Companies | An upturn is uncertain
India's corporate investment and growth had gone into a long and deep slumber. In 2016, we may see the first signs of awakening
It doesn’t need crystal ball gazing to say 2016 will witness the capitulation of some very large corporate defaulters in India. The unravelling has already begun for many Indian companies fattened on the easy debt diet of the past 10 years. In the last month alone, the Jaypee group, which is carrying a total debt of nearly ₹ 64,000 crore, looked to sell off its Yamuna expressway project, which is just the kind of project that led to its financial troubles in the first place. Anil Ambani’s Reliance Group is also busy selling assets ranging from telecom towers to cement units at a pace faster than it created them.