What is happening in India today: Top News headlines: 13-05-2020


1. Narendra Modi: Economy, demography, system, demand, infra, 5 pillars of self-reliant India

Narendra Modi, Prime Minister of India on Tuesday called for a ‘self-reliant’ India amid coronavirus pandemic and listed economy, demography, infrastructure, system, and demand as the five pillars of ‘self-reliant’ India.

Narendra Modi

Prime Minister of India called the young people India’s strength. Narendra Modi said the economy doesn’t need incremental change but a quantum jump, infrastructure representing modern India, and technology-driven system.

2. Anil Agarwal to delist Vedanta from NSE, BSE at ₹87.5/share

Indian Entrepreneur and Chairperson of Vedanta, Anil Agarwal to delist Vedanta from the Indian stock exchanges.

Promoter Vedanta Resources said the delisting of Vedanta will provide financial flexibility and enhanced operational in the capital intensive business.

Anil Agarwal

Anil Agarwal has proposed a price of ₹87.5 per share to buyout the 49% owned by minority investors.

3. Kiran Mazumdar-Shaw: States with good primary healthcare system managed COVID-19 well

Indian Women Entrepreneur and Managing Director of India’s largest biopharmaceutical company, Biocon Limited and Kiran Mazumdar-Shaw has said that states with good primary healthcare ecosystem, including Kerala and Karnataka, have managed the COVID-19 well.

Kiran Mazumdar-Shaw

India has to focus on mortality rate as the cases increase, Mazumdar-Shaw added. Further, she added, The country has no option but to open up the economy with safeguards like social distancing, wearing masks and checking temperature.

4. Abhijit Banerjee: Not sure India will gain if businesses shift from China

An American economist Abhijit Banerjee has said that there is no sure whether India will gain if businesses shift from China following coronavirus pandemic.

Chinese products will be cheaper and consumer will continue to buy their products,” the Nobel laureate and economist said.

Abhijit Banerjee

Abhijit Banerjee is a Professor of Economics at Massachusetts Institute of Technology and part of an advisory panel recently formed by West Bengal.

5. Kris Gopalakrishnan: 25% of Indian startups in serious trouble if COVID-19 stays for long

Kris Gopalakrishnan said that if Indian startups are able to get additional investment, our startups will survive otherwise some of our Indian startups will fail.

Kris Gopalakrishnan

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He also said that almost 25% of Indian startups have less than six months of runway left. According to Infosys Co-founder, Kris Gopalakrishnan, a quarter of India’s startups would be in “serious trouble” if COVID-19 stays for long.