, Columnist
India Restores Faith in Capitalism
Handling bankruptcies right is key to reviving the credibility of India Inc.
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According to one of India’s most respected bankers, it’s a once-in-a-lifetime opportunity -- a mammoth sale of distressed assets, some $40 billion in the first round. Much could go wrong, of course, especially given that so many powerful interests have so much money at stake in the process. Fortunately, Prime Minister Narendra Modi's government, which has stumbled in some of its biggest policy moves recently, appears to be handling this particular challenge with both agility and a sense of urgency. That mindset should now be carried over into other parts of the reform agenda.