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Here's what the Byju's mess can teach India's star...

Buffeted by problems from all sides, Think and Learn—the corporate name Byju’s goes by—is battling a sharp valuation markdown...

Global Biofuels Alliance : Defining leadership of Bharat

How India's expertise in addressing critical challenges can help the global economy

India's G20 presidency is a ray of hope for entrepreneurs worldwide: OYO founder Ritesh Agarwal

COVER STORY

Byju's stands at the edge of precipice: Can the edtech major reclaim its lost glory?

Deep Dive

Stagnant starting salaries, appealing new tech jobs in other sectors, frequent market volatility, and now onboarding delays. IT services companies, the most sought-after mass recruiters, are at risk of losing their allure among students

Why Indian IT service companies are losing their allure among students

Physics Wallah seems to have turned the tide even as many other major edtech players in India are grappling with lay-offs, losses, valuation cuts and regulatory scrutiny.

Here's how Physics Wallah solved the edtech riddle and is now aiming for growth

Newer technologies are disrupting the world as we know it and they pose significant challenges. In this backdrop, India is using its G20 presidency to find common ground on a global regulatory framework

India's G20 Presidency: How the country is trying to find common ground to push some key tech regulations

As the pharmacy of the world, the G20 presidency offers India's healthcare and pharma industry a golden opportunity to foster global collaborations and take it to new heights

Here's how India's G20 presidency can help the country's huge pharma sector

The G20 presidency is a significant moment for India, one that could potentially alter the way the world views it. Here's a look at what this year has meant for some key sectors

India's G20 presidency: Here's what it means for key sectors of the country's economy

‘AI will explode in the next 5-10 years,' says Soumitra Dutta, Dean of Oxford University’s Saïd Business School

Soumitra Dutta, Dean of Oxford University's Said Business School, in a conversation with Kalli Purie, Vice Chairperson of the India Today Group, talks about the impact of AI and what the future holds for this disruptive technology

Kalli Purie

Animal Spirits

Stock market investors needn't panic at the BJP's setback in the Karnataka polls; but they shouldn't be too complacent either and take 2024 as a done deal

Animal Spirits: Stock markets should not assume 2024 elections is a done deal, explains Udayan Mukherjee Udayan Mukherjee

The four iconic business leaders have their own leadership models, but patience and perseverance are common

Guru Mantras: Lessons in leadership from Tata’s Chandrasekaran, Narayana Murthy, Nilekani and Ajay Piramal Sourav Majumdar

Here's how Physics Wallah solved the edtech riddle and is now aiming for growth Aakanksha Chaturvedi

Sep 17, 2023

Beyond the BYJU'S Free Fall

Once the most valuable edtech company in the world, Byju’s is now mired in a slew of problems. From valuation markdowns, the resignations of its auditor and board members to a legal battle with its lenders, the firm has faced some tough times recently. What does India’s biggest edtech player do to survive the financial crisis? Find out in the latest issue of BT. Also read an interview with AI guru Soumitra Dutta, where he talks about the future of artificial intelligence. The issue also gives you a peek into the recently concluded BT India@100 Summit. All this and more in the latest issue of BT. On stands now.

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Photographik

Trucks parked near Navi Mumbai’s APMC market. Transport is a key component of the services sector. (Photo: Mandar Deodhar)

CREDIT CAPERS

AFTER INCREASING BY RS 18.2 LAKH CRORE TO AN ALL-TIME HIGH IN FY23, NON-FOOD CREDIT CONTINUED TO EXPAND IN THE FIRST QUARTER OF FY24, THANKS TO DEMAND FROM THE SERVICES SECTOR. HERE’S WHAT THE DATA INDICATES

Rs 136.55 Lakh Crore: Total non-food credit in FY23, up 15 per cent over a year and 164 per cent in the past decade
Rs 7.1 Lakh Crore: Rise in non-food credit in the June 2023 quarter, of which the services sector contributed 39 per cent (Rs 2.8 lakh crore)
30 %: The share of personal loans in total non-food credit in FY23; followed by the services sector (27 per cent)

THE GIFT THAT GIVES

GUJARAT’S GIFT CITY IS WORKING TOWARDS BECOMING A GLOBAL FINANCIAL HUB LIKE DUBAI AND SINGAPORE. RECENTLY, IT HOSTED A G20 MEETING. IT HAS ALSO ALLOWED DIRECT LISTING OF DOMESTIC FIRMS AND RELAUNCHED SGX NIFTY AS GIFT NIFTY

$240 MILLION+ Worth of investments have been committed to GIFT City; it houses over 400 companies from various sectors
$20 BILLION+ The average daily trading volume on international exchanges at GIFT City
20,000+ The number of people employed at GIFT City so far; in the future, it is expected to create 500,000 direct jobs and an equal number of indirect jobs

CURRIED

THE RECENT SPIKE IN THE PRICES OF CERTAIN VEGETABLES AND SPICES HAS SHAKEN KITCHEN BUDGETS ACROSS HOUSEHOLDS. HERE’S A LOOK AT WHAT COSTS HOW MUCH

4.9%: Food inflation in June 2023, compared with less than 3 per cent in May, thanks to the uneven march of the monsoon
375%: The surge in the retail price of tomatoes to `122 per kg in 2023. The increase was 250 per cent from a year ago
193%: Increase in garlic prices on a year-to-date (YTD) basis to `8,499 per quintal; ginger prices also jumped 188 per cent YTD

A Bharat Petroleum Corporation oil refinery in Mumbai’s Mahul

CRUDE CALCULUS

THE RECENT SOFTENING OF GLOBAL CRUDE OIL PRICES IS EXPECTED TO NARROW INDIA’S TRADE DEFICIT, OF WHICH OIL ACCOUNTED FOR 42.5 PER CENT (OR RS 9 LAKH CRORE) IN FY23. A LOOK AT THE KEY NUMBERS

39 PER CENT: The decline in Brent crude oil prices in the past year—from $122.7 a barrel in June 2022 to $75.1 in June 2023
222.3 MILLION TONNES: The total consumption of petroleum products in the country in FY23, up 10 per cent from 201.7 million tonnes in FY22
RS 16.8 LAKH CRORE: The value of imported crude and petroleum products in FY23, which is 29 per cent of India’s total imports of Rs 57.3 lakh crore

In the aftermath of Cyclone Biparjoy, a bulldozer removes fallen trees to clear a road in Kutch, Gujarat (Photo by GETTY IMAGES)

PUMMELLED

AS CLIMATE CHANGE COMES TO A HEAD, ITS EFFECTS ARE GETTING MORE PRONOUNCED. CYCLONE BIPARJOY, THE LATEST EXTREME WEATHER EVENT WITNESSED BY INDIA IN JUNE, WREAKED HAVOC ON THE WESTERN COAST

2,227: Human casualties in India due to extreme weather events in 2022, compared to 1,750 in 2021; more than 2.5 million people were also displaced due to natural disasters
5.4 PER CENT: Impact of extreme heat conditions on India’s gross domestic product in 2021, amounting to $159 billion
Rs 2,559 CRORE: Total insurance claims raised in the country due to damages suffered from natural disasters in FY21

How to study abroad? Here's a primer which answers all your questions

It is natural to feel confused when preparing to pursue higher studies abroad. From selecting the right college to financing your studies, here is a primer on finding the perfect destination to study overseas