Alzheimers.

​Apple has published a study that shows that advanced AI models including Claude, OpenAI, DeepSeek R1 and Google’s Thinking models still struggle with complex problem solving scenarios.
As neocloud firms begin to challenge hyperscalers’ dominance, Indian data centres seek to benefit from this shift in cloud business, finds Himanshi Lohchab.
Mary Meeker, called the ‘Queen of the Internet’, published her first trends report in five years, focused on AI. The report, published last week, used the word ‘unprecedented’ 64 times.
BARIS GULTEKIN, Head of AI at Snowflake, tells Swathi Moorthy and Surabhi Agarwal that enterprises are doubling down on AI as returns outweigh costs

11ET Panache

New visitor policies, site restorations and controlling hawkers are some of the major changes at the Giza Plateau

Shraddha Kapoor stands out not just for her talent and charm on screen, but also for her grounded perspective off it.

It’s nearly impossible to walk inside an Hermès store and come home with a new Birkin bag. But if you wanted to get your hands on the original — the prototype made in 1984 for French actress Jane Birkin — it is going up for auction at Sotheby’s on July 10.

12Sports World Play

Witnessing tennis history — and the longest French Open final of all time — was both a privilege and the ultimate test of bladder endurance.

Cristiano Ronaldo hoisted up the Nations League trophy and "We Are The Champions" rang around the stadium after Portugal defeated Spain 5-3 in a penalty shootout in Munich on Sunday.

The Oklahoma City Thunder, fuelled by an efficient 34 points from Shai Gilgeous Alexander, thumped the Indiana Pacers 123-107 on Sunday, punching back hard to level the NBA Finals at one game apiece.
Former India captain MS Dhoni was on Monday inducted into the ICC's Hall of Fame for the year 2025 along with Australian great Matthew Hayden and South Africa's Hashim Amla.
A wasteful Indian men's hockey yet again conceded a late goal to lose 2-3 against the Olympic champions Netherlands, enduring their second consecutive defeat in the European leg of the FIH Pro League here on Monday.
Seeking its first win in the tournament, the Indian football team will face another acid test when it takes on Hong Kong in a crucial AFC Asian Cup 2027 round three qualifier match here on Tuesday.

13Around the World

Talks between the US and China kicked off in London on Monday, with the US signaling a willingness to remove restrictions on exports in exchange for assurances that China is easing limits on rare earth shipments.

Israeli forces seized a Gaza-bound aid boat and detained Greta Thunberg and other activists who were on board early Monday, enforcing a longstanding blockade of the Palestinian territory that has been tightened during the Israel-Hamas war.

Chinese exports rose less than expected last month as the worst drop in shipments to the US in more than five years counteracted strong demand from other markets.
Apple said on Monday it will open up the underlying technology it uses for Apple Intelligence and announced an overhaul of its operating systems.
California Gov. Gavin Newsom said he planned to file a lawsuit Monday against President Donald Trump in response to the administration's extraordinary deployment of the National Guard to confront immigration protesters who took to the streets in Los Angeles.
Russia launched almost 500 drones at Ukraine in the biggest overnight drone bombardment of the three-year war, the Ukrainian air force said Monday, as the Kremlin presses its summer offensive amid direct peace talks that have yet to deliver progress.
Tensions flared in Los Angeles on the third day of anti-deportation protests, as demonstrators clashed with law enforcement while President Donald Trump and California Governor Gavin Newsom exchanged blame over the unrest and responsibility for restoring order as the President ordered the sending of the National Guard to LA.
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