India's automobile sales reached a record high in FY26, with growth registered across every segment, according to the Society of Indian Automobile Manufacturers (SIAM). The rally was driven by a convergence of fiscal and monetary easing: tax cuts, revised income tax slabs that expanded disposable income, and lower interest rates that reduced the cost of vehicle financing. Passenger vehicle sales rose 8% year-on-year, while exports surged 24%, signaling strengthened global demand for Indian-manufactured vehicles. The export jump is particularly notable as it comes against a backdrop of broader geopolitical uncertainty weighing on global trade flows. Industry leaders flagged two headwinds to monitor: geopolitical risks that could disrupt supply chains or export markets, and rising input costs that may compress manufacturer margins if sustained. The domestic demand impulse, however, appears structurally supported by policy tailwinds rather than one-off factors, suggesting the sector's growth trajectory is unlikely to reverse sharply in the near term absent a significant macro shock.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
