Daily Current Affairs – June 2, 2026

India-US trade deal: New Delhi and Washington are resuming trade talks this week. Negotiators will work to finalize a bilateral trade agreement. India aims to secure relief from any tariffs arising from US trade investigations. The two nations are seeking a deal that benefits both countries. New Delhi denies allegations and prefers resolving issues through ongoing negotiations.

The India-Oman Comprehensive Economic Partnership Agreement is now active. Indian exporters of textiles, leather, plastics, and more will gain preferential market access in Oman. The pact also ensures Indian workers receive preferential treatment in Omani projects led by Indian companies. Oman is also lifting its ban on exporting unpolished marble blocks.

If India needs Google’s hyperscale hub, it is not yet ready for the facility

The Gulf will continue to matter for India, but the old certainty of the “Gulf dream” has been shaken

Operation Checkmate is aimed at enhancing public safety through enforcement of immigration statutes to detect and arrest illegal persons operating commercial motor vehicles

Indian markets are navigating slow earnings growth and valuation worries. However, experts see early signs of a cyclical recovery. Despite current challenges, a shift in global capital flows and domestic growth drivers could lead to modest returns. Investors are looking towards sectors like energy security and defence for future opportunities as the AI trade potentially fades.

Coca-Cola is planning a major move in India. The beverage giant is preparing to list its Indian bottling unit, Hindustan Coca-Cola Holdings, on Indian stock exchanges by 2027. This move signals strong confidence in India's growth potential. Coca-Cola will retain a significant stake and continue to focus on its brand portfolio in the country.

Amazon Music India is implementing a three-tier subscription model to attract more users, including a free service with ads, an upgraded Prime experience, and a premium unlimited plan. This change reflects the growing demand for diverse music services amid increasing smartphone penetration.

India is set to overhaul its decade-old testing fees at government drug laboratories, raising charges two to four times in many cases to reflect modern testing costs. For instance, toxicity testing in mice will now cost ₹25,000, up from ₹800, with fees set to rise 5% annually.