With the group’s attention focused on paying off its existing loans to retain financial credibility, funding ambitious new projects must take a back seat until finances stabilises.
It’s a dual threat that has businesses on edge and raises questions about if or when one of the world’s biggest finance hubs will regain its past prominence.
Sitharaman, who is only the second woman defence minister in India's history, is expected to work closely with the Finance Minister to take key industry-related decisions
If the political establishment responds to a situation like this as if it’s something that must only play out between a corporate & the market, it's coming of age of Indian capitalism.