A devastating plane crash in Ahmedabad this week claimed 241 lives in one of civil aviation's worst disasters in recent years.
Overseas, tensions flared in West Asia after Israel bombed Iran's nuclear sites and military assets, killing several top commanders on Friday. US President Donald Trump urged Tehran to accept a nuclear deal to avoid further attacks. Oil spiked as much as 13% before paring gains, while investors rushed to gold and US Treasuries.
Back home, retail inflation cooled to a six-year low, Rapido took aim at Swiggy and Zomato with a flat-fee delivery model, and the government moved to overhaul defence procurement rules while regulators weighed key approvals for Starlink's India launch.
Air India Crash Kills 241 In Ahmedabad
An Air India Dreamliner operating as Flight AI-171 from Ahmedabad to London Gatwick crashed shortly after takeoff on Thursday, killing 241 of the 242 people on board. The aircraft, a 12-year-old Boeing 787-8, was carrying 230 passengers and 12 crew members.
The only survivor is currently undergoing treatment in hospital. The crash site included a medical hostel, where five students were killed and several others injured, officials confirmed. The flight, which departed at 1:38 p.m., had 169 Indian nationals, 53 British, seven Portuguese, one Canadian, and 12 crew members on board.
Retail Inflation Drops To Lowest In Over Six Years
India's consumer inflation cooled further in May, falling to 2.82% — its lowest level in 75 months — driven by sharp declines in food prices. This marks the fourth consecutive month inflation has remained below the Reserve Bank of India's 4% target.
Food and beverage inflation slowed to 1.5%, its lowest in 73 months, with vegetable prices falling 13.7%. Pulses inflation also contracted by 8.2%. However, core inflation, which excludes food and fuel, rose slightly to 4.28% — the highest in 19 months.
Rapido Eyes Food Delivery With Flat-Fee Model
Bike taxi operator Rapido is making a bold entry into food delivery with a direct-to-customer platform that rejects traditional commission-based pricing. NDTV Profit has learned that Rapido will charge restaurants a flat Rs 25 fee per delivery on orders up to Rs 400, and Rs 50 for orders above that — instead of taking a cut of the order value.
Restaurants will also have the option to self-deliver at zero cost. The move comes amid growing industry discontent over Swiggy and Zomato's commission structures, which range from 10% to 28%, plus taxes and gateway charges. Rapido's offering is seen as an attempt to disrupt the existing duopoly by offering restaurants better margins and pricing control.
Defence Projects To Go Through Competitive Bidding
India is shifting from nomination-based awarding of major defence contracts to competitive tendering, Defence Secretary Rajesh Kumar Singh told NDTV Profit in an exclusive interview. The policy change is aimed at levelling the playing field for private sector firms in large-scale defence manufacturing.
Singh said all upcoming contracts — including those for the Advanced Medium Combat Aircraft and standard shipbuilding — will be tendered for fair price discovery. The move is expected to benefit companies like Larsen & Toubro Ltd. and Swan Defence and Heavy Industries Ltd., which have idle shipbuilding capacity. High-end projects like submarines will remain exempt from the new rules for now.
Starlink Launch In India Likely Delayed
Elon Musk's Starlink broadband service may not launch in India as early as expected. Dr CS Pemmasani, Minister of State for Communications, told NDTV Profit that regulatory approvals are still pending, including spectrum validation and Earth station clearance from IN-SPACe.
Pemmasani dismissed reports suggesting Starlink would charge Rs 3,000 a month for broadband and Rs 33,000 for hardware. “It's far too early to comment on pricing,” he said. The Indian government is still developing its regulatory framework for satellite-based internet services, with global players like Starlink, OneWeb and Amazon's Project Kuiper all vying for a slice of the market.
Editors Cut
Stories from us this week that you should read:
Air India Crash To Become India's Most Expensive Aviation Claim With A Potential Rs 2,400-Crore Demand
Ahmedabad Plane Crash: Air India May Face These Court Cases Going Ahead
India's Economic Rise Mirrors China's Growth 35 Years Ago: Jeffrey Gundlach
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