trade, export, import

There are critical shortcomings in India's export policy that need to be tackled to expand its share of goods trade. Here are three suggestions that merit consideration

Quest for value chains and exports

Business Standard

ILLUSTRATION: Binay Sinha

Markets and democracy are not necessarily compatible, and the inherent tensions are becoming more apparent than ever

Democratic capitalism in peril?

Illustration: Binay Sinha

The responsible revenue and expenditure projections are to be lauded, but efforts on trade and fiscal targets fall short

Growth, Budget and macro balances

Global economy, Global polity

All indicators point to a challenging year ahead for the world, including India

Will 2023 be any better?

Rishi Sunak

The new PM faces unenviable challenges ahead, but he is a testament to the progress Britain has made towards becoming a multi-racial society

Britain and Rishi Sunak

Union Health Minister Mansukh Mandaviya will visit the AIIMS Bhubaneswar and the Cuttack medical college on Sunday to take stock of medical assistance being provided to the victims of the Odisha train accident, sources said.
The Friday triple train accident has left at least 288 people dead and over 1,100 injured.
The crash involving Bengaluru-Howrah Superfast Express and Shalimar-Chennai Central Coromandel Express and a goods train occurred around 7 pm on Friday near the Bahanaga Bazar station in Balasore, about 250 km south of Kolkata and 170 km north of Bhubaneswar.

Mansukh Mandaviya

Press Trust of India

With just two days to spare, President Joe Biden signed legislation on Saturday that lifts the nation's debt ceiling, averting an unprecedented default on the federal government's debt.
The White House announced the signing, done in private at the White House, in an emailed statement in which Biden thanked congressional leaders for their partnership.
The Treasury Department had warned that the country would start running short of cash to pay all of its bills on Monday, which would have sent shockwaves through the U.S. and global economies.
Republicans refused to raise the country's borrowing limit unless Democrats agreed to cut spending, leading to a standoff that was not resolved until weeks of intense negotiations between the White House and House Speaker Kevin McCarthy, R-Calif.
The final agreement, passed by the House on Wednesday and the Senate on Thursday, suspends the debt limit until 2025  after the next presidential election  and restricts government spending. It gives ...

US President Joe Biden

An on leave NDRF jawan travelling on the Coromandel Express was perhaps the first person to alert emergency services about the train's accident in Odisha's Balasore before he joined initial rescue efforts, officials said on Saturday.
The Shalimar-Chennai Central Coromandel Express entered a wrong track and hit a stationary goods train on Friday. Its coaches got scattered all around including on an adjoining track and another passenger train -- Bengaluru-Howrah Superfast Express -- coming at a high speed rammed into them and derailed.
The worst rail accident in India in nearly three decades has left at least 288 people dead and over 1,100 injured.
National Disaster Response Force (NDRF) jawan Venkatesh NK was on leave and travelling from Howrah in West Bengal to Tamil Nadu. He had a narrow escape as his coach B-7, though derailed did not collide with coaches ahead of it, the officials said. He was in a third AC coach and his seat number was 58.
The 39-year-old, posted with the NDRF'

Odisha triple train crash

The West Bengal government has also sent 10 buses to the spot to bring back the passengers from Balasore

IANS

Less than one in three startups that attract seed funding manage to raise follow-on funding in the form of a 'Series A' round, a study by Venture Intelligence shows

startups, funding, business

At least 207 people were killed and about 900 injured in the horrific train crash in Odisha, involving the Bengaluru-Howrah Superfast Express, the Shalimar-Chennai Central Coromandel Express and a goods train, officials said on Saturday.
Citing the latest report from Odisha's Special Relief Commissioner, Chief Secretary PK Jena said the death toll now stands at 207.
"Death toll in the train accident increasing. Latest report from
@SRC_Odisha from the accident site puts the figure at 207. No of Injured has been about 900," Jena tweeted.
The accident happened near the Bahanaga Baazar station in Balasore district, about 250 km south of Kolkata and 170 km north of Bhubaneswar, around 7 pm on Friday.
Several coaches of the 12864 Bengaluru-Howrah Superfast Express, on the way to Howrah, derailed and fell on adjacent tracks, an official said.
"These derailed coaches collided with the 12841 Shalimar-Chennai Central Coromandel Express and its coaches capsized too," he said.
A goods train

