Steel companies are taking a battering this year as a crisis in the country’s shadow banking sector fueled a cash crunch, and economic growth slowed to a five-year low.
Insolvency judges’ ruling that Essar creditors whose claims are backed by collateral won’t get preferential treatment can badly damage India’s debt market.
Banks are opposed to certain terms of the Essar Steel sale, which, they say, could lead to higher lending rates, further affecting India's credit woes.
Bihar will evolve and eventually prosper. But the nature of the country’s political economy means that the journey for Bihar, and India, is slower than some would like.
While global corporations setting up GCCs in India continue to express confidence in availability of skilled AI engineers, the panel argued that India’s real challenge lies elsewhere.
Without a Congress revival, there can be no challenge to the BJP pan-nationally. Modi’s party is growing, and almost entirely at the cost of the Congress.
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