India’s bankrupt companies offer a never-before opportunity to the global investors to ride the country’s exceptional growth trajectory, thanks to the Insolvency and Bankruptcy Code (IBC), Finance Minister Arun Jaitley said.
Finance Minister Arun Jaitley
New Delhi:
He was addressing fund houses and law firms at a conference on ‘Insolvency and Bankruptcy Code - A New Paradigm for Stressed Assets,’ hosted by the Insolvency and Bankruptcy Board of India and the Consulate General of India, NY, USA. “There can’t be a better opportunity than the present one which is being offered through the Code. This is the right time and right place to be in India for these kinds of investments,” he said.
“Given the future potential of the Indian economy and the fair process followed under the Code, it is a great opportunity for investors who are seriously thinking about investing in India,” he said via a video conference at an event in NYC. Jaitley said India’s economy is growing faster than some of its contemporaries amongst the emerging economies and it is likely to maintain this high growth rate of at least 7-8 per cent over the next decade.
He was addressing fund houses and law firms at a conference on ‘Insolvency and Bankruptcy Code - A New Paradigm for Stressed Assets,’ hosted by the Insolvency and Bankruptcy Board of India and the Consulate General of India, NY, USA. “There can’t be a better opportunity than the present one which is being offered through the Code. This is the right time and right place to be in India for these kinds of investments,” he said.