Rescue operation being conducted after four coaches of the Coromandel Express derailed. Photo: PTI

How long, and how high, Nvidia rises will depend a lot on how major corporations and mass consumers adopt and adapt to the AI boom

Nvidia

Bloomberg

Indian American Ajay Banga on Friday took over as the President of the World Bank, making him the first person of colour to head either of the two global financial institutions, the World Bank and the International Monetary Fund.
On May 3, the Executive Directors of the World Bank selected Banga, 63, as the 14th President of the World Bank for a five-year term.
In February, President Joe Biden announced that the US would nominate Banga to lead the World Bank.
Join us in welcoming Ajay Banga as the new President of the World Bank Group. We are committed to creating a world free from poverty on a livable planet, the World Bank said in a tweet with a picture of Banga entering the bank headquarters here on Friday.
I wish Ajay Banga all the best as he takes up his new role as President of the World Bank today. I look forward to continuing the deep partnership between our institutions to do good and help those most in need, IMF managing director Kristalina Georgieva said in a tweet.
Ban

Banga, Ajay Banga

Shortage of staff, rolling stock deficiencies flagged by RailMin before Odisha accident

Odisha train crash

With 288 casualties, Balasore deadliest rail accident in the last 28 years

narendra modi

'No change in intent to experiment with right framework or interest to invest in India', he says

Manish Tiwary

Here is the best of Business Standard's opinion pieces for today

Economic growth, GDP

A deal finalizing the joint production of the engines is expected to be inked and announced by the time President Joe Biden hosts Indian PM Narendra Modi for an official state visit on June 22

Reuters

A second mega $19.5 billion plan to build chips locally by a joint venture between India's Vedanta and Taiwan's Foxconn is also proceeding slowly

chip, semiconductor

India and Vietnam pledged to further strengthen their shared efforts and existing frameworks in areas such as marine scientific research, Humanitarian Assistance and Disaster Relief (HADR)

Lack of consensus delays construction of third indigenous aircraft carrier

Indian Navy

Apple's new stores in Delhi and Mumbai have grossed monthly sales of more than Rs 22-25 crore each

Apple BKC store, Photo: Shivani Shinde

Southern states see threats to the cooperative value chains with GCMMF's attempt to enter the procurement business

Amul

Lenders may put pressure on Byju's to liquidate US assets to part-repay

Byju's

The $50 billion sector is under the spotlight after a number of recent scandals linked to smaller, privately-held Indian companies, including the deaths of dozens of children in Gambia and Uzbekistan

pharma, pharma firm, medicines

Diplomacy is aimed at building trust between the nations and it will be a driving force in India's success, said Minister of Commerce and Industry, Consumer Affairs, and Textiles, Piyush Goyal

Shankar Acharya

Quest for value chains and exports

Democratic capitalism in peril?

Growth, Budget and macro balances

Will 2023 be any better?

Britain and Rishi Sunak

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Odisha train mishap: Mandaviya to visit AIIMS-Bhubaneswar, medical college

Biden signs debt ceiling bill, pulling US back from unprecedented default

On leave NDRF jawan sent 1st accident alert, 'live location' of mishap site

Less than 1 in 3 startups manage to raise follow-on funding: Study

Less than 1 in 3 startups manage to raise follow-on funding: Study

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At least 233 killed, around 900 injured in Odisha triple train crash

From a scrappy underdog to overnight AI success: Inside Nvidia's 30-yr ride

Indian American Ajay Banga becomes 1st person of colour to head World Bank

Train accidents surged 37% in FY23 despite Budget push for safety

Guilty will not be spared: PM after inspecting Odisha train accident site