Scrutiny of Indian tycoons stalls New Delhi privatisation drive

Tough times: Sitharaman speaks at a press briefing in Washington, DC. India’s Finance Minister is well aware of the hurdles faced in privatising some of their assets and what it might take to successfully accomplish takeovers. — AFP

NEW DELHI: Prime Minister Narendra Modi assumed office nearly a decade ago with a goal of privatising more of India’s floundering state-owned assets.

For the nation’s business elite, that message was a clarion call to rescue an inefficient public sector.