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Biden may not undo Trump policies soon - The Hindu BusinessLine
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Best of BS Opinion: IPL in India, RBI s new challenge amid Covid, and more
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Summary
One of the key drivers of economic recovery in India will be the efficient movement of capital from inefficient firms to efficient ones. The economic downturn caused by the coronavirus pandemic has been severe, and India’s economy was one of the worst affected in 2020–2021. Though the economy is recovering faster than initial estimates, sustained economic recovery will not take place if stressed businesses cannot restructure their debts properly or if failing firms cannot be resolved efficiently. India’s bankruptcy law is key to solving these challenges.
In 2016 India enacted the Insolvency and Bankruptcy Code, 2016 (IBC), which was a landmark reform to the nation’s financial system and the first comprehensive law to regulate insolvency.
Updated Mar 05, 2021 | 15:44 IST
Joe Biden s first telephonic conversation as the President of US, with PM Modi on February 8, allayed some of the concerns and apprehensions about the durability of the bonhomie that marked Indo-US relations. Representational image 
US President Joe Biden had his first telephonic conversation as President with Prime Minister Narendra Modi on February 8, 2021. It is reported that they expressed their commitment to a “rules-based international order” and to “consolidating strategic partnership” between the two countries to further peace and security in the Indo-Pacific region. This has allayed some of the concerns and apprehensions about the durability of the bonhomie that marked Indo-US relations under President Trump. After all, in recent times, the Indo-US bilateral relationship was marked by the euphoria of events like ‘Howdy, Modi’ in Houston in September 2019, slogans like ‘Ab ki baar, Trump sarkar’ an
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