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India s Sustained Economic Recovery Will Require Changes to Its Bankruptcy Law - Carnegie India - Carnegie Endowment for International Peace

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.

Steady As She Goes: Still Protecting, Toughening and Augmenting PNT

For years, both the Executive and Congress have expressed concerns over PNT vulnerabilities and clamored for solutions. Yet little has changed. Three important reports emerged at the tail end of the old regime. As new leadership takes the helm, in which direction will it take the PNT enterprise? As far back as 1996, when Executive Order (EO) 13010 stood up The President’s Commission on Critical Infrastructure Protection, folks started taking notice that exclusive reliance on GPS for U.S. transportation creates undue risk. Two years later, Presidential Decision Directive 63 ordered the Department of Transportation (DOT), in collaboration with the Department of Defense (DOD), to evaluate GPS in relation to national transportation and civilian systems. (Note: It was not until late 2004, in National Security Presidential Directive (PD) 39, that the mantle was officially handed to DOT for GPS policy. PD 39 also made DOT co-chair with DOD of the National Space Based Positioning, Naviga

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