TMS Ep462: Byju's problems, India-US ties, Indian IT stocks, jet engines

Byju’s juggernaut has come to a grinding halt. Just over a fortnight after it missed its interest payment on the 1.2 billion-dollar loan and took the lender to a court, its auditor has quit. Deloitte -- which was vetting Byju’s book for the last six years -- cited a long delay in its financial statement for the year ended March 31, 2022 as the reason for quitting. So in today’s first segment, Thareek Ahmed tries to answer if the country’s most valued ed-tech company will be able to revive its fortune. 

Notwithstanding Byju’s troubles, India’s ed-tech market is expected to grow to $10 billion by 2025. India is the second largest market for e-learning after the United States. Moving on, ties between India and the US entered a new phase last week when Prime Minister Narendra Modi visited the country as a state guest. A clutch of agreements were signed during the period. Bhaswar Kumar takes a look at three key developments in the fields of semiconductor, space and jet engines. And he asks experts if these deals will take the relations between the two nations to a new high? 

The United States has also emerged as the top destination for Indian IT exports. Select IT stocks have gained 10-26% so far in 2023 on hopes that a pause in policy tightening in the US may lead to a revival in IT spending. However, latest earnings from Accenture suggest that a recovery is still not in sight. So, are IT companies staring at tough days ahead? 

Let us shift our focus back to the subject of PM Modi’s recent US visit. Giving new wings to the India-US ties, American jet engine manufacturer General Electric and India’s Hindustan Aeronautics Limited have signed a pact to produce combat aircraft engines for the Indian Air Force. The agreement paves the way for the potential joint manufacturing of GE’s famous F414 engines in India. But ever wondered what exactly a jet engine is? And does it work? Listen to this episode of the podcast for answers.