The Economic Times News

India must allow insolvency and bankruptcy to build dynamic, risk-taking economy: PM's EAC member Sanjeev Sanyal

India must embrace company bankruptcies for a dynamic economy. Economic Advisory Council to the Prime Minister member Sanjeev Sanyal stated continuous insolvency is essential. This allows new businesses to emerge and fosters long-term economic strength. He noted that allowing large companies to fail, as seen in 2017, ultimately made the corporate sector stronger. This approach encourages risk-taking and innovation.