Toyo Engineering Corporation and MODEC Inc. have inaugurated their new Global Capability Center (GCC), TOYO MODEC OFS India Private Limited (OFS India), in Bengaluru. A joint venture between Toyo India and MODEC Group’s Offshore Frontier Solutions, the center marks a pivotal advancement in the firms’ global growth strategies. Spanning 100,000 sq ft in Indira Nagar, the facility is expected to significantly bolster FPSO (Floating Production Storage and Offloading) engineering capabilities while creating hundreds of high-value jobs.

In a significant portfolio reshuffle, Rekha Jhunjhunwala, acting as executor of the estate of the late Rakesh Jhunjhunwala, has completely divested the family's holding in gaming and esports company Nazara Technologies. The stake, comprising over 44 lakh shares or approximately 5.07% of the company, was sold through open market transactions between June 9 and June 13, 2025. The divestment, valued at approximately Rs. 770 crore, marks a fourfold return on the initial Rs. 180 crore investment made by the late billionaire investor in 2017–18.

Agoda, the Singapore-headquartered travel booking platform, is ramping up its India strategy, positioning the country as a cornerstone for future expansion. CEO Omri Morgenshtern revealed that Indian nationals currently form the second-largest employee base at Agoda, with plans to grow this presence significantly both within the country and abroad.

In the aftermath of the devastating crash of flight AI 171 near Ahmedabad, Air India and its parent company, the Tata Group, have pledged comprehensive support for victims and their families. With 241 lives lost, the airline has committed to providing Rs. 1 crore in compensation to each victim's family and covering medical expenses for survivors. Air India has mobilized over 100 caregivers and 40 technical staff to support rescue and recovery efforts, while establishing assistance centers across major cities.

Garuda Aerospace has inaugurated a landmark Agri-Drone Indigenisation facility in Thalambur, near Chennai, marking a major stride in India’s push for technological self-reliance under the 'Atmanirbhar Bharat' initiative. The 35,000-square-foot unit will manufacture key drone subsystems and components, strengthening the country's domestic UAV production capabilities. The facility’s launch was complemented by the unveiling of 300 Centres of Excellence across India and a nationwide Train-the-Trainer program aimed at nurturing drone expertise.

India’s labor market demonstrated a robust recovery in May 2025, recording an 8.9% month-on-month surge in job postings, ending an eight-month streak of declines. Although job listings dipped 1.8% year-on-year, India’s employment activity remains nearly 80% above pre-pandemic levels—far outperforming several advanced economies. This momentum is largely driven by the country’s ongoing shift toward formal economic structures and rising demand in sectors like childcare, education, and manufacturing. The rise of generative AI is also leaving its mark, particularly in Karnataka and Telangana.

In a significant development poised to reshape Mumbai's energy landscape, the Maharashtra State Electricity Distribution Company Ltd (MSEDCL), also known as Mahavitaran, has formally petitioned the Maharashtra Electricity Regulatory Commission (MERC) for a parallel licence to distribute electricity in Mumbai. The move would place the state-run utility in direct competition with existing private and civic distributors, including Adani Electricity, Tata Power, and BEST.

India’s foreign exchange reserves saw a strong rebound for the week ending June 6, 2025, rising by USD 5.17 billion to reach USD 696.65 billion, according to data released by the Reserve Bank of India (RBI). This recovery follows a USD 1.24 billion decline the previous week. The increase was led by gains in foreign currency assets, gold reserves, and Special Drawing Rights (SDRs).

Karnataka Chief Minister Siddaramaiah has made a strong pitch to the 16th Finance Commission for a higher share of central tax revenues, citing a significant decline in the state's allocation under the current distribution formula. During a meeting with Commission Chairman Arvind Panagariya, Siddaramaiah submitted a detailed memorandum advocating for Karnataka’s fiscal interests for the 2026–31 period. Key demands include a reassessment of the divisible pool and the inclusion of cess and surcharge collections exceeding 5% under it.

Lava International, a prominent homegrown smartphone brand, has unveiled two new devices in its Storm series—Storm Play and Storm Lite—targeted at budget-conscious consumers in India. With an emphasis on value-for-money features, both smartphones boast impressive specifications for their price points. From large displays and powerful processors to long-lasting batteries, Lava is positioning these models as strong contenders in the fiercely competitive entry-level smartphone market. With a starting price of Rs.