'We should see an uptick in capex on the back of public capital'

Sanjeev Krishan, Chairman of PwC in India, explains how India Inc. can move ahead by navigating the current challenges

- RAJWANT RAWAT

Sanjeev Krishan, 51, has long been regarded as PwC's go-to man for business deals in India. He rose from an articled trainee to occupy the top job at the consulting major in January last year. As Chairman of PwC in India, he is developing capacity to help the corporate sector with digitalisation, risk management, ESG compliance, and the supply chain network. In a conversation with Business Today's Sourav Majumdar and Anand Adhikari, Krishan talks about how India Inc. is dealing with the current difficult period of rising prices and interest rates globally. Edited excerpts:

Q: What is your sense of how India is coping with the current challenges? What are the key things it should watch out for?

A: From India's perspective, whenever there is a US rate hike, India, unfortunately, has to mirror it. The good news is that India is still in a good position. Over the last two and a half years, most large Indian corporations have significantly de-leveraged their balance sheets. The balance sheets today are much stronger than they were prior to Covid-19. As a result, they are in a far better position to withstand any of the current challenges. The Insolvency and Bankruptcy Code and the consolidation have helped to a large extent. As long as the demand remains, I don't see a big challenge for India Inc. at this point in time.