Co-chairman and co-CEO (Chief Executive Officer) of KKR, Henry Kravis, stated that India is one of the best places to make investments and termed the current government as being ‘pro-business,” as reported by Mint. KKR (Kohlberg Kravis Roberts & Co) is the third largest investment firm in the world, with $195 billion of Assets Under Management (AUM).
“India is a terrific place to put capital and investing in infra, waste management, hospitals. We can invest around the world anywhere with the right capital structure,” Mr Kavis, noted.
“You have a government that is pro-business, that is trying to do what needs to be done to improve business. As you go forward, you’re going to have a large amount of liquidity put into the system—it takes fiscal and it takes monetary. You’re the fastest growing economy in the world,” he added, in an interaction with a group of journalists.
On reforms needed to tackle the burgeoning NPA (Non-Performing Assets) crisis in the banking sector, Mr Kavis said, “Take the tough medicine and clean out the bad loans. Once you have done that—a good asset quality stress test—they tried in Europe and got it right the third time. I would encourage the government and banks here to do it. If you put good money after bad money, it never pays off.”
The NDA Government, led by PM Modi, has successfully rolled out IBC (Insolvency and Bankruptcy Code, 2016) to provide a comprehensive solution to banks to recover their dues from defaulters.
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